On June 20th, Huize announced the formal acquisition of Global Care Consulting Joint Stock Company ("Global Care"), a Vietnamese insurance technology company specializing in digital transformation solutions for the insurance industry. In 2023, the Global Care platform facilitated 13.5 million policies, with revenue increasing more than four-fold YoY, and registered users growing by over 1.3 million. According to the transaction documents, Huize will complete the acquisition of the controlling stake in Global Care in multiple stages through its newly established international branch Poni Insurtech, by purchasing existing shares and subscribing for new shares. At the same time, VinaCapital Group, Vietnam's leading investment management company with assets under management of USD 4 billion, will obtain newly issued Huize shares as partial consideration through its technology investment platform VinaCapital Ventures. This acquisition marks Huize's entry into its second international market, and accelerates its mission to build a pan-Asian digital insurance distribution platform under its international brand Poni Insurtech. Tan Guohao, Huize's joint CFO and head of its international business, said: "Vietnam is a highly attractive emerging insurance market with 100 million young and highly digitized populations, boasting macroeconomic conditions and foreign direct investment inflows that can drive strong GDP growth over the next decade. This acquisition is expected to generate significant synergies, and Huize will leverage its technology infrastructure and AI solutions, as well as its partnerships with global leading insurance brands, to accelerate the development of new products for Global Care and drive significant market share growth. We are also delighted to have VinaCapital as a strategic shareholder in Huize through this transaction, and with VinaCapital's extensive resources and network in Vietnam, we are confident in further driving cooperation opportunities in the local market."