Huize Holding Limited (“Huize”, the “Company” or “we”) (NASDAQ:
HUIZ), a leading insurance technology platform connecting
consumers, insurance carriers and distribution partners digitally
through data-driven and AI-powered solutions in China, today
announced its unaudited financial results for the fourth quarter
and full year ended December 31, 2023.
Full Year 2023 Financial and Operational
Highlights
- Sustainable
business resilience: Gross Written Premiums (“GWP”)
facilitated on our platform for the full year of 2023 increased by
18.2% year-over-year to RMB5,800.9 million. Within GWP, First Year
Premiums (“FYP”) accounted for RMB2,621.7 million, up 42.0%
year-over-year. Renewal premiums increased by 3.9% year-over-year
to RMB3,179.2 million. The increases in premiums reflect the
success we have had in acquiring high-quality and loyal customers
and expanding the wide spectrum of customized long-term insurance
products we offer to meet the diverse protection needs of our
clients, as well as the contribution of international revenue from
our expansion into the Hong Kong market in the second half of
2023.
- Ongoing
cost optimization to improve profitability: Operating
expenses for the full year of 2023 decreased by 15.4%
year-over-year to RMB395.5 million from RMB467.3 million in 2022.
Operating expense-to-revenue ratio improved to 33.1% in 2023, a
decrease of 7.3 percentage points year-over-year. We achieved a net
profit of RMB70.2 million, and a non-GAAP net profit of RMB72.3
million for the full year of 2023, exceeding our guidance of RMB60
million.
- Cumulative
number of insurance clients served increased to
approximately 9.3 million as of December 31, 2023. We cooperated
with 123 insurer partners, including 76 life and
health insurance companies and 47 property and casualty insurance
companies, as of December 31, 2023.
- As of December 31,
2023, our cash and cash equivalents were RMB249.3
million (US$35.1 million).
Mr. Cunjun Ma, Founder and CEO of Huize, said,
“We are very pleased to report our fifth consecutive quarter of
profitability, with net profit of RMB18.0 million and non-GAAP net
profit of RMB16.4 million in the fourth quarter of 2023. Our net
profit and non-GAAP net profit for the full year of 2023 reached
RMB70.2 million and RMB72.3 million respectively, exceeding our
guidance. These results are a testament to the successes we have
had in acquiring high-quality customers, innovating products that
meet the evolving demands of customers, optimizing our omnichannel
distribution capabilities to integrate online and offline channels,
and also our successful expansion into the international market
marked by our entry into the Hong Kong market in the second half of
2023.”
“In 2023, we maintained our strategic focus on
long-term insurance products with GWP contribution reaching 92.3%.
FYP for our long-term life insurance and annuity products surged
55% year-over-year to RMB1,651.9 million, highlighting our ability
to capture the increasing market demand for savings products. We
also increased the average ticket size of our long-term savings
insurance products in the fourth quarter to RMB59,000, up 30%
year-over-year, primarily driven by our focus on acquiring
high-quality mass affluent customers and upselling existing
customers with high LTV potential, as well as the success of our
Hong Kong business expansion contributing high-value international
product sales. Our high-quality customer base also helped sustain
our persistency ratio for long-term life and health insurance
products at the industry’s highest levels. As of the end of
December 2023, the 13th and 25th-month persistency ratios stood at
above 95%.”
“FYP facilitated by our IFA (Independent
Financial Advisers) platform business increased by 73.4%
year-over-year to RMB354.3 million during 2023. In our
direct-to-consumer segment, we strengthened our user engagement to
enhance customer retention, improved our upselling capabilities and
repeat purchase rates, and further optimized customer acquisition
costs. The repeat purchase rate of our long-term insurance product
customers was 36.9% in 2023. As we continue to grow our customer
base, we remain highly committed to deepening our engagement with
existing customers. Throughout the year, we served more than one
million families with over 11 million insurance policies and
assisted with 92,000 insurance claims, amounting to a total claim
settlement of RMB570 million.”
“Looking ahead, Huize is committed to
capitalizing on the long-term growth opportunities of the insurance
industry in China and Asia. We will enhance our ability to
customize differentiated products for a variety of scenarios and
strengthen our expertise in integrating online and offline product
distribution and services for our ecosystem in our home market. We
will continue to invest in our market expansion in Hong Kong and
also actively pursue opportunities in the emerging markets of
Southeast Asia. Our goal is to identify addressable growth markets
with supportive demographics in Southeast Asia and replicate our
proven business model, further diversify our revenue streams to
more markets, and elevate our brand awareness and recognition on
the international stage. We are targeting a double-digit percentage
revenue contribution from international markets in 2024. At the
same time, we have been investing in our own proprietary AI large
language model and will strive to integrate our AI products
throughout the entire insurance service chain to empower our
business operations and ecosystem partners, which include insurance
carriers, independent agents, and distribution channels, from the
initial insurance product consultation to user engagement,
marketing, risk management, customer service and claims
service.”
Fourth Quarter 2023 Financial Results
GWP and operating revenue
GWP facilitated on our platform was RMB1,245.4 million (US$175.4
million) in the fourth quarter of 2023, a decrease of 14.1% from
RMB1,449.1 million in the same period of 2022. Of the GWP
facilitated in the fourth quarter of 2023, FYP accounted for
RMB418.6 million (or 33.6% of total GWP), an increase of 0.5%
year-over-year. Renewal premiums accounted for RMB826.7 million (or
66.4% of total GWP), a decrease of 19.9% year-over-year.
Operating revenue was RMB236.0 million (US$33.2
million) in the fourth quarter of 2023, a decrease of 8.7% from
RMB258.4 million in the same period of 2022. The decrease was
primarily driven by the decline in GWP facilitated.
Operating costs
Operating costs were RMB136.3 million (US$19.2
million) in the fourth quarter of 2023, a decrease of 16.0% from
RMB162.2 million in the same period of 2022. Operating costs
decreased at a faster pace than operating revenue, primarily due to
a reduction in channel expenses.
Operating expenses
Selling expenses decreased by 0.7%
year-over-year to RMB41.5 million (US$5.8 million) in the fourth
quarter of 2023, compared with RMB41.8 million in the same period
of 2022, which was primarily due to a decrease in salaries and
employment benefits, partly offset by an increase in advertising
and marketing expenses, as well as rental and utilities
expenses.
General and administrative expenses were RMB27.3
million (US$3.8 million) in the fourth quarter of 2023, a decrease
of 29.3% from RMB38.6 million in the same period of 2022. This
decrease was primarily due to a decline in rental and utilities
expenses, share-based compensation expenses and salaries and
employment benefits.
Research and development expenses were RMB17.2
million (US$2.4 million) in the fourth quarter of 2023, an increase
of 2.0% from RMB16.9 million in the same period of 2022, primarily
due to an increase in salaries and employment benefits, partly
offset by a decrease in outsourcing labor costs and technology
service fee.
Net profit and Non-GAAP net profit for
the period
Net profit in the fourth quarter of 2023 was RMB18.0 million
(US$2.5 million), up 120.1% from RMB8.2 million in the same period
of 2022. Non-GAAP net profit increased by 15.9% to RMB16.4 million
(US$2.3 million) in the fourth quarter of 2023, compared with
RMB14.1 million in the same period of 2022.
Full Year 2023 Financial Results
GWP and operating revenue
GWP facilitated was RMB5,800.9 million in 2023, an increase of
18.2% from RMB4,907.8 million in 2022. Of the GWP facilitated in
2023, FYP accounted for RMB2,621.7 million (or 45.2% of total GWP),
an increase of 42.0% year-over-year. Renewal premiums accounted for
RMB3,179.2 million (or 54.8% of total GWP), an increase of 3.9%
year-over-year.
Operating revenue was RMB1,195.6 million
(US$168.4 million) in 2023, an increase of 3.3% from RMB1,157.9
million in 2022. The increase in operating revenue was primarily
driven by the increase in the FYP facilitated.
Operating costs
Operating costs were RMB749.0 million (US$105.5
million) in 2023, an increase of 2.0% from RMB734.3 million in
2022. Operating costs increased at a slower pace than operating
revenue, reflecting our tight control on channel expenses and
increasing upselling activities.
Operating expenses
Selling expenses were RMB204.3 million (US$28.8
million) in 2023, a decrease of 11.8% from RMB231.7 million in
2022, which was primarily due to a decrease in salaries and
employment benefits.
General and administrative expenses were
RMB119.4 million (US$16.8 million) in 2023, a decrease of 22.8%
from RMB154.7 million in 2022. This decrease was primarily due to a
reduction in rental and utilities expenses, share-based
compensation expenses, salaries and employment benefits and
directors and officers’ liability insurance premiums.
Research and development expenses were RMB71.8
million (US$10.1 million) in 2023, a decrease of 11.2% from RMB80.9
million in 2022, primarily due to a decrease in technology service
fee and outsourcing labor costs.
Net profit and Non-GAAP net profit for
the year
Net profit in 2023 was RMB70.2 million (US$9.9
million), compared to a net loss of RMB31.2 million in 2022.
Non-GAAP net profit in 2023 was RMB72.3 million (US$10.2 million),
compared to a non-GAAP net loss of RMB20.8 million in 2022.
Cash and cash equivalents
As of December 31, 2023, the combined balance of
the Company’s cash and cash equivalents amounted to RMB249.3
million (US$35.1 million), compared to RMB277.2 million as of
December 31, 2022.
Share Repurchase Program
As of December 31, 2023, the Company had purchased an aggregate
of 1,516,667 ADSs for a total amount of approximately US$1.9
million, under its share repurchase program, pursuant to which the
Company has been authorized to repurchase up to US$5 million ADSs
by March 17, 2024, as previously announced on March 17, 2023. On
March 20, 2024, the Company announced a new share repurchase
program under which it is authorized to repurchase up to US$5
million ADSs over the next 12 months.
Conference Call
The Company’s management team will hold an
earnings conference call at 8:00 A.M. Eastern Time on Wednesday,
March 20, 2024 (8:00 P.M. Beijing/Hong Kong Time on Wednesday,
March 20, 2024). Details for the conference call are as
follows:
Event Title: Huize Holding Limited’s Fourth
Quarter and Full Year 2023 Earnings Conference CallRegistration
Link:
https://register.vevent.com/register/BI9f2357ef4abf4db29f2305d91b911828
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 China. 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.
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 and
interest on convertible bond. 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 and the interest on
convertible bond. 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 RMB7.0999 to US$1.00, the exchange rate on
December 29, 2023, 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 Relationsinvestor@huize.com
Media Relationsmediacenter@huize.com
Christensen AdvisoryIn ChinaMs. Crystal
LaiPhone: +852 2117 0861Email: crystal.lai@christensencomms.com
In U.S.Ms. Linda BergkampPhone: +1-480-614-3004Email:
linda.bergkamp@christensencomms.com
|
Huize Holding Limited |
Unaudited Consolidated Balance Sheets |
(all amounts in thousands, except for share and per share
data) |
|
|
|
As of December 31 |
|
As of December 31 |
|
|
2022 |
|
2023 |
|
|
|
RMB |
|
RMB |
|
USD |
Assets |
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
Cash and cash equivalents |
|
277,168 |
|
|
249,258 |
|
|
35,107 |
|
Restricted cash |
|
98,917 |
|
|
42,307 |
|
|
5,959 |
|
Short-term investments |
|
- |
|
|
8,879 |
|
|
1,251 |
|
Contract assets, net of allowance for doubtful accounts |
|
49,888 |
|
|
41,481 |
|
|
5,842 |
|
Accounts receivables, net of allowance for impairment |
|
250,667 |
|
|
178,294 |
|
|
25,112 |
|
Insurance premium receivables |
|
1,792 |
|
|
927 |
|
|
130 |
|
Amounts due from related parties |
|
489 |
|
|
383 |
|
|
54 |
|
Deferred costs |
|
- |
|
|
6,147 |
|
|
866 |
|
Prepaid expense and other receivables |
|
71,818 |
|
|
79,027 |
|
|
11,131 |
|
Total current assets |
|
750,739 |
|
|
606,703 |
|
|
85,452 |
|
|
|
|
|
|
|
|
Non-current assets |
|
|
|
|
|
|
Restricted cash |
|
- |
|
|
29,687 |
|
|
4,181 |
|
Contract assets, net of allowance for doubtful accounts |
|
6,634 |
|
|
12,495 |
|
|
1,760 |
|
Property, plant and equipment, net |
|
38,518 |
|
|
54,107 |
|
|
7,621 |
|
Intangible assets, net |
|
53,498 |
|
|
50,743 |
|
|
7,147 |
|
Long-term investments |
|
77,305 |
|
|
76,688 |
|
|
10,801 |
|
Operating lease right-of-use assets |
|
162,180 |
|
|
115,946 |
|
|
16,331 |
|
Goodwill |
|
461 |
|
|
461 |
|
|
65 |
|
Other assets |
|
279 |
|
|
419 |
|
|
59 |
|
Total non-current assets |
|
338,875 |
|
|
340,546 |
|
|
47,965 |
|
Total assets |
|
1,089,614 |
|
|
947,249 |
|
|
133,417 |
|
|
|
|
|
|
|
|
Liabilities, Mezzanine Equity and Shareholders’
Equity |
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
Short-term borrowings |
|
150,000 |
|
|
30,000 |
|
|
4,225 |
|
Accounts payable |
|
262,266 |
|
|
211,905 |
|
|
29,846 |
|
Insurance premium payables |
|
27,567 |
|
|
37,514 |
|
|
5,284 |
|
Contract liabilities |
|
4,034 |
|
|
2,728 |
|
|
384 |
|
Other payables and accrued expenses |
|
58,251 |
|
|
35,093 |
|
|
4,943 |
|
Payroll and welfare payable |
|
43,938 |
|
|
56,207 |
|
|
7,917 |
|
Income taxes payable |
|
2,440 |
|
|
2,440 |
|
|
344 |
|
Operating lease liabilities |
|
10,075 |
|
|
16,949 |
|
|
2,387 |
|
Amount due to related parties |
|
495 |
|
|
2,451 |
|
|
345 |
|
Total current liabilities |
|
559,066 |
|
|
395,287 |
|
|
55,675 |
|
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
|
Deferred tax liabilities |
|
12,491 |
|
|
12,048 |
|
|
1,697 |
|
Operating lease liabilities |
|
176,032 |
|
|
129,299 |
|
|
18,211 |
|
Payroll and welfare payable |
|
- |
|
|
200 |
|
|
28 |
|
Total non-current liabilities |
|
188,523 |
|
|
141,547 |
|
|
19,936 |
|
Total liabilities |
|
747,589 |
|
|
536,834 |
|
|
75,611 |
|
|
|
|
|
|
|
|
Commitments and
contingencies |
|
|
|
|
|
|
Shareholders’
equity |
|
|
|
|
|
|
Class A common shares |
|
62 |
|
|
62 |
|
|
9 |
|
Class B common shares |
|
10 |
|
|
10 |
|
|
1 |
|
Treasury stock |
|
(15,306 |
) |
|
(28,580 |
) |
|
(4,025 |
) |
Additional paid-in capital |
|
904,935 |
|
|
905,958 |
|
|
127,602 |
|
Accumulated other comprehensive loss |
|
(17,695 |
) |
|
(14,060 |
) |
|
(1,980 |
) |
Accumulated deficits |
|
(531,127 |
) |
|
(458,237 |
) |
|
(64,541 |
) |
Total shareholders’
equity attributable to Huize Holding Limited
shareholders |
|
340,879 |
|
|
405,153 |
|
|
57,066 |
|
Non-controlling interests |
|
1,146 |
|
|
5,262 |
|
|
740 |
|
Total shareholders’
equity |
|
342,025 |
|
|
410,415 |
|
|
57,806 |
|
Total liabilities and
shareholders’ equity |
|
1,089,614 |
|
|
947,249 |
|
|
133,417 |
|
|
Huize Holding Limited |
Unaudited Consolidated Statements of Comprehensive
Income/(Loss) |
(all amounts in thousands, except for share and per share
data) |
|
|
|
For the Three Months Ended December 31, |
|
For the Twelve Months Ended December 31, |
|
|
2022 |
|
2023 |
|
|
2022 |
|
2023 |
|
|
|
RMB |
|
RMB |
|
USD |
|
RMB |
|
RMB |
|
USD |
Operating
revenue |
|
|
|
|
|
|
|
|
|
|
|
|
Brokerage income |
|
246,496 |
|
|
221,504 |
|
|
31,198 |
|
|
1,108,652 |
|
|
1,144,533 |
|
|
161,204 |
|
Other income |
|
11,915 |
|
|
14,503 |
|
|
2,043 |
|
|
49,256 |
|
|
51,019 |
|
|
7,186 |
|
Total operating
revenue |
|
258,411 |
|
|
236,007 |
|
|
33,241 |
|
|
1,157,908 |
|
|
1,195,552 |
|
|
168,390 |
|
Operating costs and
expenses |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
(158,355 |
) |
|
(132,006 |
) |
|
(18,593 |
) |
|
(706,009 |
) |
|
(729,068 |
) |
|
(102,686 |
) |
Other cost |
|
(3,855 |
) |
|
(4,275 |
) |
|
(602 |
) |
|
(28,282 |
) |
|
(19,938 |
) |
|
(2,808 |
) |
Total operating
costs |
|
(162,210 |
) |
|
(136,281 |
) |
|
(19,195 |
) |
|
(734,291 |
) |
|
(749,006 |
) |
|
(105,494 |
) |
Selling expenses |
|
(41,814 |
) |
|
(41,510 |
) |
|
(5,847 |
) |
|
(231,664 |
) |
|
(204,261 |
) |
|
(28,770 |
) |
General and administrative expenses |
|
(38,611 |
) |
|
(27,301 |
) |
|
(3,845 |
) |
|
(154,715 |
) |
|
(119,404 |
) |
|
(16,818 |
) |
Research and development expenses |
|
(16,891 |
) |
|
(17,222 |
) |
|
(2,426 |
) |
|
(80,911 |
) |
|
(71,842 |
) |
|
(10,119 |
) |
Total operating costs
and expenses |
|
(259,526 |
) |
|
(222,314 |
) |
|
(31,313 |
) |
|
(1,201,581 |
) |
|
(1,144,513 |
) |
|
(161,201 |
) |
Operating
income/(loss) |
|
(1,115 |
) |
|
13,693 |
|
|
1,928 |
|
|
(43,673 |
) |
|
51,039 |
|
|
7,189 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
income/(expenses) |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expenses |
|
(593 |
) |
|
492 |
|
|
69 |
|
|
(5,062 |
) |
|
2,789 |
|
|
393 |
|
Unrealized exchange income/(loss) |
|
16 |
|
|
(127 |
) |
|
(18 |
) |
|
(79 |
) |
|
(436 |
) |
|
(61 |
) |
Investment income/(loss) |
|
1 |
|
|
(728 |
) |
|
(103 |
) |
|
(2,216 |
) |
|
(1,656 |
) |
|
(233 |
) |
Others, net |
|
8,419 |
|
|
4,090 |
|
|
576 |
|
|
19,490 |
|
|
18,401 |
|
|
2,592 |
|
Profit/(loss) before
income tax, and share of income/(loss) of equity method
investee |
|
6,728 |
|
|
17,420 |
|
|
2,452 |
|
|
(31,540 |
) |
|
70,137 |
|
|
9,880 |
|
Share of income/(loss) of equity method investee |
|
833 |
|
|
52 |
|
|
7 |
|
|
(2,200 |
) |
|
417 |
|
|
59 |
|
Net
profit/(loss) |
|
7,561 |
|
|
17,472 |
|
|
2,459 |
|
|
(33,740 |
) |
|
70,554 |
|
|
9,939 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit/(loss)
attributable to non-controlling interests |
|
(611 |
) |
|
(515 |
) |
|
(73 |
) |
|
(2,553 |
) |
|
366 |
|
|
52 |
|
Net profit/(loss)
attributable to common shareholders |
|
8,172 |
|
|
17,987 |
|
|
2,532 |
|
|
(31,187 |
) |
|
70,188 |
|
|
9,887 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
profit/(loss) |
|
7,561 |
|
|
17,472 |
|
|
2,459 |
|
|
(33,740 |
) |
|
70,554 |
|
|
9,939 |
|
Foreign currency translation adjustment, net of tax |
|
(3,551 |
) |
|
(4,854 |
) |
|
(684 |
) |
|
9,600 |
|
|
3,635 |
|
|
512 |
|
Comprehensive
income/(loss) |
|
4,010 |
|
|
12,618 |
|
|
1,775 |
|
|
(24,140 |
) |
|
74,189 |
|
|
10,451 |
|
Comprehensive
income/(loss) attributable to non-controlling
interests |
|
(611 |
) |
|
(515 |
) |
|
(73 |
) |
|
(2,553 |
) |
|
366 |
|
|
52 |
|
Comprehensive
income/(loss) attributable to common shareholders |
|
4,621 |
|
|
13,133 |
|
|
1,848 |
|
|
(21,587 |
) |
|
73,823 |
|
|
10,399 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of common shares used in computing net profit per
share |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
1,020,675,722 |
|
|
991,808,483 |
|
|
991,808,483 |
|
|
1,021,958,881 |
|
|
1,000,940,698 |
|
|
1,000,940,698 |
|
Net profit/(loss) per
share attributable to common shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
0.01 |
|
|
0.02 |
|
|
0.00 |
|
|
(0.03 |
) |
|
0.07 |
|
|
0.01 |
|
|
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 December 31, |
|
For the Twelve Months Ended December 31, |
|
|
2022 |
|
2023 |
|
2022 |
|
2023 |
|
|
RMB |
|
RMB |
|
USD |
|
RMB |
|
RMB |
|
USD |
Net profit/(loss) attributable to common
shareholders |
|
8,172 |
|
17,987 |
|
|
2,532 |
|
|
(31,187 |
) |
|
70,188 |
|
9,887 |
Share-based compensation expenses |
|
5,964 |
|
(1,600 |
) |
|
(225 |
) |
|
10,411 |
|
|
2,109 |
|
297 |
Non-GAAP net
profit/(loss) attributable to common shareholders |
|
14,136 |
|
16,387 |
|
|
2,307 |
|
|
(20,776 |
) |
|
72,297 |
|
10,184 |
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