Huize Authorizes US$5 Million Share Repurchase Program
March 17 2023 - 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, “We are pleased to announce this new
share repurchase program, which, similar to the share repurchase
programs that we adopted in April 2020 and March 2022, underscores
the confidence we have in our business model and the long-term
growth prospects of Huize. We remain committed to delivering value
to our shareholders while maintaining a strong financial position
to support the future growth of our business.”
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 and cash generated from operations.
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 RelationsHarriet HuInvestor Relations
Directorinvestor@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
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