Huize Holding Limited Announces Completion of Acquisition

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SHENZHEN, China, Jan. 14, 2022 (GLOBE NEWSWIRE) — Huize Holding Limited (“Huize” or the “Company”) (NASDAQ: HUIZ), a leading digital insurance products and services platform for next-generation consumers in China, today announced that it has notified Hubei Shengs Life & General Insurance Agency Co., Ltd. (“Shengs Life & General”) and its shareholders of the termination of the previously announced acquisition of a majority stake in Shengs Life & General (the “Acquisition”). Pursuant to the transaction documents of the Acquisition, the Company exercises its right to terminate the Acquisition on ten business days’ notice due to delays in closing. The termination of the acquisition will become effective on January 28, 2022. The Company will not incur any termination fees in connection with the termination of the purchase.

As previously announced, on September 24, 2021, the Company, through Shenzhen Zhixuan Wealth Investment Management Co., Ltd., a wholly owned subsidiary of the Company’s consolidated variable interest entity, entered into a definitive agreement to acquire a majority stake in Shengs Life & General.

About Huize Holding Limited

Huize Holding Limited is a leading digital insurance products and services platform for next-generation consumers in China. Targeting the younger generation, Huize is dedicated to serving its insurance clients for their lifetime 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 enables its insurance partners to effectively reach a large and fragmented customer base in the insurance retail market and to improve their insurance sales. Huize provides insurance customers with a digitized insurance experience and services, including tailored product recommendations, advisory service, smart underwriting, and claim application and settlement assistance, dramatically improving transaction experience.

For investor and media inquiries, please contact:

Investor Relations
Harriet Hu
Investor Relations Director
+852 3180 9207
[email protected]

Media Relations
[email protected]

Christensen
In China
Mrs. Jasmine Zhu
Phone: +852 2117 0861
Email: [email protected]

In U.S
Mrs. Linda Bergkamp
Phone: +1-480-614-3004
Email: [email protected]

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