Huize Announces US$5 Million Share Repurchase Program
March 18 2022 - 5:00AM
Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ:
HUIZ), a leading digital insurance product and service platform for
new generation consumers in China, today announced that its
Board of Directors (“the Board”) has authorized a share repurchase
program under which Huize may repurchase up to US$5 million of its
Class A common shares in the form of American depositary shares
over the next 12 months, subject to relevant rules under the
Securities Exchange Act of 1934, as amended, and Huize’s insider
trading policy.
Mr. Cunjun Ma, Chairman and Chief Executive
Officer of Huize, commented, “The Board’s decision to authorize the
share repurchase program is aligned with our commitment to return
value to our shareholders and reflects the confidence we have in
Huize’s long-term growth prospects. We believe that the current
market conditions provide us with an opportunity to strategically
allocate capital to enhance shareholder value while maintaining
resources to fund our operations and continued business
growth.”
The share repurchases may be made from time to
time in the open market at prevailing market prices, in privately
negotiated transactions, in block trades and/or through other
legally permissible means, depending on market conditions and in
accordance with applicable rules and regulations. Huize’s board of
directors will review the share repurchase program periodically and
may authorize adjustment of its terms and size. The Company expects
to fund repurchases made under this program from its existing cash
balance.
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 more information, please visit http://ir.huize.com.
For investor and media inquiries, please
contact:
Investor RelationsMs. Harriet HuInvestor
Relations Director+852 3180 9207investor@huize.com
Media Relationsmediacenter@huize.com
Christensen
In 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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