Huize Holding Limited Regains Compliance with Nasdaq Minimum Bid Price Requirement
16 July 2024 - 8:00PM
Huize Holding Limited, (“Huize” or the “Company”) (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
it has received a notification letter (the “Compliance Notice”)
from the Listing Qualifications Department of the Nasdaq Stock
Market Inc. (“Nasdaq”) dated July 15, 2024, informing the Company
that it has regained compliance with Nasdaq Listing Rule 5450(a)(1)
(the “Minimum Bid Price Requirement”).
As previously announced, the Company was notified
by Nasdaq on January 5, 2024 that the Company was not in compliance
with the Minimum Bid Price Requirement, as the closing bid price of
the Company’s American depositary shares (“ADSs”) was below US$1.00
per share for 30 consecutive business days.
On July 15, 2024, Nasdaq confirmed in the
Compliance Notice that the closing bid price of the Company’s ADSs
has been at $1.00 per share or greater for 20 consecutive business
days, from June 13, 2024 to July 12, 2024. According to the
Compliance Notice, the Company has regained compliance with Listing
Rule 5450(a)(1), and the matter is closed.
About Huize Holding Limited
Huize Holding Limited is a leading insurance
technology 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.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Statements that are not historical facts, including
statements about Huize’s beliefs and expectations, are
forward-looking statements. These forward-looking statements can be
identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates,” “confident”
and similar statements. Among other things, business outlook and
quotations from management in this announcement, contain
forward-looking statements. Huize may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission (the “SEC”), in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: Huize’s goal and strategies; Huize’s expansion plans;
Huize’s future business development, financial condition and
results of operations; Huize’s expectation regarding the demand
for, and market acceptance of, its online insurance products;
Huize’s expectations regarding its relationship with insurer
partners and insurance clients and other parties it collaborates
with; general economic and business conditions; and assumptions
underlying or related to any of the foregoing.
Further information regarding these and other risks
is included in Huize’s filings with the SEC. All information
provided in this press release is as of the date of this press
release, and Huize does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please
contact:
Investor
Relationsinvestor@huize.com
Media
Relationsmediacenter@huize.com
Christensen
In ChinaMs. Yang SongPhone:
+86-10-5900-1548Email: yang.song@christensencomms.com
In U.S.Ms. Linda
BergkampPhone: +1-480-614-3004Email: linda.bergkamp@christensencomms.com
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