Huize Holding Ltd
NASDAQ:HUIZ
Huize Holding Ltd
Huize Holding Ltd. engages in the provision of insurance brokerage services through online platform. The company is headquartered in Shenzhen, Guangdong. The company went IPO on 2020-02-12. As a licensed insurance intermediary operating an online platform, the Company distributes on the platform insurance products underwritten by its partner insurance companies and helps them reach the purchasers of insurance products and insurance clients. The firm operates its businesses primarily in the domestic market.
Huize Holding Ltd. engages in the provision of insurance brokerage services through online platform. The company is headquartered in Shenzhen, Guangdong. The company went IPO on 2020-02-12. As a licensed insurance intermediary operating an online platform, the Company distributes on the platform insurance products underwritten by its partner insurance companies and helps them reach the purchasers of insurance products and insurance clients. The firm operates its businesses primarily in the domestic market.
Revenue High: Huize reported second quarter revenue of RMB 400 million, marking a three-year quarterly high and a 40% year-on-year increase.
Profitability: The company returned to net profit, earning approximately RMB 11 million for the quarter.
Premium Growth: Gross written premiums facilitated rose 34% year-over-year to RMB 1.8 billion, with first year premiums up 73% to RMB 1.1 billion.
AI Efficiency: Broad AI adoption drove a 16.6 percentage point improvement in expense-to-income ratio, now at 23.9%, and helped reduce operating expenses by 17%.
International Expansion: Overseas business, especially in Vietnam and Southeast Asia, saw strong growth, with Global Care in Vietnam increasing GWP and revenue by 32%.
Stable Margins: Gross margin improved slightly to around 27% and is expected to remain stable.
Optimistic Outlook: Management expects continued growth in power and health/medical protection products and anticipates sequential profit growth into the second half of 2025.
