Huize Holding Limited

Ladies and gentlemen, thank you for standing by, and welcome to WHOIS Holding Limited Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the management's prepared remarks, we will have a question-and-answer session. Today's conference call is being recorded, and a webcast reply will be available. Please visit whoisirvc.com. 100-day events and podcast section. I would like to end the conference over to your host today, Ms. Harriet Hu, who is Investor Relations Director. Please go ahead, Harriet.

Thank you, operator. Hello, everyone, and welcome to our earnings conference call for the second quarter of 2023. Our financial and operating results were released earlier today and are currently available on both our IR websites and the newsletter. Before we continue, I would like to refer you to the safe harbor statement in our earnings credit release, which also applies to this cost of making thorough looking statements. Please also note that we will discuss non-GAAP measures today, which are more thoroughly explained in our earnings release and followings with the ACP. Joining us today are our founder and CEO, Mr. Tanjin Ma, CEO of Mr. Lead Down. Co-DFO, Mr. Ming Panxiang, and Co-DFO, Mr. Ronald Hamm. Mr. Ma will start the call by providing an overview of the company's performance and operational highlights for the second quarter of 2023. And Mr. Hamm will then provide details on the financial results for the period before we open up the call for questions. I will now turn the call over to Mr. Ma.

Hello, everyone. Welcome to Huize's second quarter of 2023. In the second quarter of 2023, the macroeconomic economy will continue to recover. The insurance industry will develop more clearly. The consumer confidence index in the second quarter reached 68.2, which is higher than the same level as in 2021 and 2022. Huize has the opportunity to accelerate the growth of the market. With the advantage of long-term strategy, online and offline integrated business layout, and the leading product innovation and customer capacity in the industry. The second quarter, the whole platform raised the insurance fee to RMB 13.8 billion, which increased by 58% in total. The total profit was about RMB 3.7 billion, which increased by 48.3% in total. After adjusting the net profit to RMB 19.01 million, profit was achieved in three consecutive quarters.