Huize Holding Limited (NASDAQ:HUIZ) Q2 2023 Earnings Call Transcript

We have been able to ride through the cyclical challenges and have emerged since the fourth quarter of last year being profitable for three consecutive quarters. So I think the overall trajectory is in terms of medium to long-term as an insurance intermediary as a leading player in this space, we have very positive outlook in the long-term in terms of the market share of a digital brokerage like ourselves, with the increasing separation between record the distribution and the product manufacturing in China. The single-digit percentage market share of our insurance brokerage should go up to more of a high double-digit — mid-double-digits as we have seen in the past economies. So I think that will be the overall outlook on that front. The second-half of this year, we are constructive.

I think there will be some product transitions in this period. Everyone is anticipating that. But at the end of the day, I think it depends on what the customers in the market would demand. And I think that savings product will continue to be the mainstream product in the insurance industry, and we still hold a advantage in customizing the better and newer products with our insurance companies. And we already have a backlog of new products to be launched in the Q3 and Q4 when the time is right, which will be sort of for the average customer in the new environment. Thank you.

Operator: Thank you for your question. I will now hand the conference over to Ms. Harriet Hu for closing remarks.

Harriet Hu: Thank you, operator. One behalf of Huize’s management team, we would like to thank you for your participation in today’s call. And if you require any further information, please feel free to reach out to the IR team. And thank you all for joining us today. This concludes the call.

Operator: And this concludes the conference for today. Thank you for participating. You may all disconnect.