Huize Holding Limited

Thank you for standing by and welcome to RAISA Holding Limited's third quarter 2020 earnings call. At this time, all participants are in a listen-only mode. After the management has prepared remarks, we will have a question and answer session. Today's conference call is being recorded and a webcast replay will be available. Please visit RAISA's IR website at ir.rasa.com under the Events and Webcast section. Now I'd like to hand the conference over to our speaker host today, Ms. Harriet Hu, Ways and Venture Relations Director. Please go ahead, Harriet.

Thank you, Operator. Hello, everyone, and welcome to our third quarter 2020 earnings conference call. The financial and operating results were released earlier today and are currently available on our IR website as well as on Newswire. Before we continue, I would like to refer you to our safe harbor statement in our earnings press release, which also applies to this call, as we will be making forward-looking statements. Please also note that we will discuss non-GAAP measures today, which are more thoroughly explained in our earnings release and filings with the SEC. Joining us today are our founder and CEO, Mr. Chen Junma, COO, Mr. Li Jiang, and co-CFO, Mr. Ronald Chen. Mr. Ma will start the call by providing an overview of the company's performance and operational highlights for the third quarter of 2020. Mr. Chen will then provide details on the financial results for the period before we open up the call for questions. Now I will turn the call over to Mr. Ma.

I am the CEO of Huize, Ma Chengjun. Thank you for attending the third quarter of Huize 2020 press conference. Looking back at the third quarter, the domestic epidemic has also gradually disappeared. According to the data released by the National Security Bureau, the income of the people who can afford it is the same as that of the rich and the poor. Social security awareness has also been further improved. Consumers' acceptance of online insurance products has also continued to rise. In the context of economic recovery and industry rebound, will grasp the opportunity to go up in time. A unique and differentiated long-term strategy and advanced speed development concept realized the growth of total cost and income double. Created a new high in the quarter. In the third quarter, the platform produced a total cost increase of 41.2%. 41.2% reached RMB 7.79 billion. Total income increase of 22.9% to RMB 3.48 billion. Hello everyone, and thank you all for joining Hui Ze's third quarter 2020 earnings conference call. As China gradually recovers from the COVID-19 epidemic,