Huize Authorizes US$5 Million Share Repurchase Program
20 Marzo 2024 - 3:00AM
Huize Holding Limited, (“Huize”, the “Company” or “we”) (NASDAQ:
HUIZ), a leading insurance technology platform connecting
consumers, insurance carriers and distribution partners digitally
through data-driven and AI-powered solutions in China, today
announced that its Board of Directors (“the Board”) has authorized
a share repurchase program under which Huize may repurchase up to
US$5 million of its Class A common shares in the form of American
depositary shares over the next 12 months, subject to relevant
rules under the Securities Exchange Act of 1934, as amended, and
Huize’s insider trading policy.
Mr. Cunjun Ma, Chairman and Chief Executive
Officer of Huize, said, “The Board's decision to authorize the
share repurchase program aligns with our dedication to delivering
value to our shareholders and demonstrates our optimism about
Huize's long-term growth trajectory. We view the current market
conditions as an opportunity to strategically allocate capital,
further enhancing shareholder value while ensuring we have the
necessary resources to fund our operations and continued business
expansion. We are excited about the future of Huize and confident
in our ability to drive innovation, capture market opportunities,
and deliver sustainable growth.”
The share repurchases may be made from time to
time in the open market at prevailing market prices, in privately
negotiated transactions, in block trades and/or through other
legally permissible means, depending on market conditions and in
accordance with applicable rules and regulations. The Board will
review the share repurchase program periodically and may authorize
adjustments of its terms and size. The Company expects to fund
repurchases made under this program from its existing cash balance
and cash generated from operations.
About Huize Holding Limited
Huize Holding Limited is a leading insurance platform connecting
consumers, insurance carriers and distribution partners digitally
through data-driven and AI-powered solutions in China. Targeting
mass affluent consumers, Huize is dedicated to serving consumers
for their life-long insurance needs. Its online-to-offline
integrated insurance ecosystem covers the entire insurance life
cycle and offers consumers a wide spectrum of insurance products,
one-stop services, and a streamlined transaction experience across
all scenarios. By leveraging AI, data analytics, and digital
capabilities, Huize empowers the insurance service chain with
proprietary technology-enabled solutions for insurance
consultation, user engagement, marketing, risk management, and
claims service.
For more information, please visit http://ir.huize.com.
For investor and media inquiries, please
contact:
Investor RelationsHarriet HuInvestor Relations
Directorinvestor@huize.com
Media Relationsmediacenter@huize.com
Christensen AdvisoryIn ChinaMs. Crystal
LaiPhone: +852 2117 0861Email: crystal.lai@christensencomms.com
In U.S.Ms. Linda BergkampPhone: +1-480-614-3004Email:
linda.bergkamp@christensencomms.com
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