View Filing Data

Print Document View Excel Document

Cover Page	12 Months Ended
Cover Page	Dec. 31, 2019 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-39216
Entity Registrant Name	Huize Holding Ltd
Entity Central Index Key	0001778982
Entity Address, Address Line One	5/F, Building 3-4
Entity Address, Address Line Two	Shenzhen Animation Park, Yuehai Road, Nanhai Avenue
Entity Address, City or Town	Shenzhen
Entity Incorporation, State or Country Code	E9
Entity Address, Country	CN
Entity Address, Postal Zip Code	518052
Title of 12(b) Security	American depositary shares
Trading Symbol	HUIZ
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Document Accounting Standard	U.S. GAAP
Entity Common Stock, Shares Outstanding	483,310,373
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	5/F, Building 3-4
Entity Address, Address Line Two	Shenzhen Animation Park, Yuehai Road, Nanhai Avenue
Entity Address, Country	CN
Entity Address, Postal Zip Code	518052

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Current assets
Cash and cash equivalents	¥ 88,141	$ 12,661	¥ 6,640
Restricted cash (including amounts of the consolidated VIE of RMB 145,599 thousand and RMB 161,186 thousand as of December 31, 2018 and 2019, respectively)	161,186	23,153	145,631
Accounts receivable, net of allowance for doubtful accounts	180,393	25,912	108,434
Insurance premium receivables (including amounts of the consolidated VIE of RMB 9,143 thousand and RMB 2,329 thousand as of December 31, 2018 and 2019, respectively)	2,329	335	9,143
Amounts due from related parties	280	40	10,546
Prepaid expense and other receivables	29,196	4,194	20,596
Total current assets	461,525	66,295	300,990
Non-current assets
Property, plant and equipment, net	8,006	1,150	6,354
Intangible assets, net	1,652	237	1,197
Deferred tax assets	64	9	137
Long-term investments	23,395	3,360	21,575
Other assets	14,163	2,034	3,831
Total non-current assets	47,280	6,790	33,094
Total assets	508,805	73,085	334,084
Current liabilities
Short-term borrowings (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 24,267 thousand and RMB 36,880 thousand as of December 31, 2018 and 2019, respectively)	36,880	5,297	24,267
Accounts payable (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 72,989 thousand and RMB 124,441 thousand as of December 31, 2018 and 2019, respectively)	124,441	17,875	73,448
Insurance premium payables (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 114,447 thousand and RMB 125,587 thousand as of December 31, 2018 and 2019, respectively)	125,587	18,039	114,447
Other payables and accrued expenses (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 60,599 thousand and RMB 37,678 thousand as of December 31, 2018 and 2019, respectively)	30,211	4,340	36,908
Payroll and welfare payable (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 31,850 thousand and RMB 43,831 thousand as of December 31, 2018 and 2019, respectively)	43,993	6,319	31,850
Income taxes payable (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 206 thousand and RMB 206 thousand as of December 31, 2018 and 2019, respectively)	206	30	250
Amounts due to related parties(including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB nil both as of December 31, 2018 and 2019, respectively)	465	67
Total current liabilities	361,783	51,967	281,170
Non-current liabilities
Long-term borrowings (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 15,804 thousand and RMB nil as of December 31, 2018 and 2019, respectively)	0		15,804
Deferred tax liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 575 thousand and RMB 530 thousand as of December 31, 2018 and 2019, respectively)	530	76	575
Other non-current liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB nil and RMB 518 thousand as of December 31, 2018 and 2019, respectively)	518	74
Total non-current liabilities	1,048	150	16,379
Total liabilities	362,831	52,117	297,549
Commitments and contingencies
Mezzanine equity
Redeemable Preferred Shares	454,627	65,303	421,773
Shareholders' (deficit)/equity
Common shares (US$0.00001 par value; 4,549,953,780 shares authorized as of December 31, 2018 and 2019, respectively; 445,272,000 shares and 483,310,373 shares issued and outstanding as of December 31, 2018 and 2019; 933,356,593 shares issued and outstanding, pro forma as of December 31, 2019)	33	5	31
Additional paid-in capital	64,882	9,320	2,778
Accumulated other comprehensive income	414	59	295
Accumulated deficit	(373,982)	(53,719)	(388,884)
Total shareholders' (deficit)/equity attributable to Huize Holding Limited shareholders	(308,653)	(44,335)	(385,780)
Non-controlling interests			542
Total shareholders' (deficit)/equity	(308,653)	(44,335)	(385,238)
Total liabilities, mezzanine equity and shareholders' (deficit)/equity	508,805	73,085	334,084
Pro Forma [Member]
Current assets
Cash and cash equivalents	88,141	12,661
Restricted cash (including amounts of the consolidated VIE of RMB 145,599 thousand and RMB 161,186 thousand as of December 31, 2018 and 2019, respectively)	161,186	23,153
Accounts receivable, net of allowance for doubtful accounts	180,393	25,912
Insurance premium receivables (including amounts of the consolidated VIE of RMB 9,143 thousand and RMB 2,329 thousand as of December 31, 2018 and 2019, respectively)	2,329	335
Amounts due from related parties	280	40
Prepaid expense and other receivables	29,196	4,194
Total current assets	461,525	66,295
Non-current assets
Property, plant and equipment, net	8,006	1,150
Intangible assets, net	1,652	237
Deferred tax assets	64	9
Long-term investments	23,395	3,360
Other assets	14,163	2,034
Total non-current assets	47,280	6,790
Total assets	508,805	73,085
Current liabilities
Short-term borrowings (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 24,267 thousand and RMB 36,880 thousand as of December 31, 2018 and 2019, respectively)	36,880	5,297
Accounts payable (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 72,989 thousand and RMB 124,441 thousand as of December 31, 2018 and 2019, respectively)	124,441	17,875
Insurance premium payables (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 114,447 thousand and RMB 125,587 thousand as of December 31, 2018 and 2019, respectively)	125,587	18,039
Other payables and accrued expenses (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 60,599 thousand and RMB 37,678 thousand as of December 31, 2018 and 2019, respectively)	30,211	4,340
Payroll and welfare payable (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 31,850 thousand and RMB 43,831 thousand as of December 31, 2018 and 2019, respectively)	43,993	6,319
Income taxes payable (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 206 thousand and RMB 206 thousand as of December 31, 2018 and 2019, respectively)	206	30
Amounts due to related parties(including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB nil both as of December 31, 2018 and 2019, respectively)	465	67
Total current liabilities	361,783	51,967
Non-current liabilities
Deferred tax liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB 575 thousand and RMB 530 thousand as of December 31, 2018 and 2019, respectively)	530	76
Other non-current liabilities (including amounts of the consolidated VIE and its subsidiaries without recourse to the Company of RMB nil and RMB 518 thousand as of December 31, 2018 and 2019, respectively)	518	74
Total non-current liabilities	1,048	150
Total liabilities	362,831	52,117
Commitments and contingencies
Shareholders' (deficit)/equity
Common shares (US$0.00001 par value; 4,549,953,780 shares authorized as of December 31, 2018 and 2019, respectively; 445,272,000 shares and 483,310,373 shares issued and outstanding as of December 31, 2018 and 2019; 933,356,593 shares issued and outstanding, pro forma as of December 31, 2019)	66	9
Additional paid-in capital	519,476	74,619
Accumulated other comprehensive income	414	59
Accumulated deficit	(373,982)	(53,719)
Total shareholders' (deficit)/equity attributable to Huize Holding Limited shareholders	145,974	20,968
Total shareholders' (deficit)/equity	145,974	20,968
Total liabilities, mezzanine equity and shareholders' (deficit)/equity	508,805	73,085
Series A redeemable preferred shares [Member]
Mezzanine equity
Redeemable Preferred Shares	84,072	12,076	78,390
Series B redeemable preferred shares [Member]
Mezzanine equity
Redeemable Preferred Shares	261,272	37,529	241,918
Series B+ redeemable preferred shares [Member]
Mezzanine equity
Redeemable Preferred Shares	81,654	11,729	75,606
Series B++ redeemable preferred shares [Member]
Mezzanine equity
Redeemable Preferred Shares	¥ 27,629	$ 3,969	¥ 25,859

Consolidated Balance Sheets (Parenthetical) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 CNY (¥) shares
Insurance premium receivables	¥ 2,329	$ 335	¥ 9,143
Short-term borrowings	36,880	5,297	24,267
Accounts payable	124,441	17,875	73,448
Insurance premium payables	125,587	18,039	114,447
Other payables and accrued expenses	30,211	4,340	36,908
Payroll and welfare payable	43,993	6,319	31,850
Income taxes payable	206	30	250
Amounts due to related parties	465	67
Long-term borrowings \| ¥	0		15,804
Deferred tax liabilities	530	76	¥ 575
Other non-current liabilities	¥ 518	$ 74
Common shares per share \| $ / shares		$ 0.00001
Common shares authorized	4,549,953,780	4,549,953,780	4,549,953,780
Common shares issued	483,310,373	483,310,373	445,272,000
Common shares outstanding	483,310,373	483,310,373	445,272,000
Pro Forma [Member]
Insurance premium receivables	¥ 2,329	$ 335
Short-term borrowings	36,880	5,297
Accounts payable	124,441	17,875
Insurance premium payables	125,587	18,039
Other payables and accrued expenses	30,211	4,340
Payroll and welfare payable	43,993	6,319
Income taxes payable	206	30
Amounts due to related parties	465	67
Deferred tax liabilities	530	76
Other non-current liabilities	¥ 518	$ 74
Common shares issued	933,356,593	933,356,593
Common shares outstanding	933,356,593	933,356,593
Variable Interest Entity [Member]
Restricted cash \| ¥	¥ 161,186		¥ 145,599
Insurance premium receivables \| ¥	2,329		9,143
Short-term borrowings \| ¥	36,880		24,267
Accounts payable \| ¥	124,441		72,989
Insurance premium payables \| ¥	125,587		114,447
Other payables and accrued expenses \| ¥	37,678		60,599
Payroll and welfare payable \| ¥	43,831		31,850
Income taxes payable \| ¥	206		206
Amounts due to related parties \| ¥	0		0
Long-term borrowings \| ¥	0		15,804
Deferred tax liabilities \| ¥	530		575
Other non-current liabilities \| ¥	¥ 518		¥ 0
Series A redeemable preferred shares [Member]
Redeemable preferred shares par value \| $ / shares		$ 0.00001
Redeemable preferred shares authorized	204,022,000	204,022,000	204,022,000
Redeemable preferred shares issued	204,022,000	204,022,000	204,022,000
Redeemable preferred shares outstanding	204,022,000	204,022,000	204,022,000
Series A redeemable preferred shares [Member] \| Pro Forma [Member]
Redeemable preferred shares authorized	204,022,000	204,022,000
Redeemable preferred shares issued	0	0
Redeemable preferred shares outstanding	0	0
Series B redeemable preferred shares [Member]
Redeemable preferred shares par value \| $ / shares		$ 0.00001
Redeemable preferred shares authorized	185,512,580	185,512,580	185,512,580
Redeemable preferred shares issued	185,512,580	185,512,580	185,512,580
Redeemable preferred shares outstanding	185,512,580	185,512,580	185,512,580
Series B redeemable preferred shares [Member] \| Pro Forma [Member]
Redeemable preferred shares authorized	185,512,580	185,512,580
Redeemable preferred shares issued	0	0
Redeemable preferred shares outstanding	0	0
Series B+ redeemable preferred shares [Member]
Redeemable preferred shares par value \| $ / shares		$ 0.00001
Redeemable preferred shares authorized	43,937,180	43,937,180	43,937,180
Redeemable preferred shares issued	43,937,180	43,937,180	43,937,180
Redeemable preferred shares outstanding	43,937,180	43,937,180	43,937,180
Series B+ redeemable preferred shares [Member] \| Pro Forma [Member]
Redeemable preferred shares authorized	43,937,180	43,937,180
Redeemable preferred shares issued	0	0
Redeemable preferred shares outstanding	0	0
Series B++ redeemable preferred shares [Member]
Redeemable preferred shares par value \| $ / shares		$ 0.00001
Redeemable preferred shares authorized	16,574,460	16,574,460	16,574,460
Redeemable preferred shares issued	16,574,460	16,574,460	16,574,460
Redeemable preferred shares outstanding	16,574,460	16,574,460	16,574,460
Series B++ redeemable preferred shares [Member] \| Pro Forma [Member]
Redeemable preferred shares authorized	16,574,460	16,574,460
Redeemable preferred shares issued	0	0
Redeemable preferred shares outstanding	0	0

Consolidated Statements of Comprehensive (Loss)/Income ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥) ¥ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 CNY (¥) ¥ / shares shares	Dec. 31, 2017 CNY (¥) ¥ / shares shares
Operating revenue
Brokerage income	¥ 982,124	$ 141,073	¥ 503,547	¥ 251,556
Other income	11,195	1,608	5,281	11,776
Total operating revenue	993,319	142,681	508,828	263,332
Operating costs and expenses
Cost of revenue	(629,531)	(90,426)	(316,397)	(164,750)
Other cost	(1,837)	(264)	(1,905)	(1,919)
Total operating costs	(631,368)	(90,690)	(318,302)	(166,669)
Selling expenses	(164,665)	(23,653)	(94,613)	(104,980)
General and administrative expenses	(161,816)	(23,243)	(46,177)	(41,877)
Research and development expenses	(33,831)	(4,860)	(24,944)	(50,107)
Total operating costs and expenses	(991,680)	(142,446)	(484,036)	(363,633)
Operating (loss)/profit	1,639	235	24,792	(100,301)
Other income/(expenses)
Interest income/(expenses)	(190)	(27)	(27,111)	655
Unrealized exchange income/(loss)	362	52	(354)	36
Investment income	718	103		811
Others, net	12,676	1,821	4,569	1,171
(Loss)/profit before income tax, and share of income of equity method investee	15,205	2,184	1,896	(97,628)
Income tax expense	(57)	(8)	(278)	(406)
Share of income/(loss) of equity method investee	(180)	(26)	1,310	989
Net (loss)/profit	14,968	2,150	2,928	(97,045)
Net profit/(loss) attributable to non-controlling interests	66	9	(224)	128
Net (loss)/profit attributable to Huize Holding Limited	14,902	2,141	3,152	(97,173)
Redeemable preferred shares redemption value accretion	(32,854)	(4,719)	(29,118)	(26,474)
Allocation to redeemable preferred shares	(7,431)	(1,067)	(1,558)	47,934
Net loss attributable to common shareholders	(25,383)	(3,645)	(27,524)	(75,713)
Net (loss)/profit	14,968	2,150	2,928	(97,045)
Foreign currency translation adjustment, net of tax	140	20	327	(37)
Comprehensive (loss)/income	15,108	2,170	3,255	(97,082)
Comprehensive (loss)/income attributable to non- controlling interests	87	12	(192)	67
Comprehensive (loss)/income attributable to Huize Holding Limited	¥ 15,021	$ 2,158	¥ 3,447	¥ (97,149)
Weighted average number of common shares used in computing net (loss)/profit per share
Basic and diluted	452,445,068	452,445,068	445,272,000	445,272,000
Net (loss)/profit per share attributable to common shareholders
Basic and diluted \| (per share)	¥ (0.06)	$ (0.01)	¥ (0.06)	¥ (0.17)

Consolidated Statements of Changes in Shareholders' (Deficit)/Equity ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)	Common shares CNY (¥) shares	Additional paid-in capital CNY (¥)	Accumulated other comprehensive income CNY (¥)	Accumulated deficit CNY (¥)	Non-Controlling interest CNY (¥)
Balance Beginning at Dec. 31, 2016	¥ (262,408)		¥ 31	¥ 31,564	¥ (24)	¥ (294,863)	¥ 884
Balance Beginning (Shares) at Dec. 31, 2016 \| shares			445,272,000
Net profit (loss) for the year	(97,045)					(97,173)	128
Share-based payment compensation	811			811
Redeemable preferred shares redemption value accretion	(26,474)			(26,474)
Foreign currency translation	(37)				24		(61)
Profit distribution	(217)						(217)
Balance Ending at Dec. 31, 2017	(385,370)		¥ 31	5,901		(392,036)	734
Balance Ending (Shares) at Dec. 31, 2017 \| shares			445,272,000
Net profit (loss) for the year	2,928					3,152	(224)
Share-based payment compensation	967			967
Redeemable preferred shares redemption value accretion	(29,118)			(29,118)
Beneficial conversion feature in connection with issuance of convertible bonds	25,028			25,028
Foreign currency translation	327				295		32
Balance Ending at Dec. 31, 2018	(385,238)		¥ 31	2,778	295	(388,884)	542
Balance Ending (Shares) at Dec. 31, 2018 \| shares			445,272,000
Net profit (loss) for the year	14,968	$ 2,150				14,902	66
Share-based payment compensation	94,960		¥ 2	94,958
Share-based payment compensation (Shares) \| shares			38,038,373
Redeemable preferred shares redemption value accretion	(32,854)			(32,854)
Foreign currency translation	140	20			119		21
Others	(629)						¥ (629)
Balance Ending at Dec. 31, 2019	¥ (308,653)	$ (44,335)	¥ 33	¥ 64,882	¥ 414	¥ (373,982)
Balance Ending (Shares) at Dec. 31, 2019 \| shares			483,310,373

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Cash flows from operating activities:
Net (loss)/profit	¥ 14,968	$ 2,150	¥ 2,928	¥ (97,045)
Adjustments to reconcile net (loss)/profit to net cash (used in)/provided by operating activities:
Allowance for doubtful account	626	90	376	801
Depreciation and amortization	3,779	543	3,082	3,562
Unrealized exchange (income)/loss	(362)	(52)	354	(36)
Share-based compensation expense	94,958	13,640	967	811
Interest (income)/expense	190	27	862	(655)
Investment income	(718)	(103)		(811)
Share of (income)/loss of equity method investee	180	26	(1,310)	(989)
Interest on convertible bond			26,249
Deferred income tax	20	3	190	239
Adjustments to reconcile net (loss)/profit to net cash (used in)/provided by operating activities	113,641	16,324	33,698	(94,123)
Changes in operating assets and liabilities:
Increase in account receivables	(74,508)	(10,702)	(38,120)	(9,639)
(Increase)/Decrease in insurance premium receivables	6,814	979	(6,133)	(1,543)
Increase in prepaid expense and other receivables	(6,860)	(985)	(4,152)	(3,847)
(Increase)/Decrease in amounts due from related party	10,266	1,475	(1,580)	(301)
Increase in amounts due to related party	465	67
Increase in accounts payable	52,163	7,493	57,995	3,435
Increase in insurance premium payables	11,140	1,600	12,753	37,829
(Decrease)/Increase in payroll and welfare payable	12,143	1,744	14,833	(1,138)
Increase/(Decrease) in tax payable	37	5	(195)	160
(Increase )/Decrease in other payables and accrued expenses	3,055	439	1,585	(16,182)
Increase in other assets	(10,332)	(1,484)	(3,831)
Net cash (used in)/provided by operating activities	118,024	16,955	66,853	(85,349)
Cash flows from investing activities:
Purchase of long-term investment	(2,000)	(287)	(2,500)	(6,776)
Proceeds from disposal of short-term investment				66,938
Purchase of property, equipment and intangible assets	(6,035)	(867)	(1,139)	(2,642)
Proceeds from disposal of property, equipment and intangible assets	60	9	85	247
Others	1,048	151
Net cash (provided by)/used in investing activities	(6,927)	(994)	(3,554)	57,767
Cash flows from financing activities:
Proceeds from borrowings	30,000	4,308	29,484	23,516
Proceeds from convertible bonds			33,000
Dividend paid to non-controlling interest	(8,794)	(1,263)		(217)
Repayments of borrowings	(35,285)	(5,069)	(13,912)	(311)
Net cash provided by/(used in) financing activities	(14,079)	(2,024)	48,572	22,988
Effect of exchange rate changes on cash and cash equivalents	38	5	120	(234)
Net (decrease)/ increase in cash and cash equivalents and restricted cash	97,056	13,942	111,991	(4,828)
Total cash and cash equivalents and restricted cash at beginning of year	152,271	21,872	40,280	45,108
Total cash and cash equivalents and restricted cash at end of year	249,327	35,814	152,271	40,280
Supplemental disclosure of cash flow information
Cash paid for interest	(2,094)	(301)	(1,473)	179
Cash paid for income tax			(283)	(7)
Supplemental disclosure of non-cash investing and financing activities
Accretion on redeemable preferred shares to redemption value	¥ (32,854)	$ (4,719)	(29,118)	¥ (26,474)
Issuance of redeemable preferred shares from conversion of the convertible bonds			¥ 25,427

Principal Activities and Reorganization

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principal Activities and Reorganization

1. Principal activities and reorganization

(a) History and Reorganization

The Group commenced its operation in August 2006 by Mr. Cunjun Ma (“the founder”). Subsequently in December 2014, March 2016 and July 2016, the Company completed Series A, Series B and Series B+ financing respectively, and issued redeemable preferred shares to certain third party investors. In July 2018, the Company issued a convertible bond to certain third party investors. In October 2018, the investors converted the bond into Series B++ redeemable preferred shares.

Huize Holding Limited (“Huize” or the “Company”) was incorporated on December 24, 2014 under the laws of the Cayman Islands. The Company commenced a reorganization (“Reorganization”) in preparation of an offshore listing by issuing 184,200,000 common shares and 98,900,000 redeemable preferred shares were issued to the three shareholders in 2014 and 2015 after the Company was established. In June 2015, Shenzhen Zhixuan was established as an indirect wholly foreign owned entity of the Company in the People’s Republic of China (the “PRC”).

In June 2019, the Group completed the Reorganization by issuing 261,072,000 common shares, 105,122,000 Series A redeemable preferred shares, 185,512,580 Series B redeemable preferred shares, 43,937,180 Series B+ redeemable preferred shares and 16,574,460 Series B++ redeemable preferred shares to the shareholders of Huiye Tianze. After such share issuance, the total number of shares outstanding equals to that of Huiye Tianze. However, since the Company is an offshore entity, all PRC investors are required to register with relevant PRC governmental authorities in order to hold equity interest in the Company. All shareholders, except for one shareholder that owns 21.87% of Huiye Tianze, have completed relevant registrations. 78.13% of the shareholders received shares of the Company. The 21.87% shares of the Company were issued to an offshore affiliate of that shareholder. Concurrently, the Company obtained control over Huiye Tianze through Shenzhen Zhixuan by entering into a series of contractual arrangements as described in note 2b. As a result, Huiye Tianze became a consolidated VIE of the Group. The Company determined that the Reorganization is a recapitalization and accordingly prepared its financial statements using the carryover basis of assets and liabilities of Huiye Tianze and its subsidiaries.

Accordingly, the Company became the ultimate holding company of Huiye Tianze and its subsidiaries, which is principally engaged in the provision of insurance brokerage services in the PRC. The Company and its consolidated subsidiaries and variable interest entities (“VIE”) are collectively referred to as the “Group”.

In February 2020, the Company completed its initial public offering

(“IPO”)

in N

asdaq

obal

arket. The initial public offering of an aggregate of 5,250,000 American depository shares (“ADS”), each presenting 20 class A common shares of the Company, was priced at US$10.50 per ADS.

On March 10, 2020, the underwriters have exercised part of their over-allotment option to purchase an additional 72,453 American Depositary Shares of the Company at the IPO price of US$10.50 per ADS. After giving effect to the exercise of the over-allotment option, the Company had issued and sold a total of 5,322,453 ADSs in the IPO, for total gross proceeds of approximately US$55.9 million.

As of December 31, 2019, the Company’s principal subsidiaries, consolidated VIE and subsidiaries of VIE are as follows:


Principal Subsidiaries	Date of Incorporation/ Establishment	Place of Incorporation/ Establishment	Percentage Of Direct or Indirect Economic Interest	Principal Activities
Smart Choice Ventures Limited (“Smart Choice”)	January 14, 2015	British Virgin Islands	100%	Investment holding

Hong Kong Smart Choice Ventures Limited (“HK Smart Choice”)	February 18, 2015	Hong Kong	100%	Investment holding

Zhixuan International Management Consulting (Shenzhen) Co., Ltd. (“Shenzhen Zhixuan”)	June 9, 2015	PRC	100%	Management consulting and marketing consulting

Zhixuan Management Consulting (Tianjin) Co. Ltd	April 4, 2019	PRC	100%	Management consulting and marketing consulting

VIE

Shenzhen Huiye Tianze Investment Holding Co., Ltd (“Huiye Tianze”)	October 30, 2014	PRC	100%	Investment, investment consulting service

VIE’s Principal Subsidiaries

Huize Insurance Brokerage Co., Ltd. (“Huize Insurance Brokerage”) (former Shenzhen Huize Insurance Brokerage Co., Ltd.)	October 14, 2011	PRC	100%	Insurance brokerage service

Shenzhen Huize Shidai Co., Ltd. (“Huize Technology”)	April 28, 2012	PRC	100%	Technology development and Internet information consulting service

Hefei Huize Internet Technology Co., Ltd. (“Hefei Huize”)	August 5, 2015	PRC	100%	Technology development and Internet information consulting service

Shenzhen Zhixuan Wealth Investment Management Co., Ltd. (“Zhixuan Investment”)	April 20, 2016	PRC	100%	Management consulting, Investment consulting and financial consulting

Huize (Chengdu) Internet Technology Co., Ltd. (“Chengdu Huize”)	May 11, 2018	PRC	100%	Technology development consulting service

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of significant accounting policies

(a)	Basis of presentation

The Group’s consolidated financial statements for the years ended December 31, 2017, 2018 and 2019 are prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the accompanying consolidated financial statements and related disclosures. Actual results may differ from those estimates. Significant accounting policies followed by the Group in the preparation of the accompanying consolidated financial statements are summarized below.

As an emerging growth company, the Company elects to use the extended transition period for complying with new or revised financial accounting standards.

(b)	Basis of consolidation

The consolidated financial statements include the financial statements of the Company, its subsidiaries and a consolidated VIE, including the VIE’s subsidiaries, for which the Company is the ultimate primary beneficiary.

A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies, to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors.

A consolidated VIE is an entity in which the Company, or its subsidiaries, through contractual arrangements, has the power to direct the activities that most significantly impact the entity’s economic performance, bears the risks of and enjoys the rewards normally associated with, ownership of the entity, and therefore the Company or one of its subsidiaries is the primary beneficiary of the entity.

All transactions and balances among the Company, its subsidiaries, the VIE and the VIE’s subsidiaries have been eliminated upon consolidation.

The following is a summary of the contractual agreements (collectively, “Contractual Agreements”) between the Company’s PRC subsidiary, Zhixuan and the VIE, Huiye Tianze. Through the Contractual Agreements, the VIE is effectively controlled by the Company.

Exclusive Business Cooperation Agreement

: Under the exclusive business cooperation agreement, Zhixuan has the exclusive right to provide Huiye Tianze and its subsidiaries with technical support, consulting services and other services. Reciprocally, Huiye Tianze and its subsidiaries shall not accept any technical support, consulting services and other services from any third parties. In exchange, Zhixuan is entitled to receive a service fee from Huiye Tianze on a monthly basis and in an amount equal to all of its net income. Zhixuan owns the intellectual property rights arising out of the performance of the exclusive business cooperation agreement. Unless otherwise agreed by the parties, this agreement will remain effective for a maximum term allowed under PRC law and may be extended from time to time by Zhixuan at its determination.

Exclusive Option Agreement

: Pursuant to the exclusive option agreement, Huiye Tianze and each of its subsidiaries have irrevocably granted Zhixuan an exclusive option to purchase, or have its designated person or persons to purchase, at its discretion at any time, to the extent permitted under PRC law, all or part of their assets and business in the applicable entities. As for the consideration, the purchase price should be equal to the minimum price as permitted by PRC law.

Pursuant to the exclusive option agreements, each shareholder of Huiye Tianze has irrevocably granted Zhixuan an exclusive option to purchase, or have its designated person or persons to purchase, at its discretion at any time, to the extent permitted under PRC law, all or part of their current and future shares in Huiye Tianze. As for the consideration, the purchase price should be equal to the minimum price as permitted by PRC law

Share Pledge Agreements

: Concurrent with the exclusive option agreements and pursuant to the share pledge agreements, the shareholders of Huiye Tianze have pledged all of their equity interest in Huiye Tianze as a continuing first priority security interest, as applicable, to respectively guarantee the VIE’s performance of their obligations under the exclusive business cooperation agreement between Huiye Tianze and Zhixuan. If Huiye Tianze or any of its shareholders breach their contractual obligations under these agreements, Zhixuan, as pledgee, will be entitled to certain rights regarding the pledged equity interests. In the event of such breaches, Zhixuan’s rights include forcing the disposition or sale of all or part of the pledged equity interests of the applicable VIE and receiving proceeds from such auction or sale in accordance with PRC law. Each of the shareholders of Huiye Tianze agrees that, during the term of the applicable share pledge agreement, such shareholder will not dispose of the pledged equity interests or create or allow creation of any encumbrance on the pledged equity interests without the prior written consent of Zhixuan. Zhixuan is entitled to all dividends declared by Huiye Tianze. Each share pledge agreement will remain effective until the applicable VIE discharges all its obligations under the exclusive business cooperation agreement

Power of Attorney

Pursuant to each power of attorney, each shareholder of Huiye Tianze has irrevocably appointed Zhixuan to act as such shareholder’s exclusive

attorney-in-fact

to exercise all shareholder rights, including the right to attend and vote on shareholder’s meetings, appoint directors and executive officers and sell or dispose all or part of the equity interests owned by such shareholder in Huiye Tianze. Each power of attorney will remain in force for so long as the shareholder remains a shareholder of the applicable VIE.

The following table sets forth the assets, liabilities, results of operations and cash flows of Huiye Tianze and its subsidiaries, which are included in the Group’s consolidated financial statements. Transactions between the VIE and its subsidiaries are eliminated in the balances presented below:


	As of
		December 31, 2018		December 31, 2019
		RMB		RMB
Current assets			307,164		478,453
Non-current assets			32,936		46,267

Total assets			340,100		524,720

Current liabilities			304,358		368,617
Non-current liabilities			16,378		1,054

Total liabilities			320,736		369,671


	Year Ended December 31, 2017			Year Ended December 31, 2018			Year Ended December 31, 2019
	RMB			RMB
Total operating revenue		246,968			498,228			984,910
Net (loss)/profit		(95,746	)		29,973			22,806

Net cash (used in)/provided by operating activities		(83,524	)		67,049			104,565
Net cash provided by/(used) in investing activities		57,760			(3,541	)		(6,927	)
Net cash provided by/(used) in financing activitie s		22,973			48,720			823

Net (decrease)/increase in cash and cash equivalents		(2,791	)		112,228			98,461
Cash and cash equivalents at beginning of yea r		40,471			37,680			149,908

Cash and cash equivalents at end of year		37,680			149,908			248,369

The

significant portion of the total assets and total liabilities of Huiye Tianze and its subsidiaries approximate the amounts in the Group’s consolidated financial statements.

Under the contractual arrangements with the VIE, the Company can have the assets transferred out of the VIE and VIE’s subsidiaries, except for restricted cash and insurance premium receivables balance as disclosed on the balance sheet. Except for these two amounts, there is no other asset of the VIE that can only be used to settle obligations of the VIE and VIE’s subsidiaries. Since the VIE are incorporated as limited liability companies under the PRC Company Law, creditors of the VIE do not have recourse to the general credit of the Company. There is currently no contractual arrangement that would require the Company to provide additional financial support to the VIE. However, as the Company is conducting certain businesses through its VIE and VIE’s subsidiaries, the Company may provide such support on a discretionary basis in the future, which could expose the Company to a loss.

In the opinion of the Company’s management, the contractual arrangements among its subsidiary, the VIE and their respective Nominee Shareholders are in compliance with current PRC laws and are legally binding and enforceable. However, uncertainties in the interpretation and enforcement of the PRC laws, regulations and policies could limit the Company’s ability to enforce these contractual arrangements. As a result, the Company may be unable to consolidate the VIE and VIE’ subsidiaries in the consolidated financial statements.

In March 2019, the People’s Congress of the PRC passed the Draft Foreign Investment Enterprises (“FIE”) Law, which was released for public comment by the Ministry of Commerce (“MOFCOM”) in January 2015. The newly passed FIE Law will go into effect in 2020. The FIE Law appears to include VIE within the scope of entities that could be considered to be FIEs, that would be subject to restrictions under existing PRC law on foreign investment in certain categories of industry. Specifically, the FIE Law introduces the concept of “actual control” for determining whether an entity is considered to be an FIE. In addition to control through direct or indirect ownership or equity, the FIE Law includes control through contractual arrangements within the definition of “actual control”. These provisions regarding control through contractual arrangements could be construed to include the Group’s contractual arrangements with its VIE, and as a result, the Group’s VIE could become explicitly subject to the current restrictions on foreign investment in certain categories of industry. The FIE Law includes provisions that would exempt from the definition of FIEs where the ultimate controlling shareholders are either entities organized under PRC law or individuals who are PRC citizens. The FIE Law is silent as to what type of enforcement action might be taken against existing VIE, that operates in restricted or prohibited industries and is not controlled by entities organized under PRC law or individuals who are PRC citizens. If the restrictions and prohibitions on FIEs included in the FIE Law are enacted and enforced in their current form, the Group’s ability to use the contractual arrangements with its VIE and the Group’s ability to conduct business through the VIE could be severely limited.

The Company’s ability to control the VIE also depends on the power of attorney Zhixuan has to vote on all matters requiring shareholders’ approvals in the VIE. As noted above, the Company believes these power of attorney are legally binding and enforceable but may not be as effective as direct equity ownership. In addition, if the Group’s corporate structure or the contractual arrangements with the VIE were found to be in violation of any existing PRC laws and regulations, the PRC regulatory authorities could, within their respective jurisdictions:

•

revoke the Group’s business and operating licenses;

•

require the Group to discontinue or restrict its operations;

•

restrict the Group’s right to collect revenues;

•

block the Group’s websites;

•

require the Group to restructure its operations,

re-apply

for the necessary licenses or relocate the Group’s businesses, staff and assets;

•

impose additional conditions or requirements with which the Group may not be able to comply; or

•

take other regulatory or enforcement actions against the Group that could be harmful to the Group’s business.

The imposition of any of these restrictions or actions may result in a material adverse effect on the Group’s ability to conduct its business. In addition, if the imposition of any of these restrictions causes the Group to lose the right to direct the activities of the VIE or the right to receive their economic benefits, the Group would no longer be able to consolidate the financial statements of the VIE. In the opinion of management, the likelihood of losing the benefits in respect of the Group’s current ownership structure or the contractual arrangements with its VIE is remote.

(c)	Non-controlling interests

When there is a change in ownership interests that result in a loss of control of a subsidiary, the Company deconsolidates the subsidiary from the date control is lost. Any retained

non-controlling

investment in the former subsidiary is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary.

For the Company’s majority-owned subsidiaries and VIE, a

non-controlling

interest is recognized to reflect the portion of their equity which is not attributable, directly or indirectly, to the Company. Consolidated net profit/(loss) in the consolidated statements of comprehensive income includes the net (profit)/loss attributable to

non-controlling

interests, and common shareholders and redeemable preferred shareholders where applicable. The cumulative results of operations attributable to

non-controlling

interests are recorded as

non-controlling

interests in the Company’s consolidated balance sheets. Cash flows related to transactions with

non-controlling

interests are presented under financing activities in the consolidated statements of cash flows.

(d)	Use of estimates

Financial statements amounts that reflect significant accounting estimates and assumptions mainly include, but are not limited to, allowance for doubtful accounts (losses of accounts receivable, insurance premium receivables and other receivables), determination of uncertain tax positions, realizability of deferred tax assets, accounting for redeemable preferred shares, and valuation of share-based compensation arrangements. Actual results could materially differ from these estimates.

(e)	Comprehensive Income and Foreign Currency Translation

The Group’s operating results are reported in the consolidated statements of comprehensive (loss)/income pursuant to FASB ASC Topic 220, “Comprehensive Income”. Comprehensive income consists of two components: net income and other comprehensive income (“OCI”). The Group’s OCI is comprised of gains and losses resulting from translating foreign currency financial statements of entities, of which functional currency is other than Renminbi (“RMB”) which is the reporting currency of the Group, net of related income taxes, where applicable. Such subsidiaries’ assets and liabilities are translated into RMB at

period-end

exchange rates, and revenues and expenses are translated at average exchange rates prevailing during the period. Adjustments that result from translating amounts from a subsidiary’s functional currency to the RMB (as described above) are reported net of tax, where applicable, in accumulated OCI in the consolidated balance sheets.

(f)	Convenience translation

Translations of balances in the Group’s consolidated balance sheets, consolidated statements of comprehensive (loss) /income and consolidated statements of cash flows from RMB into US$ as of and for period ended December 31, 2019 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB 6.9618, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 31, 2019. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 31, 2019, or at any other rate.

(g)	Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, bank deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash, and have insignificant risk of changes in value related to changes in interest rates.

(h)	Restricted cash

In its capacity as an insurance broker, the Group collects “premiums” (unremitted insurance premiums) from certain insureds and remits the “premiums” to the appropriate insurance companies. Unremitted insurance premiums are held in custody until disbursed by the Group. The Group reports such amounts as restricted cash in the consolidated balance sheets. Unremitted insurance premiums were RMB 121,151 thousand and RMB 136,706 thousand (US$ 19,637 thousand) as of December 31, 2018 and 2019, respectively. Also, restricted cash balance includes guarantee deposits required by China Banking and Insurance Regulatory Commission (“CBIRC”) in order to protect insurance premium appropriation by insurance broker. The restricted cash balance related to this requirement was RMB 24,480 thousand (US$3,566 thousand as of December 31,

2018 and 2019)

(i)	Short Term Investments

Short-term investments mainly consist of investments placed with banks with original maturities between three months and one year and investments in money market funds. Interest earned is recorded as investment income in the consolidated statements of comprehensive (loss)/income during the years presented.

(j)	Accounts Receivable

Accounts receivable are recorded at the invoiced amount and do not bear interest. Accounts receivable represent brokerage fees receivable from insurance companies. The allowance for doubtful accounts is the Group’s best estimate of the amount of probable credit losses in the Group’s existing accounts receivable balance. The Group assesses the collectability of accounts receivable by determining the allowance percentage for the overdue balances by age. The Group makes allowance for the overdue balances of continuing cooperating insurance companies over 6 months and for the overdue balances of discontinuing cooperating insurance companies over 3 months.

(k)	Insurance Premium Receivables

Insurance premium receivables consist of insurance premiums to be collected from the insured, and are recorded at the invoiced amount and do not bear interest. The insurance premium received are included in net cash provided by operating activities in the consolidated statements of cash flows.

(l)	Fair value measurement

Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability

The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The three levels of inputs that may be used to measure fair value include:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Observable, market-based inputs, other than quoted prices, in active markets for identical assets or liabilities.

Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Accounting guidance also describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

Recurring

The Group’s financial instruments are not measured at fair value in the Consolidated Balance Sheets, but for which the fair value is estimated for disclosure purpose.

As of December 31, 2018 and 2019, the fair values of cash and cash equivalents, restricted cash, accounts receivable, insurance premium receivables, amounts due from related parties, other receivables, accounts payable, insurance premium payables and other payables approximated their

net

carrying values reported in the consolidated balance sheets due to the short term maturities of these instruments.

Long term borrowings are measured at amortized cost using discounted rates reflected time value of money. As the market interest rate is relatively stable during the reporting period, the carrying values of long term borrowings approximated their fair values reported in the consolidated balance sheets.

Non-recurring

The Group measures certain financial assets, including the investments under the cost method and equity method at fair value on a

non-recurring

basis only if an impairment charge were to be recognized. The Group’s

non-financial

assets such as property, equipment and software, would be measured at fair value only if they were determined to be impaired.

(m)	Property, Plant and Equipment, net

Property, plant and equipment are stated at cost. Depreciation and amortization are calculated using the straight line method over the following estimated useful lives, taking into account residual value, if any. The table below sets forth the estimated useful life and residual value:


Category	Estimated useful life	Residual value
Office furniture and equipment	5 years	0%~5%
Computer and electronic equipment	3~5 years	0%~5%
Motor vehicles	4~5 years	5%
Leasehold improvements	shorter of remaining lease period and estimated useful life	Nil

Expenditures for maintenance and repairs are expensed as incurred. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation/amortization are removed from the accounts and any resulting gain or loss is recognized in consolidated statement of comprehensive (loss)/income.

(n)	Intangible assets, net

Intangible assets represent domain name and purchased computer software. These intangible assets are amortized on a straight line basis over their estimated useful lives of the respective assets.

The table below sets forth the estimated useful life and residual value:

Category	Estimated useful life	Residual value
Domain name	10 years	0%
Purchased computer software	5~10 years	0%

(o)	Impairment of long-lived assets and intangible assets

Long-lived assets including intangible assets with definite lives, are assessed for impairment, whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. The Group measures the carrying amount of long-lived assets against the estimated undiscounted future cash flows associated with it. Impairment exists when the estimated undiscounted future cash flows are less than the carrying value of the asset being evaluated. Impairment loss is calculated as the amount by which the carrying value of the asset exceeds its fair value. No impairment loss was recognized for the years ended December 31, 2017, 2018 and 2019.

(p)	Long-term investments

The Group accounts for long-term investments using either the equity method of accounting or at fair value depending upon whether the Group has the ability to exercise significant influence over investments. As part of this evaluation, the Group considers the participating and protective rights in the investments as well as its legal form.

The Group uses the equity method of accounting for the long-term investments when the Group has the ability to significantly influence the operations or financial activities of the investee. The Group records the equity method long-term investments at historical cost and subsequently adjusts the carrying amount at each period for share of the earnings or losses of the investee and other adjustments required by the equity method of accounting. Dividends received from the equity method investments are recorded as reductions in the cost of such investments.

When the Group does not have significant influence and the equity method investments do not have readily determinable fair values, the Group elects to measure these investments at cost less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identified or a similar investment of the same issuer.

Long-term investments are evaluated for impairment when facts or circumstances indicate that the fair value of the long-term investments is less than its carrying value. An impairment is recognized when a decline in fair value is determined to be other-than-temporary. The Group reviews several factors to determine whether a loss is other-than-temporary. These factors include, but are not limited to, the: (i) nature of the investment; (ii) cause and duration of the impairment; (iii) extent to which fair value is less than cost; (iv) financial condition and near term prospects of the investments; and (v) ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value.

(q)	Short-term and Long-term borrowings

The Short-term and Long-term borrowings represent our borrowings from commercial banks for our working capital. Short-term borrowings includes borrowings with maturity terms shorter than one year and the current portion of the long-term borrowings.

(r)	Insurance Premium Payables

Insurance premium payables are insurance premiums collected on behalf of insurance companies but not yet remitted as of the balance sheet dates, and insurance premiums due but not yet collected from the insured.

(s)	Share-based Compensation

Employee share-based compensation

All forms of share-based payments to employees, including employee stock options, employee stock purchase plans restricted shares and shares award, are treated the same as any other form of compensation by recognizing the related cost in the consolidated statements of comprehensive income in accordance with ASC 718, “Stock Compensation”. In accordance with the guidance, the Company determines whether a share option should be classified and accounted for as a liability award or an equity award. Compensation cost related to employee stock options or similar equity instruments is measured at the grant date based on the fair value of the award. The fair value of a liability-classified award will be

re-measured

to an updated fair value at each reporting period until the award is settled. The compensation cost is recognized over the requisite service period, which is usually the vesting period. If an award requires satisfaction of one or more performance or service conditions (or any combination thereof), compensation cost is recognized if the requisite service is rendered, and no compensation cost is recognized if the requisite service is not rendered. For liability-classified award, the Group will true up compensation cost each reporting period for changes in fair value

pro-rated

for the portion of the requisite service period rendered. The Group recognizes compensation cost for an award with both a service condition and a performance condition that has a graded vesting features using graded vesting method over the requisite service period for the entire award, provided that the amount of compensation cost recognized at any date must at least equal the portion of the grant-date value of the award that is vested at that date. If awards with market or performance conditions include graded vesting features, the graded vesting method should be used and the straight-line method should not be used. Additionally, if an award includes both a service condition and a market or performance condition, the graded vesting method should be used. No compensation cost is recognized for instruments that employees forfeit because a service condition or a performance condition is not satisfied.

Share-based compensation expenses of RMB 811 thousand, RMB 967 thousand and RMB 94,958 thousand for the years ended December 31, 2017, 2018 and 2019, respectively, were included in cost of revenue, selling expenses, general and administrative expenses and research and development expenses.

(t)	Fair Value of Redeemable Preferred Shares and Common Shares

Shares of the Company, which do not have quoted market prices, were valued based on the income approach. The income approach involves applying the discounted cash flow analysis based on projected cash flow using the Group’s best estimate as of the valuation dates. Estimating future cash flow requires the Group to analyze projected revenue growth, gross margins, effective tax rates, capital expenditures and working capital requirements. In determining an appropriate discount rate, the Group considered the cost of equity and the rate of return expected by venture capitalists. The Group also applied a discount for lack of marketability given that the shares underlying the award were not publicly traded at the time of grant. Determination of estimated fair value of the Group requires complex and subjective judgments due to its limited financial and operating history, unique business risks and limited public information on companies in China similar to the Group.

Option-pricing method was used to allocate enterprise value to redeemable preferred shares and common shares. The method treats redeemable preferred shares and common shares as call options on the enterprise’s value, with exercise prices based on the redeemable preferred shares. The strike prices of the “options” based on the characteristics of the Group’s capital structure, including number of shares of each class of common shares, seniority levels and redemption values for the redeemable preferred shares. The option-pricing method also involves making estimates of the volatility of the Group’s equity securities. The anticipated timing is based on the plans of board of directors and management of the Group. Estimating the volatility of the share price of a privately held company is complex because there is no readily available market for the shares. Volatility is estimated based on annualized standard deviation of daily stock price return of comparable companies.

(u)	Redeemable Preferred Shares and Convertible Bond

Accounting of Redeemable Preferred Shares

The Company classified the redeemable preferred shares as mezzanine equity in the consolidated balance sheets because they were redeemable at the holders’ option any time after a certain date and were contingently redeemable upon the occurrence of certain events outside of the Company’s control. The redeemable preferred shares are recorded initially at fair value, net of issuance costs.

The Group determined that the redemption features do not require bifurcation as they either are clearly and closely related to the redeemable preferred shares or do not meet the definition of a derivative.

The Group has determined that there was no embedded beneficial conversion feature (“BCF”) attributable to the redeemable preferred shares. In making this determination, the Group compared the initial effective conversion prices of the redeemable preferred shares and the fair values of the Group’s common shares determined by the Group at the issuance dates. The initial effective conversion prices were greater than the fair values of the common shares to which the redeemable preferred shares are convertible into at the issuance dates.

Subsequently, the carrying amount is increased by periodic accretion, using the interest method, so that the carrying amount will equal to mandatory redemption amount the redemption date.

Accounting of convertible bond

The Company determined convertible bond, which were classified as liabilities, was initially measured at par under ASC 470 and subsequently stated at amortized cost plus accrued unpaid interest.

The Company has determined that there was a BCF as its conversion price is lower than the Company’s stock price at the commitment date. The BCF was recognized as a discount to the convertible bond and subsequently amortized as interest expenses using the effective interest method over the period from the issuance date to the maturity date

(v)	Employee Benefit Plans

As stipulated by the regulations of the PRC, the Group’s subsidiaries and VIE in the PRC participate in various defined contribution plans organized by municipal and provincial governments for its employees. The Group is required to make contributions to these plans at a percentage of the salaries, bonuses and certain allowances of the employees. Under these plans, certain pension, medical and other welfare benefits are provided to employees. The Group has no other material obligation for the payment of employee benefits associated with these plans other than the annual contributions described above. The contributions are charged to the consolidated statements of income and comprehensive income as they become payable in accordance with the rules of the above mentioned defined contribution plans

(w)	Revenue recognition

Revenue is the transaction price the Group expects to be entitled to in exchange for the promised services in a contract in the common course of the Group’s activities and is recorded net of value-added tax (“VAT”). The services to be accounted for mainly include insurance brokerage and consulting services.

The Group has early adopted ASU

2014-09,

Revenue from Contracts with Customers (Topic 606) and all subsequent ASUs that modified ASC 606 on January 1, 2017.

The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, the Group applies the following steps:

•

Step 1: Identify the contract (s) with a customer

•

Step 2: Identify the performance obligations in the contract

•

Step 3: Determine the transaction price

•

Step 4: Allocate the transaction price to the performance obligations in the contract

•

Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation

Insurance brokerage services

The primary source of revenues is commissions from insurance brokerage services, determined based on a percentage of premiums paid by insured. The brokerage fee rate, which is paid by the insurance companies, shall be based on the terms specified in the annual service contract with the insurance company for each product sold through the Group. The Group determines that the insurance company, or the insurer, is its customer in this agreement. Insurance brokerage services revenue is recognized when the signed insurance policy is in place and the premium is collected from the insured since the Company has fulfilled its performance obligation to sell an insurance policy on behalf of the insurance company.

The Group is also entitled to a performance bonus from insurance companies if the cumulative average monthly sales volume exceeds a predetermined level. Such bonus is determined at the end of each month and recognized as revenue.

Consulting service

For cargo insurance products, in addition to the commission from brokerage service paid by the insurance companies, the Group also generates service fees from rendering consulting service to assist the insured to obtain such a cargo insurance policy. The Group determines that the insured is its customer in this consulting service arrangement. Upon successful purchase of cargo insurance products by the insured, the Group’s performance obligation related to consulting service to the insured has been fully fulfilled, as such, revenue for those services is recognized when the insurance product has been purchased. While the insurance premium is set by the respective insurance companies, the consulting service fee is determined by the Group based on a percentage of insurance premium. Of the total contract price received from the insured, the amount equal to the premium of the cargo insurance product as agreed with insurance company is recorded as insurance premium payable while the remaining is recorded as revenue for the consulting service.

Value added tax

The Group is subject to

value-added-tax

(“VAT”) on the revenues earned for services provided in the PRC. The applicable rate of value added tax is 6%. In the accompanying consolidated statements of comprehensive (loss) /income, such VAT is excluded from net revenues.

(x)	Cost of revenue

A large component of the Group’s cost of revenue is channel cost, which is service fee paid to user traffic channels for successful sales, including social media influencers, emerging media channels and financial institutions. These user traffic channels have influences over their followers and users, who are potential insurance policyholders. Determination of channel cost is based on the service fee rate multiplied by the insurance premium sold. Channel cost is recognized in the period it incurred.

Another component of cost of revenue is payroll of insurance consultants, who are in charge of identifying and acquiring potential customers through providing advices related to insurance product.

(y)	Selling expenses

The Group records its marketing campaign expenses and loyalty points as selling expenses.

Marketing campaign expenses consist primarily of advertising and marketing promotion expenses. Advertising and marketing expenses, amounting to approximately RMB 36,215 thousand, RMB 21,606 thousand and RMB 47,927 thousand for the years ended December 31, 2017, 2018 and 2019, respectively, are charged to the consolidated statements of comprehensive (loss)/income as incurred. Beside marketing campaign expenses, selling expenses consist of salaries and employment benefits for employees who work in brokerage service line, office rental, telecommunications and office supply expenses incurred in connection with sales activities.

The Group operates a loyalty program which offers points to its users. Such loyalty points can be used to redeem a variety of gifts and services that the Group purchased from third-party providers. Users have a variety of ways to obtain the points, such as signing up an account, inviting friends, and comment on the insurance product, etc. The Group accounts for such points as selling expenses with a corresponding liability recorded under other payables and accrued expenses of consolidated balance sheets upon the offering of these points. The Group estimates liabilities under the loyalty program based on cost of the gifts and services that can be redeemed taking into account estimated breakage. At the time of redemption, the Group records a reduction of other payables and accrued expenses.

(z)	General and Administrative Expenses

General and administrative expenses consist of payroll, rental, and related expenses for employees involved in general corporate functions, including finance, legal and human resources, as well as costs associated with use of facilities and equipment, such as depreciation expenses and other general corporate related expenses.

General and administrative expenses also includes surcharges on VAT payments according to PRC tax.

(aa)	Others, net

Others, net, mainly consist of

non-operating

income and expenses, such as government subsidies.

(bb)

Taxation

Current income taxes are provided on the basis of net income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions.

Deferred income taxes are recognized for temporary differences between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements, net operating loss carry forwards and credits. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided in accordance with the laws of the relevant taxing authorities. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in which temporary differences are expected to be received or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in the consolidated statement of comprehensive (loss) /income in the period of the enactment of the change.

The Group considers positive and negative evidence when determining whether a portion or all of its deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carry-forward periods, its experience with tax attributes expiring unused, and its tax planning strategies. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry-forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Group has considered possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry-forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry.

The Group recognizes a tax benefit associated with an uncertain tax position when, in its judgment, it is more likely than not that the position will be sustained upon examination by a taxing authority. For a tax position that meets the

more-likely-than-not

recognition threshold, the Group initially and subsequently measures the tax benefit as the largest amount that the Group judges to have a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority. The Group’s liability associated with unrecognized tax benefits is adjusted periodically due to changing circumstances, such as the progress of tax audits, case law developments and new or emerging legislation. Such adjustments are recognized entirely in the period in which they are identified. The Group’s effective tax rate includes the net impact of changes in the liability for unrecognized tax benefits and subsequent adjustments as considered appropriate by management. The Group classifies interest and penalties recognized on the liability for unrecognized tax benefits as income tax expense.

(cc)	Net profit/(loss) per share

Basic profit/(loss) per share is computed by dividing net profit/(loss) attributable to common shareholders by the weighted average number of common shares outstanding during the period using the

two-class

method. Under the

two-class

method, net income is allocated between common shares and other participating securities based on their participating rights. Net profit/ (loss) is not allocated to other participating securities if based on their contractual terms they are not obligated to share in the profit or loss. Diluted profit/(loss) per share is calculated by dividing net profit/(loss) attributable to common shareholders by the weighted average number of common and dilutive common equivalents shares outstanding during the period. Common equivalents shares consist of shares issuable upon the conversion of the redeemable preferred shares using the

if-converted

method, and shares issuable upon the exercise of share options using the treasury stock method. Common equivalents shares are not included in the denominator of the diluted profit/(loss) per share calculation when inclusion of such shares would be anti-dilutive.

(dd)	Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The Group determines that their chief executive officer (“CEO”) is the chief operating decision-maker.

The Group manages its business as a single operating segment engaged in the provision of insurance brokerage services in the PRC. Substantially all of its revenues are derived in the PRC. All long-lived assets are located in PRC.

(ee)	Significant Risk and Uncertainties

Currency risk

The RMB is not a freely convertible currency. The State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into foreign currencies. The value of RMB is subject to changes in central government policies and international economic and political developments that affect supply and demand in the China Foreign Exchange Trading System market of cash and cash equivalents and restricted cash. The Group had aggregate amounts of RMB 149,908 thousand and RMB 247,354 thousand of cash and cash equivalents and restricted cash denominated in RMB as of December 31, 2018 and 2019, respectively.

Concentration of Credit Risk

Details of the customers accounting for 10% or more of total operating revenue are as follows:


	Year ended December 31
	2017		%			2018		%			2019		%
	RMB					RMB					RMB
Customer B		—		—			99,425		20	%		184,035		19	%
Customer C		—		—			44,296		9	%		142,443		14	%
Customer H		—		—			—		—			124,946		13	%
Customer A		18,820		7	%		100,123		20	%		94,182		9	%

		18,820		7	%		243,844		49	%		545,606		55	%

Details of the customers which accounted for 10% or more of accounts receivable are as follows:


	At December 31
	2018		%			2019		%
	RMB					RMB
Customer I		—		—			42,444		24	%
Customer A		9,300		9	%		35,128		19	%
Customer J		612		1	%		33,380		19	%
Customer B		11,970		11	%		16,945		9	%
Customer C		33,146		30	%		8,419		5	%

		55,028		51	%		136,316		76	%

The Group performs ongoing credit evaluations of its customers and generally does not require collateral on accounts receivable.

The Group places its cash and cash equivalents with financial institutions with high-credit ratings and quality.

Interest rate risk

Fluctuations in market interest rates may negatively affect the Group’s financial condition and results of operations. The Group have not been exposed to material risks due to changes in market interest rates as the borrowings held by the Group all bear interest at a fixed interest rate.

(ff)	Recent Accounting Pronouncements

In May 2014, the FASB issued ASU

2014-09,

“Revenue from Contracts with Clients (Topic 606) (“ASU

2014-09”)

and subsequently, the FASB issued several amendments which amend certain aspects of the guidance in ASC

2014-09

(ASU

No. 2014-09

and the related amendments are collectively referred to as “ASC 606”). According to ASC 606, revenue is recognized when control of the promised good or service is transferred to the clients, in an amount that reflects the consideration. The Group expects to be entitled to in exchange for those goods or services. The Group will enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of allowances for returns, and any taxes collected from clients, which are subsequently remitted to governmental authorities. The Group adopted ASC 606 using the full retrospective method for all periods presented.

In February 2016, the FASB issued ASU

No. 2016-02,

Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet. This ASU requires lessees to recognize a

right-of-use

asset and lease liability for all leases with terms of more than 12 months. Lessees are permitted to make an accounting policy election to not recognize the asset and liability for leases with a term of twelve months or less. The ASU does not significantly change the lessees’ recognition, measurement and presentation of expenses and cash flows from the previous accounting standard. Lessors’ accounting under the ASC is largely unchanged from the previous accounting standard. In addition, the ASU expands the disclosure requirements of lease arrangements. Lessees and lessors will use a modified retrospective transition approach, which includes a number of practical expedients. For public business entities, the provisions of this guidance are effective for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. For all other entities, the provisions of this guidance are effective for annual periods beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. The Group will adopt the new standard effective for the year ending 31 December, 2020

, using modified retrospective approach.

Upon transition, the

Group plans

to apply the package of practical expedients permitted under Topic 842 transition guidance to the entire lease portfolio at 1 January, 2020. As a result, the

Group

is not required to estimate (i)whether any expired or existing contracts are or contain leases, (ii)the classification of any expired or existing leases, (iii)initial direct costs for any existing leases and (iv)not to separate lease and

non-lease

components. As a result of adoption of ASC 842, The Group estimates approximately RMB 5,504 thousand would be recognized as total

right-of

use assets and total lease liabilities, respectively in the consolidated balance sheets as of January 1, 2020.

In June 2016, the FASB issued ASU

2016-13,

Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The ASU requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. Organizations will continue to use judgment to determine which loss estimation method is appropriate for their circumstances. The ASU requires enhanced disclosures to help investors and other financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. These disclosures include qualitative and quantitative requirements that provide additional information about the amounts recorded in the financial statements. In addition, the ASU amends the accounting for credit losses on

available-for-sale

debt securities and purchased financial assets with credit deterioration. For public business entities that are U.S. SEC filers, the ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 2021. The Group is in the process of evaluating the impact of adoption of this guidance on the Group’s consolidated financial statements.

In November 2016, the FASB issued ASU

2016-18,

Statement of Cash Flows (Topic 230) (“ASU

2016-18”).

This ASU affects all entities that have restricted cash or restricted cash equivalents and are required to present a statement of cash flows under Topic 230. ASU

2016-18

requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. This update will become effective for fiscal years beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019, and early adoption is permitted in any interim or annual period. The Group has early adopted the ASU for the periods presented.

In May 2017, the FASB issued ASU

2017-09,

“Compensation—Stock compensation (Topic 718): Scope of modification accounting” to clarify when to account for a change to the terms or conditions of a share-based payment award as a modification. ASU

2017-09

is effective prospectively for all companies for annual periods beginning on or after December 15, 2017, and early adoption is permitted. The Group adopted this new standard effective on January 1, 2018. The adoption of ASU

2017-09

did not have a material impact on the Group’s consolidated financial statements.

In August 2018, the FASB issued ASU

2018-13,

‘‘Fair Value Measurement (Topic 820)’’.This standard modifies disclosure requirements related to fair value measurement and is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted. Implementation on a prospective or retrospective basis varies by specific disclosure requirement. The standard also allows for early adoption of any removed or modified disclosures upon issuance while delaying adoption of the additional disclosures until their effective date. The Group is currently assessing the impact of adopting this standard on its consolidated financial statements.

In December 2019, the FASB issued ASU

2019-12,

‘‘Income Taxes (Topic 740)’’. This standards simplifies the Accounting for Income Taxes, removes certain exceptions for recognizing deferred taxes for investments, performing

intra period

tax allocations and calculating income taxes in interim periods. The ASU also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating income taxes to members of a consolidated group. ASU

2019-12

is effective for annual periods beginning on January 1, 2021, with earlier adoption permitted. The Group intends to adopt the ASU on the effective date of January 1, 2021 and

is currently

assessing

the

impact

of adopting this standard on its consolidated financial statements.

In January 2020, the FASB issued

ASU

2020-1, “investments—equity securities (Topic 321)”. The amendments in this Update clarify the interaction of the accounting for equity securities under Topic 321 and investments under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. ASU 202o-01 is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with earlier adoption permitted. The Group intends to adopt the ASU on the effective date of January 1, 2022 and is currently assessing the impact of adopting this standard on its

consolidated financial statements.

Accounts Receivable, Net of Allowance for Doubtful Accounts

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Accounts Receivable, Net of Allowance for Doubtful Accounts

3. Accounts receivable, net of allowance for doubtful accounts

Account receivables, net of allowance for doubtful accounts by the Group consist of the following:


	As of
	December 31, 2018			December 31, 2019
	RMB			RMB
Accounts receivable		109,008			181,520
Less: allowance for doubtful accounts		(574	)		(1,127	)

Accounts receivable, net		108,434			180,393

The following table summarizes the movement of the Group’s allowance for doubtful accounts:


	As of
	December 31, 2018			December 31, 2019
	RMB			RMB
Balance at the beginning of the year		312			574
Provision for doubtful accounts		376			626
Write-offs		(114	)		(73	)

Balance at the end of the year		574			1,127

Related Party Balances and Transactions

12 Months Ended

Dec. 31, 2019

Related Party Balances and Transactions

4. Related party balances and transactions

The table below sets major related parties of the Group and their relationships with the Group:


Entity or individual name		Relationship with the Group
Cunjun Ma		Chief Executive Officer and Director of the Group
Individual Director or Officer		Directors or Officers of the Group
Shareholders and minority shareholders		Shareholders and minority shareholders

	As of
	December 31, 2018			December 31, 2019
		RMB		RMB
Amounts due from related parties
Cunjun Ma(a)			1,850		—
Shareholders			8,696		280

			10,546		280


	As of
	December 31, 2018		December 31, 2019
	RMB		RMB
Amounts due to related parties
Cunjun Ma(b)		—		465

		—		465

(a)

The amount due from Mr. Cunjun Ma represents personal cash advances. The amount has been repaid in full in March 2019. The amount due from Shareholders represents the subscribed capital contribution that one of the shareholders, Huidecheng Investment Development, L.P. has not paid. The Group has received the full amount from Huidecheng Investment Development, L.P. on April 19, 2019.

The remaining amount represents the advance miscellaneous fees for shareholders.

(b)	The amount due to Mr. Cunjun Ma represents the general expenses paid by Mr. Cunjun Ma in advance. The amount has been repaid by the Company in full in April 2020.

Prepaid expenses and other receivables and Other assets

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid expenses and other receivables and Other assets

5. Prepaid expenses and other

receivables

and

Other assets

Prepaid expenses and other receivables consist of the following:


	As of
	December 31, 2018		December 31, 2019
	RMB		RMB
Current portion:
Advances to suppliers		4,881		7,341
Prepaid input value-added tax		2,598		6,000
Directors and Officers Liability Insurance premium		—		5,181
Rental and other deposits		2,644		4,697
Interest receivables (a)		1,489		2,372
Claim advance on behalf of insurer		6,555		1,671
Government subsidy		1,378		1,378
Advances to staff (b)		937		402
Others		114		154

		20,596		29,196

Non-Current portion:
Capitalized IPO expenses		3,831		13,746
Others		—		417
		3,831		14,163

(a)	This represented accrued interest income on bank deposits.

(b)	This represented advances to staff of the Group for daily business operations which are unsecured, interest-free and repayable on demand.

Property, Plant and Equipment, net

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

6. Property, Plant and Equipment, net

Property, plant and equipment, net, consist of the following:


	As of
	December 31, 2018			December 31, 2019
	RMB			RMB
Computer and electronic equipment		8,974			12,478
Leasehold improvements		4,123			4,873
Office furniture and equipment		2,848			2,774
Motor vehicles		987			987

Total		16,932			21,112
Less: Accumulated depreciation (1)		(10,578	)		(13,106	)

Property, equipment and equipment, net		6,354			8,006

(1)	Depreciation expenses for the years ended December 31, 2017, 2018 and 2019 were RMB 3,377 thousand, RMB 2,790 thousand and RMB 3,441 thousand, respectively.

No impairment for property, plant and equipment was recorded for the years ended December 31, 2017, 2018 and 2019.

Intangible Assets, Net

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

7. Intangible assets, net

The intangible assets, net consisted of the following:


	As of
	December 31, 2018			December 31, 2019
	RMB
Software and system		1,347			2,141
Domain name		580			580

Total		1,927			2,721
Less: Accumulated amortization (1)		(730	)		(1,069	)

Intangible assets, net		1,197			1,652

(1)	Amortization expenses for the years ended December 31, 2017, 2018 and 2019 was RMB 185 thousand, RMB 292 thousand and RMB 338 thousand, respectively.

No impairment for intangible assets was recorded for the years ended December 31, 2017, 2018 and 2019.

The amortization of the coming 5 years is:


	As of
	December 31, 2019
	RMB
2020		358
2021		352
2022		306
2023		194
2024		151

Long-term Investments

12 Months Ended

Dec. 31, 2019

Investment Company [Abstract]

Long-term Investments

8. Long-term investments


	Equity securities without readily determinable fair value		Equity Method			Total
	RMB		RMB			RMB
Balances at January 1, 2017		10,000		—			10,000
Additions		—		6,776			6,776
Share of earnings of an equity investee		—		989			989

Balances at December 31, 2017		10,000		7,765			17,765

Additions		2,500		—			2,500
Share of earnings of an equity investee		—		1,310			1,310

Balances at December 31, 2018		12,500		9,075			21,575

Additions		2,000					2,000
Share of earnings/(loss) of an equity investee		—		(180	)		(180	)

Balances at December 31, 2019		14,500		8,895			23,395

Equity securities without readily determinable fair value

As of December 31, 2018 and 2019, the Group held investment in certain equity securities without readily determinable fair value. No observable price changes on impairment were noted during the years ended December 31, 2018 and 2019.

Equity method

As of December 31, 2018 and 2019, the Group’s investments

accounted for under the equity method was RMB 9,075 thousand and RMB 8,895 thousand respectively. The Group applies the equity method of accounting to account for its equity investments over which it has significant influence but does not own a majority equity interest or otherwise control.

During the year ended December 31, 2017, the Group invested RMB 6,776 thousand in cash for 4.15% equity interest in a private entity, Shenzhen Chuangbicheng Holding Co. Ltd. (Chuangbicheng). As the Group has significant influence over the private entit

through its one fifth representation on the board, the investment was accounted for using the equity method.

During the year ended December 31, 2019, the Group’s investment in Chuangbicheng decreased to 3.43%

and no longer owns any seat on the board. However, as the Group contributed

34.87%

of Chuangbicheng’s revenue during the year ended December 31, 2019, the Group considered it still had significant influence over Chuangbicheng and used equity method to account for this investment. The Company will continue to assess the existence of significant influence in the future.

Short-term Borrowing

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Short-term Borrowing

9. Short-term borrowing


	As of
	December 31, 2018		December 31, 2019
	RMB		RMB
Bank borrowings (1)		13,000		30,000
Current portion of long-term borrowings (note 13)		11,267		6,880

		24,267		36,880

(1)	The Group obtained short-term borrowings to support its operation. The borrowings bear interest ranging from 5.87% to 8.00% as of both December 31, 2018 and 2019.

Other Payables and Accrued Expenses and Other Non-Current Liabilities

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

Other Payables and Accrued Expenses and Other Non-Current Liabilities

10. Other payables and accrued expenses and Other

non-current

liabilities

Components of other payables and accrued expenses are as follows:


	As of
	December 31, 2018		December 31, 2019
	RMB		RMB
Current portion:
Professional fees		5,999		9,807
Other tax payables		5,287		7,469
Other payable to suppliers		478		5,992
Advances from insured		2,835		3,593
Government h ousing Benefit		660		840
Rental expense payable		9,082		637
Accrued marketing expense -loyalty points		2,074		595
Deposits		414		269
Interest payable		493		53
Payable to convertible bond holders (1)		8,794		—
Others		792		956

		36,908		30,211

Non-Current portion:
Payables for long-term assets		—		518

Other non-current liabilities total		—		518

(1)	It is the balance of convertible bond for which conversion option was not exercised and was subsequently repaid in March 2019.

Employee Benefits

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Employee benefits

11. Employee benefits

Full-time employees of the Group in the PRC are entitled to welfare benefits including pension insurance, medical insurance unemployment insurance, maternity insurance,

on-the-job

injury insurance, and housing fund plans through a PRC government-mandated defined contribution plan. Chinese labor regulations require that the Group makes contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Group has no legal obligation for the benefits beyond the contributions. Total contributions by the Group for such employee benefits were RMB 25,161 thousand, RMB 22,750 thousand and RMB 30,248 thousand for the years ended

December 31, 2017, 2018 and 2019, respectively.

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income taxes

12. Income taxes

Cayman Islands

The Company was incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gain. Additionally, upon payments of dividends to the shareholders, no Cayman Islands withholding tax will be imposed.

Hong Kong

Under the current Hong Kong Inland Revenue Ordinance, Installment Hong Kong is subject to 16.5% income tax rate on its taxable income generated from operations in Hong Kong. Additionally, payments of dividends by the subsidiaries incorporated in Hong Kong to the Company are not subject to any Hong Kong withholding tax.

China

The Company’s subsidiaries, consolidated VIE and subsidiary of the VIE established in the PRC are mainly subject to statutory income tax at a rate of 25%.

On April 14, 2008, relevant governmental regulatory authorities released qualification criteria, application procedures and assessment processes for “high and new technology enterprises” (“HNTE”). The HNTE will be entitled to a favorable statutory tax rate of 15%. An enterprise’s qualification as a HNTE is reassessed by the relevant PRC governmental authorities every three years. On November 2, 2015, the local governments announced that SZ Huize was qualified as HNTE and was subject to a preferential statutory tax rate of 15% since then. Accordingly, SZ Huize was taxed at a rate of 15% after 2015, subject to reassessment. In 2018, SZ Huize failed to pass the reassessment of HNTE certification, therefore SZ Huize is subject to statutory income tax at a rate of 25% from 2018 and then after.

On November 2, 2018, the local governments announced that Huize Technology was qualified as HNTE and was subject to a preferential statutory tax rate of 15% since then. Accordingly, Huize Technology will be taxed at a rate of 15% after November, 2018, subject to reassessment.

The Enterprise Income Tax (“EIT”) Law includes a provision specifying that legal entities organized outside of the PRC will be considered resident enterprises for the PRC income tax purposes if the place of effective management or control is within the PRC. The implementation rules to the EIT Law provide that

non-resident

legal entities will be considered as PRC resident enterprises if substantial and overall management and control over the manufacturing and business operations, personnel, accounting, properties, etc., occurs within the PRC. Despite the present uncertainties resulting from the limited PRC tax guidance on the issue, the Group does not believe that the Group’s entities organized outside of the PRC should be treated as resident enterprises for the PRC income tax purposes. If the PRC tax authorities subsequently determine that the Company and its subsidiary registered outside the PRC should be deemed resident enterprises, the Company and its subsidiary registered outside the PRC will be subject to the PRC income tax, at a rate of 25%.

The EIT Law also imposes a withholding income tax of 10% on dividends distributed by a FIE to its immediate holding company outside of China, if such immediate holding company is considered as a

non-resident

enterprise without any establishment or place within China or if the received dividends have no connection with the establishment or place of such immediate holding company within China, unless such immediate holding company’s jurisdiction of incorporation has a tax treaty with China that provides for a different withholding arrangement. The Cayman Islands, where the Company incorporated, does not have such tax treaty with China. According to the arrangement between the mainland China and Hong Kong Special Administrative Region on the Avoidance of Double Taxation and Prevention of Fiscal Evasion in August 2006, dividends paid by an FIE in China to its immediate holding company in Hong Kong will be subject to withholding tax at a rate of no more than 5% (if the foreign investor owns directly at least 25% of the shares of the FIE). In accordance with accounting guidance, all undistributed earnings are presumed to be transferred to the parent company and are subject to the withholding taxes. All FIEs are subject to the withholding tax from January 1, 2008. Under U.S. GAAP, undistributed earnings are presumed to be transferred to the parent company and are subject to the withholding taxes. The presumption may be overcome if the Group has sufficient evidence to demonstrate that the undistributed dividends will be

re-invested

and the remittance of the dividends will be postponed indefinitely. The Group did not record any dividend withholding tax, as it has no retained earnings for any of the periods presented.

Composition of income tax expense

The current and deferred portions of income tax expense included in the consolidated statements of comprehensive (loss)/income during the year ended December 31, 2017, 2018 and 2019 are as follows:


	For the Year Ended December 31, 2017		For the Year Ended December 31, 2018		For the Year Ended December 31, 2019
	RMB		RMB
Current income tax expense		167		88		37
Deferred income tax expense		239		190		20

Income tax expense		406		278		57

Tax Reconciliation

Reconciliation between the income tax expense computed by applying the EIT tax rate to income before income taxes and actual provision were as follows:


	For the Year Ended December 31, 2017			For the Year Ended December 31, 2018			For the Year Ended December 31, 2019
	RMB			RMB			RMB
(Loss)/profit before income tax		(96,639	)		3,206			15,025
Tax (benefit)/expense at EIT tax rate of 25%		(24,159	)		802			3,756
Effect of different tax rates applicable to different subsidiaries of the Group		6,628			6,381			(3,394	)
Changes in valuation allowance		20,211			(9,343	)		(24,412	)
Investment income not subject to tax		(93	)		(17	)		(171	)
Expenses not deductible for tax purposes		2,448			2,679			29,067
Research and development tax credit		(4,629	)		(3,261	)		(4,789	)
Effect on deferred tax assets due to change in tax rates		—			3,037			—

Income tax expense		406			278			57

Deferred tax assets and deferred tax liabilities

The following tables sets forth the significant components of the deferred tax assets and deferred tax liabilities:


	December 31, 2018			December 31, 2019
	RMB			RMB
Deferred tax assets
Net accumulated losses-carry forward		55,346			30,177
Depreciation and amortization		76			118
Allowance for doubtful accounts		93			251
Accrued expenses		2,245			2,729
Less: valuation allowance		(57,623	)		(33,211	)
Net deferred tax assets		137			64
Deferred tax liabilities
Gain on equity method investee		575			530
Net deferred tax liabilities		575			530

Movement of valuation allowance


	December 31, 2017		December 31, 2018			December 31, 2019
	RMB		RMB			RMB
Balance at the beginning of the year		46,755		66,966			57,623
Additions		20,211		7,182			2,173
Reversals		—		(16,525	)		(26,585	)

Balance at end of the year		66,966		57,623			33,211

Valuation allowance is provided against deferred tax assets when the Group determines that it is

more-likely-than-not

that the deferred tax assets will not be utilized in the future. The Group considers positive and negative evidence to determine whether some portion or all of the deferred tax assets will be

more-likely-than-not

realized. This assessment considers, among other matters, the nature, frequency and severity of recent losses and forecasts of future profitability. These assumptions require significant judgment and the forecasts of future taxable income are consistent with the plans and estimates the Group is using to manage the underlying businesses. The statutory rate of 25%, 15% or 16.5%, depending on which entity, was applied when calculating deferred tax assets.

As of December 31, 2017, 2018 and 2019, the Group had net operating loss carryforwards of approximately RMB 61,770 thousand, RMB 55,346 thousand and RMB 30,177 thousand, respectively, which arose from the subsidiaries, VIE and the VIE’s subsidiary established in PRC. As of December 31, 2017, 2018 and 2019, of the net operating loss carryforwards, RMB 61,770 thousand, RMB 55,217 thousand and RMB 30,113 thousand was provided for valuation allowance respectively, while the remaining RMB nil thousand, RMB 129 thousand and RMB 64 thousand is expected to be utilized prior to expiration considering future taxable income for respective entities. In 2017, 2018 and 2019, the net operating loss carry forward of Shenzhen Huize, Huize Technology and Chengdu Huize was provided for the addition of valuation allowance, because it was more likely than not that such deferred tax assets will not be realized based on the Group’s estimates of its future taxable income. In 2018, the reversal of valuation allowance was mainly due to net operating loss carry forward of Huize Technology because Huize Technology was qualified as HNTE in 2018 and the tax rate changed from 25% in 2017 to 15% in 2018. In 2019, the reversal of valuation allowance was mainly caused by the decrease of net operation loss carry forward of Shenzhen Huize and Hefei Huize, both of which were tax profitable during 2019.

According to the Circular of relevant governmental regulatory authorities of Taxation on Extending the Loss Carry-over Period of High-tech Enterprises and High-tech SMEs (Cai Shui [2018] No. 76), from January 1, 2018, the enterprises that have the qualifications of high-tech enterprises or high-tech SMEs will be able to make up for the losses that have not been completed in the previous five years before the qualification year. The longest carry-over period is extended from 5 years to 10 years. As of December 31, 2019, the net operating loss carryforwards will expire during the period from 2019 to 2029, if unused.

Uncertain tax positions

The Group did not identify significant unrecognized tax benefits for the years ended December 31, 2017, 2018 and 2019. The Group did not incur any interest related to unrecognized tax benefits, did not recognize any penalties as income tax expense and also does not anticipate any significant change in unrecognized tax benefits within 12 months from December 31, 2019.

Long-term Borrowing

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Long-term borrowing

13. Long-term borrowing

The following table summarizes the details of the Group’s long-term borrowings:


	Maturity Date		Principal Amount		Interest Rate			As of
Type	Maturity Date		Principal Amount		Per Annum			December 31, 2018			December 31, 2019
								RMB
Bank loan		January 10, 2020		25,000		7.00	%		11,267			62
Bank loan		September 30, 2020		15,000		7.00	%		15,804			6,818
Total									27,071			6,880

Less: Current portion of long-term borrowings									(11,267	)		(6,880	)

									15,804			—

The above loan was guaranteed by Huiye Tianze and by the Group’s accounts receivable, amounted to RMB 70,690 thousand, RMB 108,434 thousand were pledged as collateral as of December 31, 2017 and 2018. As of December 31, 2019,

there were

assets pledged as collateral, the loan is

guaranteed by

the credit of

Huiye Tianze. Interest is payable on a monthly basis.

Common Shares

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Common shares

14. Common shares

The Company’s Memorandum and Articles of Association authorizes the Company to issue up to 4,549,953,780 common shares with a par value of US$0.00001 per shares. As of December 31, 2018 and 2019, the Company has 445,272,000 shares, 445,272,000 shares and 483,310,373 shares issued and outstanding. Each common share is entitles to one vote. The holders of common shares are also entitled to receive dividends whenever funds are legally available and when declared by the Board of Directors, subject to prior rights of holders of all other classes of shares

outstanding.

Redeemable Preferred Shares and Convertible Bond

12 Months Ended

Dec. 31, 2019

Temporary Equity Disclosure [Abstract]

Redeemable preferred shares and convertible bond

15. Redeemable preferred shares and convertible bond

In September 2014, the Group issued 204,022,000 Series A Redeemable Preferred Shares (“Series A Redeemable Preferred Shares”) for an aggregate purchase price of RMB 39,404,003. Also, the Group upgrade 87,935,500 shares into Series A Redeemable preferred shares when these shares were transferred from Series

Pre-A

shareholders to Series A shareholders.

In March 2016, the Group issued 185,512,580 Series B Redeemable Preferred Shares (“Series B Redeemable Preferred Shares”) for an aggregate purchase price of RMB 200,000 thousand.

In July 2016, the Group issued 43,937,180 Series B+ Redeemable preferred shares (“Series B+ Redeemable Preferred Shares”) for an aggregate purchase price of RMB 62,500 thousand.

In July 2018, the Company issued a convertible bond (“CB”) at an interest rate of 15% per year to certain third party investors for an aggregate principal amount of RMB 33,000 thousand. According to the contract, the CB holders have the right at its sole discretion, to convert the bond into Redeemable Preferred Shares within 20 working days after 90 days from the issuance date (this 90 days is referred to as “CB interest period”) at a conversion price of RMB1.48 per share. The 20

working-day

is a conversion period. If the CB holders decide not to convert, the Company shall repay the principal and interest of the CB that has not been converted into shares within 90 days (“repayment period”). If the Company can not repay the principal and interest in the repayment period, the 2018 CB holders have the right to convert the CB into Redeemable Preferred Shares of the Company at the price of RMB 0.74 per share during 30 working days after the repayment period. During the year ended December 31, 2018, 16,574,460 Redeemable Preferred Shares (“Series B++ Redeemable Preferred Shares) were converted from the convertible bond with the principal amount of RMB 24,520 thousand and interest amount of RMB 907 thousand.

The Group’s redeemable preferred shares activities for the year ended December 31, 2017, 2018 and 2019 are summarized below:


	Series A Shares				Series B Shares				Series B+ Shares				Series B++ Shares
	Number of Shares		Amount (RMB)		Number of Shares		Amount (RMB)		Number of Shares		Amount (RMB)		Number of Shares		Amount (RMB)
Balances as of January 1, 2017		204,022,000		68,528		185,512,580		207,406		43,937,180		64,820		—		—
Redeemable Preferred Shares redemption value accretion		—		4,697		—		16,592		—		5,185		—		—

Balances as of December 31, 2017		204,022,000		73,225		185,512,580		223,998		43,937,180		70,005		—		—

Issuance of Redeemable Preferred Shares		—		—		—		—		—		—		16,574,460		25,427

Redeemable Preferred Shares redemption value accretion		—		5,165		—		17,920		—		5,601		—		432

Balances as of December 31, 2018		204,022,000		78,390		185,512,580		241,918		43,937,180		75,606		16,574,460		25,859

Redeemable Preferred Shares redemption value accretion		—		5,682		—		19,354		—		6,048		—		1,770

Balances as of December 31, 2019		204,022,000		84,072		185,512,580		261,272		43,937,180		81,654		16,574,460		27,629

The redeemable preferred shares issued by the Company carry the following rights:

Voting right and board seats

The Redeemable Preferred Shareholders shall have the right to one vote for each Redeemable Preferred Share, the same as common shareholders.

The Redeemable Preferred Shareholders are entitled to appoint a total of three directors of the Board. To constitute a quorum for the meeting of the Board, it must include the three directors appointed by Redeemable Preferred Shareholders or their entrusted proxies.

Redemption

Redemption Condition for Redeemable Preferred Shares:

The Redeemable Preferred Shares are redeemable in the event of the Company fails to complete a qualified IPO before December 31, 2020;

The redemption price of the investor of Series B+ and Series B is the investment amount of the investors plus the annual rate of return on compound interest of 8% per annum. The redemption price of the investor of Series A and Series B++ is the investment amount of the investors plus the internal rate of return of compound interest of 10% per annum.

The Group accretes changes in the redemption value over the period from the date of issuance of the Redeemable Preferred Shares to their respective earliest redemption date using the contractual interest rate. Changes in the redemption value are considered to be changes in accounting estimates. The accretion will be recorded against retained earnings, or in the absence of retained earnings, by charges against additional

paid-in

capital. Once additional

paid-in

capital has been exhausted, additional charges should be recorded by increasing the accumulated deficit.

Dividends Rights

The Redeemable Preferred Shareholders shall be entitled to receive dividend according to their actual investment ratio, the same as common shareholders.

Share-based Compensation

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Expensed and Capitalized, Amount

16. Share-based compensation

Share-based compensation was recognized in operating expenses for the years ended December 31, 2017, 2018 and 2019 as follows:


	Year ended December 31,
	2017		2018		2019
	RMB		RMB		RMB
Cost of revenue		26		9		43
Selling expenses		196		110		6,514
General and administrative expenses		386		726		87,980
Research and development expenses		203		122		421

		811		967		94,958

Share Options before 2019

During the year ended December 31, 2018, the Group granted a total of 316,360 share options which have a vesting condition of one year.

The following table sets forth the activities under the Company’s share options for the periods ended December 31, 2017, 2018 and 2019:


	Number of options			Weighted Average exercise price		Aggregate intrinsic value RMB
Outstanding at January 1, 2017		9,540,000			0.40
Granted		5,900,000			0.71
Exercised		(960,000	)		0.36
Forfeited		(1,620,000	)		0.56

Outstanding at December 31, 2017		12,860,000			0.53

Granted		316,360			1.42
Exercised		—			—
Forfeited		(2,080,000	)		0.55

Outstanding at December 31, 2018		11,096,360			0.55

Granted		—			—
Exercised		(7,420,000	)		0.56
Forfeited		(3,676,360	)		0.52

Outstanding at December 31, 2019		—			—		—

Exercisable at December 31, 2019		—			—		—

The weighted average grant date fair value of options granted during 2017 and 2018 was RMB 0.65 and RMB 1.22 per share respectively. The total intrinsic value of options exercised during 2017 and 2018 was RMB 886 thousand and RMB nil thousand, respectively. As of December 31, 2019, all the share based compensation expenses were recognized.

Global Share Incentive Plan

In June 2019, the Company adopted a Global Share Incentive Plan (the

“

Global Plan

”), which includes Option Grant, Restricted Shares Plan and Shares Award.

Option Plan

Under the Option Award Agreement, options which granted to employees vest upon satisfaction of a service condition, which is generally satisfied over four years. Additionally, the Option Grant includes a condition where employees can only exercise vested options upon the occurrence of that the Company’s ordinary shares become listed securities, which substantially creates a performance condition (“IPO Condition”). Meanwhile, the Company offers their employees broker-assisted cashless exercise programs to help the employees exercise their stock options without having to use their personal funds to pay for the exercise price. The options are classified as liability-classified award. As at December 31, 2019, The Company granted 19,463,440 share options to certain of its employees. As in February 2020, the Company finished its initial public offering, the share-based compensation cost will be recognized accordingly.

Employees Restricted Shares Plan

Under the Employees Restricted Shares Award Agreement, restricted shares which granted to employees vest upon satisfaction of a service condition, which is generally satisfied over four years. The restriction will be removed along with the satisfaction of the service condition. As at December 31, 2019, the Company granted 23,809,190 restricted common shares to certain senior management through Bodyguard Holding Limited (“Bodyguard”) as a holding platform.

The following table summarized the Company’s restricted shares activities under the Employees Restricted Shares Plan for the year ended December 31, 2019:


	Options to Employees		Weighted Average Grant-Date Fair Value
Non-vested at January 1, 2019		—		—
Granted		23,809,190		4.20
Vested		—		—
Forfeited		—		—

Non-vested at December 31, 2019		23,809,190		4.20

Restricted shares granted to employees are measured based on their grant-date fair values and recognized as compensation cost on a graded-vesting method over the requisite 4 years’ service period. The weighted average grant date fair value of restricted shares were RMB 4.20 per share. As at December 31, 2019, there were a total of RMB 27,102 thousand share-based compensation expenses were recognized and RMB 72,923 thousand unrecognized share based compensation

Shares Award

Under the Shares Award Agreement, 14,229,183 common shares were awarded to Mr. Cunjun Ma directly through an entity wholly owned by Mr. Cunjun Ma with no consideration on June 30, 2019. The fair value of the shares awarded was RMB 4.20 per share, and a total of RMB 59,778 thousand share based compensation expense was recognized on June 30, 2019.

Operating Revenue

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer

17. Operating revenue


	Year Ended December 31,
	2017		2018		2019
	RMB’000		RMB’000		RMB’000		USD$
Brokerage income
-Life and Health insurance business		132,816		371,011		902,596		129,650
-Property and Casualty insurance business		118,740		132,536		79,528		11,423

Brokerage income subtotal		251,556		503,547		982,124		141,073

Other income		11,776		5,281		11,195		1,608

Total operating revenue		263,332		508,828		993,319		142,681

Selling Expense

12 Months Ended

Dec. 31, 2019

Selling Expense [Abstract]

Selling Expense Disclosure

18. Selling expense


	For the Year Ended December 31,
	2017		2018		2019
	RMB		RMB		RMB
Salaries and employment benefits		53,577		61,843		97,000
Advertising and marketing expenses (1)		36,215		21,606		47,927
Share-based compensation expenses		196		110		6,514
Rental and utilities expenses		9,404		5,263		5,323
Office expenses		2,704		2,132		3,658
Travelling expenses		1,474		1,655		1,927
Business development		247		466		471
Depreciation and amortizations		405		383		289
Others		758		1,155		1,556

Total		104,980		94,613		164,665

(1)	The cost of loyalty program for the year ended December 31, 2017, 2018 and 2019 are RMB 11,423 thousand, RMB 2,434 thousand and RMB 573 thousand respectively.

General and Administrative Expenses

12 Months Ended

Dec. 31, 2019

General and Administrative Expense [Abstract]

General And Administrative Expenses [Text Block]

19. General and administrative expenses


	For the Year Ended December 31,
	2017		2018		2019
	RMB		RMB		RMB
Share-based compensation expenses		386		726		87,980
Salaries and employment benefits		26,202		28,963		35,547
Professional service expenses		1,969		3,910		13,343
Bank charges		3,284		3,374		7,380
VAT Surcharge		1,046		2,136		3,423
Office expenses		2,489		1,554		3,058
Travelling expenses		919		719		2,682
Depreciation and amortizations		1,746		1,201		1,538
Rental and utilities expenses		1,526		1,158		1,468
Bad debt expense		801		376		626
Other		1,509		2,060		4,771

Total		41,877		46,177		161,816

Interest Income/(Expenses)

12 Months Ended

Dec. 31, 2019

Banking and Thrift, Interest [Abstract]

Interest Income/(Expenses)

20. Interest income/(expenses)


	For the Year Ended December 31,
	2017		2018			2019
	RMB		RMB			RMB
Interest on convertible bond		—		(26,249	)		—
Interest income/(expenses)		655		(862	)		(190	)

Total		655		(27,111	)		(190	)

Net Loss Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

21. Net Loss per share

Basic net loss per share and diluted net loss per share have been calculated in accordance with ASC 260 on computation of earnings per share for the years ended December 31, 2017, 2018 and 2019 as follows:


	Year Ended December 31,
	2017			2018			2019
	RMB			RMB			RMB
Numerator:
Net ( loss ) /profit		(97,045	)		2,928			14,968
Less: Net profit/(loss) attributable to non-controlling interests		128			(224	)		66

Net (loss)/profit attributable to common shareholders of common shares and redeemable preferred shares		(97,173	)		3,152			14,902
Redeemable Preferred Shares redemption value accretion		(26,474	)		(29,118	)		(32,854	)
Allocation to redeemable preferred shareholders		47,934			(1,558	)		(7,431	)
Net loss attributable to common shareholders-Basic and diluted		(75,713	)		(27,524	)		(25,383	)

Denominator:
Denominator for basic and diluted loss per share weighted-average common shares outstanding		445,272,000			445,272,000			452,445,068
Basic and diluted loss per share		(0.17	)		(0.06	)		(0.06	)

The potentially dilutive securities that were not included in the calculation of above dilutive net loss per share

the

years

presented

where their inclusion would be anti-diluted include convertible bond of 15,589,399 for the year ended December 31, 2018

, and restricted shares of

3,220,130

for the year ended

September

, 2019 on a weighted average basis.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure

22. Commitments and contingencies

(a)	Operating lease

The Company and its subsidiaries have entered into

non-cancellable

operating leases covering various facilities. Future minimum lease payments under these

non-cancellable

leases were as follows:


		Year Ended December 31, 2019
		RMB
Within 1 year (including 1 year)		4,777
1-2 years (including 2 year)		1,027

Total		5,804

The Group recorded rental expense of RMB 12,050 thousand, RMB 7,176 thousand and RMB 6,941 thousand in the consolidated statements of comprehensive (loss)/ income during the years ended December 31, 2017, 2018 and 2019, respectively.

(b)	Capital and other commitments

The Group had the capital commitment relating to long-term investments of RMB 500 thousand as of December 31, 2019.

The Group did not have other significant commitments, long-term obligations, or guarantees as of December 31, 2018 and 2019 other than disclosed in these consolidated financial statements.

Parent Company Only Condensed Financial Information

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

23. Parent company only condensed financial information

The condensed financial information of the Company has been prepared in accordance with SEC Regulation

S-X

Rule

5-04

and Rule

12-04,

using the same accounting policies as set out in the Group’s consolidated financial statements, except that the Company uses the equity method to account for investments in its subsidiaries and VIE.

The subsidiaries did not pay any dividend to the Company for the years presented. Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements are not the general- purpose financial statements of the reporting entity and should be read in conjunction with the notes to the consolidated financial statements of the Company.

The Company did not have significant capital and other commitments or guarantees as of December 31, 2019. The subsidiaries did not pay any dividend to the Company for the years presented.

Balance sheet


	As of December 31,
	2018			2019
	RMB			RMB			USD$ Note 2(f)
Assets
Cash and cash equivalent		—			62			9
Prepaid expense and other receivables		8,480			8,480			1,218
Long-term investments		42,345			152,845			21,955
Other assets		—			763			110
Total assets		50,825			162,150			23,292
Liabilities and Shareholders’ Deficit
Other payables and accrued expenses		14,832			16,176			2,324
Total liabilities		14,832			16,176			2,324
Mezzanine equity
Series A redeemable preferred shares (US$0.00001 par value per share; 204,022,000 shares and 204,022,000 shares authorized, issued and outstanding as of December 31, 2018 and 2019)		78,390			84,072			12,076
Series B redeemable preferred shares (US$0.00001 par value per share; 185,512,580 shares and 185,512,580 shares authorized, issued and outstanding as of December 31, 2018 and 2019)		241,918			261,272			37,529
Series B+ redeemable preferred shares (US$ 0.00001 par value per share; 43,937,180 shares and 43,937,180 shares authorized, issued and outstanding as of December 31, 2018 and 2019)		75,606			81,654			11,729
Series B++ redeemable preferred shares (US$0.00001 par value per share ; 16,574,460 shares and 16,574,460 shares authorized, issued and outstanding as of December 31, 2018 and 2019)		25,859			27,629			3,969
Total mezzanine equity		421,773			454,627			65,303
Shareholders’ deficit
Common shares (US$0.00001 par value; 445,272,000 shares and 483,310,373 shares issued and outstanding as of December 31, 2018 and 2019)		31			33			5
Additional paid-in capital		2,778			64,882			9,320
Accumulated other comprehensive income		295			414			59
Accumulated deficit		(388,884	)		(373,982	)		(53,719	)
Total shareholders’ deficit		(385,780	)		(308,653	)		(44,335	)
Total liabilities and shareholders’ deficit		50,825			162,150			23,292

Statement of Comprehensive (Loss)/Income


	Year Ended December 31,
	2018			2019
	RMB			RMB			USD$ Note 2(f)
General and administrative expenses		(50	)		(521	)		(75	)
Operating loss		(50	)		(521	)		(75	)

Other expense
Interest expense		(26,249	)		—			—
Unrealized exchange loss		(325	)		(97	)		(14	)

Loss before income tax, and share of loss of subsidiaries and VIEs		(26,624	)		(618	)		(89	)

Share of (loss)/earnings of subsidiaries and VIEs		29,776			15,520			2,229

Net (loss)/profit		3,152			14,902			2,140

Redeemable preferred shares redemption value accretion		(29,118	)		(32,854	)		(4,719	)
Allocation to redeemable preferred shares		(1,558	)		(7,431	)		(1,067	)

Net loss attributable to common shareholders		(27,524	)		(25,383	)		(3,646	)

Net (loss)/profit		3,152			14,902			2,140
Foreign currency translation adjustment, net of tax		295			119			17

Total comprehensive (loss)/income		3,447			15,021			2,157

Statement of cash flows


	Year Ended December 31,
	2017			2018			2019
	RMB			RMB			RMB			USD$
Cash flows from operating activities:
Net (loss)/profit		(97,173	)		3,152			14,902			2,140
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Unrealized exchange loss		—			325			97			14
Share of loss/(earnings) of subsidiaries and VIEs		97,173			(29,776	)		(15,520	)		(2,229	)
Interest on convertible bond		—			26,249			—			—
		—			(50	)		(521	)		(75	)
Changes in operating assets and liabilities:
Increase in other payables and accrued expenses		—			8,793			1,343			193
Increase in prepaid expense and other receivables					(8,743	)		(59	)		(8	)
Increase in other assets								(763	)		(110	)
Net cash (used in)/provided by operating activities		—			—			—			—
Cash flows from financing activities:
Proceeds from issuance of common shares and redeemable preferred shares		—			—			62			9
Net cash provided by financing activities		—			—			62			9
Effect of exchange rate changes on cash and cash equivalents		—			—			—			—
Net increase in cash and cash equivalents and restricted cash		—			—			62			9
Total cash and cash equivalents and restricted cash at beginning of year		—			—			—			—
Total cash and cash equivalents and restricted cash at end of year		—			—			62			9

Restricted Net Asset

12 Months Ended

Dec. 31, 2019

Restricted Assets Net [Abstract]

Restricted Net Asset

24. Restricted net asset

Relevant PRC laws and regulations permit payments of dividends by the Group’s entities incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. In addition, the Company’s entities in the PRC are required to annually appropriate 10% of their net

after-tax

income to the statutory general reserve fund prior to payment of any dividends, unless such reserve funds have reached 50% of their respective registered capital. As a result of these and other restrictions under PRC laws and regulations, the Company’s entities incorporated in the PRC are restricted in their ability to transfer a portion of their net assets to the Company either in the form of dividends, loans or advances, which restricted portion as calculated under U.S. GAAP amounted to RMB nil

both

as of December 31, 2018 and 2019 as the Company is in accumulative loss situation. There are no differences between U.S. GAAP and PRC accounting standards in connection with the reported net assets of the legally owned subsidiaries in the PRC and the VIE. Even though the Company currently does not require any such dividends, loans or advances from the PRC entities for working capital and other funding purposes, the Company may in the future require additional cash resources from them due to changes in business conditions, to fund future acquisitions and development, or merely to declare and pay dividends or distributions to its shareholders. In addition, restricted cash and insurance premium receivables of the VIE and its subsidiaries can only be used to settle relevant obligations of the VIE and its subsidiaries. Except for the above, there is no other restriction on use of proceeds generated by the Group’s subsidiaries and VIE to satisfy any obligations of the Company.

For the year ended December 31, 2019, the Company performed a test on the restricted net assets of subsidiaries and VIE in accordance with Securities and Exchange Commission Regulation

S-X

Rule

4-08

(e) (3), “General Notes to Financial Statements” and concluded that the restricted net assets do not exceed 25% of the consolidated net assets of the Company as of December 31, 2019 and the condensed financial information of the Company are not required to be presented.

Subsequent Events

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

25. Subsequent events

The Company evaluated its subsequent events through April

, 2020, the date on which these financial statements were

issu

Since the outbreak of Coronavirus Disease 2019 (“COVID-19”) in January 2020, COVID-19 has spread rapidly to many parts of China and other parts of the world. This pandemic has resulted in quarantines, travel restrictions, and temporary closure of stores and facilities in China and elsewhere. Substantially all the Group’s revenue and workforce are concentrated in China. Consequently, the COVID-19 outbreak may adversely affect our business operations, financial conditions and operating results for 2020, including but not limited to causing negative impacts to the Group’s total revenues, slower collection of accounts receivables and additional allowance for doubtful accounts. The extent to which this outbreak may impact our results will depend on future developments, which are uncertain and cannot be estimated at this time.

On April 15, 2020, The Company’s board of directors authorized a share repurchase program under which the Company may repurchase up to US$10 million of our outstanding American depositary shares over the next 12 months, subject to relevant rules under the Securities Exchange Act of 1934, as amended, and the Company’s insider trading policy.

Unaudited Pro Forma Information

12 Months Ended

Dec. 31, 2019

Earnings Per Share, Pro Forma [Abstract]

Unaudited Pro Forma Information

26. Unaudited pro forma information

Pursuant to the Company’s memorandum and articles of association, the Company’s redeemable preferred shares will be automatically converted into common shares upon a qualified initial public offering.

The unaudited pro forma balance sheet as of December 31, 2019 reflects the effect of the conversion of redeemable preferred shares as if the conversion occurred on December 31, 2019.

The unaudited pro forma basic and diluted net profit per common share reflects the effect of the conversion of redeemable preferred shares, as if the conversion occurred as of the beginning of the period or the original date of issuance, if later.


	Year Ended December 31, 2019 (RMB in thousands, except share and per share data)
	RMB
Numerator:
Net (loss)/profit attributable to common shareholders		(25,383	)
Redeemable preferred shares redemption value accretion reversed		32,854
Income allocation to participating redeemable common shares holders		7,431

Numerator for pro forma basic and diluted net profit per share		14,902

Denominator:
Weighted average number of common shares used in calculating pro forma basic and diluted net profit per share		902,491,288
Dilutive effect of restricted shares		3,220,130
Weighted average number of common shares used in calculating pro forma net income per share—diluted		905,711,418

Pro forma basic and diluted net (loss)/profit per share		0.017

Pro forma diluted net (loss)/profit per share		0.017

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Basis of presentation

(a)	Basis of presentation

As an emerging growth company, the Company elects to use the extended transition period for complying with new or revised financial accounting standards.

Basis of consolidation

(b)	Basis of consolidation

All transactions and balances among the Company, its subsidiaries, the VIE and the VIE’s subsidiaries have been eliminated upon consolidation.

Exclusive Business Cooperation Agreement

Exclusive Option Agreement

Share Pledge Agreements

Power of Attorney

Pursuant to each power of attorney, each shareholder of Huiye Tianze has irrevocably appointed Zhixuan to act as such shareholder’s exclusive

attorney-in-fact


	As of
		December 31, 2018		December 31, 2019
		RMB		RMB
Current assets			307,164		478,453
Non-current assets			32,936		46,267

Total assets			340,100		524,720

Current liabilities			304,358		368,617
Non-current liabilities			16,378		1,054

Total liabilities			320,736		369,671


	Year Ended December 31, 2017			Year Ended December 31, 2018			Year Ended December 31, 2019
	RMB			RMB
Total operating revenue		246,968			498,228			984,910
Net (loss)/profit		(95,746	)		29,973			22,806

Net cash (used in)/provided by operating activities		(83,524	)		67,049			104,565
Net cash provided by/(used) in investing activities		57,760			(3,541	)		(6,927	)
Net cash provided by/(used) in financing activitie s		22,973			48,720			823

Net (decrease)/increase in cash and cash equivalents		(2,791	)		112,228			98,461
Cash and cash equivalents at beginning of yea r		40,471			37,680			149,908

Cash and cash equivalents at end of year		37,680			149,908			248,369

The

significant portion of the total assets and total liabilities of Huiye Tianze and its subsidiaries approximate the amounts in the Group’s consolidated financial statements.

•

revoke the Group’s business and operating licenses;

•

require the Group to discontinue or restrict its operations;

•

restrict the Group’s right to collect revenues;

•

block the Group’s websites;

•

require the Group to restructure its operations,

re-apply

for the necessary licenses or relocate the Group’s businesses, staff and assets;

•

impose additional conditions or requirements with which the Group may not be able to comply; or

•

take other regulatory or enforcement actions against the Group that could be harmful to the Group’s business.

Non-controlling interests

(c)	Non-controlling interests

When there is a change in ownership interests that result in a loss of control of a subsidiary, the Company deconsolidates the subsidiary from the date control is lost. Any retained

non-controlling

investment in the former subsidiary is measured at fair value and is included in the calculation of the gain or loss upon deconsolidation of the subsidiary.

For the Company’s majority-owned subsidiaries and VIE, a

non-controlling

interests, and common shareholders and redeemable preferred shareholders where applicable. The cumulative results of operations attributable to

non-controlling

interests are recorded as

non-controlling

interests in the Company’s consolidated balance sheets. Cash flows related to transactions with

non-controlling

interests are presented under financing activities in the consolidated statements of cash flows.

Use of estimates

(d)	Use of estimates

Comprehensive Income and Foreign Currency Translation

(e)	Comprehensive Income and Foreign Currency Translation

period-end

Convenience translation

(f)	Convenience translation

Cash and cash equivalents

(g)	Cash and cash equivalents

Restricted cash

(h)	Restricted cash

2018 and 2019)

Short Term Investments

(i)	Short Term Investments

Accounts Receivable

(j)	Accounts Receivable

Insurance Premium Receivables

(k)	Insurance Premium Receivables

Fair value measurement

(l)	Fair value measurement

The three levels of inputs that may be used to measure fair value include:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Observable, market-based inputs, other than quoted prices, in active markets for identical assets or liabilities.

Level 3: Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Recurring

The Group’s financial instruments are not measured at fair value in the Consolidated Balance Sheets, but for which the fair value is estimated for disclosure purpose.

net

carrying values reported in the consolidated balance sheets due to the short term maturities of these instruments.

Non-recurring

The Group measures certain financial assets, including the investments under the cost method and equity method at fair value on a

non-recurring

basis only if an impairment charge were to be recognized. The Group’s

non-financial

assets such as property, equipment and software, would be measured at fair value only if they were determined to be impaired.

Property, Plant and Equipment, net

(m)	Property, Plant and Equipment, net


Category	Estimated useful life	Residual value
Office furniture and equipment	5 years	0%~5%
Computer and electronic equipment	3~5 years	0%~5%
Motor vehicles	4~5 years	5%
Leasehold improvements	shorter of remaining lease period and estimated useful life	Nil

Intangible assets, net

(n)	Intangible assets, net

Intangible assets represent domain name and purchased computer software. These intangible assets are amortized on a straight line basis over their estimated useful lives of the respective assets.

The table below sets forth the estimated useful life and residual value:

Category	Estimated useful life	Residual value
Domain name	10 years	0%
Purchased computer software	5~10 years	0%

Impairment of long-lived assets and intangible assets

(o)	Impairment of long-lived assets and intangible assets

Long-term investments

(p)	Long-term investments

Short-term and Long-term borrowings

(q)	Short-term and Long-term borrowings

Insurance Premium Payables

(r)	Insurance Premium Payables

Share-based Compensation

(s)	Share-based Compensation

Employee share-based compensation

re-measured

pro-rated

Fair Value of Redeemable Preferred Shares and Common Shares

(t)	Fair Value of Redeemable Preferred Shares and Common Shares

Redeemable Preferred Shares and Convertible Bond

(u)	Redeemable Preferred Shares and Convertible Bond

Accounting of Redeemable Preferred Shares

Subsequently, the carrying amount is increased by periodic accretion, using the interest method, so that the carrying amount will equal to mandatory redemption amount the redemption date.

Accounting of convertible bond

The Company determined convertible bond, which were classified as liabilities, was initially measured at par under ASC 470 and subsequently stated at amortized cost plus accrued unpaid interest.

Employee Benefit Plans

(v)	Employee Benefit Plans

Revenue recognition

(w)	Revenue recognition

The Group has early adopted ASU

2014-09,

Revenue from Contracts with Customers (Topic 606) and all subsequent ASUs that modified ASC 606 on January 1, 2017.

•

Step 1: Identify the contract (s) with a customer

•

Step 2: Identify the performance obligations in the contract

•

Step 3: Determine the transaction price

•

Step 4: Allocate the transaction price to the performance obligations in the contract

•

Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation

Insurance brokerage services

Consulting service

Value added tax

The Group is subject to

value-added-tax

Cost of revenue

(x)	Cost of revenue

Selling expenses

(y)	Selling expenses

The Group records its marketing campaign expenses and loyalty points as selling expenses.

General and Administrative Expenses

(z)	General and Administrative Expenses

General and administrative expenses also includes surcharges on VAT payments according to PRC tax.

Others, net

(aa)	Others, net

Others, net, mainly consist of

non-operating

income and expenses, such as government subsidies.

Taxation

(bb)

Taxation

more-likely-than-not

Net profit/(loss) per share

(cc)	Net profit/(loss) per share

Basic profit/(loss) per share is computed by dividing net profit/(loss) attributable to common shareholders by the weighted average number of common shares outstanding during the period using the

two-class

method. Under the

two-class

if-converted

Segment reporting

(dd)	Segment reporting

Significant Risk and Uncertainties

(ee)	Significant Risk and Uncertainties

Currency risk

Concentration of Credit Risk

Details of the customers accounting for 10% or more of total operating revenue are as follows:


	Year ended December 31
	2017		%			2018		%			2019		%
	RMB					RMB					RMB
Customer B		—		—			99,425		20	%		184,035		19	%
Customer C		—		—			44,296		9	%		142,443		14	%
Customer H		—		—			—		—			124,946		13	%
Customer A		18,820		7	%		100,123		20	%		94,182		9	%

		18,820		7	%		243,844		49	%		545,606		55	%

Details of the customers which accounted for 10% or more of accounts receivable are as follows:


	At December 31
	2018		%			2019		%
	RMB					RMB
Customer I		—		—			42,444		24	%
Customer A		9,300		9	%		35,128		19	%
Customer J		612		1	%		33,380		19	%
Customer B		11,970		11	%		16,945		9	%
Customer C		33,146		30	%		8,419		5	%

		55,028		51	%		136,316		76	%

The Group performs ongoing credit evaluations of its customers and generally does not require collateral on accounts receivable.

The Group places its cash and cash equivalents with financial institutions with high-credit ratings and quality.

Interest rate risk

Recent Accounting Pronouncements

(ff)	Recent Accounting Pronouncements

In May 2014, the FASB issued ASU

2014-09,

“Revenue from Contracts with Clients (Topic 606) (“ASU

2014-09”)

and subsequently, the FASB issued several amendments which amend certain aspects of the guidance in ASC

2014-09

(ASU

No. 2014-09

In February 2016, the FASB issued ASU

No. 2016-02,

Leases (Topic 842), which requires lessees to recognize most leases on the balance sheet. This ASU requires lessees to recognize a

right-of-use

, using modified retrospective approach.

Upon transition, the

Group plans

to apply the package of practical expedients permitted under Topic 842 transition guidance to the entire lease portfolio at 1 January, 2020. As a result, the

Group

non-lease

components. As a result of adoption of ASC 842, The Group estimates approximately RMB 5,504 thousand would be recognized as total

right-of

use assets and total lease liabilities, respectively in the consolidated balance sheets as of January 1, 2020.

In June 2016, the FASB issued ASU

2016-13,

available-for-sale

In November 2016, the FASB issued ASU

2016-18,

Statement of Cash Flows (Topic 230) (“ASU

2016-18”).

This ASU affects all entities that have restricted cash or restricted cash equivalents and are required to present a statement of cash flows under Topic 230. ASU

2016-18

In May 2017, the FASB issued ASU

2017-09,

2017-09

did not have a material impact on the Group’s consolidated financial statements.

In August 2018, the FASB issued ASU

2018-13,

In December 2019, the FASB issued ASU

2019-12,

‘‘Income Taxes (Topic 740)’’. This standards simplifies the Accounting for Income Taxes, removes certain exceptions for recognizing deferred taxes for investments, performing

intra period

2019-12

is effective for annual periods beginning on January 1, 2021, with earlier adoption permitted. The Group intends to adopt the ASU on the effective date of January 1, 2021 and

is currently

assessing

the

impact

of adopting this standard on its consolidated financial statements.

In January 2020, the FASB issued

ASU

consolidated financial statements.

Principal Activities and Reorganization (Tables)

12 Months Ended

Dec. 31, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Principal Subsidaries, Consolidated VIE and Subsidiaries of VIE

As of December 31, 2019, the Company’s principal subsidiaries, consolidated VIE and subsidiaries of VIE are as follows:


Principal Subsidiaries	Date of Incorporation/ Establishment	Place of Incorporation/ Establishment	Percentage Of Direct or Indirect Economic Interest	Principal Activities
Smart Choice Ventures Limited (“Smart Choice”)	January 14, 2015	British Virgin Islands	100%	Investment holding

Hong Kong Smart Choice Ventures Limited (“HK Smart Choice”)	February 18, 2015	Hong Kong	100%	Investment holding

Zhixuan International Management Consulting (Shenzhen) Co., Ltd. (“Shenzhen Zhixuan”)	June 9, 2015	PRC	100%	Management consulting and marketing consulting

Zhixuan Management Consulting (Tianjin) Co. Ltd	April 4, 2019	PRC	100%	Management consulting and marketing consulting

VIE

Shenzhen Huiye Tianze Investment Holding Co., Ltd (“Huiye Tianze”)	October 30, 2014	PRC	100%	Investment, investment consulting service

VIE’s Principal Subsidiaries

Huize Insurance Brokerage Co., Ltd. (“Huize Insurance Brokerage”) (former Shenzhen Huize Insurance Brokerage Co., Ltd.)	October 14, 2011	PRC	100%	Insurance brokerage service

Shenzhen Huize Shidai Co., Ltd. (“Huize Technology”)	April 28, 2012	PRC	100%	Technology development and Internet information consulting service

Hefei Huize Internet Technology Co., Ltd. (“Hefei Huize”)	August 5, 2015	PRC	100%	Technology development and Internet information consulting service

Shenzhen Zhixuan Wealth Investment Management Co., Ltd. (“Zhixuan Investment”)	April 20, 2016	PRC	100%	Management consulting, Investment consulting and financial consulting

Huize (Chengdu) Internet Technology Co., Ltd. (“Chengdu Huize”)	May 11, 2018	PRC	100%	Technology development consulting service

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Summarized of Financial Information Group's Consolidated Financial Statements


	As of
		December 31, 2018		December 31, 2019
		RMB		RMB
Current assets			307,164		478,453
Non-current assets			32,936		46,267

Total assets			340,100		524,720

Current liabilities			304,358		368,617
Non-current liabilities			16,378		1,054

Total liabilities			320,736		369,671


	Year Ended December 31, 2017			Year Ended December 31, 2018			Year Ended December 31, 2019
	RMB			RMB
Total operating revenue		246,968			498,228			984,910
Net (loss)/profit		(95,746	)		29,973			22,806

Net cash (used in)/provided by operating activities		(83,524	)		67,049			104,565
Net cash provided by/(used) in investing activities		57,760			(3,541	)		(6,927	)
Net cash provided by/(used) in financing activitie s		22,973			48,720			823

Net (decrease)/increase in cash and cash equivalents		(2,791	)		112,228			98,461
Cash and cash equivalents at beginning of yea r		40,471			37,680			149,908

Cash and cash equivalents at end of year		37,680			149,908			248,369

Summary of Estimated Useful Life and Residual Value of Property Plant and Equipment


Category	Estimated useful life	Residual value
Office furniture and equipment	5 years	0%~5%
Computer and electronic equipment	3~5 years	0%~5%
Motor vehicles	4~5 years	5%
Leasehold improvements	shorter of remaining lease period and estimated useful life	Nil

Summary of Estimated Useful Life and Residual Value of Intangible Assets

Intangible assets represent domain name and purchased computer software. These intangible assets are amortized on a straight line basis over their estimated useful lives of the respective assets.

The table below sets forth the estimated useful life and residual value:

Category	Estimated useful life	Residual value
Domain name	10 years	0%
Purchased computer software	5~10 years	0%

Summary of Customer Concentration Risk

Details of the customers accounting for 10% or more of total operating revenue are as follows:


	Year ended December 31
	2017		%			2018		%			2019		%
	RMB					RMB					RMB
Customer B		—		—			99,425		20	%		184,035		19	%
Customer C		—		—			44,296		9	%		142,443		14	%
Customer H		—		—			—		—			124,946		13	%
Customer A		18,820		7	%		100,123		20	%		94,182		9	%

		18,820		7	%		243,844		49	%		545,606		55	%

Details of the customers which accounted for 10% or more of accounts receivable are as follows:


	At December 31
	2018		%			2019		%
	RMB					RMB
Customer I		—		—			42,444		24	%
Customer A		9,300		9	%		35,128		19	%
Customer J		612		1	%		33,380		19	%
Customer B		11,970		11	%		16,945		9	%
Customer C		33,146		30	%		8,419		5	%

		55,028		51	%		136,316		76	%

Accounts Receivable, Net of Allowance for Doubtful Accounts (Tables)

12 Months Ended

Dec. 31, 2019

Receivables [Abstract]

Summary of Account Receivables, Net of Allowance for Doubtful Accounts

Account receivables, net of allowance for doubtful accounts by the Group consist of the following:


	As of
	December 31, 2018			December 31, 2019
	RMB			RMB
Accounts receivable		109,008			181,520
Less: allowance for doubtful accounts		(574	)		(1,127	)

Accounts receivable, net		108,434			180,393

Summary of Movement of Allowance for Doubtful Accounts

The following table summarizes the movement of the Group’s allowance for doubtful accounts:


	As of
	December 31, 2018			December 31, 2019
	RMB			RMB
Balance at the beginning of the year		312			574
Provision for doubtful accounts		376			626
Write-offs		(114	)		(73	)

Balance at the end of the year		574			1,127

Related Party Balances and Transactions (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Related Party Transactions

The table below sets major related parties of the Group and their relationships with the Group:


Entity or individual name		Relationship with the Group
Cunjun Ma		Chief Executive Officer and Director of the Group
Individual Director or Officer		Directors or Officers of the Group
Shareholders and minority shareholders		Shareholders and minority shareholders

	As of
	December 31, 2018			December 31, 2019
		RMB		RMB
Amounts due from related parties
Cunjun Ma(a)			1,850		—
Shareholders			8,696		280

			10,546		280


	As of
	December 31, 2018		December 31, 2019
	RMB		RMB
Amounts due to related parties
Cunjun Ma(b)		—		465

		—		465

(a)

The remaining amount represents the advance miscellaneous fees for shareholders.

(b)	The amount due to Mr. Cunjun Ma represents the general expenses paid by Mr. Cunjun Ma in advance. The amount has been repaid by the Company in full in April 2020.

Prepaid Expenses and Other Receivables (Tables)

12 Months Ended

Dec. 31, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Summary of Prepaid Expenses and Receivables

Prepaid expenses and other receivables consist of the following:


	As of
	December 31, 2018		December 31, 2019
	RMB		RMB
Current portion:
Advances to suppliers		4,881		7,341
Prepaid input value-added tax		2,598		6,000
Directors and Officers Liability Insurance premium		—		5,181
Rental and other deposits		2,644		4,697
Interest receivables (a)		1,489		2,372
Claim advance on behalf of insurer		6,555		1,671
Government subsidy		1,378		1,378
Advances to staff (b)		937		402
Others		114		154

		20,596		29,196

Non-Current portion:
Capitalized IPO expenses		3,831		13,746
Others		—		417
		3,831		14,163

(a)	This represented accrued interest income on bank deposits.

(b)	This represented advances to staff of the Group for daily business operations which are unsecured, interest-free and repayable on demand.

Property, Plant and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Summary of Property, Plant and Equipment, Net

Property, plant and equipment, net, consist of the following:


	As of
	December 31, 2018			December 31, 2019
	RMB			RMB
Computer and electronic equipment		8,974			12,478
Leasehold improvements		4,123			4,873
Office furniture and equipment		2,848			2,774
Motor vehicles		987			987

Total		16,932			21,112
Less: Accumulated depreciation (1)		(10,578	)		(13,106	)

Property, equipment and equipment, net		6,354			8,006

(1)	Depreciation expenses for the years ended December 31, 2017, 2018 and 2019 were RMB 3,377 thousand, RMB 2,790 thousand and RMB 3,441 thousand, respectively.

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The intangible assets, net consisted of the following:


	As of
	December 31, 2018			December 31, 2019
	RMB
Software and system		1,347			2,141
Domain name		580			580

Total		1,927			2,721
Less: Accumulated amortization (1)		(730	)		(1,069	)

Intangible assets, net		1,197			1,652

(1)	Amortization expenses for the years ended December 31, 2017, 2018 and 2019 was RMB 185 thousand, RMB 292 thousand and RMB 338 thousand, respectively.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The amortization of the coming 5 years is:


	As of
	December 31, 2019
	RMB
2020		358
2021		352
2022		306
2023		194
2024		151

Long-term Investments (Tables)

12 Months Ended

Dec. 31, 2019

Investment Company [Abstract]

Summary of Long Term Investments


	Equity securities without readily determinable fair value		Equity Method			Total
	RMB		RMB			RMB
Balances at January 1, 2017		10,000		—			10,000
Additions		—		6,776			6,776
Share of earnings of an equity investee		—		989			989

Balances at December 31, 2017		10,000		7,765			17,765

Additions		2,500		—			2,500
Share of earnings of an equity investee		—		1,310			1,310

Balances at December 31, 2018		12,500		9,075			21,575

Additions		2,000					2,000
Share of earnings/(loss) of an equity investee		—		(180	)		(180	)

Balances at December 31, 2019		14,500		8,895			23,395

Short-term Borrowing (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Summary of Short-term Borrowing


	As of
	December 31, 2018		December 31, 2019
	RMB		RMB
Bank borrowings (1)		13,000		30,000
Current portion of long-term borrowings (note 13)		11,267		6,880

		24,267		36,880

(1)	The Group obtained short-term borrowings to support its operation. The borrowings bear interest ranging from 5.87% to 8.00% as of both December 31, 2018 and 2019.

Other Payables and Accrued Expenses and Other Non-Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

Components of other payables and accrued expenses are as follows:


	As of
	December 31, 2018		December 31, 2019
	RMB		RMB
Current portion:
Professional fees		5,999		9,807
Other tax payables		5,287		7,469
Other payable to suppliers		478		5,992
Advances from insured		2,835		3,593
Government h ousing Benefit		660		840
Rental expense payable		9,082		637
Accrued marketing expense -loyalty points		2,074		595
Deposits		414		269
Interest payable		493		53
Payable to convertible bond holders (1)		8,794		—
Others		792		956

		36,908		30,211

Non-Current portion:
Payables for long-term assets		—		518

Other non-current liabilities total		—		518

(1)	It is the balance of convertible bond for which conversion option was not exercised and was subsequently repaid in March 2019.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Summary of Composition of Income Tax Expense

The current and deferred portions of income tax expense included in the consolidated statements of comprehensive (loss)/income during the year ended December 31, 2017, 2018 and 2019 are as follows:


	For the Year Ended December 31, 2017		For the Year Ended December 31, 2018		For the Year Ended December 31, 2019
	RMB		RMB
Current income tax expense		167		88		37
Deferred income tax expense		239		190		20

Income tax expense		406		278		57

Summary of Reconciliation of Income Tax Expense

Reconciliation between the income tax expense computed by applying the EIT tax rate to income before income taxes and actual provision were as follows:


	For the Year Ended December 31, 2017			For the Year Ended December 31, 2018			For the Year Ended December 31, 2019
	RMB			RMB			RMB
(Loss)/profit before income tax		(96,639	)		3,206			15,025
Tax (benefit)/expense at EIT tax rate of 25%		(24,159	)		802			3,756
Effect of different tax rates applicable to different subsidiaries of the Group		6,628			6,381			(3,394	)
Changes in valuation allowance		20,211			(9,343	)		(24,412	)
Investment income not subject to tax		(93	)		(17	)		(171	)
Expenses not deductible for tax purposes		2,448			2,679			29,067
Research and development tax credit		(4,629	)		(3,261	)		(4,789	)
Effect on deferred tax assets due to change in tax rates		—			3,037			—

Income tax expense		406			278			57

Significant Components of Deferred Tax Assets and Deferred Tax Liabilities

The following tables sets forth the significant components of the deferred tax assets and deferred tax liabilities:


	December 31, 2018			December 31, 2019
	RMB			RMB
Deferred tax assets
Net accumulated losses-carry forward		55,346			30,177
Depreciation and amortization		76			118
Allowance for doubtful accounts		93			251
Accrued expenses		2,245			2,729
Less: valuation allowance		(57,623	)		(33,211	)
Net deferred tax assets		137			64
Deferred tax liabilities
Gain on equity method investee		575			530
Net deferred tax liabilities		575			530

Summary of Movement of Valuation Allowance

Movement of valuation allowance


	December 31, 2017		December 31, 2018			December 31, 2019
	RMB		RMB			RMB
Balance at the beginning of the year		46,755		66,966			57,623
Additions		20,211		7,182			2,173
Reversals		—		(16,525	)		(26,585	)

Balance at end of the year		66,966		57,623			33,211

Long-term Borrowing (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Summary of the Group's long-term borrowings

The following table summarizes the details of the Group’s long-term borrowings:


	Maturity Date		Principal Amount		Interest Rate			As of
Type	Maturity Date		Principal Amount		Per Annum			December 31, 2018			December 31, 2019
								RMB
Bank loan		January 10, 2020		25,000		7.00	%		11,267			62
Bank loan		September 30, 2020		15,000		7.00	%		15,804			6,818
Total									27,071			6,880

Less: Current portion of long-term borrowings									(11,267	)		(6,880	)

									15,804			—

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Redeemable Preferred Shares and Convertible Bond (Tables)

12 Months Ended

Dec. 31, 2019

Temporary Equity Disclosure [Abstract]

Summary Of Group's Redeemable Preferred Shares Activities

The Group’s redeemable preferred shares activities for the year ended December 31, 2017, 2018 and 2019 are summarized below:


	Series A Shares				Series B Shares				Series B+ Shares				Series B++ Shares
	Number of Shares		Amount (RMB)		Number of Shares		Amount (RMB)		Number of Shares		Amount (RMB)		Number of Shares		Amount (RMB)
Balances as of January 1, 2017		204,022,000		68,528		185,512,580		207,406		43,937,180		64,820		—		—
Redeemable Preferred Shares redemption value accretion		—		4,697		—		16,592		—		5,185		—		—

Balances as of December 31, 2017		204,022,000		73,225		185,512,580		223,998		43,937,180		70,005		—		—

Issuance of Redeemable Preferred Shares		—		—		—		—		—		—		16,574,460		25,427

Redeemable Preferred Shares redemption value accretion		—		5,165		—		17,920		—		5,601		—		432

Balances as of December 31, 2018		204,022,000		78,390		185,512,580		241,918		43,937,180		75,606		16,574,460		25,859

Redeemable Preferred Shares redemption value accretion		—		5,682		—		19,354		—		6,048		—		1,770

Balances as of December 31, 2019		204,022,000		84,072		185,512,580		261,272		43,937,180		81,654		16,574,460		27,629

Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Expensed and Capitalized, Amount

Share-based compensation was recognized in operating expenses for the years ended December 31, 2017, 2018 and 2019 as follows:


	Year ended December 31,
	2017		2018		2019
	RMB		RMB		RMB
Cost of revenue		26		9		43
Selling expenses		196		110		6,514
General and administrative expenses		386		726		87,980
Research and development expenses		203		122		421

		811		967		94,958

Share-based Payment Arrangement, Option, Activity

The following table sets forth the activities under the Company’s share options for the periods ended December 31, 2017, 2018 and 2019:


	Number of options			Weighted Average exercise price		Aggregate intrinsic value RMB
Outstanding at January 1, 2017		9,540,000			0.40
Granted		5,900,000			0.71
Exercised		(960,000	)		0.36
Forfeited		(1,620,000	)		0.56

Outstanding at December 31, 2017		12,860,000			0.53

Granted		316,360			1.42
Exercised		—			—
Forfeited		(2,080,000	)		0.55

Outstanding at December 31, 2018		11,096,360			0.55

Granted		—			—
Exercised		(7,420,000	)		0.56
Forfeited		(3,676,360	)		0.52

Outstanding at December 31, 2019		—			—		—

Exercisable at December 31, 2019		—			—		—

Share-based Payment Arrangement, Restricted Stock Unit, Activity

The following table summarized the Company’s restricted shares activities under the Employees Restricted Shares Plan for the year ended December 31, 2019:


	Options to Employees		Weighted Average Grant-Date Fair Value
Non-vested at January 1, 2019		—		—
Granted		23,809,190		4.20
Vested		—		—
Forfeited		—		—

Non-vested at December 31, 2019		23,809,190		4.20

Operating Revenue (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue


	Year Ended December 31,
	2017		2018		2019
	RMB’000		RMB’000		RMB’000		USD$
Brokerage income
-Life and Health insurance business		132,816		371,011		902,596		129,650
-Property and Casualty insurance business		118,740		132,536		79,528		11,423

Brokerage income subtotal		251,556		503,547		982,124		141,073

Other income		11,776		5,281		11,195		1,608

Total operating revenue		263,332		508,828		993,319		142,681

Selling Expense (Tables)

12 Months Ended

Dec. 31, 2019

Selling Expense [Abstract]

Schedule of Selling Expense


	For the Year Ended December 31,
	2017		2018		2019
	RMB		RMB		RMB
Salaries and employment benefits		53,577		61,843		97,000
Advertising and marketing expenses (1)		36,215		21,606		47,927
Share-based compensation expenses		196		110		6,514
Rental and utilities expenses		9,404		5,263		5,323
Office expenses		2,704		2,132		3,658
Travelling expenses		1,474		1,655		1,927
Business development		247		466		471
Depreciation and amortizations		405		383		289
Others		758		1,155		1,556

Total		104,980		94,613		164,665

(1)	The cost of loyalty program for the year ended December 31, 2017, 2018 and 2019 are RMB 11,423 thousand, RMB 2,434 thousand and RMB 573 thousand respectively.

General and Administrative Expenses (Tables)

12 Months Ended

Dec. 31, 2019

General and Administrative Expense [Abstract]

Summary of General And Administrative Expenses


	For the Year Ended December 31,
	2017		2018		2019
	RMB		RMB		RMB
Share-based compensation expenses		386		726		87,980
Salaries and employment benefits		26,202		28,963		35,547
Professional service expenses		1,969		3,910		13,343
Bank charges		3,284		3,374		7,380
VAT Surcharge		1,046		2,136		3,423
Office expenses		2,489		1,554		3,058
Travelling expenses		919		719		2,682
Depreciation and amortizations		1,746		1,201		1,538
Rental and utilities expenses		1,526		1,158		1,468
Bad debt expense		801		376		626
Other		1,509		2,060		4,771

Total		41,877		46,177		161,816

Interest Income/(Expenses) (Tables)

12 Months Ended

Dec. 31, 2019

Banking and Thrift, Interest [Abstract]

Summary of Interest Income Expenses


	For the Year Ended December 31,
	2017		2018			2019
	RMB		RMB			RMB
Interest on convertible bond		—		(26,249	)		—
Interest income/(expenses)		655		(862	)		(190	)

Total		655		(27,111	)		(190	)

Net Loss Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Summary of Earnings Per Share Basic And Diluted


	Year Ended December 31,
	2017			2018			2019
	RMB			RMB			RMB
Numerator:
Net ( loss ) /profit		(97,045	)		2,928			14,968
Less: Net profit/(loss) attributable to non-controlling interests		128			(224	)		66

Net (loss)/profit attributable to common shareholders of common shares and redeemable preferred shares		(97,173	)		3,152			14,902
Redeemable Preferred Shares redemption value accretion		(26,474	)		(29,118	)		(32,854	)
Allocation to redeemable preferred shareholders		47,934			(1,558	)		(7,431	)
Net loss attributable to common shareholders-Basic and diluted		(75,713	)		(27,524	)		(25,383	)

Denominator:
Denominator for basic and diluted loss per share weighted-average common shares outstanding		445,272,000			445,272,000			452,445,068
Basic and diluted loss per share		(0.17	)		(0.06	)		(0.06	)

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

The Company and its subsidiaries have entered into

non-cancellable

operating leases covering various facilities. Future minimum lease payments under these

non-cancellable

leases were as follows:


		Year Ended December 31, 2019
		RMB
Within 1 year (including 1 year)		4,777
1-2 years (including 2 year)		1,027

Total		5,804

Parent Company Only Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet

Balance sheet


	As of December 31,
	2018			2019
	RMB			RMB			USD$ Note 2(f)
Assets
Cash and cash equivalent		—			62			9
Prepaid expense and other receivables		8,480			8,480			1,218
Long-term investments		42,345			152,845			21,955
Other assets		—			763			110
Total assets		50,825			162,150			23,292
Liabilities and Shareholders’ Deficit
Other payables and accrued expenses		14,832			16,176			2,324
Total liabilities		14,832			16,176			2,324
Mezzanine equity
Series A redeemable preferred shares (US$0.00001 par value per share; 204,022,000 shares and 204,022,000 shares authorized, issued and outstanding as of December 31, 2018 and 2019)		78,390			84,072			12,076
Series B redeemable preferred shares (US$0.00001 par value per share; 185,512,580 shares and 185,512,580 shares authorized, issued and outstanding as of December 31, 2018 and 2019)		241,918			261,272			37,529
Series B+ redeemable preferred shares (US$ 0.00001 par value per share; 43,937,180 shares and 43,937,180 shares authorized, issued and outstanding as of December 31, 2018 and 2019)		75,606			81,654			11,729
Series B++ redeemable preferred shares (US$0.00001 par value per share ; 16,574,460 shares and 16,574,460 shares authorized, issued and outstanding as of December 31, 2018 and 2019)		25,859			27,629			3,969
Total mezzanine equity		421,773			454,627			65,303
Shareholders’ deficit
Common shares (US$0.00001 par value; 445,272,000 shares and 483,310,373 shares issued and outstanding as of December 31, 2018 and 2019)		31			33			5
Additional paid-in capital		2,778			64,882			9,320
Accumulated other comprehensive income		295			414			59
Accumulated deficit		(388,884	)		(373,982	)		(53,719	)
Total shareholders’ deficit		(385,780	)		(308,653	)		(44,335	)
Total liabilities and shareholders’ deficit		50,825			162,150			23,292

Condensed Statement of Comprehensive Income

Statement of Comprehensive (Loss)/Income


	Year Ended December 31,
	2018			2019
	RMB			RMB			USD$ Note 2(f)
General and administrative expenses		(50	)		(521	)		(75	)
Operating loss		(50	)		(521	)		(75	)

Other expense
Interest expense		(26,249	)		—			—
Unrealized exchange loss		(325	)		(97	)		(14	)

Loss before income tax, and share of loss of subsidiaries and VIEs		(26,624	)		(618	)		(89	)

Share of (loss)/earnings of subsidiaries and VIEs		29,776			15,520			2,229

Net (loss)/profit		3,152			14,902			2,140

Redeemable preferred shares redemption value accretion		(29,118	)		(32,854	)		(4,719	)
Allocation to redeemable preferred shares		(1,558	)		(7,431	)		(1,067	)

Net loss attributable to common shareholders		(27,524	)		(25,383	)		(3,646	)

Net (loss)/profit		3,152			14,902			2,140
Foreign currency translation adjustment, net of tax		295			119			17

Total comprehensive (loss)/income		3,447			15,021			2,157

Condensed Cash Flow Statement

Statement of cash flows


	Year Ended December 31,
	2017			2018			2019
	RMB			RMB			RMB			USD$
Cash flows from operating activities:
Net (loss)/profit		(97,173	)		3,152			14,902			2,140
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Unrealized exchange loss		—			325			97			14
Share of loss/(earnings) of subsidiaries and VIEs		97,173			(29,776	)		(15,520	)		(2,229	)
Interest on convertible bond		—			26,249			—			—
		—			(50	)		(521	)		(75	)
Changes in operating assets and liabilities:
Increase in other payables and accrued expenses		—			8,793			1,343			193
Increase in prepaid expense and other receivables					(8,743	)		(59	)		(8	)
Increase in other assets								(763	)		(110	)
Net cash (used in)/provided by operating activities		—			—			—			—
Cash flows from financing activities:
Proceeds from issuance of common shares and redeemable preferred shares		—			—			62			9
Net cash provided by financing activities		—			—			62			9
Effect of exchange rate changes on cash and cash equivalents		—			—			—			—
Net increase in cash and cash equivalents and restricted cash		—			—			62			9
Total cash and cash equivalents and restricted cash at beginning of year		—			—			—			—
Total cash and cash equivalents and restricted cash at end of year		—			—			62			9

Unaudited Pro Forma Information (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share, Pro Forma [Abstract]

Schedule of Pro Forma Basic and Diluted Net Profit


	Year Ended December 31, 2019 (RMB in thousands, except share and per share data)
	RMB
Numerator:
Net (loss)/profit attributable to common shareholders		(25,383	)
Redeemable preferred shares redemption value accretion reversed		32,854
Income allocation to participating redeemable common shares holders		7,431

Numerator for pro forma basic and diluted net profit per share		14,902

Denominator:
Weighted average number of common shares used in calculating pro forma basic and diluted net profit per share		902,491,288
Dilutive effect of restricted shares		3,220,130
Weighted average number of common shares used in calculating pro forma net income per share—diluted		905,711,418

Pro forma basic and diluted net (loss)/profit per share		0.017

Pro forma diluted net (loss)/profit per share		0.017

Principal Activities and Reorganization - Additional Information (Detail) - USD ($)			1 Months Ended	12 Months Ended
	Mar. 10, 2020	Jun. 30, 2019	Feb. 29, 2020	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2019
Principal Activities and Reorganization [Line Items]
Percentage of shareholders received shares of company						78.13%
Percentage of shareholders pending registration						21.87%
Subsequent Event [Member] \| IPO [Member]
Principal Activities and Reorganization [Line Items]
Shares issued			5,250,000
American depository receipts, description			20 class A common shares
Shares issued, price per ADR			$ 10.50
Series A Preferred Stock [Member]
Principal Activities and Reorganization [Line Items]
Shares issued		105,122,000
Series B Preferred Stock [Member]
Principal Activities and Reorganization [Line Items]
Shares issued		185,512,580
Series B+ redeemable preferred shares [Member]
Principal Activities and Reorganization [Line Items]
Shares issued		43,937,180
Series B++ redeemable preferred shares [Member]
Principal Activities and Reorganization [Line Items]
Shares issued		16,574,460
Redeemable Preferred Stock [Member]
Principal Activities and Reorganization [Line Items]
Shares issued				98,900,000	98,900,000
American Depositary Shares [Member] \| Subsequent Event [Member] \| IPO [Member]
Principal Activities and Reorganization [Line Items]
Shares issued	5,322,453
Proceeds from Issuance Initial Public Offering	$ 55.9
American Depositary Shares [Member] \| Subsequent Event [Member] \| Over-Allotment Option [Member]
Principal Activities and Reorganization [Line Items]
Shares issued	72,453
Shares issued, price per ADR	$ 10.50
Common Stock [Member]
Principal Activities and Reorganization [Line Items]
Shares issued		261,072,000		184,200,000	184,200,000

Principal Activities and Reorganization - Summary of Principal Subsidaries, Consolidated VIE and Subsidiaries of VIE (Detail)	12 Months Ended
	Dec. 31, 2019
Subsidiaries [Member] \| Smart Choice Ventures Limited ("Smart Choice") [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of Incorporation/ Establishment	Jan. 14, 2015
Place of Incorporation/ Establishment	British Virgin Islands
Percentage of Direct or Indirect Economic Interest	100.00%
Principal Activities	Investment holding
Subsidiaries [Member] \| Hong Kong Smart Choice Ventures Limited ("HK Smart Choice") [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of Incorporation/ Establishment	Feb. 18, 2015
Place of Incorporation/ Establishment	Hong Kong
Percentage of Direct or Indirect Economic Interest	100.00%
Principal Activities	Investment holding
Subsidiaries [Member] \| Zhixuan International Management Consulting (Shenzhen) Co., Ltd. ("Shenzhen Zhixuan") [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of Incorporation/ Establishment	Jun. 09, 2015
Place of Incorporation/ Establishment	PRC
Percentage of Direct or Indirect Economic Interest	100.00%
Principal Activities	Management consulting and marketing consulting
Subsidiaries [Member] \| Zhixuan Management Consulting (Tianjin) Co. Ltd [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of Incorporation/ Establishment	Apr. 04, 2019
Place of Incorporation/ Establishment	PRC
Percentage of Direct or Indirect Economic Interest	100.00%
Principal Activities	Management consulting and marketing consulting
Variable Interest Entity, Primary Beneficiary [Member] \| Shenzhen Huiye Tianze Investment Holding Co., Ltd ("Huiye Tianze") [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of Incorporation/ Establishment	Oct. 30, 2014
Place of Incorporation/ Establishment	PRC
Percentage of Direct or Indirect Economic Interest	100.00%
Principal Activities	Investment, investment consulting service
Variable Interest Entity, Not Primary Beneficiary [Member] \| Huize Insurance Brokerage Co., Ltd. ("Huize Insurance Brokerage") (former Shenzhen Huize Insurance Brokerage Co., Ltd.) [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of Incorporation/ Establishment	Oct. 14, 2011
Place of Incorporation/ Establishment	PRC
Percentage of Direct or Indirect Economic Interest	100.00%
Principal Activities	Insurance brokerage service
Variable Interest Entity, Not Primary Beneficiary [Member] \| Shenzhen Huize Shidai Co., Ltd. ("Huize Technology") [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of Incorporation/ Establishment	Apr. 28, 2012
Place of Incorporation/ Establishment	PRC
Percentage of Direct or Indirect Economic Interest	100.00%
Principal Activities	Technology development and Internet information consulting service
Variable Interest Entity, Not Primary Beneficiary [Member] \| Hefei Huize Internet Technology Co., Ltd. ("Hefei Huize") [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of Incorporation/ Establishment	Aug. 05, 2015
Place of Incorporation/ Establishment	PRC
Percentage of Direct or Indirect Economic Interest	100.00%
Principal Activities	Technology development and Internet information consulting service
Variable Interest Entity, Not Primary Beneficiary [Member] \| Shenzhen Zhixuan Wealth Investment Management Co., Ltd. ("Zhixuan Investment") [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of Incorporation/ Establishment	Apr. 20, 2016
Place of Incorporation/ Establishment	PRC
Percentage of Direct or Indirect Economic Interest	100.00%
Principal Activities	Management consulting, Investment consulting and financial consulting
Variable Interest Entity, Not Primary Beneficiary [Member] \| Huize (Chengdu) Internet Technology Co., Ltd. ("Chengdu Huize") [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Date of Incorporation/ Establishment	May 11, 2018
Place of Incorporation/ Establishment	PRC
Percentage of Direct or Indirect Economic Interest	100.00%
Principal Activities	Technology development consulting service

Summary of Significant Accounting Policies - Summarized of Financial Information Group's Consolidated Financial Statements (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Schedule of Equity Method Investments [Line Items]
Net cash (used in)/provided by operating activities	¥ 118,024	$ 16,955	¥ 66,853	¥ (85,349)
Net cash provided by/(used) in investing activities	(6,927)	(994)	(3,554)	57,767
Net cash provided by/(used) in financing activities	(14,079)	(2,024)	48,572	22,988
Cash and cash equivalents at beginning of year	6,640
Cash and cash equivalents at end of year	88,141	$ 12,661	6,640
Huiye Tianze and Its Subsidiaries [Member]
Schedule of Equity Method Investments [Line Items]
Current assets	478,453		307,164
Non-current assets	46,267		32,936
Total assets	524,720		340,100
Current liabilities	368,617		304,358
Non-current liabilities	1,054		16,378
Total liabilities	369,671		320,736
Total operating revenue	984,910		498,228	246,968
Net (loss)/profit	22,806		29,973	(95,746)
Net cash (used in)/provided by operating activities	104,565		67,049	(83,524)
Net cash provided by/(used) in investing activities	(6,927)		(3,541)	57,760
Net cash provided by/(used) in financing activities	823		48,720	22,973
Net (decrease)/increase in cash and cash equivalents	98,461		112,228	(2,791)
Cash and cash equivalents at beginning of year	149,908		37,680	40,471
Cash and cash equivalents at end of year	¥ 248,369		¥ 149,908	¥ 37,680

Summary of Significant Accounting Policies - Summary of Estimated Useful Life and Residual Value of Property Plant and Equipment (Detail)	12 Months Ended
	Dec. 31, 2019
Office furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Office furniture and equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Residual value	0.00%
Office furniture and equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Residual value	5.00%
Computer and electronic equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Residual value	0.00%
Computer and electronic equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Residual value	5.00%
Motor vehicles [Member]
Property, Plant and Equipment [Line Items]
Residual value	5.00%
Motor vehicles [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	4 years
Motor vehicles [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life	shorter of remaining lease period and estimated useful life
Residual value	0.00%

Summary of Significant Accounting Policies - Summary of Estimated Useful Life and Residual Value of Intangible Assets (Detail)	12 Months Ended
	Dec. 31, 2019
Domain name [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years
Residual value	0.00%
Purchased computer software [Member]
Finite-Lived Intangible Assets [Line Items]
Residual value	0.00%
Purchased computer software [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years
Purchased computer software [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years

Summary of Significant Accounting Policies - Summary of Customer Concentration Risk (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2019 USD ($)
Concentration Risk [Line Items]
Operating revenues	¥ 993,319	$ 142,681	¥ 508,828	¥ 263,332
Accounts receivable	180,393		108,434		$ 25,912
Customer Concentration Risk [Member] \| Operating revenue [Member]
Concentration Risk [Line Items]
Operating revenues	¥ 545,606		¥ 243,844	¥ 18,820
Concentration risk, percentage	55.00%	55.00%	49.00%	7.00%
Customer Concentration Risk [Member] \| Operating revenue [Member] \| Customer B [Member]
Concentration Risk [Line Items]
Operating revenues	¥ 184,035		¥ 99,425
Concentration risk, percentage	19.00%	19.00%	20.00%
Customer Concentration Risk [Member] \| Operating revenue [Member] \| Customer C [Member]
Concentration Risk [Line Items]
Operating revenues	¥ 142,443		¥ 44,296
Concentration risk, percentage	14.00%	14.00%	9.00%
Customer Concentration Risk [Member] \| Operating revenue [Member] \| Customer H [Member]
Concentration Risk [Line Items]
Operating revenues	¥ 124,946
Concentration risk, percentage	13.00%	13.00%
Customer Concentration Risk [Member] \| Operating revenue [Member] \| Customer A [Member]
Concentration Risk [Line Items]
Operating revenues	¥ 94,182		¥ 100,123	¥ 18,820
Concentration risk, percentage	9.00%	9.00%	20.00%	7.00%
Customer Concentration Risk [Member] \| Accounts receivable [Member]
Concentration Risk [Line Items]
Accounts receivable	¥ 136,316		¥ 55,028
Concentration risk, percentage	76.00%	76.00%	51.00%
Customer Concentration Risk [Member] \| Accounts receivable [Member] \| Customer B [Member]
Concentration Risk [Line Items]
Accounts receivable	¥ 16,945		¥ 11,970
Concentration risk, percentage	9.00%	9.00%	11.00%
Customer Concentration Risk [Member] \| Accounts receivable [Member] \| Customer C [Member]
Concentration Risk [Line Items]
Accounts receivable	¥ 8,419		¥ 33,146
Concentration risk, percentage	5.00%	5.00%	30.00%
Customer Concentration Risk [Member] \| Accounts receivable [Member] \| Customer A [Member]
Concentration Risk [Line Items]
Accounts receivable	¥ 33,380		¥ 612
Concentration risk, percentage	19.00%	19.00%	1.00%
Customer Concentration Risk [Member] \| Accounts receivable [Member] \| Customer I [Member]
Concentration Risk [Line Items]
Accounts receivable	¥ 42,444
Concentration risk, percentage	24.00%	24.00%
Customer Concentration Risk [Member] \| Accounts receivable [Member] \| Customer J [Member]
Concentration Risk [Line Items]
Accounts receivable	¥ 35,128		¥ 9,300
Concentration risk, percentage	19.00%	19.00%	9.00%

Summary of Significant Accounting Policies - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2016 CNY (¥)
Accounting policies [line items]
Foreign exchange convenience rate	6.9618				6.9618
Unremitted insurance premiums	¥ 136,706		¥ 121,151		$ 19,637
Restricted cash balance	24,480		24,480	¥ 24,480	3,566
Impairment loss	0		0	0
Share-based compensation expense	¥ 94,958	$ 13,640	967	811
Valued added tax percentage	6.00%	6.00%
Advertising and marketing expenses	¥ 47,927		21,606	36,215
Cash and cash equivalents and restricted cash	249,327		152,271	¥ 40,280	$ 35,814	$ 21,872	¥ 45,108
Currency risk [Member]
Accounting policies [line items]
Cash and cash equivalents and restricted cash	¥ 247,354		¥ 149,908

Accounts Receivable, Net of Allowance for Doubtful Accounts - Summary of Account Receivables, Net of Allowance for Doubtful Accounts (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Receivables [Abstract]
Accounts receivable	¥ 181,520		¥ 109,008
Less: allowance for doubtful accounts	(1,127)		(574)	¥ (312)
Accounts receivable, net	¥ 180,393	$ 25,912	¥ 108,434

Accounts Receivable, Net of Allowance for Doubtful Accounts - Summary of Movement of Allowance for Doubtful Accounts (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Receivables [Abstract]
Balance at the beginning of the year	¥ 574		¥ 312
Provision for doubtful accounts	626	$ 90	376	¥ 801
Write-offs	(73)		(114)
Balance at the end of the year	¥ 1,127		¥ 574	¥ 312

Related Party Balances and Transactions - Schedule of Related Party Transactions (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Due from related parties	¥ 280	¥ 10,546
Due to related parties	465
Cunjun Ma [Member]
Related Party Transaction [Line Items]
Due from related parties		1,850
Due to related parties	465
Shareholders [Member]
Related Party Transaction [Line Items]
Due from related parties	¥ 280	¥ 8,696

Prepaid Expenses and Other Receivables - Summary of Prepaid Expenses and Receivables (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Current portion:
Advances to suppliers	¥ 7,341		¥ 4,881
Prepaid input value-added tax	6,000		2,598
Directors and Officers Liability Insurance premium	5,181
Rental and other deposits	4,697		2,644
Interest receivables	2,372		1,489
Claim advance on behalf of insurer	1,671		6,555
Government subsidy	1,378		1,378
Advances to staff	402		937
Others	154		114
Total prepaid expenses and other receivables	29,196	$ 4,194	20,596
Non-Current portion:
Capitalized IPO expenses	13,746		3,831
Others	417
Total	¥ 14,163		¥ 3,831

Property, Plant and Equipment, net - Summary of Property, Plant and Equipment, Net (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Property, Plant and Equipment [Line Items]
Property, equipment and equipment, gross	¥ 21,112		¥ 16,932
Less: Accumulated depreciation	(13,106)		(10,578)
Property, equipment and equipment, net	8,006	$ 1,150	6,354
Computer and electronic equipment [Member]
Property, Plant and Equipment [Line Items]
Property, equipment and equipment, gross	12,478		8,974
Leaseholds improvements [Member]
Property, Plant and Equipment [Line Items]
Property, equipment and equipment, gross	4,873		4,123
Office furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, equipment and equipment, gross	2,774		2,848
Motor vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, equipment and equipment, gross	¥ 987		¥ 987

Property, Plant and Equipment, net - Summary of Property, Plant and Equipment, Net (Parenthetical) (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation	¥ 3,441	¥ 2,790	¥ 3,377

Property, Plant and Equipment, net - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Impairment for property, plant and equipment	¥ 0	¥ 0	¥ 0

Intangible Assets, Net - Schedule of Finite-Lived Intangible Assets (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	¥ 2,721	¥ 1,927
Less: Accumulated amortization	(1,069)	(730)
Intangible assets, net	1,652	1,197
Software and system [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	2,141	1,347
Domain name [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	¥ 580	¥ 580

Intangible Assets, Net - Schedule of Finite-Lived Intangible Assets (Parenthetical) (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expenses	¥ 338	¥ 292	¥ 185

Intangible Assets, Net - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment for intangible assets	¥ 0	¥ 0	¥ 0

Intangible Assets, Net - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Detail) ¥ in Thousands	Dec. 31, 2019 CNY (¥)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	¥ 358
2021	352
2022	306
2023	194
2024	¥ 151

Long-term Investments - Summary of Long Term Investments (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Summary of Investment Holdings [Line Items]
Beginning balance	¥ 21,575		¥ 17,765	¥ 10,000
Additions	2,000		2,500	6,776
Share of earnings/(loss) of an equity investee	(180)	$ (26)	1,310	989
Ending balance	23,395	$ 3,360	21,575	17,765
Equity securities without readily determinable fair value [Member]
Summary of Investment Holdings [Line Items]
Beginning balance	12,500		10,000	10,000
Additions	2,000		2,500
Ending balance	14,500		12,500	10,000
Equity Method [Member]
Summary of Investment Holdings [Line Items]
Beginning balance	9,075		7,765
Additions				6,776
Share of earnings/(loss) of an equity investee	(180)		1,310	989
Ending balance	¥ 8,895		¥ 9,075	¥ 7,765

Long-term Investments - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Summary of Investment Holdings [Line Items]
Equity observable price changes on impairment	¥ 0	¥ 0
Investments accounted for under equity method	¥ 8,895	¥ 9,075
Shenzhen Chuangbicheng Holding Co. Ltd. [Member]
Summary of Investment Holdings [Line Items]
Payments to acquire equity interest in a private entity			¥ 6,776
Equity interest in a private entity	3.43%		4.15%
Percentage of entity revenue attributable to private entity	34.87%

Short-term Borrowing - Summary of Short-term Borrowing (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Short-term Debt [Line Items]
Bank borrowings	¥ 30,000	¥ 13,000
Current portion of long-term borrowings	6,880	11,267
Short-term borrowing	¥ 36,880	¥ 24,267

Short-term Borrowing - Summary of Short-term Borrowing (Parenthetical) (Detail)	Dec. 31, 2019	Dec. 31, 2018
Minimum [Member]
Short-term Debt [Line Items]
Short-term borrowing, interest rate	5.87%	5.87%
Maximum [Member]
Short-term Debt [Line Items]
Short-term borrowing, interest rate	8.00%	8.00%

Other Payables and Accrued Expenses and Other Non-Current Liabilities - Summary of Other Payables and Accrued Expenses (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current portion:
Professional fees	¥ 9,807	¥ 5,999
Other tax payables	7,469	5,287
Other payable to suppliers	5,992	478
Advances from insured	3,593	2,835
Government housing Benefit	840	660
Rental expense payable	637	9,082
Accrued marketing expense -loyalty points	595	2,074
Deposits	269	414
Interest payable	53	493
Payable to convertible bond holders		8,794
Others	956	792
Total current portion	30,211	¥ 36,908
Non-Current portion:
Payables for long-term assets	518
Other non-current liabilities total	¥ 518

Employee Benefits - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee benefits, total contributions	¥ 30,248	¥ 22,750	¥ 25,161

Income Taxes - Additional Information (Detail) - CNY (¥) ¥ in Thousands			12 Months Ended
	Nov. 02, 2018	Nov. 02, 2015	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Tax rate on taxable income	15.00%		15.00%	25.00%
HNTE, reduced tax rate		15.00%
Withholding income tax rate				10.00%
Withholding income tax rate, Foreign invested enterprise			5.00%
Withholding income tax rate, ownership threshold			2,500
Net operating loss carryforwards			¥ 30,177	¥ 55,346	¥ 61,770
Net operating loss carryforwards, valuation allowance			30,113	55,217	61,770
Net operating loss carryforwards, expected to be utilized			¥ 64	¥ 129	¥ 0
Net operating loss carryforwards, carry over period			0 years	0 years
Net operating loss carryforwards, expiration term			2019 to 2029
Inland Revenue, Hong Kong [Member]
Tax rate on taxable income			16.50%
State Administration of Taxation, China [Member]
Tax rate on taxable income			25.00%

Income Taxes - Summary of Composition of Income Tax Expense (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Current income tax expense	¥ 37		¥ 88	¥ 167
Deferred income tax expense	20	$ 3	190	239
Income tax expense	¥ 57	$ 8	¥ 278	¥ 406

Income Taxes - Summary of Reconciliation of Income Tax Expense (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
(Loss)/profit before income tax	¥ 15,025		¥ 3,206	¥ (96,639)
Tax (benefit)/expense at EIT tax rate of 25%	3,756		802	(24,159)
Effect of different tax rates applicable to different subsidiaries of the Group	(3,394)		6,381	6,628
Changes in valuation allowance	(24,412)		(9,343)	20,211
Investment income not subject to tax	(171)		(17)	(93)
Expenses not deductible for tax purposes	29,067		2,679	2,448
Research and development tax credit	(4,789)		(3,261)	(4,629)
Effect on deferred tax assets due to change in tax rates	0		3,037
Income tax expense	¥ 57	$ 8	¥ 278	¥ 406

Income Taxes - Significant Components of Deferred Tax Assets and Deferred Tax Liabilities (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets
Net accumulated losses-carry forward	¥ 30,177	¥ 55,346
Depreciation and amortization	118	76
Allowance for doubtful accounts	251	93
Accrued expenses	2,729	2,245
Less: valuation allowance	(33,211)	(57,623)	¥ (66,966)	¥ (46,755)
Net deferred tax assets	64	137
Deferred tax liabilities
Gain on equity method investee	530	575
Net deferred tax liabilities	¥ 530	¥ 575

Income Taxes - Summary of Movement of Valuation Allowance (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Balance at the beginning of the year	¥ 57,623	¥ 66,966	¥ 46,755
Additions	2,173	7,182	20,211
Reversals	(26,585)	(16,525)
Balance at end of the year	¥ 33,211	¥ 57,623	¥ 66,966

Long-term Borrowing - Summary of long-term borrowings (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Bank loan	¥ 6,880	¥ 27,071
Less: Current portion of long-term borrowings	(6,880)	(11,267)
Long-term borrowings	0	15,804
Bank Loan Due January 10, 2020 [Member]
Debt Instrument [Line Items]
Bank loan	¥ 62	11,267
Maturity Date	Jan. 10, 2020
Principal Amount	¥ 25,000
Interest Rate Per Annum	7.00%
Bank Loan Due September 30, 2030 [Member]
Debt Instrument [Line Items]
Maturity Date	Sep. 30, 2020
Bank Loan Due September 30 2020 [Member]
Debt Instrument [Line Items]
Bank loan	¥ 6,818	¥ 15,804
Principal Amount	¥ 15,000
Interest Rate Per Annum	7.00%

Long-term Borrowing - Additional Information (Detail) - CNY (¥) ¥ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounts receivable, pledged as collateral	¥ 108,434	¥ 70,690

Common Shares - Additional Information (Detail) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Common shares, authorized	4,549,953,780	4,549,953,780
Common shares, par value	$ 0.00001	$ 0.00001
Common shares, shares issued	483,310,373	445,272,000
Common shares, shares outstanding	483,310,373	445,272,000

Redeemable Preferred Shares and Convertible Bond - Summary Of Group's Redeemable Preferred Shares Activities (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2018 CNY (¥) shares	Dec. 31, 2018 USD ($) shares	Dec. 31, 2017 CNY (¥) shares
Series A Preferred Stock [Member]
Balances as of January 1	¥ 78,390	¥ 73,225		¥ 68,528
Balances as of January 1, Shares \| shares	204,022,000	204,022,000	204,022,000	204,022,000
Redeemable Preferred Shares redemption value accretion	¥ 5,682	¥ 5,165		¥ 4,697
Balances as of December 31	¥ 84,072	¥ 78,390		¥ 73,225
Balances as of December 31, Shares \| shares	204,022,000	204,022,000	204,022,000	204,022,000
Series B Preferred Stock [Member]
Balances as of January 1	¥ 241,918	¥ 223,998		¥ 207,406
Balances as of January 1, Shares \| shares	185,512,580	185,512,580	185,512,580	185,512,580
Redeemable Preferred Shares redemption value accretion	¥ 19,354	¥ 17,920		¥ 16,592
Balances as of December 31	¥ 261,272	¥ 241,918		¥ 223,998
Balances as of December 31, Shares \| shares	185,512,580	185,512,580	185,512,580	185,512,580
Series B+ redeemable preferred shares [Member]
Balances as of January 1	¥ 75,606	¥ 70,005		¥ 64,820
Balances as of January 1, Shares \| shares	43,937,180	43,937,180	43,937,180	43,937,180
Redeemable Preferred Shares redemption value accretion	¥ 6,048	¥ 5,601		¥ 5,185
Balances as of December 31	¥ 81,654	¥ 75,606		¥ 70,005
Balances as of December 31, Shares \| shares	43,937,180	43,937,180	43,937,180	43,937,180
Series B++ redeemable preferred shares [Member]
Balances as of January 1	¥ 25,859
Balances as of January 1, Shares \| shares	16,574,460	0	0
Redeemable Preferred Shares redemption value accretion	¥ 1,770	¥ 432
Issuance of Redeemable Preferred Shares		25,427	$ 16,574,460
Balances as of December 31	¥ 27,629	¥ 25,859
Balances as of December 31, Shares \| shares	16,574,460	16,574,460	16,574,460	0

Redeemable Preferred Shares and Convertible Bond - Additional Information (Detail) - CNY (¥)	1 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2019	Dec. 31, 2018	Jul. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	May 31, 2016	Mar. 31, 2016
Convertible bond, interest			¥ 26,249,000
Convertible Bond [Member]
Convertible bond, interest rate				15.00%
Convertible bond, aggregate principal amount				¥ 33,000,000
Convertible bond, conversion price			¥ 0.74	¥ 1.48
Series A Preferred Stock [Member]
Redeemable Preferred Shares issued	204,022,000	204,022,000	204,022,000		204,022,000	204,022,000
Redeemable Preferred Shares issued, value	¥ 39,404,003	¥ 84,072,000	¥ 78,390,000		¥ 73,225,000	¥ 68,528,000
Redeemable Preferred Shares Converted	87,935,500
Redeemable Preferred Shares, annual rate of return		10.00%
Series B+ redeemable preferred shares [Member]
Redeemable Preferred Shares issued		43,937,180	43,937,180		43,937,180	43,937,180	43,937,180
Redeemable Preferred Shares issued, value		¥ 81,654,000	¥ 75,606,000		¥ 70,005,000	¥ 64,820,000	¥ 62,500,000
Redeemable Preferred Shares, annual rate of return		8.00%
Series B++ redeemable preferred shares [Member]
Redeemable Preferred Shares issued		16,574,460	16,574,460	16,574,460	0
Redeemable Preferred Shares issued, value		¥ 27,629,000	¥ 25,859,000
Redeemable Preferred Shares on conversion of convertible bond			16,574,460
Convertible bond, principal amount			¥ 24,520,000
Convertible bond, interest			¥ 907,000
Redeemable Preferred Shares, annual rate of return		10.00%
Series B redeemable preferred shares [Member]
Redeemable Preferred Shares issued		185,512,580	185,512,580		185,512,580			185,512,580
Redeemable Preferred Shares issued, value								¥ 200,000,000
Redeemable Preferred Shares, annual rate of return		8.00%

Share-based Compensation - Share-based Payment Arrangement, Expensed and Capitalized, Amount (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	¥ 94,958	¥ 967	¥ 811
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	43	9	26
Selling expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	6,514	110	196
General and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	87,980	726	386
Research and development expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation	¥ 421	¥ 122	¥ 203

Share-based Compensation - Share-based Payment Arrangement, Option, Activity (Detail) - Share-based Payment Arrangement, Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options, Outstanding	11,096,360	12,860,000	9,540,000
Number of options, Granted		316,360	5,900,000
Number of options, Exercised	(7,420,000)		(960,000)
Number of options, Forfeited	(3,676,360)	(2,080,000)	(1,620,000)
Number of options, Outstanding		11,096,360	12,860,000
Weighted Average exercise price, Outstanding	$ 0.55	$ 0.53	$ 0.40
Weighted Average exercise price, Granted		1.42	0.71
Weighted Average exercise price, Exercised	0.56		0.36
Weighted Average exercise price, Forfeited	$ 0.52	0.55	0.56
Weighted Average exercise price, Outstanding		$ 0.55	$ 0.53

Share-based Compensation - Share-based Payment Arrangement, Restricted Stock Unit, Activity (Detail)	12 Months Ended
	Dec. 31, 2019 ¥ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options to Employees, Non-vested at December 31, 2019	23,809,190
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options to Employees, Granted	23,809,190
Options to Employees, Non-vested at December 31, 2019	23,809,190
Weighted Average Grant-Date Fair Value, Granted \| ¥ / shares	¥ 4.20
Weighted Average Grant-Date Fair Value, Non-vested at December 31, 2019 \| ¥ / shares	¥ 4.20

Share-based Compensation - Additional Information (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Thousands		12 Months Ended
	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Shares Granted		23,809,190
Share-based compensation expenses		¥ 94,958	¥ 967	¥ 811
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options, Granted			316,360	5,900,000
Share based awards granted, vesting period			1 year
Stock options granted, weighted average grant date fair value			¥ 1.22	¥ 0.65
Intrinsic value of stock options exercised			¥ 0	¥ 886
Share options outstanding			11,096,360	12,860,000	9,540,000
Share-based Payment Arrangement, Option [Member] \| Global Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options outstanding		19,463,440
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based awards granted, vesting period		4 years
Restricted Shares Granted		23,809,190
Share-based compensation expenses		¥ 27,102
Unrecognized Share Based Compensation		¥ 72,923
Weighted Average Grant-Date Fair Value, Non-vested		¥ 4.20
Restricted Stock [Member] \| MR Cunjun Ma [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Shares Granted	14,229,183
Share-based compensation expenses	¥ 59,778
Weighted Average Grant-Date Fair Value, Non-vested	¥ 4.20

Operating Revenue - Disaggregation of Revenue (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Brokerage income
Brokerage income subtotal	¥ 982,124	$ 141,073	¥ 503,547	¥ 251,556
Other income	11,195	1,608	5,281	11,776
Total operating revenue	993,319	142,681	508,828	263,332
Life and Health insurance business
Brokerage income
Brokerage income subtotal	902,596	129,650	371,011	132,816
Property and Casualty insurance business
Brokerage income
Brokerage income subtotal	¥ 79,528	$ 11,423	¥ 132,536	¥ 118,740

Selling Expense - Schedule of Selling Expense (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Selling Expense [Abstract]
Salaries and employment benefits	¥ 97,000		¥ 61,843	¥ 53,577
Advertising and marketing expenses	47,927		21,606	36,215
Share-based compensation expenses	6,514		110	196
Rental and utilities expenses	5,323		5,263	9,404
Office expenses	3,658		2,132	2,704
Travelling expenses	1,927		1,655	1,474
Business development	471		466	247
Depreciation and amortizations	289		383	405
Others	1,556		1,155	758
Total	¥ 164,665	$ 23,653	¥ 94,613	¥ 104,980

Selling Expense - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Selling Expense [Abstract]
Costs of Loyalty Program	¥ 573	¥ 2,434	¥ 11,423

General and Administrative Expenses - Summary of General And Administrative Expenses (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
General and Administrative Expense [Abstract]
Share-based compensation expenses	¥ 87,980		¥ 726	¥ 386
Salaries and employment benefits	35,547		28,963	26,202
Professional service expenses	13,343		3,910	1,969
Bank charges	7,380		3,374	3,284
VAT Surcharge	3,423		2,136	1,046
Office expenses	3,058		1,554	2,489
Travelling expenses	2,682		719	919
Depreciation and amortizations	1,538		1,201	1,746
Rental and utilities expenses	1,468		1,158	1,526
Bad debt expense	626	$ 90	376	801
Other	4,771		2,060	1,509
Total	¥ 161,816	$ 23,243	¥ 46,177	¥ 41,877

Interest Income/(Expenses) (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Banking and Thrift, Interest [Abstract]
Interest on convertible bond			¥ (26,249)
Interest income/(expenses)	¥ (190)	$ (27)	(862)	¥ 655
Total	¥ (190)	$ (27)	¥ (27,111)	¥ 655

Net Loss Per Share (Detail) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥) ¥ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 CNY (¥) ¥ / shares shares	Dec. 31, 2017 CNY (¥) ¥ / shares shares
Numerator:
Net (loss)/profit	¥ 14,968	$ 2,150	¥ 2,928	¥ (97,045)
Less: Net profit/(loss) attributable to non-controlling interests	66	9	(224)	128
Net (loss)/profit attributable to common shareholders of common shares and redeemable preferred shares	14,902	2,141	3,152	(97,173)
Redeemable Preferred Shares redemption value accretion	(32,854)	(4,719)	(29,118)	(26,474)
Allocation to redeemable preferred shareholders	(7,431)	(1,067)	(1,558)	47,934
Net loss attributable to common shareholders-Basic and diluted	¥ (25,383)	$ (3,645)	¥ (27,524)	¥ (75,713)
Denominator:
Denominator for basic and diluted loss per share weighted-average common shares outstanding	452,445,068	452,445,068	445,272,000	445,272,000
Basic and diluted loss per share \| (per share)	¥ (0.06)	$ (0.01)	¥ (0.06)	¥ (0.17)

Net Loss Per Share - Additional Information (Detail) - shares	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Restricted Stock [Member]
Antidiluted securities	3,220,130
Convertible Debt Securities [Member]
Antidiluted securities		15,589,399

Commitments and Contingencies - Schedule of Future Minimum Rental Payments for Operating Leases (Detail) ¥ in Thousands	Dec. 31, 2019 CNY (¥)
Commitments and Contingencies Disclosure [Abstract]
Within 1 year (including 1 year)	¥ 4,777
1-2 years (including 2 year)	1,027
Total	¥ 5,804

Commitments and Contingencies - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Rental Expenses	¥ 6,941	¥ 7,176	¥ 12,050
Capital commitments	¥ 500

Parent Company Only Condensed Financial Information - Summary of Condensed Balance sheet (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2016 CNY (¥)
Assets [Abstract]
Cash And Cash Equivalents At Carrying Value	¥ 88,141	$ 12,661	¥ 6,640
Prepaid expense and other receivables	29,196	4,194	20,596
Long-term investments	23,395	3,360	21,575	¥ 17,765	¥ 10,000
Other assets	14,163	2,034	3,831
Total assets	508,805	73,085	334,084
Liabilities and Equity [Abstract]
Other Accounts Payable and Accrued Liabilities	30,211	4,340	36,908
Liabilities	362,831	52,117	297,549
Temporary Equity [Abstract]
Redeemable Non controlling Interest Equity Preferred Carrying Amount	454,627	65,303	421,773
Shareholders' deficit
Common Stock Value	33	5	31
Additional Paid in Capital	64,882	9,320	2,778
Accumulated Other Comprehensive Income Loss Net Of Tax	414	59	295
Retained Earnings (Accumulated Deficit)	(373,982)	(53,719)	(388,884)
Stockholders' Equity	(308,653)	(44,335)	(385,780)
Liabilities And Stock holders Equity	508,805	73,085	334,084
Series A redeemable preferred shares [Member]
Temporary Equity [Abstract]
Redeemable Non controlling Interest Equity Preferred Carrying Amount	84,072	12,076	78,390
Series B redeemable preferred shares [Member]
Temporary Equity [Abstract]
Redeemable Non controlling Interest Equity Preferred Carrying Amount	261,272	37,529	241,918
Series B+ redeemable preferred shares [Member]
Temporary Equity [Abstract]
Redeemable Non controlling Interest Equity Preferred Carrying Amount	81,654	11,729	75,606
Series B++ redeemable preferred shares [Member]
Temporary Equity [Abstract]
Redeemable Non controlling Interest Equity Preferred Carrying Amount	27,629	3,969	25,859
Parent Company [Member]
Assets [Abstract]
Cash And Cash Equivalents At Carrying Value	62	9
Prepaid expense and other receivables	8,480	1,218	8,480
Long-term investments	152,845	21,955	42,345
Other assets	763	110
Total assets	162,150	23,292	50,825
Liabilities and Equity [Abstract]
Other Accounts Payable and Accrued Liabilities	16,176	2,324	14,832
Liabilities	16,176	2,324	14,832
Temporary Equity [Abstract]
Redeemable Non controlling Interest Equity Preferred Carrying Amount	454,627	65,303	421,773
Shareholders' deficit
Additional Paid in Capital	64,882	9,320	2,778
Accumulated Other Comprehensive Income Loss Net Of Tax	414	59	295
Retained Earnings (Accumulated Deficit)	(373,982)	(53,719)	(388,884)
Stockholders' Equity	(308,653)	(44,335)	(385,780)
Liabilities And Stock holders Equity	162,150	23,292	50,825
Parent Company [Member] \| Common Stock [Member]
Shareholders' deficit
Common Stock Value	33	5	31
Parent Company [Member] \| Series A redeemable preferred shares [Member]
Temporary Equity [Abstract]
Redeemable Non controlling Interest Equity Preferred Carrying Amount	84,072	12,076	78,390
Parent Company [Member] \| Series B redeemable preferred shares [Member]
Temporary Equity [Abstract]
Redeemable Non controlling Interest Equity Preferred Carrying Amount	261,272	37,529	241,918
Parent Company [Member] \| Series B+ redeemable preferred shares [Member]
Temporary Equity [Abstract]
Redeemable Non controlling Interest Equity Preferred Carrying Amount	81,654	11,729	75,606
Parent Company [Member] \| Series B++ redeemable preferred shares [Member]
Temporary Equity [Abstract]
Redeemable Non controlling Interest Equity Preferred Carrying Amount	¥ 27,629	$ 3,969	¥ 25,859

Parent Company Only Condensed Financial Information - Summary of Condensed Balance sheet (Parenthetical) (Detail) - $ / shares	Dec. 31, 2019	Dec. 31, 2018	Jul. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	May 31, 2016	Mar. 31, 2016
Schedule Of Condensed Balance Sheet [Line Items]
Common shares per share	$ 0.00001	$ 0.00001
Common shares, shares issued	483,310,373	445,272,000
Common shares, shares outstanding	483,310,373	445,272,000
Common Stock [Member]
Schedule Of Condensed Balance Sheet [Line Items]
Common shares per share	$ 0.00001
Common shares, shares issued	483,310,373	445,272,000
Common shares, shares outstanding	483,310,373	445,272,000
Series A redeemable preferred shares [Member]
Schedule Of Condensed Balance Sheet [Line Items]
Redeemable preferred shares par value	$ 0.00001	$ 0.00001
Redeemable preferred shares authorized	204,022,000	204,022,000
Redeemable preferred shares issued	204,022,000	204,022,000		204,022,000
Redeemable preferred shares outstanding	204,022,000	204,022,000		204,022,000
Series B redeemable preferred shares [Member]
Schedule Of Condensed Balance Sheet [Line Items]
Redeemable preferred shares par value	$ 0.00001	$ 0.00001
Redeemable preferred shares authorized	185,512,580	185,512,580
Redeemable preferred shares issued	185,512,580	185,512,580		185,512,580			185,512,580
Redeemable preferred shares outstanding	185,512,580	185,512,580		185,512,580
Series B+ redeemable preferred shares [Member]
Schedule Of Condensed Balance Sheet [Line Items]
Redeemable preferred shares par value	$ 0.00001	$ 0.00001
Redeemable preferred shares authorized	43,937,180	43,937,180
Redeemable preferred shares issued	43,937,180	43,937,180		43,937,180	43,937,180	43,937,180
Redeemable preferred shares outstanding	43,937,180	43,937,180		43,937,180
Series B++ redeemable preferred shares [Member]
Schedule Of Condensed Balance Sheet [Line Items]
Redeemable preferred shares par value	$ 0.00001	$ 0.00001
Redeemable preferred shares authorized	16,574,460	16,574,460
Redeemable preferred shares issued	16,574,460	16,574,460	16,574,460	0
Redeemable preferred shares outstanding	16,574,460	16,574,460		0

Parent Company Only Condensed Financial Information - Summary of Comprehensive Income (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2019 USD ($)
Condensed Statement Of Comprehensive Income [Line Items]
General and administrative expenses	¥ 161,816	$ 23,243	¥ 46,177	¥ 41,877
Operating Income (Loss)	1,639	235	24,792	(100,301)
Other expense
Unrealized exchange loss	362	52	(354)	36
Loss before income tax, and share of loss of subsidiaries and VIEs	15,205	2,184	1,896	(97,628)
Share of (loss)/earnings of subsidiaries and VIEs	(180)	(26)	1,310	989
Net (loss)/profit	14,902	2,141	3,152	(97,173)
Redeemable preferred shares redemption value accretion	32,854	4,719	29,118	26,474
Net loss attributable to common shareholders	(25,383)	(3,645)	(27,524)	(75,713)
Foreign currency translation adjustment, net of tax	140	20	327	(37)
Total comprehensive (loss)/income	15,021	2,158	3,447	(97,149)
Parent Company [Member]
Condensed Statement Of Comprehensive Income [Line Items]
General and administrative expenses	(521)	(75)	(50)
Operating Income (Loss)	(521)	(75)	(50)
Other expense
Interest expense			(26,249)
Unrealized exchange loss	(97)	(14)	(325)
Loss before income tax, and share of loss of subsidiaries and VIEs	(618)	(89)	(26,624)
Share of (loss)/earnings of subsidiaries and VIEs	15,520	2,229	29,776	(97,173)
Net (loss)/profit	14,902	2,140	3,152	¥ (97,173)
Redeemable preferred shares redemption value accretion	(32,854)	(4,719)	(29,118)
Allocation to redeemable preferred shares	(7,431)		(1,558)		$ (1,067)
Net loss attributable to common shareholders	(25,383)	(3,646)	(27,524)
Foreign currency translation adjustment, net of tax	119	17	295
Total comprehensive (loss)/income	¥ 15,021	$ 2,157	¥ 3,447

Parent Company Only Condensed Financial Information - Condensed Cash Flow Statement (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 CNY (¥)
Cash flows from operating activities:
Net (loss)/profit	¥ 14,902	$ 2,141	¥ 3,152		¥ (97,173)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Unrealized exchange loss	(362)	(52)	354		(36)
Share of loss/(earnings) of equity method investee	180	26	(1,310)		(989)
Interest on convertible bond			26,249
Increase in other payables and accrued expenses	3,055	439	1,585		(16,182)
Increase in prepaid expense and other receivables	6,860	985	4,152		3,847
Increase in other assets	(10,332)	(1,484)	(3,831)
Cash flows from financing activities:
Net cash provided by financing activities	(14,079)	(2,024)	48,572		22,988
Effect of exchange rate changes on cash and cash equivalents	38	5	120		(234)
Net (decrease)/ increase in cash and cash equivalents and restricted cash	97,056	13,942	111,991		(4,828)
Total cash and cash equivalents and restricted cash at end of year	249,327	35,814	152,271	$ 21,872	40,280
Parent Company [Member]
Cash flows from operating activities:
Net (loss)/profit	14,902	2,140	3,152		(97,173)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Unrealized exchange loss	97	14	325
Share of loss/(earnings) of equity method investee	(15,520)	(2,229)	(29,776)		¥ 97,173
Interest on convertible bond			26,249
Changes in operating assets and liabilities:	(521)	(75)	(50)
Increase in other payables and accrued expenses	1,343	193	8,793
Increase in prepaid expense and other receivables	(59)	(8)	¥ (8,743)
Increase in other assets	(763)	(110)
Cash flows from financing activities:
Proceeds from issuance of common shares and redeemable preferred shares	62	9
Net cash provided by financing activities	62	9
Effect of exchange rate changes on cash and cash equivalents \| $
Net (decrease)/ increase in cash and cash equivalents and restricted cash	62	9
Total cash and cash equivalents and restricted cash at end of year	¥ 62	$ 9

Restricted Net Asset - Additional Information (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Restricted Assets Net [Line Items]
Annual appropriations to general reserve	¥ 0	¥ 0
Percentage of restricted net assets not exceeds of net assets	25.00%
CHINA
Restricted Assets Net [Line Items]
Percentage of statutory general reserve after tax income	10.00%
Percentage of general reserve threshold to equity	50.00%

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - Share Repurchase Program April 2020 [Member] - American Depositary Shares [Member] $ in Millions	Apr. 15, 2020 USD ($)
Subsequent Events [Line Items]
Share repurchase program authorized amount	$ 10
Share repurchase program period in force	12 months

Unaudited Pro Forma Information - Schedule of Pro Forma Basic and Diluted Net Profit (Detail) ¥ / shares in Units, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥) ¥ / shares shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Numerator
Net (loss)/profit attributable to common shareholders	¥ (25,383)	$ (3,645)	¥ (27,524)	¥ (75,713)
Redeemable preferred shares redemption value accretion reversed	32,854	4,719	29,118	26,474
Income allocation to participating redeemable common shares holders	7,431	1,067	1,558	(47,934)
Net (loss)/profit attributable to Huize Holding Limited	14,902	$ 2,141	¥ 3,152	¥ (97,173)
Pro Forma [Member]
Numerator
Net (loss)/profit attributable to common shareholders	(25,383)
Redeemable preferred shares redemption value accretion reversed	32,854
Income allocation to participating redeemable common shares holders	7,431
Net (loss)/profit attributable to Huize Holding Limited	¥ 14,902
Denominator
Weighted average number of common shares used in calculating pro forma basic and diluted net profit per share \| shares	902,491,288	902,491,288
Dilutive effect of restricted shares \| shares	3,220,130	3,220,130
Weighted average number of common shares used in calculating pro forma net income per share—diluted \| shares	905,711,418	905,711,418
Pro forma basic and diluted net (loss)/profit per share \| ¥ / shares	¥ 0.017
Pro forma diluted net (loss)/profit per share \| ¥ / shares	¥ 0.017