Huize Holding Limited Announces Termination of Acquisition of Shengs Life & General
January 14 2022 - 3:00AM
Huize Holding Limited, (“Huize” or the “Company”) (NASDAQ: HUIZ), a
leading digital insurance product and service platform for new
generation consumers in China, today announced that it has notified
Hubei Shengs Life & General Insurance Agency Co., Ltd. (“Shengs
Life & General”) and its shareholders of the termination of the
previously announced acquisition of a controlling equity interest
in Shengs Life & General (the “Acquisition”). Pursuant to the
transaction documents of the Acquisition, the Company is exercising
its right to terminate the Acquisition with ten working days prior
notice due to delays in the closing. The termination of the
Acquisition will become effective on January 28, 2022. The Company
will not incur any termination fees in connection with the
termination of the Acquisition.
As previously announced, on September 24, 2021,
the Company, through Shenzhen Zhixuan Wealth Investment Management
Co., Ltd., a wholly-owned subsidiary of the Company’s consolidated
variable interest entity, entered into a definitive agreement to
acquire a controlling equity interest in Shengs Life &
General.
About Huize Holding Limited
Huize Holding Limited is a leading digital
insurance product and service platform for new generation consumers
in China. Targeting the younger generation, Huize is dedicated to
serving its insurance clients for their life-long insurance needs.
Leveraging its online platform, Huize offers a wide variety of
insurance products with a focus on long-term life and health
insurance products, and empowers its insurer partners to reach a
large fragmented client base in the insurance retail market
efficiently and enhance their insurance sales. Huize provides
insurance clients with digitalized insurance experience and
services, including suitable product recommendations, consulting
service, intelligent underwriting, and assistance in claim
application and settlement, which significantly improve transaction
experience.
For investor and media inquiries, please
contact:
Investor RelationsHarriet HuInvestor Relations
Director+852 3180 9207investor@huize.com
Media Relationsmediacenter@huize.com
ChristensenIn ChinaMs. Jasmine ZhuPhone: +852
2117 0861Email: jasminezhu@christensenir.com
In U.S.Ms. Linda BergkampPhone:
+1-480-614-3004Email: lbergkamp@christensenir.com
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