Huize Holding Limited

Ladies and gentlemen, thank you for standing by and welcome to the HOISA Holding Limited Third 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 replay will be available. please visit Hoyza's IR website at ir.huize.com under the events and webcast section. I'd now like to hand the conference over to your speaker host today, Mr. Kenny Lo, Hoyza's investor relations manager. Please go ahead.

Thank you, operator. Hello, everyone, and welcome to our earnings conference call for the third quarter of 2023. Our financial and operating results were released earlier today and are currently available on both our IR website and Newswire. Before we continue, I would like to refer you to the 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 horribly 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, co-CFO, Mr. Minghang Xiao, and co-CFO, Mr. Ronald Hamm. Mr. Ma will start the call by providing an overview of the company's performance and operating highlights for the first 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 the third quarter of the press conference of Huize in 2023. In the third quarter of 2023, the macroeconomic situation is gradually recovering. Economic activity is gradually getting better, but the challenge of international relations is still there. The capital market has been fluctuating and fluctuating from time to time. The insurance industry continues to deepen product structure adjustment and transformation. The rising asset price is mainly due to the decline of the stock market and the decline of the interest rate. and other continuous influences have caused the overall investment and revenue of the industry to be suppressed. In the first three seasons, the net profit of the human resources industry has also dropped significantly. The market is on the way to recovery, especially with a drop, but with a long-term trend. In the turbulent market, Huize continues to play a product innovation ability, adding online and offline customers and service capabilities to the entire channel, as well as the foundation of high-quality mass customers on the platform, In the third quarter, we continued to achieve stable results. The total net worth of RMB was 12.5 billion. The total revenue of RMB was 2.9 billion. The net profit of RMB was RMB20170,000. The net profit of RMB was 43%. The net profit of RMB was RMB18490,000. We achieved profit in four consecutive quarters.