HomeFinancial MarketsHere is why Huize Holding Limited (HUIZ) stock performed well on Tuesday?

Here is why Huize Holding Limited (HUIZ) stock performed well on Tuesday?

Huize Holding Limited (HUIZ) shares gained 4.48% in after-hours on Tuesday, August 24, 2021, and closed the daily trading at $2.80. In the regular trading session of Tuesday, HUIZ’s stock surged 5.10%. The stock volume remained 1.51 million shares, which was higher than the average daily volume of 0.5 million shares within the past 50 days. HUIZ shares have fallen 68.80% over the last 12 months, and they have moved up 14.04% in the past week. Over the past three months, the stock has lost 55.48%, while over the past six months, it has declined 74.16%.

Let’s see what’s going on with HUIZ?


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HUIZ acquiring Shengs Life & General

On Aug. 24, 2021, Huize Holding Limited (HUIZ), entered into a binding memorandum of understanding to acquire a controlling equity interest in Hubei Shengs Life & General Insurance Agency Co., Ltd. (Shengs Life & General) which is one of the leading regional insurance agency groups dedicated to distributing life and health insurance products.

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HUIZ collaboration with Sun Life Everbright Life Insurance

On August 18, 2021, Huize Holding Limited (HUIZ) announced a partnership with Sun Life Everbright Life Insurance Company to launch “Everbright Smart Choice”, a customized retirement annuity insurance product dedicated to meet customers’ multi-dimensional needs for both wealth accumulation and lifetime pension benefits.

HUIZ Management Share Purchasing

On August 17, 2021, Huize Holding Limited (HUIZ) approved the Management Share Purchase Plan, according to which Mr. Cunjun Ma, the Company’s Chairman of the Board and Chief Executive Officer, and certain other members of the Company’s management team intend to allocate their funds to purchase up to an aggregate of US$5 million worth of the Company’s ADSs during six months.

HUIZ Partnership with Sungrow

On July 13, 2021, Huize Holding Limited (HUIZ) collaborated with Sungrow to launch immune cell cryopreservation as value-added healthcare service for eligible insurance customers.

The immune cell cryopreservation technology is supported by BGI Cell and refers to the use of advanced biotechnology to extract immune cells from a healthy human body to be preserved at temperatures below −196°C. These dormant cells can be reactivated in the future and are valuable for anti-aging, tissue regeneration, immune regulation, and other disease treatments.

HUIZ launched a new product

On June 18, 2021, Huize Holding Limited partnered with Sunshine Insurance Group to launch “Darwin Critical Care 2021,” a critical illness insurance product designed for sub-optimal health groups.

Darwin Critical Care 2021 provides insurance coverage for consumers with more than 20 high-risk diseases including diabetes, hepatitis B, hypertension, hyperlipidemia, and breast nodules.

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Conclusion

The recent acquisition of Shengs Life & General was the reason behind its exceptional performance on Tuesday. There are other recent positive developments so we can expect it to continue its positivity in the coming trading sessions.

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