Huize Holding Ltd Stock Price, News & Analysis

Huize Holding Limited (NASDAQ: HUIZ) reported robust financial results for Q4 and the full year 2020. Q4 total Gross Written Premiums (GWP) surged 63% to RMB1,047 million, while annual GWP rose 49.9% to RMB3,019.9 million. Operating revenue also climbed 50.3% in Q4 to RMB388.1 million, and 22.8% for the year to RMB1,220.2 million. Despite these gains, the company recorded a net loss of RMB27 million for Q4 and RMB18.3 million for the year, a decline from 2019's profit. Looking ahead, Huize expects Q1 2021 revenue between RMB650 million to RMB700 million.

Huize Holding Limited (NASDAQ: HUIZ) will release its fourth quarter 2020 financial results on March 10, 2021, prior to market opening. The management team will host a conference call on the same day at 7:00 A.M. ET to discuss the results, which requires prior online registration. Participants can access a replay of the call until March 18, 2021. As an independent online insurance platform in China, Huize targets the new generation consumers by providing a range of long-term life and health insurance products.

Huize Holding Limited (NASDAQ: HUIZ) announced the appointment of Mr. Aaron Xiaolei Hou to its board of directors, effective February 12, 2021. Mr. Hou will also hold positions in various board committees, enhancing governance standards with his 20 years of experience in risk management and capital markets. Concurrently, COO Li Jiang will step down from the board but continue in his executive role, resulting in a board primarily composed of independent directors. This leadership change aims to bolster risk management practices and governance within Huize.

Huize Holding Limited (NASDAQ: HUIZ) announced preliminary estimated unaudited total operating revenue of at least RMB380 million for Q4 2020, marking a record quarterly high with a 47.1% year-over-year growth. This surpasses previous guidance of RMB330 million to RMB350 million. Total Gross Written Premiums (GWP) for the quarter are expected to be approximately RMB1,000 million, reflecting a 55.7% increase from the prior year. The growth is attributed to strong market demand for proprietary critical illness products and an increase in online insurance purchases during China's economic recovery.

Huize Holding Limited (NASDAQ: HUIZ) reported its unaudited financial results for Q3 2020, showing a 22.9% increase in total operating revenue to RMB348.5 million (US$51.3 million). Gross Written Premiums surged 41.2% year-over-year to a record RMB779.0 million. The net profit was RMB14.7 million (US$2.2 million), down from RMB16.1 million in Q3 2019. Non-GAAP net profit also decreased to RMB20.4 million (US$3.0 million). The company forecasts Q4 2020 operating revenue between RMB330 million and RMB350 million.

Huize Holding Limited (NASDAQ: HUIZ) will release its Q3 2020 financial results on November 19, 2020, before market opening. The management team will host a conference call at 7:00 A.M. ET to discuss these results. Participants are required to register online to receive dial-in details and a unique access PIN for the call. The call will also be available for replay until November 27, 2020, through designated international numbers. Huize is recognized as the largest independent online insurance platform in China, focusing on life and health insurance.

Huize Holding Limited (NASDAQ: HUIZ) announced its annual general meeting of shareholders scheduled for December 10, 2020, at 10:00 AM Beijing time. The meeting will be held at the Shenzhen Animation Park without any proposals for shareholder approval, serving as a forum for discussion with management. The record date for attendees is set for November 2, 2020. Additionally, Huize has filed its annual report on Form 20-F, including audited financials for the fiscal year ended December 31, 2019, which is accessible on both their website and the SEC's website.

Huize Holding Limited (NASDAQ: HUIZ) has been recognized in the inaugural Hurun China Digital Insurance Agencies 2020 list, ranking fourth for innovation and market performance. The company, known for its online insurance platform, has been pivotal in the digital insurance space in China, especially during the COVID-19 pandemic which has accelerated growth in the sector. During H1 2020, original insurance premium fees in China rose by 6.5% year-over-year to RMB2.7 trillion. Huize aims to continue leading the long-term life and health insurance sector through ongoing technical innovation.

Huize Holding Limited (NASDAQ: HUIZ) reported its second quarter 2020 financial results, highlighting a 51.0% increase in total Gross Written Premiums (GWP) to RMB596.0 million. Operating revenue rose by 17.6% to RMB235.0 million. Despite a net loss of RMB3.7 million, the company achieved a non-GAAP profit of RMB14.1 million, marking its ninth consecutive quarter of profitability on a non-GAAP basis. As of June 30, 2020, Huize held RMB447.3 million in cash. The company forecasts third-quarter revenue between RMB310 million and RMB340 million, reflecting increasing market opportunities amid ongoing challenges.