Huize Holding Limited

Ladies and gentlemen, thank you for standing by and welcome to Hui Ze's third quarter 2024 earnings conference call. At this time, all participants are in the 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 on Hui Ze'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, Kuwait's Investor Relations Manager. Please go ahead, Kenny.

Thank you, operator. Hello, everyone, and welcome to our third quarter 2024 earnings conference call. Our financial and operational results were released earlier today and are currently available on both our website and global newswire services. Before we continue, I'd like to refer you to the safe hub statement in our earnings price release, which also applies to this call, as we will be making forward-looking statements. Please 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 Jing Ma, COO, Mr. Lee Yang, Co-CFO, Mr. Minghang Xiao, and Co-CFO, Mr. Ron Tam. Mr. Ma will start the call by providing an overview of the company's performance and operational highlights, followed by Mr. Tam, who will go over financial results for the quarter before we open up the call for questions. I will now turn the call over to Mr. Ma.

Hello, everyone. Welcome to the press conference of the third quarter of 2024. In the third quarter of 2024, with the emergence of the power of policy integration, the market is expected to boost confidence. Our country's macroeconomic situation is gradually improving. In September, the State Council released the new National Insurance Act, which is the direction of high-quality development of the insurance industry. The trend of the industry is to investigate the industry in detail. By actively adjusting product strategies, At the same time, the company has actively deployed itself in the overseas market for the past two years. This quarter, the company has achieved outstanding performance. In the third quarter, the total insurance fee for the entire platform reached 2.6 billion yuan, creating a new high in the total insurance fee for the company in the first quarter. The total profit reached 3.7 billion yuan, and the net profit reached 18.7 million yuan.