Huize Holding Ltd Stock Price, News & Analysis

Huize Holding (NASDAQ: HUIZ) announced it will hold its annual general meeting of shareholders on November 29, 2024 at 10:00 AM (Hong Kong time) at Suite 3904-3905, Tower 6, The Gateway, Harbour City, Tsim Sha Tsui, Hong Kong. The meeting will serve as an open forum for shareholders and ADS holders to discuss company affairs with management, with no proposals submitted for approval. The record date is set for November 4, 2024. The company has filed its annual report on Form 20-F for the fiscal year ended December 31, 2023, which is accessible on the company's investor relations website and the SEC website.

Poni Insurtech, the international arm of Huize Holdings (NASDAQ: HUIZ), has announced the launch of a new health insurance comparison platform, GlobalCare.vn, in Vietnam through its subsidiary Global Care. The platform aims to offer Vietnamese consumers a transparent and user-friendly insurance shopping experience, positioning itself as a one-stop 'insurance supermarket'.

The launch marks a significant milestone in Poni Insurtech's ASEAN expansion strategy. GlobalCare.vn provides customers with an intuitive way to search and customize insurance packages, offering quick claims analysis and approval. It also benefits insurers by allowing easy product digitization and fast claim processing, while providing agents with tools to match customers with the right policies.

This initiative combines Poni Insurtech's advanced technology with Global Care's local market expertise, aiming to drive innovation and enhance the digital insurance experience in Vietnam.

Huize Holding (NASDAQ: HUIZ) reported its Q2 2024 unaudited financial results. Key highlights:

- GWP slightly decreased to RMB1,336.9 million, down 3.0% year-over-year
- Renewal premiums increased by 42.8% to RMB685.4 million
- Gross profit margin improved to 31.3%, up 2.3 percentage points sequentially
- Operating revenue decreased 23.2% to RMB283.0 million
- Net loss was RMB23.3 million, compared to a net profit of RMB14.1 million in Q2 2023
- Cash and cash equivalents stood at RMB236.2 million as of June 30, 2024

The company highlighted its resilient business performance, improved customer quality, and expansion into international markets. Huize's CEO emphasized their focus on sustainable growth and diversification of revenue streams.

Huize Holding (NASDAQ: HUIZ) has partnered with New China Life Insurance Company to launch 'Bliss No.2', a customized lifetime annuity product. This upgraded addition to the 'Bliss' series aims to meet the growing demand for diversified retirement solutions in China. Key features include:

1. Rapid cash value growth
2. Flexible annuity start times
3. Simplified underwriting process
4. Complimentary care services

The product is designed to provide flexible and stable financial planning in response to China's gradual retirement age extension. With a low minimum annual premium of RMB2,000, it offers broad accessibility. Huize's CEO, Cunjun Ma, emphasized the product's alignment with China's retirement reforms and the company's commitment to providing comprehensive wealth and health protection solutions.

Huize Holding (NASDAQ: HUIZ), a leading insurance technology platform in Asia, has announced plans to release its second quarter 2024 unaudited financial results on September 25, 2024, before the U.S. market opens. The company will hold an earnings conference call at 8:00 A.M. Eastern Time (8:00 P.M. Beijing/Hong Kong Time) on the same day.

Participants can register for the call using the provided link. Upon registration, they will receive dial-in numbers and a unique access PIN. A live and archived webcast of the conference call will also be available on Huize's investor relations website.

Huize Holding (NASDAQ: HUIZ) has announced the completion of its international arm Poni Insurtech's acquisition of a 71.7% stake in Global Care, a leading Vietnam-based insurtech company. The acquisition, completed through existing share purchases and new share subscriptions, marks Huize's expansion into its second international market. As part of the deal, VinaCapital Ventures received newly issued class A common shares of Huize, representing about 1.7% of the Company's fully diluted share capital. Global Care is now a majority-owned subsidiary of Huize, with its financial results to be consolidated into Huize's financial statements. This strategic move is expected to accelerate market growth in Vietnam through innovative product development, distribution partnerships, and AI capabilities deployment.

Huize Holding (NASDAQ: HUIZ) has partnered with China Pacific Property Insurance Co., (CPIC P&C) to launch 'Little Scholar', a customized student accident insurance product. Designed for children aged 3 to 25, it offers up to RMB500,000 in protection for accidents and illnesses. Key features include:

• Comprehensive coverage beyond school grounds
• Protection against 100 types of critical illnesses
• Favorable deductibles and reimbursement rates
• Additional benefits like ambulance fee coverage and guardian liability protection

The product aims to address the 3% accident rate for students in this age group, as per the China Insurance Industry Accident Experience Rate Table (2021).

Huize Holding (NASDAQ: HUIZ) announced a strategic partnership with New China Life Insurance (NCI) to launch “Bliss”, a customized annuity insurance product. Bliss targets risk-averse clients with offerings like rapid cash value growth, flexible annuity start times, seamless enrollment without health declarations, and affordable premiums starting at RMB2,000 annually. Additionally, it includes up to 5 years of complimentary health management services. This collaboration aims to leverage Huize's digital capabilities, enhancing customer management and expanding health services, ultimately positioning Huize as a leading digital partner in the insurance sector.

Huize Holding (NASDAQ: HUIZ), a leading insurance technology platform in China, has regained compliance with Nasdaq's Minimum Bid Price Requirement. The company received a notification letter from Nasdaq on July 15, 2024, confirming that its American depositary shares (ADSs) have maintained a closing bid price of $1.00 or higher for 20 consecutive business days, from June 13 to July 12, 2024.

This development resolves the previous non-compliance issue, which was notified to Huize on January 5, 2024, when its ADS price fell below $1.00 for 30 consecutive business days. With this compliance restoration, Nasdaq has closed the matter, ensuring Huize's continued listing on the exchange.