China based Huize Holding Limited (NASDAQ:HUIZ) has had a pretty tough time in the markets over the course of the past week and has seen its stock decline by as much as 21% as a consequence.
The company is involved in providing insurance products digitally and also operates a platform that is meant for the younger generation of people in China. Yesterday, the company was in the news after it announced that it inked a new partnership with Sun Life Everbright Life Insurance Company in relation to a new initiative.
By way of this new partnership, Huize is looking to launch a new product named Everbright Smart Choice. This particular product is a retirement annuity insurance scheme which can be customised by the customer as per his needs. The product is designed in such a way that it can fulfil a range of needs to customers starting from lifetime pension to wealth creation.
However, the possible introduction of a new product in partnership with Everbright did not seem to make much of a dent in the sentiments of investors with regards to the Huize Holding stock. However, investors could still consider keeping the stock in their watch lists.