Huize Holding Limited Reports Unaudited Financial Results for the First Half of 2026
First Half 2026 Financial and Operational Highlights
- Insurance premiums reached new highs: Gross written premiums (“GWP”) rose to an all-time high of
RMB4,196.4 million in the first half of 2026, representing an increase of 29.8% year-over-year. First-year premiums (“FYP”) recorded a strong 48.7% year-over-year growth toRMB2,763.0 million . This robust performance was underpinned by our high-quality customer franchise, consistently high persistency ratios, and broad product portfolio tailored to consumers’ evolving financial and protection needs. - Sustained revenue growth and improved operating leverage: Total revenue rose 5.8% year-over-year to
RMB719.8 million in the first half of 2026. Our expense-to-income ratio improved by 1.8 percentage points year-over-year to 24.2%, reflecting continued operating discipline and efficiency gains, supported by broader adoption of AI-enabled tools and workflow optimization. Consequently, our GAAP net profit attributable to common shareholders increased toRMB25.3 million in the first half of 2026. - Cumulative number of insurance clients served increased to 13.1 million as of
June 30, 2026 . We worked with 159 insurer partners in mainlandChina and internationally as ofJune 30, 2026 , including 90 life and health insurance companies and 69 property and casualty insurance companies. - Cash and cash equivalents were
RMB241.4 million (US$35.6 million ) as ofJune 30, 2026 .
Mr. Cunjun Ma, Founder and CEO of
“We continue to harness our advanced AI solutions to acquire high-quality, mass-affluent customers and deepen customer engagement. In the first half of 2026, we added approximately 789,000 new customers. The average age of customers purchasing long-term insurance products was 35.3 years, with 62.5% residing in tier-two cities and above. As of
“To address the full spectrum of lifetime financial and protection needs for our customers, we maintain close collaboration with insurer partners in co-developing and optimizing customized products. Against the backdrop of an aging demographic and growing demand for sophisticated financial planning, we launched ‘Bliss 5.0’ and ‘Dajia Hui Xuan 2026’, two participating annuity products offering premium and diversified retirement planning options. During the first half of 2026, we also unveiled ‘Darwin No.15 Kids Protection’, the latest iteration of our popular Darwin series of customized critical illness insurance products for children. Together, these new products further strengthen our differentiated portfolio of customized insurance products and support sustainable long-term growth.”
“We continued to advance our three-pillar AI strategy. First, we scaled proprietary AI applications across the organization, embedding AI into core workflows such as customer service and claims processing while building a more scalable operating model. Alongside disciplined cost management, these efforts helped improve our expense-to-income ratio by 1.8 percentage points year-over-year to 24.2% in the first half. Second, our AI App completed its upgrade to a phase 2.0 multi-agent architecture, with users increasingly turning to AI for insurance consultation, product understanding, and preliminary planning. We also launched a new AI-powered financial planning feature that generates customized family financial plans tailored to each household’s unique protection needs. Among active users, the feature achieved a 45% report generation rate, reflecting the evolution of user engagement from single-point service delivery toward more comprehensive advisory planning. Finally, we are accelerating the intelligent transformation of our platform by introducing advanced AI agents across the front, middle, and back offices. In parallel, we are integrating our AI capabilities with our knowledge base to help insurer partners design and optimize products that better respond to customers’ evolving financial and protection needs.”
First Half 2026 Financial Results
GWP and operating revenue
GWP facilitated on our platform was
Operating revenue was
Operating costs
Operating costs were
Operating expenses
Selling expenses were
General and administrative expenses were
Research and development expenses were
Net profit and non-GAAP net profit for the period
Net profit attributable to common shareholders was
Cash and cash equivalents
As of
Conference Call
The Company’s management team will hold an earnings conference call at
Event Title: Huize Holding Limited’s First Half 2026 Earnings Conference Call
Registration Link: https://register-conf.media-server.com/register/BI3e1c9859199c423aa4a0dea7b00027a2
All participants must use the link provided above to complete the online registration before the conference call. Upon registration, each participant will receive a confirmation email containing dial-in numbers and a unique access PIN for joining the conference call.
Additionally, a live and archived webcast of the conference call will be available on the Company’s investor relations website at http://ir.huize.com.
About Huize Holding Limited
Huize Holding Limited is a leading insurance technology platform connecting consumers, insurance carriers and distribution partners digitally through data-driven and AI-powered solutions in Asia. Targeting mass affluent consumers, Huize is dedicated to serving consumers for their life-long insurance needs. Its online-to-offline integrated insurance ecosystem covers the entire insurance life cycle and offers consumers a wide spectrum of insurance products, one-stop services, and a streamlined transaction experience across all scenarios. By leveraging AI, data analytics, and digital capabilities, Huize empowers the insurance service chain with proprietary technology-enabled solutions for insurance consultation, user engagement, marketing, risk management, and claims service.
For more information, please visit http://ir.huize.com or follow us on social media via LinkedIn (https://www.linkedin.com/company/huize-holding-limited), X (https://x.com/huizeholding) and Webull (https://www.webull.com/quote/nasdaq-huiz).
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. 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. 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 RMB6.7851 to US$1.00, the exchange rate on June 30, 2026, 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 Relations
investor@huize.com
Media Relations
mediacenter@huize.com
Christensen Advisory
Dolly Zhang
Phone: +852 6996 4179
Email: dolly.zhang@christensencomms.com
| Unaudited Condensed Consolidated Balance Sheets |
|||||||||||
| (all amounts in thousands, except for share and per share data) |
|||||||||||
| As of |
As of |
||||||||||
| 2025 |
2026 |
||||||||||
| RMB | RMB | USD | |||||||||
| Assets | |||||||||||
| Current assets | |||||||||||
| Cash and cash equivalents | 250,826 | 241,399 | 35,578 | ||||||||
| Restricted cash | 51,473 | 25,921 | 3,820 | ||||||||
| Short-term investments | 2,936 | 2,568 | 378 | ||||||||
| Contract assets, net of allowance | 86,249 | 104,806 | 15,447 | ||||||||
| Accounts receivables, net of allowance | 172,539 | 219,161 | 32,301 | ||||||||
| Insurance premium receivables | 1,141 | 1,512 | 223 | ||||||||
| Amounts due from related parties | 4,315 | 5,109 | 753 | ||||||||
| Prepaid expense and other receivables | 89,504 | 80,349 | 11,842 | ||||||||
| Total current assets | 658,983 | 680,825 | 100,342 | ||||||||
| Non-current assets | |||||||||||
| Restricted cash | 29,683 | 29,702 | 4,378 | ||||||||
| Contract assets, net of allowance | 45,574 | 46,566 | 6,863 | ||||||||
| Property, plant and equipment, net | 38,242 | 35,548 | 5,239 | ||||||||
| Intangible assets, net | 66,013 | 67,310 | 9,920 | ||||||||
| Long-term investments | 65,012 | 72,453 | 10,679 | ||||||||
| Operating lease right-of-use assets | 19,349 | 14,479 | 2,134 | ||||||||
| 14,075 | 14,075 | 2,074 | |||||||||
| Other assets | 1,236 | 1,236 | 182 | ||||||||
| Total non-current assets | 279,184 | 281,369 | 41,469 | ||||||||
| Total assets | 938,167 | 962,194 | 141,811 | ||||||||
| Liabilities and Shareholders’ Equity | |||||||||||
| Current liabilities | |||||||||||
| Short-term borrowings | 53,000 | 57,732 | 8,509 | ||||||||
| Accounts payable | 194,951 | 270,183 | 39,819 | ||||||||
| Insurance premium payables | 41,295 | 31,606 | 4,658 | ||||||||
| Other payables and accrued expenses | 41,965 | 23,915 | 3,525 | ||||||||
| Payroll and welfare payable | 81,813 | 55,049 | 8,113 | ||||||||
| Income taxes payable | 7,953 | 13,966 | 2,059 | ||||||||
| Operating lease liabilities | 17,275 | 16,910 | 2,492 | ||||||||
| Amount due to related parties | 20,415 | 4,889 | 722 | ||||||||
| Total current liabilities | 458,667 | 474,250 | 69,897 | ||||||||
| Non-current liabilities | |||||||||||
| Long-term borrowings | 6,990 | - | - | ||||||||
| Deferred tax liabilities | 14,380 | 14,325 | 2,111 | ||||||||
| Operating lease liabilities | 14,966 | 6,810 | 1,004 | ||||||||
| Payroll and welfare payable | 48 | 12 | 2 | ||||||||
| Other non-current liability | 11,269 | 17,726 | 2,612 | ||||||||
| Total non-current liabilities | 47,653 | 38,873 | 5,729 | ||||||||
| Total liabilities | 506,320 | 513,123 | 75,626 | ||||||||
| Shareholders’ equity | |||||||||||
| Class A common shares | 63 | 63 | 9 | ||||||||
| Class B common shares | 10 | 10 | 1 | ||||||||
| (29,513 | ) | (29,513 | ) | (4,350 | ) | ||||||
| Additional paid-in capital | 910,209 | 911,046 | 134,272 | ||||||||
| Accumulated other comprehensive loss | (14,695 | ) | (18,552 | ) | (2,734 | ) | |||||
| Accumulated deficits | (454,845 | ) | (429,507 | ) | (63,301 | ) | |||||
| Total shareholders’ equity attributable to |
411,229 | 433,547 | 63,897 | ||||||||
| Non-controlling interests | 20,618 | 15,524 | 2,288 | ||||||||
| Total shareholders’ equity | 431,847 | 449,071 | 66,185 | ||||||||
| Total liabilities and shareholders’ equity | 938,167 | 962,194 | 141,811 | ||||||||
| Unaudited Condensed Consolidated Statements of Comprehensive Income/(Loss) |
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| (all amounts in thousands, except for share and per share data) |
|||||||||
| For the Six Months Ended |
|||||||||
| 2025 |
2026 |
||||||||
| Operating revenue | RMB | RMB | USD | ||||||
| Brokerage income | 656,394 | 687,970 | 101,394 | ||||||
| Other income | 24,141 | 31,861 | 4,696 | ||||||
| Total operating revenue | 680,535 | 719,831 | 106,090 | ||||||
| Operating costs and expenses | |||||||||
| Cost of revenue | (495,248 | ) | (519,972 | ) | (76,635 | ) | |||
| Other cost | (2,996 | ) | (3,769 | ) | (555 | ) | |||
| Total operating costs | (498,244 | ) | (523,741 | ) | (77,190 | ) | |||
| Selling expenses | (99,775 | ) | (109,768 | ) | (16,178 | ) | |||
| General and administrative expenses | (48,163 | ) | (33,048 | ) | (4,871 | ) | |||
| Research and development expenses | (29,441 | ) | (31,733 | ) | (4,677 | ) | |||
| Total operating costs and expenses | (675,623 | ) | (698,290 | ) | (102,916 | ) | |||
| Operating profit | 4,912 | 21,541 | 3,174 | ||||||
| Other income/(expenses) | |||||||||
| Interest income | 1,445 | 1,555 | 229 | ||||||
| Unrealized exchange (loss)/income | (769 | ) | 318 | 47 | |||||
| Investment loss | (1,369 | ) | (247 | ) | (36 | ) | |||
| Others, net | 1,182 | 1,756 | 258 | ||||||
| Profit before income tax, and share of (loss)/profit of equity method investee | 5,401 | 24,923 | 3,672 | ||||||
| Share of (loss)/profit of equity method investee | (1,671 | ) | 3,343 | 493 | |||||
| Income tax expense | (3,424 | ) | (8,022 | ) | (1,182 | ) | |||
| Net profit | 306 | 20,244 | 2,983 | ||||||
| Net loss attributable to non-controlling interests | (1,983 | ) | (5,094 | ) | (751 | ) | |||
| Net profit attributable to |
2,289 | 25,338 | 3,734 | ||||||
| Net profit | 306 | 20,244 | 2,983 | ||||||
| Foreign currency translation adjustment, net of tax | (470 | ) | (3,857 | ) | (568 | ) | |||
| Comprehensive (loss)/ profit | (164 | ) | 16,387 | 2,415 | |||||
| Comprehensive loss attributable to non-controlling interests | (1,983 | ) | (5,094 | ) | (751 | ) | |||
| Comprehensive income attributable to |
1,819 | 21,481 | 3,166 | ||||||
| Weighted average number of common shares used in computing net profit per share | |||||||||
| Basic and diluted | 1,008,857,623 | 1,014,288,339 | 1,014,288,339 | ||||||
| Net profit per share attributable to common shareholders | |||||||||
| Basic and diluted | 0.00 | 0.02 | 0.00 | ||||||
| Unaudited Reconciliations of GAAP and Non-GAAP Results |
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| (all amounts in thousands, except for share and per share data) |
|||||||||
| For the Six Months Ended |
|||||||||
| 2025 |
2026 |
||||||||
| RMB | RMB | USD | |||||||
| Net profit attributable to common shareholders | 2,289 | 25,338 | 3,734 | ||||||
| Share-based compensation expenses | (5,630 | ) | (22,256 | ) | (3,280 | ) | |||
| Non-GAAP net (loss)/profit attributable to common shareholders | (3,341 | ) | 3,082 | 454 | |||||
Huize Holding Limited