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慧 择 huize Huize Holding Limited Reports First Half and Second Quarter 2021 Unaudited Financial Results September 9 , 2021 SHENZHEN , China , Sept. 09 , 2021 ( 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 first half and second quarter ended June 30 , 2021 . First Half 2021 Highlights • Gross Written Premiums ( " GWP " ) facilitated on our platform increased by 72.7 % to RMB2.06 billion ( US $ 319.1 million ) from RMB1.19 billion in the first half of 2020. Of the total GWP facilitated , first year premiums ( " FYP " ) accounted for RMB1.19 billion ( 57.9 % ) and renewal premiums accounted for RMB868.8 million ( 42.1 % ) . • Operating revenue increased by 97.1 % to RMB953.6 million ( US $ 147.7 million ) , from RMB483.7 million in the first half of 2020 . • Cumulative number of insurance clients served increased to approximately 7.2 million , and cumulative number of insured clients reached approximately 60.3 million as of June 30 , 2021 . • We cooperated with 88 insurer partners , including 54 life and health insurance companies , and 34 property & casualty insurance companies as of June 30 , 2021 . Second Quarter 2021 Highlights : • GWP facilitated on our platform increased by 12.1 % to RMB668.0 million ( US $ 103.5 million ) from RMB596.0 million in the second quarter of 2020 . • Operating revenue decreased by 7.0 % to RMB218.6 million ( US $ 33.9 million ) from RMB235.0 million in the second quarter of 2020 . CEO comments " We are excited to achieve record highs in both gross written premiums of RMB2.06 billion and operating revenue of RMB953.6 million in the first half of this year , " said Cunjun Ma , Founder and CEO of Huize . " We have continued to leverage our data insights and Al technologies to co - develop highly desirable products with our insurer partners and create longer - term engagements with our customers . With our 97.1 % year - over - year top - line growth and continued leadership in the market , we expect to achieve full year 2021 revenue of RMB1.7 billion . " " China's insurance industry is still in an emerging and rapidly growing stage , and we believe that many more will become first - time buyers of life and health insurance in future decades . The industry is facing great challenges and opportunities . Given the average age of our insurance clients of 33 years old and over 95 % persistency rates , Huize is well - positioned to capture the opportunity and poised to see continued growth in our business for years to come . " " On August 17 , 2021 , we announced a US $ 5 million Management Share Purchase Plan by the management team . This program strongly demonstrates our long - term confidence and commitment in our business . " First Half 2021 Financial Results GWP and operating revenue GWP facilitated was RMB2.06 billion ( US $ 319.3 million ) in the first half of 2021 , an increase of 72.7 % from the same period of 2020. Of the total GWP facilitated in the first half of 2021 , first year premiums ( " FYP " ) accounted for RMB1.19 billion ( 57.9 % ) and renewal premiums accounted for RMB868.8 million ( 42.1 % ) . Operating revenue was RMB953.6 million ( US $ 147.7 million ) in the first half of 2021 , an increase of 97.1 % from RMB483.7 million in the same period of 2020. The increase in operating revenue was primarily driven by the 72.7 % increase in the total GWP facilitated . Operating costs Operating costs were RMB709.9 million ( US $ 109.9 million ) in the first half of 2021 , an increase of 145.5 % from RMB289.2 million in the same period of 2020. The increase was primarily due to the expansion of marketing channels to acquire user traffic . Operating expenses Selling expenses were RMB154.8 million ( US $ 24.0 million ) in the first half of 2021 , an increase of 53.1 % from RMB101.1 million in the same period of 2020. This increase was primarily due to an increase in headcount , as well as an increase in advertising and marketing expenses , offset by a decrease