Huize Provides Update on its Status under the Holding Foreign Companies Accountable Act
May 05 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 the Company
is aware of the fact that it was identified by the United
States Securities and Exchange Commission (the “SEC”) under
the Holding Foreign Companies Accountable Act of the United
States (the “HFCAA”) on May 4, 2022. Such identification
may have resulted from the Company’s filing of the annual report on
Form 20-F for the fiscal year ended December 31, 2021.
The Company understands that the SEC made such
identification pursuant to the HFCAA and its implementation rules
issued thereunder. This indicates that the SEC has
determined the Company used an auditor, whose working paper cannot
be inspected or investigated completely by the Public Company
Accounting Oversight Board of the United States (the
“PCAOB”), to issue the audit opinion for the Company’s financial
statements for the fiscal year ended December 31, 2021.
In accordance with the HFCAA, the SEC shall prohibit a company’s
shares or American depositary shares from being traded on a U.S.
stock exchange or in the over-the-counter trading market in the
United States if such company has been identified by
the SEC for three consecutive years due to PCAOB’s
inability to inspect the auditor working paper related to such
company.
The Company has been actively exploring possible solutions to
best protect the interest of its stakeholders. The Company will
continue to comply with applicable laws and regulations in
both China and the U.S.
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.
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
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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