Huize Holding Ltd. ( (HUIZ) ) has released its Q4 earnings. Here is a breakdown of the information Huize Holding Ltd. presented to its investors.
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Huize Holding Limited is a leading insurance technology platform in Asia, offering digital solutions to connect consumers, insurance carriers, and distribution partners. The company focuses on serving mass affluent consumers with a comprehensive range of insurance products and services.
In its latest financial report, Huize Holding Limited announced record-high gross written premiums (GWP) and first year premiums (FYP) for the full year 2024. The company also highlighted its successful international expansion, with international revenue contributing 18% to the total revenue.
Key financial metrics for 2024 include a GWP of RMB6,158.6 million, a 6.2% increase from the previous year, and an FYP of RMB3,421.0 million, up 30.5% year-over-year. Despite these achievements, the company reported a net loss attributable to common shareholders of RMB0.6 million for the year. The international business segment emerged as a significant growth driver, with plans to enter new markets in Southeast Asia.
Looking ahead, Huize remains focused on its international expansion strategy and leveraging AI technology to enhance customer experience and operational efficiency. The company aims to increase its international revenue contribution to 30% by 2026, positioning itself to capitalize on opportunities in the Southeast Asian market.