Huize Holding Ltd. (HUIZ) stock prices were up by 15.55% shortly after market trading commenced on July 13th, 2021, bringing the price per share up to USD$6.02 early on in the trading day.
Partnership with Sungrow
July 13th, 2021 saw the company announce its partnership with Sungrow that will see the collaborative launch of immune cell cryopreservation as a value-added healthcare service offered to eligible insurance customers. Supported by BGI Cell, immune cell cryopreservation technology refers to the use of advanced biotechnology to extract immune cells from a healthy human body. The cells will be preserved at temperatures below negative 196 degrees Celsius, with the dormant cells able to be reactivated in the future. These cells will serve as valuable anti-aging, tissue regeneration, immune regulation, and other disease treatments.
Complementary Collaboration
The company is excited to have appointed Sungrow as its third-party administrator as it continues to execute its longer-term strategy of complementing insurance products with more value-added services. The company is keen to maximize the benefits to its users from the building of a more integrated insurance ecosystem.
Scope of Collaboration
The company has been offering high-quality insurance products with value-added services, such as increased accessibility of cancer screening and online medical consultation, in an effort to satisfy the growing user demand for diversified healthcare services since the beginning of the year. HUIZ believes these services over the course of the policy will result in increases in the core competitiveness of the platform within the marketplace, as well as facilitating the creation of longer-term engagements with users, thus maximizing their lifetime value.
Healthy Financials
The company reported a combined balance of USD$76 million in cash and cash equivalents as of March 31st, 2021. Net Profit for the first quarter of 2021 was up to USD$4.4 million from the USD$0.36 million in net loss reported for the prior-year quarter. Non-GAAP net profit for the 2021 quarter came in at USD$5.9 million, up from the USD$3.43 million reported for the first quarter of 2020.
Future Outlook for HUIZ
Armed with an expansive partnership with Sungrow, HUIZ is poised to capitalize on the opportunities afforded to it as it strives towards the proliferation of its technology throughout the global healthcare space. Current and potential investors are hopeful that the partnership will result in significant and sustained increases in shareholder value over the long term.
