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Wednesday, May 25, 2022

Huize Holding Ltd. (HUIZ) Stock Roar in Premarket Following Financial Statement Release.

Huize Holding Ltd. (HUIZ) is a leader in providing digital insurance-based products for new generation Chinese clients as it targets the young generation., The company is offering a diversified insurance product line by leveraging its digital portfolio. It is the provider of services including product recommendation and consultation, intelligent underwriting, and support in the application and settlement of claims.


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HUIZ stock price during the regular trading of March 17, 2022, was up by 5.54% to be $0.95. Its price augmented further as of this writing in the premarket session of March 18, 2022, by 35.79%.

HUIZ: Key Financials

On March 18, 2022, HUIZ reported its consolidated financial statement for the fourth quarter of 2021, which ended December 31, 2021. Some key aspects are highlighted below.

Revenue

Total operating revenues in the fourth quarter of fiscal 2021 were RMB976.3 million in comparison to RMB388.1 million during the same period of 2020. The operating revenues inclined by 151.6% YoY.

EPS

Net income per share basic and diluted in Q4 2021 was RMB19.8 million or RMB0.02 versus a net loss of RMB26.9 million or RMB0.03 in the corresponding 2020 quarter. The company observed a notable gain in its EPS over the year.

HUIZ: Events and Happenings

On March 18, 2022, HUIZ reported the authorization of a share reacquisition program by its Board of Directors to reacquire approximately $5 million common shares as ADS over the year. On January 14, 2022, HUIZ updated on the release of the ‘Xiao Ma Claim’ 2021 Service Annual Review. It is the report summarizing the general performance of the company’s claims assistance and providing understanding into insurance customer profiles.

On January 14, 2022, HUIZ announced the notification given to Hubei Shengs Life & General Insurance Agency Co. along with its stockholders of the conclusion of the purchase of a controlling equity interest in Shengs.

Conclusion

HUIZ stock down-performed in the previous year by 90%. Its stock price gained momentum in Friday’s premarket session as the company reported its financial statement and noted a gain in revenue and EPS over the year.

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