Huize Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

Huize Holding (NASDAQ: HUIZ), an insurance technology platform in Asia, has successfully regained compliance with Nasdaq's minimum bid price requirement. The company received a compliance notice from Nasdaq dated December 30, 2024, confirming that its American depositary shares (ADSs) maintained a closing bid price of US$1.00 or higher for 10 consecutive business days from December 9 to December 27, 2024. This resolves the previous non-compliance notification received on September 10, 2024, when the company's ADS price had fallen below US$1.00 for 30 consecutive business days.

Positive

• Regained Nasdaq listing compliance, eliminating delisting risk
• Maintained ADS price above $1.00 for required compliance period
• Matter officially closed by Nasdaq

Negative

• None.

SHENZHEN, China, Dec. 31, 2024 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize” or the “Company”) (NASDAQ: HUIZ), a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia, today announced that it has received a notification letter (the “Compliance Notice”) from the Listing Qualifications Department of the Nasdaq Stock Market Inc. (“Nasdaq”) dated December 30, 2024, informing the Company that it has regained compliance with Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”).

As previously disclosed, the Company was notified by Nasdaq on September 10, 2024 that the Company was not in compliance with the Minimum Bid Price Requirement, as the closing bid price of the Company’s American depositary shares (“ADSs”) was below US$1.00 per share for 30 consecutive business days.

On December 30, 2024, Nasdaq confirmed in the Compliance Notice that the closing bid price of the Company’s ADSs has been at US$1.00 per share or greater for 10 consecutive business days, from December 9, 2024, to December 27, 2024. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5450(a)(1), and the matter is closed.

About Huize Holding Limited

Huize Holding Limited is a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia. Targeting mass affluent consumers, Huize is dedicated to serving consumers for their life-long insurance needs. Its online-to-offline integrated insurance ecosystem covers the entire insurance life cycle and offers consumers a wide spectrum of insurance products, one-stop services, and a streamlined transaction experience across all scenarios. By leveraging AI, data analytics, and digital capabilities, Huize empowers the insurance service chain with proprietary technology-enabled solutions for insurance consultation, user engagement, marketing, risk management, and claims service.

For more information, please visit http://ir.huize.com or follow us on social media via LinkedIn (https://www.linkedin.com/company/huize-holding-limited), Twitter (https://twitter.com/huizeholding) and Webull (https://www.webull.com/quote/nasdaq-huiz).

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Huize’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, business outlook and quotations from management in this announcement, contain forward-looking statements. Huize may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Huize’s goal and strategies; Huize’s expansion plans; Huize’s future business development, financial condition and results of operations; Huize’s expectation regarding the demand for, and market acceptance of, its online insurance products; Huize’s expectations regarding its relationship with insurer partners and insurance clients and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing.

For investor and media inquiries, please contact:

Investor Relations
Kenny Lo
Investor Relations Manager
investor@huize.com

Media Relations
mediacenter@huize.com

Christensen
In China
Ms. Dee Wang
Phone: +86-10-5900-1548
Email: dee.wang@christensencomms.com

In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com

FAQ

When did Huize (HUIZ) regain Nasdaq compliance?

Huize regained Nasdaq compliance on December 30, 2024, after maintaining its ADS price above $1.00 for 10 consecutive business days from December 9 to December 27, 2024.

What was the minimum share price requirement for HUIZ to maintain Nasdaq listing?

HUIZ needed to maintain a minimum closing bid price of US$1.00 per ADS to comply with Nasdaq Listing Rule 5450(a)(1).

When was HUIZ initially notified of Nasdaq non-compliance?

Huize was notified of non-compliance with Nasdaq's minimum bid price requirement on September 10, 2024.

How long did HUIZ need to maintain $1.00 share price to regain compliance?

HUIZ needed to maintain a closing bid price of at least $1.00 per ADS for a minimum of 10 consecutive business days to regain compliance.