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 its unaudited
financial results for the third quarter ended September 30, 2022.
Third Quarter 2022 Financial and
Operational Highlights
- Strong
business performance: Gross Written Premiums (“GWP”)
facilitated on our platform in the third quarter of 2022 increased
by 29.4% to RMB1,249.0 million from RMB965.5 million in the third
quarter of 2021. First-year premiums (“FYP”) and renewal premiums
facilitated on our platform in the third quarter of 2022 increased
by 34.0% and 24.1% to RMB684.9 million and RMB564.1 million from
RMB510.9 million and RMB454.6 million in the third quarter of 2021,
respectively.
- Solid
revenue growth with effective cost control: Operating
revenue increased by 11.6% year-over-year to RMB351.8 million in
the third quarter of 2022 from RMB315.1 million in the third
quarter of 2021. Operating expenses decreased by 27.7%
year-over-year to RMB115.9 million in the third quarter of 2022
from RMB160.4 million in the same period of 2021.
- As of September 30,
2022, our cash and cash equivalents amounted to
RMB307.4 million (US$43.2 million).
- Cumulative
number of insurance clients served increased to
approximately 8.3 million, in the third quarter of 2022. We
cooperated with 106 insurer partners, including 62
life and health insurance companies and 44 property & casualty
insurance companies, as of September 30, 2022.
Mr. Cunjun Ma, Founder and CEO of Huize,
commented, “We are very pleased to report another strong quarter of
resilient revenue growth and financial results despite the
challenging macro environment and softening life insurance market.
Our FYP and total revenue increased by 34.0% and 11.6%
year-over-year, respectively, in the third quarter of 2022. These
remarkable results were driven by our proven operational expertise
and industry-leading digitalization capabilities, which enable us
to satisfy the lifetime insurance needs of emerging middle-class
consumers and empower the entire insurance industry value chain. We
also benefited from our successful execution of the ongoing cost
savings and the group-wide organizational structure optimization,
which yielded a 27.7% year-over-year decrease in operating expenses
during the quarter.
Capitalizing on our strengths in product
innovation and our proactive response to evolving customer needs,
we continued to co-develop various long-term customized savings and
protection products. In the third quarter, GWP for co-developed
insurance products accounted for 72.9% of the total GWP facilitated
on our platform. The GWP contribution from our long-term insurance
products surpassed 90% for the twelfth consecutive quarter. We
expect to achieve profitability in the final quarter of 2022 on the
strength of our rejuvenated revenue growth and improving
operational efficiency.
We also continued to make good progress on
executing our three-year “Agents, Businesses, Customers (ABC)”
strategic business plan. In the “To-C” segment, we continued to
acquire new customers and increase engagement with our existing
customers through new products and service upgrades, driving an
average third quarter ticket size of over RMB40,000 in FYP for our
long-term savings products. In the “To-B” segment, we continued to
drive the in-depth digital transformation of the industry, with
total revenue contribution of our technology service business
reaching RMB13.7 million in the first nine months of 2022. In terms
of agents, we saw encouraging progress from our first independent
agent store in Shenzhen and continued to empower our premium
insurance agents with diversified product offerings, digital
business tools, and customer service support. FYP facilitated by
the “To-A” business was approximately RMB120 million in the first
nine months of 2022. Going forward, we believe the “ABC” business
plan will position us firmly in the top tier of insurance
intermediaries in China, empowering us to strategically allocate
capital to enhance shareholder value and sustain the high-quality
long-term growth of our business.”
Third Quarter 2022 Financial Results
GWP and operating revenue
GWP facilitated on our platform was RMB1,249.0 million (US$175.6
million) in the third quarter of 2022, an increase of 29.4% from
RMB965.5 million in the same period of 2021. Of the GWP facilitated
in the third quarter of 2022, first year premiums (“FYP”) accounted
for RMB684.9 million (or 54.8% of total GWP), an increase of 34.0%
year-over-year. Renewal premiums accounted for RMB564.1 million (or
45.2% of total GWP), an increase of 24.1% year-over-year.
Operating revenue was RMB351.8 million (US$49.5
million) in the third quarter of 2022, an increase of 11.6% from
RMB315.1 million in the same period of 2021. The increase was
primarily driven by the increase in FYP facilitated.
Operating costs
Operating costs were RMB248.7 million (US$35.0
million) in the third quarter of 2022, an increase of 6.7% from
RMB233.0 million in the same period of 2021. The increase was
primarily due to higher marketing channel cost and was more
moderate than the increase in operating revenue.
Operating expenses
Selling expenses decreased by 32.4%
year-over-year to RMB56.4 million (US$7.9 million) in the third
quarter of 2022, compared with RMB83.4 million in the same period
of 2021, which was primarily due to a decrease in advertising and
marketing expenses, and to a lesser extent, a decrease in salaries
and employment
benefits. General
and administrative expenses were RMB43.1 million (US$6.1 million)
in the third quarter of 2022, a decrease of 8.7% from RMB47.2
million in the same period of 2021. This decrease was primarily due
to a decrease in salaries and employment benefits, offset by an
increase in share-based compensation expenses.
Research and development expenses were RMB16.4
million (US$2.3 million) in the third quarter of 2022, a decrease
of 45.0% from RMB29.8 million in the same period of 2021, primarily
due to a decrease in personnel costs.
Net loss attributable to common
shareholders and Non-GAAP net loss attributable to common
shareholders
Net loss in the third quarter of 2022 was RMB10.5 million
(US$1.5 million), down substantially from a net loss of RMB78.9
million in the same period of 2021. Non-GAAP net loss in the third
quarter of 2022 was RMB9.8 million (US$1.4 million), compared to
non-GAAP net loss of RMB86.6 million in the same period of
2021.
Cash and cash equivalents
As of September 30, 2022, the combined balance
of the Company’s cash and cash equivalents amounted to RMB307.4
million (US$43.2 million), compared to RMB381.2 million as of
December 31, 2021.
Share Repurchase Program
As of September 30, 2022, the Company had purchased an aggregate
of 381,959 ADSs for a total amount of approximately US$0.5 million,
under its share repurchase program pursuant to which the Company
has been authorized to repurchase up to US$5 million ADSs by March
18, 2023, as previously announced on March 18, 2022.
Business Outlook
Based on the Company’s preliminary assessment of the current
market conditions, the Company expects to achieve profitability in
the final quarter of 2022. This forecast reflects the Company’s
current and preliminary views on the market and operational
conditions, which are subject to change as a result of various
market uncertainties.
Conference Call
The Company’s management team will hold an
earnings conference call at 7:00 A.M. Eastern Time on Friday,
November 11, 2022 (8:00 P.M. Beijing/Hong Kong Time on the same
day). Details for the conference call are as follows:
Event Title:
Huize Holding Limited’s Third Quarter 2022 Earnings Conference
CallRegistration Link:
https://register.vevent.com/register/BI828fcf8d615540a0ac7410d146a4c260
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 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.
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 RMB7.1135 to US$1.00, the exchange rate on
September 30, 2022, 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 Advisory
In ChinaMs. Jasmine ZhuPhone: +852 2117 0861Email:
jasmine.zhu@christensencomms.com
In U.S.Ms. Linda BergkampPhone: +1-480-614-3004Email:
linda.bergkamp@christensencomms.com
Huize Holding
LimitedUnaudited Consolidated Balance
Sheets(all amounts in thousands, except for share and per
share data)
|
|
As of December 31 |
|
|
As of September 30 |
|
|
|
2021 |
|
|
|
2022 |
|
|
|
RMB |
|
RMB |
|
|
USD |
Assets |
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
381,158 |
|
|
307,417 |
|
|
|
43,216 |
|
Restricted cash |
|
183,408 |
|
|
117,192 |
|
|
|
16,475 |
|
Contract assets |
|
- |
|
|
50,359 |
|
|
|
7,080 |
|
Accounts receivables, net of allowance for impairment |
|
777,262 |
|
|
341,859 |
|
|
|
48,058 |
|
Insurance premium receivables |
|
1,217 |
|
|
1,218 |
|
|
|
171 |
|
Amounts due from related parties |
|
128 |
|
|
479 |
|
|
|
67 |
|
Deferred costs |
|
- |
|
|
2,212 |
|
|
|
311 |
|
Prepaid expense and other receivables |
|
77,511 |
|
|
92,655 |
|
|
|
13,025 |
|
Total current assets |
|
1,420,684 |
|
|
913,391 |
|
|
|
128,403 |
|
|
|
|
|
|
|
|
|
Non-current assets |
|
|
|
|
|
|
|
Restricted cash |
|
44,418 |
|
|
- |
|
|
|
- |
|
Contract assets |
|
- |
|
|
3,659 |
|
|
|
514 |
|
Property, plant and equipment, net |
|
48,461 |
|
|
40,142 |
|
|
|
5,643 |
|
Intangible assets, net |
|
21,626 |
|
|
53,795 |
|
|
|
7,562 |
|
Deferred tax assets |
|
605 |
|
|
605 |
|
|
|
85 |
|
Long-term investments |
|
73,001 |
|
|
77,269 |
|
|
|
10,862 |
|
Operating lease right-of-use assets |
|
247,819 |
|
|
168,469 |
|
|
|
23,683 |
|
Goodwill |
|
461 |
|
|
461 |
|
|
|
65 |
|
Other assets |
|
379 |
|
|
279 |
|
|
|
39 |
|
Total non-current assets |
|
436,770 |
|
|
344,679 |
|
|
|
48,453 |
|
Total assets |
|
1,857,454 |
|
|
1,258,070 |
|
|
|
176,856 |
|
|
|
|
|
|
|
|
|
Liabilities, Mezzanine Equity and Shareholders’
Equity |
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
Short-term borrowings |
|
216,710 |
|
|
206,000 |
|
|
|
28,959 |
|
Accounts payable |
|
680,369 |
|
|
324,303 |
|
|
|
45,590 |
|
Insurance premium payables |
|
124,019 |
|
|
43,878 |
|
|
|
6,168 |
|
Contract liabilities |
|
7,236 |
|
|
5,692 |
|
|
|
800 |
|
Provisions |
|
- |
|
|
3,651 |
|
|
|
513 |
|
Other payables and accrued expenses |
|
71,255 |
|
|
60,435 |
|
|
|
8,496 |
|
Payroll and welfare payable |
|
93,451 |
|
|
65,281 |
|
|
|
9,177 |
|
Income taxes payable |
|
2,440 |
|
|
2,440 |
|
|
|
343 |
|
Operating lease liabilities |
|
14,886 |
|
|
10,018 |
|
|
|
1,408 |
|
Amount due to related parties |
|
11,875 |
|
|
6,341 |
|
|
|
891 |
|
Total current liabilities |
|
1,222,241 |
|
|
728,039 |
|
|
|
102,345 |
|
|
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
|
|
Long-term borrowings |
|
20,000 |
|
|
- |
|
|
|
- |
|
Deferred tax liabilities |
|
4,892 |
|
|
13,096 |
|
|
|
1,841 |
|
Operating lease liabilities |
|
249,183 |
|
181,183 |
|
25,470 |
Payroll and welfare payable |
|
225 |
|
|
827 |
|
|
|
116 |
|
Total non-current liabilities |
|
274,300 |
|
|
195,106 |
|
|
|
27,427 |
|
Total liabilities |
|
1,496,541 |
|
|
923,145 |
|
|
|
129,772 |
|
|
|
|
|
|
|
|
|
Commitments and
contingencies |
|
|
|
|
|
|
|
Shareholders’
equity |
|
|
|
|
|
|
|
Class A common shares |
|
62 |
|
|
62 |
|
|
|
9 |
|
Class B common shares |
|
10 |
|
|
10 |
|
|
|
1 |
|
Treasury stock |
|
(9,545 |
) |
|
(12,971 |
) |
|
|
(1,823 |
) |
Additional paid-in capital |
|
896,772 |
|
|
902,360 |
|
|
|
126,852 |
|
Accumulated other comprehensive loss |
|
(27,295 |
) |
|
(14,144 |
) |
|
|
(1,988 |
) |
Accumulated deficit |
|
(499,940 |
) |
|
(539,299 |
) |
|
|
(75,813 |
) |
Total shareholders’
equity attributable to Huize Holding Limited
shareholders |
|
360,064 |
|
|
336,018 |
|
|
|
47,238 |
|
Non-controlling interests |
|
849 |
|
|
(1,093 |
) |
|
|
(154 |
) |
Total shareholders’
equity |
|
360,913 |
|
|
334,925 |
|
|
|
47,084 |
|
Total liabilities and
shareholders’ equity |
|
1,857,454 |
|
|
1,258,070 |
|
|
|
176,856 |
|
Huize Holding
LimitedUnaudited Consolidated Statements of
Comprehensive Income (all amounts in thousands, except for
share and per share data)
|
|
For the Three Months Ended September 30, |
|
For the Nine Months Ended September 30, |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
|
RMB |
|
RMB |
|
USD |
|
RMB |
|
RMB |
|
USD |
Operating
revenue |
|
|
|
|
|
|
|
|
|
|
|
|
Brokerage income |
|
312,652 |
|
|
338,536 |
|
|
47,591 |
|
|
1,262,550 |
|
|
862,156 |
|
|
121,200 |
|
Other income |
|
2,429 |
|
|
13,254 |
|
|
1,863 |
|
|
6,133 |
|
|
37,341 |
|
|
5,249 |
|
Total operating
revenue |
|
315,081 |
|
|
351,790 |
|
|
49,454 |
|
|
1,268,683 |
|
|
899,497 |
|
|
126,449 |
|
Operating costs and
expenses |
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue |
|
(232,871 |
) |
|
(236,324 |
) |
|
(33,222 |
) |
|
(941,536 |
) |
|
(547,654 |
) |
|
(76,988 |
) |
Other cost |
|
(173 |
) |
|
(12,369 |
) |
|
(1,739 |
) |
|
(1,362 |
) |
|
(24,427 |
) |
|
(3,434 |
) |
Total operating
costs |
|
(233,044 |
) |
|
(248,693 |
) |
|
(34,961 |
) |
|
(942,898 |
) |
|
(572,081 |
) |
|
(80,422 |
) |
Selling expenses |
|
(83,396 |
) |
|
(56,395 |
) |
|
(7,928 |
) |
|
(238,225 |
) |
|
(189,850 |
) |
|
(26,689 |
) |
General and administrative expenses |
|
(47,172 |
) |
|
(43,116 |
) |
|
(6,061 |
) |
|
(141,632 |
) |
|
(116,104 |
) |
|
(16,322 |
) |
Research and development expenses |
|
(29,831 |
) |
|
(16,363 |
) |
|
(2,300 |
) |
|
(74,406 |
) |
|
(64,020 |
) |
|
(9,000 |
) |
Total operating costs
and expenses |
|
(393,443 |
) |
|
(364,567 |
) |
|
(51,250 |
) |
|
(1,397,161 |
) |
|
(942,055 |
) |
|
(132,433 |
) |
Operating
loss |
|
(78,362 |
) |
|
(12,777 |
) |
|
(1,796 |
) |
|
(128,478 |
) |
|
(42,558 |
) |
|
(5,984 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
income/(expenses) |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expenses |
|
(759 |
) |
|
(1,924 |
) |
|
(270 |
) |
|
(1,636 |
) |
|
(4,469 |
) |
|
(628 |
) |
Unrealized exchange loss |
|
(8 |
) |
|
(50 |
) |
|
(7 |
) |
|
(19 |
) |
|
(95 |
) |
|
(13 |
) |
Investment loss |
|
(3,788 |
) |
|
(435 |
) |
|
(61 |
) |
|
(4,029 |
) |
|
(2,217 |
) |
|
(312 |
) |
Others, net |
|
3,852 |
|
|
4,349 |
|
|
611 |
|
|
7,892 |
|
|
11,071 |
|
|
1,556 |
|
Loss before income
tax, and share of income/(loss) of equity method
investee |
|
(79,065 |
) |
|
(10,837 |
) |
|
(1,523 |
) |
|
(126,270 |
) |
|
(38,268 |
) |
|
(5,381 |
) |
Share of income/ (loss) of equity method investee |
|
157 |
|
|
(393 |
) |
|
(55 |
) |
|
(1,294 |
) |
|
(3,033 |
) |
|
(426 |
) |
Net loss |
|
(78,908 |
) |
|
(11,230 |
) |
|
(1,578 |
) |
|
(127,564 |
) |
|
(41,301 |
) |
|
(5,807 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to non-controlling interests |
|
- |
|
|
(691 |
) |
|
(97 |
) |
|
- |
|
|
(1,942 |
) |
|
(273 |
) |
Net loss attributable
to common shareholders |
|
(78,908 |
) |
|
(10,539 |
) |
|
(1,481 |
) |
|
(127,564 |
) |
|
(39,359 |
) |
|
(5,534 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
(78,908 |
) |
|
(11,230 |
) |
|
(1,578 |
) |
|
(127,564 |
) |
|
(41,301 |
) |
|
(5,807 |
) |
Foreign currency translation adjustment, net of tax |
|
(319 |
) |
|
7,438 |
|
|
1,046 |
|
|
(3,789 |
) |
|
13,151 |
|
|
1,849 |
|
Comprehensive
loss |
|
(79,227 |
) |
|
(3,792 |
) |
|
(532 |
) |
|
(131,353 |
) |
|
(28,150 |
) |
|
(3,958 |
) |
Comprehensive loss
attributable to non-controlling interests |
|
- |
|
|
(691 |
) |
|
(97 |
) |
|
- |
|
|
(1,942 |
) |
|
(273 |
) |
Comprehensive loss
attributable to common shareholders |
|
(79,227 |
) |
|
(3,101 |
) |
|
(435 |
) |
|
(131,353 |
) |
|
(26,208 |
) |
|
(3,685 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of common shares used in computing net profit per
share |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
1,021,266,572 |
|
|
1,021,183,878 |
|
|
1,021,183,878 |
|
|
1,021,803,029 |
|
|
1,022,391,802 |
|
|
1,022,391,802 |
|
Net loss per share
attributable to common shareholders |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
(0.08 |
) |
|
(0.01 |
) |
|
(0.00 |
) |
|
(0.12 |
) |
|
(0.04 |
) |
|
(0.01 |
) |
Huize Holding
LimitedUnaudited Reconciliations of GAAP and
Non-GAAP Results(all amounts in thousands, except for
share and per share data)
|
|
For the Three Months Ended September 30, |
|
For the Nine Months Ended September 30, |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
|
RMB |
|
RMB |
|
USD |
|
RMB |
|
RMB |
|
USD |
Net loss attributable
to common shareholders |
|
(78,908 |
) |
|
(10,539 |
) |
|
(1,481 |
) |
|
(127,564 |
) |
|
(39,359 |
) |
|
(5,534 |
) |
Share-based compensation expenses |
|
(7,677 |
) |
|
744 |
|
|
105 |
|
|
(3,569 |
) |
|
4,447 |
|
|
625 |
|
Non-GAAP net loss
attributable to common shareholders |
|
(86,585 |
) |
|
(9,795 |
) |
|
(1,376 |
) |
|
(131,133 |
) |
|
(34,912 |
) |
|
(4,909 |
) |
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