Huize Announces 2020 Third Quarter Results

GWP and Total Operating Revenue Achieved Double-Digit YOY GrowthHitting Record Quarterly HighsA Results Highlights:

GWP facilitated on our platform increased by 41.2% to a record quarterly high ofA RMB779.0 million, compared toA RMB551.8 millionA in the third quarter of 2019.

Total operating revenue increased by 22.9% to a record quarterly high ofA RMB348.5 millionA (US$51.3 million), compared toA RMB283.6 millionA in the third quarter of 2019.

GWP of long-term life and health insurance products accounted for approximately 92.9% of total GWP facilitated, compared to 87.5% in the third quarter of 2019.

Cumulative number of insurance clients served was approximately 6.7 million, and cumulative number of insured clients was approximately 56.0 million as ofA September 30, 2020.

Net profit wasA RMB14.7 millionA (US$2.2 million). Non-GAAP net profit1A wasA RMB20.4 millionA (US$3.0 million).

HONG KONG, Nov. 20, 2020 /PRNewswire/ -- Huize Holding Limited ("Huize" or the "Company", NASDAQ: HUIZ), a leading independent online insurance product and service platform in China, is pleased to announce its unaudited financial results for the three months ended September 30, 2020 (the "third quarter of 2020" or the "Period").For the third quarter of 2020, the Company achieved double-digit year-over-year growth in both total Gross Written Premiums ("GWP") and total operating revenue, hitting record quarterly highs. Total GWP facilitated on the Company's platform increased by 41.2% year over year to RMB779.0 million, while total operating revenue increased by 22.9% year over year to RMB348.5 million, once again exceeding the high end of its previously announced guidance range. Net profit in the Period wasA RMB14.7 millionA (US$2.2 million) and Non-GAAP net profit wasA RMB20.4 millionA (US$3.0 million).
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