Form 6-K





Washington, D.C. 20549









For the month of August 2023

Commission File Number: 001-39216



Huize Holding Limited

(Registrant’s Name)



49/F, Building T1, Qianhai Financial Centre, Linhai Avenue,

Qianhai Shenzhen-Hong Kong Cooperation Zone, Shenzhen 518000

People’s Republic of China

(Address of Principal Executive Offices)



Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  ☒                 Form 40-F  ☐






Exhibit No.    Description
99.1    Press Releases


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Huize Holding Limited
By   :   /s/ Ronald Tam
Name   :   Ronald Tam
Title   :   Co-Chief Financial Officer

Date: August 16, 2023


Exhibit 99.1

Huize Reports Second Quarter 2023 Unaudited Financial Results and Revises Upward Full Year Non-GAAP Net Profit Guidance

SHENZHEN, China, August 15, 2023 (GLOBE NEWSWIRE) – Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ: HUIZ), a leading digital insurance product and service platform for new generation consumers in China, today announced its unaudited financial results for the second quarter ended June 30, 2023.

Second Quarter 2023 Financial and Operational Highlights



Ongoing robust growth in premiums: Gross Written Premiums (“GWP”) facilitated on our platform increased by 58.0% year-over-year to RMB1,377.7 million. First-year premiums (“FYP”) facilitated increased by 85.2% year-over-year to RMB897.9 million. Growth in GWP and FYP was primarily driven by our high-quality customer base, high persistency rates, and the market-leading products we have co-developed with insurer partners for long-term life and health insurance.



Further improvement in cost-efficiency and sustainable profitability: Operating expense-to-revenue ratio improved substantially, decreasing by 16.2 percentage points year-over-year to 31.6%. Net profit in the second quarter of 2023 was RMB14.1 million (US$1.9 million). Non-GAAP net profit was RMB19.0 million, representing our third consecutive quarter of profitability.



Cumulative number of insurance clients served increased to approximately 8.9 million as of June 30, 2023. We cooperate with 110 insurer partners, including 68 life & health insurance companies and 42 property & casualty insurance companies, as of June 30, 2023.



As of June 30, 2023, cash and cash equivalents were RMB247.6 million (US$34.1 million).

Mr. Cunjun Ma, Founder and CEO of Huize, commented, “We are pleased to report another solid quarter with GWP, FYP, and total revenue all growing in the double-digits year-over-year. This quarter also marks the third consecutive quarter of profitability, with net profit of RMB14.1 million and non-GAAP net profit of RMB19.0 million. Our robust business performance reflects our continued success in attracting high-quality customers in higher-tier cities, market-leading position in long-term insurance products, and the empowerment of our independent insurance agents by our open platform. With the gradual recovery of the macro economy, we are revising non-GAAP net profit guidance for the full year 2023 upwards to RMB60 million from RMB50 million.”

“During the period, we continued to optimize our product offerings by working with leading insurance companies to develop more customized and cost-effective products for our customers. In August, we further extended the partnership with China Pacific Insurance with our inaugural customized product launch in the Hong Kong market – the launch of ‘Jin Man Yi Zu Multi-Currency’ to facilitate ‘underwriting in Hong Kong and retirement in the Mainland’ for Hong Kong customers, representing a milestone in the development of cross-boundary insurance services in the Greater Bay Area.”

“In the second quarter of 2023, we continued to deepen the O2O integration of our insurance service ecosystem, which continued to yield encouraging results. Within the ‘To-A’ segment, we kept exploring new technology and we have empowered independent agents with sophisticated intelligent tools. FYP facilitated by the ‘To-A’ business during the quarter more than doubled sequentially to RMB156.4 million. In the ‘To-C’ segment, we remained committed to our “customer-centric” approach and continued to fine-tune our operations to better recognize client needs and risks, and provide targeted product and service matching for various customer segments. This contributed to a 43.2% year-over-year increase in the average FYP ticket size during the quarter for long-term savings products, amounting to approximately RMB63,000. Moving forward, we will continue to strengthen the integration of our O2O ecosystem to further enhance the customer experience. Our goal is to reinforce our position as a leading digital insurance product and service platform leveraging our deep industry expertise and cutting-edge technology to drive high-quality growth and create long-term sustainable shareholder value.”

Second Quarter 2023 Financial Results

GWP and operating revenue

GWP facilitated on our platform was RMB1,377.7 million (US$190.0 million) in the second quarter of 2023, an increase of 58.0% from RMB871.8 million in the same period of 2022. Within GWP, FYP accounted for RMB897.9 million (or 65.2% of total GWP), an increase of 85.2% year-over-year. Renewal premiums accounted for RMB479.8 million (or 34.8% of total GWP), an increase of 24.0% year-over-year.

Operating revenue was RMB368.2 million (US$50.8 million) in the second quarter of 2023, an increase of 48.3% from RMB248.2 million in the same period of 2022. The increase was primarily driven by the increase in FYP facilitated on our platform.

Operating costs

Operating costs were RMB243.6 million (US$33.6 million) in the second quarter of 2023, representing an increase of 40.2% from RMB173.7 million in the same period of 2022. Operating costs grew at a slower pace than operating revenue, primarily due to a reduction in personnel costs.

Operating expenses

Selling expenses were RMB57.3 million (US$7.9 million) in the second quarter of 2023, a decrease of 3.7% from RMB59.5 million in the same period of 2022, primarily due to a decrease in salaries and employment benefits.

General and administrative expenses were RMB37.1 million (US$5.1 million) in the second quarter of 2023, an increase of 6.8% from RMB34.7 million in the same period of 2022, mainly due to an increase in salaries and employment benefits and share-based compensation expenses, partly offset by a reduction in rental and utilities expenses.

Research and development expenses were RMB22.0 million (US$3.0 million) in the second quarter of 2023, a decrease of 9.5% from RMB24.3 million in the same period of 2022, primarily due to a decrease in technology service fee.

Net profit and Non-GAAP net profit for the period

Net profit in the second quarter of 2023 was RMB14.1 million (US$1.9 million), compared with a net loss of RMB39.4 million in the same period of 2022.

Non-GAAP net profit was RMB19.0 million (US$2.6 million) in the second quarter of 2023, compared with a non-GAAP net loss of RMB37.5 million in the same period of 2022.

Cash and cash equivalents

As of June 30, 2023, the combined balance of the Company’s cash and cash equivalents amounted to RMB247.6 million (US$34.1 million), compared to RMB277.2 million as of December 31, 2022.

Share Repurchase Program

Year to date as of June 30, 2023, the Company had purchased an aggregate of 1,032,242 ADSs for a total amount of approximately US$1.3 million under its share repurchase program.

Business Outlook

Based on the Company’s preliminary assessment of current market conditions and the better-than-expected results in the first half of 2023, Huize is revising its outlook for non-GAAP net profit attributable to shareholders upwards from RMB50 million to not less than RMB60 million in 2023. This forecast reflects the Company’s current and preliminary views on the market and operational conditions, which are subject to change as a result of various market uncertainties.

Conference Call

The Company’s management team will hold an earnings conference call at 8:00 A.M. Eastern Time on Tuesday, August 15, 2023 (8:00 P.M. Beijing/Hong Kong Time on Tuesday, August 15, 2023). Details for the conference call are as follows:

Event Title: Huize Holding Limited’s Second Quarter 2023 Earnings Conference Call

Registration Link:

All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registration, each participant will receive a confirmation email containing dial-in numbers and a unique access PIN, which will be used to join the conference call.

Additionally, a live and archived webcast of the conference call will also be available on the Company’s investor relations website at

About Huize Holding Limited

Huize Holding Limited is a leading digital insurance product and service platform for new generation consumers in China. Targeting the younger generation, Huize is dedicated to serving its insurance clients for their life-long insurance needs. Leveraging its online platform, Huize offers a wide variety of insurance products with a focus on long-term life and health insurance products and empowers its insurer partners to reach a large fragmented client base in the insurance retail market efficiently and enhance their insurance sales. Huize provides insurance clients with digitalized insurance experience and services, including suitable product recommendations, consulting service, intelligent underwriting, and assistance in claim application and settlement, which significantly improve transaction experience.

For more information, please visit

Use of Non-GAAP Financial Measure Statement

In evaluating our business, we consider and use non-GAAP net profit/(loss) attributable to common shareholders as a supplemental measure to review and assess our operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We define non-GAAP net profit/(loss) attributable to common shareholders as net profit/(loss) attributable to common shareholders excluding share-based compensation expenses and interest on convertible bond. Such adjustments have no impact on income tax because either the non-GAAP adjustments were recorded at entities located in tax free jurisdictions, such as the Cayman Islands or because the non-GAAP adjustments were recorded at operating entities located in the PRC for which the non-GAAP adjustments were not deductible for tax purposes.

We present the non-GAAP financial measure because it is used by our management to evaluate our operating performance and formulate business plans. Non-GAAP net profit/(loss) attributable to common shareholders enables our management to assess our operating results without considering the impact of share-based compensation expenses and the interest on convertible bond. We also believe that the use of this non-GAAP financial measure facilitates investors’ assessment of our operating performance.

This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as an analytical tool. One of the key limitations of using adjusted net profit/(loss) attributable to common shareholders is that it does not reflect all items of income and expense that affect our operations. Further, the non-GAAP financial measure may differ from the non-GAAP financial information used by other companies, including peer companies, and therefore their comparability may be limited.

The non-GAAP financial measure should not be considered in isolation or construed as an alternative to net profit/(loss) attributable to common shareholders or any other measure of performance or as an indicator of our operating performance. Investors are encouraged to review the historical non-GAAP financial measure in light of the most directly comparable GAAP measure, as shown below. The non-GAAP financial measure presented here may not be comparable to similarly titled measure presented by other companies. Other companies may calculate similarly titled measures differently, limiting the usefulness of such measures when analyzing our data comparatively. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.2513 to US$1.00, the exchange rate on June 30, 2023, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollars amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about Huize’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, business outlook and quotations from management in this announcement, contain forward-looking statements. Huize may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Huize’s goal and strategies; Huize’s expansion plans; Huize’s future business development, financial condition and results of operations; Huize’s expectation regarding the demand for, and market acceptance of, its online insurance products; Huize’s expectations regarding its relationship with insurer partners and insurance clients and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing.

Further information regarding these and other risks is included in Huize’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Huize does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Investor Relations

Media Relations


In China

Ms. Crystal Lai

Phone: +852 2117 0861


In U.S.

Ms. Linda Bergkamp

Phone: +1-480-614-3004


Huize Holding Limited

Unaudited Consolidated Balance Sheets

(all amounts in thousands, except for share and per share data)


     As of December 31    

As of June 30

     2022     2023  
     RMB     RMB     USD  



Current assets


Cash and cash equivalents

     277,168       247,609       34,147  

Restricted cash

     98,917       99,263       13,689  

Contract assets, net of allowance for doubtful accounts

     49,888       26,611       3,670  

Accounts receivables, net of allowance for impairment

     250,667       284,094       39,176  

Insurance premium receivables

     1,792       2,077       286  

Amounts due from related parties

     489       320       44  

Deferred costs

     —         3,347       462  

Prepaid expense and other receivables

     71,818       98,261       13,551  










Total current assets

     750,739       761,582       105,025  










Non-current assets


Contract assets, net of allowance for doubtful accounts

     6,634       6,354       876  

Property, plant and equipment, net

     38,518       30,193       4,164  

Intangible assets, net

     53,498       49,285       6,797  

Long-term investments

     77,305       75,559       10,420  

Operating lease right-of-use assets

     162,180       126,493       17,444  


     461       461       64  

Other assets

     279       3,279       452  










Total non-current assets

     338,875       291,624       40,217  










Total assets

     1,089,614       1,053,206       145,242  










Liabilities, Mezzanine Equity and Shareholders’ Equity


Current liabilities


Short-term borrowings

     150,000       30,200       4,165  

Accounts payable

     262,266       290,718       40,092  

Insurance premium payables

     27,567       44,255       6,103  

Contract liabilities

     4,034       4,599       634  

Other payables and accrued expenses

     58,251       57,981       7,996  

Payroll and welfare payable

     43,938       86,975       11,994  

Income taxes payable

     2,440       2,440       336  

Operating lease liabilities

     10,075       16,888       2,329  

Amount due to related parties

     495       1,475       203  










Total current liabilities

     559,066       535,531       73,852  










Non-current liabilities


Deferred tax liabilities

     12,491       11,408       1,573  

Operating lease liabilities

     176,032       136,050       18,762  

Payroll and welfare payable

     —         518       71  










Total non-current liabilities

     188,523       147,976       20,406  










Total liabilities

     747,589       683,507       94,258  










Commitments and contingencies


Shareholders’ equity


Class A common shares

     62       62       9  

Class B common shares

     10       10       1  

Treasury stock

     (15,306     (24,435     (3,370

Additional paid-in capital

     904,935       905,040       124,811  

Accumulated other comprehensive loss

     (17,695     (12,443     (1,716

Accumulated deficits

     (531,127     (499,095     (68,828










Total shareholders’ equity attributable to Huize Holding Limited shareholders

     340,879       369,139       50,907  

Non-controlling interests

     1,146       560       77  










Total shareholders’ equity

     342,025       369,699       50,984  










Total liabilities and shareholders’ equity

     1,089,614       1,053,206       145,242  










Huize Holding Limited

Unaudited Consolidated Statements of Comprehensive Income/(Loss)

(all amounts in thousands, except for share and per share data)


     For the Three Months Ended June 30,     For the Six Months Ended June 30,  
     2022     2023     2022     2023  
     RMB     RMB     USD     RMB     RMB     USD  

Operating revenue


Brokerage income

     231,802       355,563       49,034       523,620       643,919       88,800  

Other income

     16,422       12,628       1,741       24,087       23,182       3,197  



















Total operating revenue

     248,224       368,191       50,775       547,707       667,101       91,997  



















Operating costs and expenses


Cost of revenue

     (163,070     (238,512     (32,892     (311,330     (412,588     (56,897

Other cost

     (10,643     (5,051     (697     (12,058     (10,822     (1,492



















Total operating costs

     (173,713     (243,563     (33,589     (323,388     (423,410     (58,389



















Selling expenses

     (59,537     (57,343     (7,908     (133,455     (113,622     (15,669

General and administrative expenses

     (34,730     (37,081     (5,114     (72,988     (70,610     (9,738

Research and development expenses

     (24,314     (22,003     (3,034     (47,657     (40,315     (5,560



















Total operating costs and expenses

     (292,294     (359,990     (49,645     (577,488     (647,957     (89,356



















Operating profit/(loss)

     (44,070     8,201       1,130       (29,781     19,144       2,641  



















Other income/(expenses)


Interest income/(expenses)

     (1,290     1,011       139       (2,545     807       111  

Unrealized exchange loss

     (31     (79     (11     (45     (208     (29

Investment income/(loss)

     357       (774     (107     (1,782     (315     (43

Others, net

     5,271       5,691       785       6,722       13,012       1,794  



















Profit/(loss) before income tax, and share of income/(loss) of equity method investee

     (39,763     14,050       1,936       (27,431     32,440       4,474  



















Share of loss of equity method investee

     (199     (7     (1     (2,640     (994     (137



















Net profit/(loss)

     (39,962     14,043       1,935       (30,071     31,446       4,337  



















Net loss attributable to non-controlling interests

     (585     (79     (11     (1,251     (586     (81



















Net profit/(loss) attributable to common shareholders

     (39,377     14,122       1,946       (28,820     32,032       4,418  



















Net profit/(loss)

     (39,962     14,043       1,935       (30,071     31,446       4,337  

Foreign currency translation adjustment, net of tax

     6,375       5,764       795       5,713       5,252       724  

Comprehensive income/(loss)

     (33,587     19,807       2,730       (24,358     36,698       5,061  



















Comprehensive loss attributable to non-controlling interests

     (585     (79     (11     (1,251     (586     (81



















Comprehensive income/(loss) attributable to Huize Holding Limited

     (33,002     19,886       2,741       (23,107     37,284       5,142  



















Weighted average number

of common shares used in

computing net profit per share


Basic and diluted

     1,020,237,707       1,004,586,294       1,004,586,294       1,023,005,019       1,008,291,649       1,008,291,649  

Net profit/(loss) per share

attributable to common



Basic and diluted

     (0.04     0.01       0.00       (0.03     0.03       0.00  

Huize Holding Limited

Unaudited Reconciliations of GAAP and Non-GAAP Results

(all amounts in thousands, except for share and per share data)


     For the Three Months Ended June 30,      For the Six Months Ended June 30,  
     2022     2023      2022     2023  
     RMB     RMB      USD      RMB     RMB      USD  

Net profit/(loss) attributable to common shareholders

     (39,377     14,122        1,946        (28,820     32,032        4,418  

Share-based compensation expenses

     1,920       4,889        674        3,703       5,393        744  



















Non-GAAP net profit/(loss) attributable to common shareholders

     (37,457     19,011        2,620        (25,117     37,425        5,162