SHENZHEN, China, Sept. 12, 2025 (GLOBE NEWSWIRE) -- Huize Holding Limited, ("Huize", the "Company" or "we") $(HUIZ)$, a leading insurance technology platform connecting consumers, insurance carriers, and distribution partners digitally through data-driven and AI-powered solutions in Asia, today announced its unaudited financial results for the quarter ended June 30, 2025.
Second Quarter 2025 Financial and Operational Highlights
-- Remarkable business performance: First year premiums ("FYP") recorded
solid growth of 73.1% from RMB651.5 million in the second quarter of 2024
to RMB1,127.9 million in the second quarter of 2025. Gross written
premiums ("GWP") also surged 34.4% year-over-year to RMB1,796.5 million
in the second quarter of 2025. The notable business performance was
driven primarily by our high-quality customer base, continuously robust
persistency ratios, and the wide-range of insurance product offerings
that cater for different protection needs of our clients.
-- Robust revenue growth and ongoing efficiency gains underpinned solid
profitability: Total revenue reached RMB396.7 million in the second
quarter of 2025, increased by 40.2% year-over-year. Our expense-to-income
ratio improved significantly from 40.5% in the second quarter of 2024 to
23.9% in the second quarter of 2025, mainly reflecting our
cost-optimization initiatives and the deployment of our proprietary AI to
improve productivity. As a result, we achieved a GAAP net profit
attributable to common shareholders of RMB10.9 million over the quarter.
-- The cumulative number of insurance clients served increased to 11.4
million as of June 30, 2025. Huize cooperated with 146 insurer partners
in mainland China and internationally, including 84 life and health
insurance companies and 62 property and casualty insurance companies, as
of June 30, 2025.
-- As of June 30, 2025, cash and cash equivalents were RMB238.5 million
(US$33.3 million).
Mr. Cunjun Ma, Founder and CEO of Huize, said, "We are pleased to deliver another quarter of remarkable results, with operating revenue hitting a 3-year high of RMB397 million and GAAP net profit attributable to common shareholders of RMB10.9 million. Gross written premiums and first-year premiums facilitated on our platform maintained solid growth momentum, rising 34.4% year-over-year to RMB1,796 million and 73.1% year-over-year to RMB1,128 million, respectively, and in the second quarter."
"Acquiring and serving high-quality, mass-affluent customers remains our core focus. In the second quarter, the average age of customers who purchased long-term insurance products was 35.2 years, with 65.4% residing in higher-tier cities. By the end of May, our 13(th) and 25(th) month persistency ratios for long-term life and health insurance products stood at industry-high levels of more than 95%, reflecting strong user loyalty to our comprehensive, customized products."
"To meet the lifelong protection needs of our customers, we continued to co-develop and launch differentiated, customized products with our insurer partners. Against a backdrop of preference for steady financial planning and an aging population, our early move in participating products has delivered strong progress. Centered on client wealth-management needs, we introduced the 'Bliss (Golden Edition)' annuity, offering superior and sustainable wealth-planning solutions. We have also jointly launched 'Xiao Shen Tong 7.0' children's accident insurance with Ping An Property & Casualty Insurance, and jointly launched 'Little Scholar 2.0 Pro' student accident & medical insurance with PICC Property & Casualty, delivering multi-dimensional and comprehensive protection for children and students."
"Our AI strategy has evolved into a systematic initiative centered around three progressive pillars: enhancing organizational efficiency, driving AI-powered operational processes, and exploring business model transformation. We are actively promoting the adoption of AI tools and fostering an AI-native culture to enhance efficiency across the organization. Notably, our expense-to-income ratio decreased significantly by 16.6 percentage points year-over-year, reaching 23.9% in the second quarter of 2025. We are also embedding AI into our core workflows, redesigning the entire user journey, from customer acquisition, conversion, to post-sales service. For instance, our AI-based intent recognition and product recommendation systems have driven a 50% year-over-year increase in self-directed policy purchases."
"Our long-term vision is to build an AI-driven intelligent ecosystem that seamlessly connects users, insurers, and agents. By leveraging our proprietary AI technologies, we aim to redefine the value chain, enhance service quality and efficiency, and unlock new growth opportunities."
Second Quarter 2025 Financial Results
GWP and operating revenue
GWP facilitated on our platform was RMB1,796.5 million (US$250.8 million) in the second quarter of 2025, an increase of 34.4% from RMB1,336.9 million in the same period of 2024. Within GWP facilitated in the second quarter of 2025, FYP accounted for RMB1,127.9 million (or 62.8% of total GWP), an increase of 73.1% year-over-year. Renewal premiums accounted for RMB668.6 million (or 37.2% of total GWP), representing a decrease of 2.5% year-over-year.
Operating revenue was RMB396.7 million (US$55.4 million) in the second quarter of 2025, an increase of 40.2% from RMB283.0 million in the same period of 2024. The increase was primarily driven by the increase in FYP facilitated.
Operating costs
Operating costs were RMB287.8 million (US$40.2 million) in the second quarter of 2025, representing an increase of 48.1% from RMB194.4 million in the same period of 2024, primarily due to an increase in channel expenses.
Operating expenses
Selling expenses were RMB52.5 million (US$7.3 million) in the second quarter of 2025, representing an increase of 12.0% from RMB46.8 million in the same period of 2024, primarily due to an increase in staff compensation.
General and administrative expenses were RMB26.3 million (US$3.7 million) in the second quarter of 2025, representing a decrease of 47.1% from RMB49.7 million in the same period of 2024. This decrease was primarily due to a decrease in share-based compensation expenses, rental and utilities expenses and staff compensation related to workforce optimization.
Research and development expenses were RMB16.0 million (US$2.2 million) in the second quarter of 2025, representing a decrease of 11.8% from RMB18.1 million in the same period of 2024, primarily due to a decrease in staff compensation related to workforce optimization.
Net profit and non-GAAP net profit for the period
Net profit attributable to common shareholders was RMB10.9 million (US$1.5 million) in the second quarter of 2025, compared to net loss attributable to common shareholders of RMB23.3 million in the same period of 2024. Non-GAAP net profit attributable to common shareholders(1) was RMB7.6 million (US$1.1 million) in the second quarter of 2025, compared to non-GAAP net loss attributable to common shareholders of RMB13.0 million in the same period of 2024.
Cash and cash equivalents
As of June 30, 2025, the Company's cash and cash equivalents amounted to RMB238.5 million (US$33.3 million), compared to RMB233.2 million as of December 31, 2024.
Conference Call
The Company's management team will hold an earnings conference call at 8:00 A.M. Eastern Time on Friday, September 12, 2025 (8:00 P.M. Beijing/Hong Kong Time on Friday, September 12, 2025). Details for the conference call are as follows:
Event Title: Huize Holding Limited's Second Quarter 2025 Earnings Conference Call
Registration Link:
https://register-conf.media-server.com/register/BI3e35bb510fdd420aae37a9c8f42c9f59
All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registration, each participant will receive a confirmation email containing dial-in numbers and a unique access PIN, which will be used to join the conference call.
Additionally, a live and archived webcast of the conference call will also be available on the Company's investor relations website at http://ir.huize.com.
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 .
Use of Non-GAAP Financial Measure Statement
In evaluating our business, we consider and use non-GAAP net profit/(loss) attributable to common shareholders as a supplemental measure to review and assess our operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define non-GAAP net profit/(loss) attributable to common shareholders as net profit/(loss) attributable to common shareholders excluding share-based compensation expenses. Such adjustments have no impact on income tax because either the non-GAAP adjustments were recorded at entities located in tax free jurisdictions, such as the Cayman Islands or because the non-GAAP adjustments were recorded at operating entities located in the PRC for which the non-GAAP adjustments were not deductible for tax purposes.
We present the non-GAAP financial measure because it is used by our management to evaluate our operating performance and formulate business plans. Non-GAAP net profit/(loss) attributable to common shareholders enables our management to assess our operating results without considering the impact of share-based compensation expenses. We also believe that the use of this non-GAAP financial measure facilitates investors' assessment of our operating performance.
This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. One of the key limitations of using adjusted net profit/(loss) attributable to common shareholders is that it does not reflect all items of income and expense that affect our operations. Further, the non-GAAP financial measure may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited.
The non-GAAP financial measure should not be considered in isolation or construed as an alternative to net profit/(loss) attributable to common shareholders or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review the historical non-GAAP financial measure in light of the most directly comparable GAAP measure, as shown below. The non-GAAP financial measure presented here may not be comparable to similarly titled measure presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing our data comparatively. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.1636 to US$1.00, the exchange rate on June 30, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollars amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.
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.
Further information regarding these and other risks is included in Huize's filings with the SEC. All information provided in this press release is as of the date of this press release, and Huize does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Investor Relations
Kenny Lo
Investor Relations Manager
investor@huize.com
Media Relations
mediacenter@huize.com
Christensen Advisory
In China
Ms. Dolly Zhang
Phone: +852 6996 4179
Email: dolly.zhang@christensencomms.com
In U.S.
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: linda.bergkamp@christensencomms.com
Huize Holding Limited
Unaudited Condensed Consolidated Balance Sheets
(all amounts in thousands, except for share and per
share data)
As of December 31, As of June 30,
-------------------- ---------------------
2024 2025
-------------------- ---------------------
RMB RMB USD
Assets
Current assets
Cash and cash
equivalents 233,207 238,500 33,293
Restricted cash 61,708 43,855 6,122
Short-term
investments 5,000 3,203 447
Contract assets, net
of allowance for
doubtful accounts 71,085 77,029 10,753
Accounts receivables,
net of allowance for
impairment 157,080 200,987 28,057
Insurance premium
receivables 1,763 1,846 258
Amounts due from
related parties 995 1,086 152
Prepaid expense and
other receivables 68,171 69,290 9,673
Total current assets 599,009 635,796 88,755
---------------- -------- -------
Non-current assets
Restricted cash 29,883 29,683 4,144
Contract assets, net
of allowance for
expected credit
losses 28,435 32,959 4,601
Property, plant and
equipment, net 47,083 42,475 5,929
Intangible assets,
net 68,840 66,796 9,324
Long-term investments 66,716 61,623 8,602
Operating lease
right-of-use assets 20,715 16,017 2,236
Goodwill 14,536 14,075 1,965
Other assets 8,981 2,747 383
Total non-current assets 285,189 266,375 37,184
---------------- -------- -------
Total assets 884,198 902,171 125,939
---------------- -------- -------
Liabilities and
Shareholders' Equity
Current liabilities
Short-term
borrowings 50,000 53,000 7,399
Accounts payable 202,054 252,500 35,248
Insurance premium
payables 56,042 36,337 5,072
Other payables and
accrued expenses 44,434 25,051 3,497
Payroll and welfare
payable 41,005 41,883 5,847
Income taxes
payable 2,575 5,450 761
Operating lease
liabilities 16,743 15,008 2,095
Amount due to
related parties 2,495 - -
Total current liabilities 415,348 429,229 59,919
---------------- -------- -------
Non-current liabilities
Long-term
borrowings - 6,990 976
Deferred tax
liabilities 14,875 13,949 1,947
Operating lease
liabilities 24,082 17,040 2,379
Payroll and welfare
payable 649 505 70
Accounts payable - 5,028 702
Total non-current
liabilities 39,606 43,512 6,074
---------------- -------- -------
Total liabilities 454,954 472,741 65,993
---------------- -------- -------
Shareholders' equity
Class A common
shares 63 63 9
Class B common
shares 10 10 1
Treasury stock (29,513) (29,513) (4,120)
Additional paid-in
capital 909,930 909,930 127,021
Accumulated other
comprehensive
loss (12,864) (13,334) (1,861)
Accumulated
deficits (458,886) (456,597) (63,738)
---------------- -------- -------
Total shareholders'
equity attributable to
Huize Holding Limited
shareholders 408,740 410,559 57,312
Non-controlling
interests 20,504 18,871 2,634
---------------- -------- -------
Total shareholders'
equity 429,244 429,430 59,946
---------------- -------- -------
Total liabilities and
shareholders' equity 884,198 902,171 125,939
---------------- -------- -------
Huize Holding Limited
Unaudited Condensed Consolidated Statements of Comprehensive
Income/(Loss)
(all amounts in thousands, except for share and per
share data)
For the Three Months Ended June 30, For the Six Months Ended June 30,
-------------------------------------------- ----------------------------------------------
2024 2025 2024 2025
------------ ------------------------------ ------------ --------------------------------
RMB RMB USD RMB RMB USD
Operating revenue
Brokerage income 271,790 384,544 53,680 573,672 656,394 91,629
Other income 11,161 12,202 1,703 19,591 24,141 3,370
----------- ------------- ------------- ----------- ------------- -------------
Total operating
revenue 282,951 396,746 55,383 593,263 680,535 94,999
----------- ------------- ------------- ----------- ------------- -------------
Operating costs
and expenses
Cost of revenue (187,469) (286,236) (39,957) (405,361) (495,248) (69,134)
Other cost (6,885) (1,525) (213) (9,188) (2,996) (418)
----------- ------------- ------------- ----------- ------------- -------------
Total operating
costs (194,354) (287,761) (40,170) (414,549) (498,244) (69,552)
----------- ------------- ------------- ----------- ------------- -------------
Selling expenses (46,825) (52,455) (7,322) (91,030) (99,775) (13,928)
General and
administrative
expenses (49,669) (26,258) (3,665) (72,301) (48,163) (6,723)
Research and
development
expenses (18,099) (15,970) (2,229) (32,479) (29,441) (4,110)
----------- ------------- ------------- ----------- ------------- -------------
Total operating
costs and
expenses (308,947) (382,444) (53,386) (610,359) (675,623) (94,313)
----------- ------------- ------------- ----------- ------------- -------------
Operating
profit/(loss) (25,996) 14,302 1,997 (17,096) 4,912 686
----------- ------------- ------------- ----------- ------------- -------------
Other
income/(expenses)
Interest income,
net 1,096 770 107 2,320 1,445 202
Unrealized
exchange
(loss)/income 49 (622) (87) (244) (769) (107)
Investment loss (1,511) (1,583) (221) (3,836) (1,369) (191)
Others, net 2,954 446 62 4,904 1,182 165
----------- ------------- ------------- ----------- ------------- -------------
Profit/(Loss)
before income tax
expense, and share
of (loss)/income
of equity method
investee (23,408) 13,313 1,858 (13,952) 5,401 755
Share of
(loss)/income of
equity method
investee 345 (211) (29) (422) (1,671) (233)
Income tax expense - (3,272) (457) - (3,424) (478)
----------- ------------- ------------- ----------- ------------- -------------
Net profit/(loss) (23,063) 9,830 1,372 (14,374) 306 44
----------- ------------- ------------- ----------- ------------- -------------
Net (loss)/profit
attributable to
non-controlling
interests 286 (1,046) (146) 2,067 (1,983) (277)
----------- ------------- ------------- ----------- ------------- -------------
Net profit/(loss)
attributable to
common
shareholders (23,349) 10,876 1,518 (16,441) 2,289 321
----------- ------------- ------------- ----------- ------------- -------------
Net profit/(loss) (23,063) 9,830 1,372 (14,374) 306 44
Foreign
currency
translation
adjustment,
net of tax (2,623) (1,023) (143) (1,124) (470) (66)
----------- ------------- ------------- ----------- ------------- -------------
Comprehensive
profit/(loss) (25,686) 8,807 1,229 (15,498) (164) (22)
----------- ------------- ------------- ----------- ------------- -------------
Comprehensive
(loss)/income
attributable to
non-controlling
interests 286 (1,046) (146) 2,067 (1,983) (277)
----------- ------------- ------------- ----------- ------------- -------------
Comprehensive
income/(loss)
attributable to
Huize Holding
Limited (25,972) 9,853 1,375 (17,565) 1,819 255
----------- ------------- ------------- ----------- ------------- -------------
Weighted average
number of common
shares used in
computing net loss
per share
Basic and diluted 991,124,813 1,008,857,623 1,008,857,623 991,969,450 1,008,857,623 1,008,857,623
Net profit/(loss)
per share
attributable to
common
shareholders
Basic and diluted (0.02) 0.01 0.00 (0.02) 0.00 0.00
Huize Holding Limited
Unaudited Reconciliations of GAAP and Non-GAAP Results
(all amounts in thousands, except for share and per
share data)
For the Three Months Ended For the Six Months Ended June
June 30, 30,
---------------------------- --------------------------------
2024 2025 2024 2025
----------- --------------- ----------- -------------------
RMB RMB USD RMB RMB USD
Net
profit/(loss)
attributable to
common
shareholders (23,349) 10,876 1,518 (16,441) 2,289 320
Share-based
compensation
expenses 10,355 (3,276) (457) 7,797 (5,630) (786)
Non-GAAP net
profit/(loss)
attributable to
common
shareholders (12,994) 7,600 1,061 (8,644) (3,341) (466)
------- ------ ----- ------- ------ ----
___________________________
(1) Non-GAAP net profit attributable to common shareholders is a non-GAAP financial measure. For more information, please see the section of "Use of Non-GAAP Financial Measure Statement" and the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release.
(END) Dow Jones Newswires
September 12, 2025 05:00 ET (09:00 GMT)