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Waterdrop Inc. (NYSE: WDH) is a pioneering technology platform dedicated to insurance and healthcare services, delivering a significant social impact. Established in 2016, Waterdrop leverages advanced technology to provide comprehensive insurance solutions and medical crowdfunding services, aimed at bringing insurance and healthcare to billions. The platform's main components include the Waterdrop Insurance Marketplace and Waterdrop Medical Crowdfunding, offering a wide range of services to its users.
In recent financial highlights for the first quarter of 2024, Waterdrop reported impressive results, achieving a net profit attributable to ordinary shareholders of RMB 80.6 million, marking a 36.5% quarter-over-quarter growth. This denotes the ninth consecutive quarter of profitability. The company's operating revenue increased by 16.3% year-over-year to RMB 704.7 million, demonstrating robust growth and sustained operational efficiency.
The Waterdrop Insurance Marketplace continues to excel, with first-year premiums (FYPs) reaching RMB 1.755 billion. Notably, life insurance accounted for 56.4% of the long-term insurance product mix, underlining the company's strong presence in the insurance sector. Waterdrop's innovative use of AI technology, through its proprietary ShuishouGPT platform, has significantly enhanced its service offerings, providing autonomous user interactions and achieving over 90% accuracy in insurance-related inquiries.
Waterdrop Medical Crowdfunding upheld its mission of saving lives by raising RMB 63.8 billion for over 3.17 million patients. The platform's Guardian Program ensures the efficiency, security, and transparency of fundraising activities. Waterdrop's healthcare-related services have also seen substantial growth, with revenues of approximately RMB 25.3 million, representing a year-on-year growth of 7.3%.
In addition to its core businesses, Waterdrop has ventured into digital clinical trial solutions, partnering with numerous pharmaceutical companies and Contract Research Organizations (CROs). By the end of the first quarter of 2024, Waterdrop had collaborated with 179 pharmaceuticals and CROs, enrolling approximately 7,800 patients and signing 88 new projects.
Waterdrop's commitment to technological innovation, customer-centric approach, and robust financial performance underscore its position as a leader in the insurance and healthcare sectors. The company's strategic acquisitions, such as Shenlanbao, and its continuous investment in AI and big data technologies, highlight its dedication to providing high-quality, customized insurance and healthcare solutions.
Waterdrop Inc. (NYSE: WDH) reported strong Q2 2024 results, with net profit rising 306.9% year-on-year to RMB 88.3 million. The company's net operating revenue reached RMB 676 million, marking its tenth consecutive profitable quarter. Operating expenses decreased by 12 percentage points to 45.1% of revenue. Waterdrop announced a second special cash dividend of $7.5 million and approved a new $50 million share repurchase program.
The insurance business generated RMB 573.8 million in revenue and RMB 123 million in operating profit. The Medical Crowdfunding platform has raised RMB 65.1 billion for 3.25 million patients. The company is also investing in AI technology, piloting its 'Waterdrop Guardian' large language model in various insurance scenarios.
Waterdrop (NYSE: WDH) announced its unaudited financial results for Q2 2024 and a special cash dividend.
Highlights:
- Net profit attributable to ordinary shareholders reached RMB88.3 million, a 306.9% YoY growth.
- Despite industry challenges, the first-year premiums (FYP) dropped 19.0% YoY to RMB1,778.6 million.
- Net operating revenue decreased by 0.4% YoY to RMB676.2 million.
- Insurance operating profit margin increased from 16.7% to 21.4% YoY.
- Crowdfunding service fees increased by 55.2% YoY to RMB69.3 million.
- Healthcare-related income fell 17.0% YoY but grew 4.2% QoQ.
- Net operating costs and expenses decreased by 13.4% YoY.
- Board approved a new share repurchase program of up to US$50 million and a special cash dividend of US$0.02 per ADS.
- Cash and cash equivalents stood at RMB2,933.3 million as of June 30, 2024.
Waterdrop Inc. (NYSE: WDH), a leading technology platform for insurance and healthcare services, has announced it will report its unaudited financial results for the second quarter ended June 30, 2024, before U.S. markets open on September 4, 2024. The company will hold a conference call on the same day at 8:00 AM U.S. Eastern Time to discuss the financial results.
The earnings call will offer both Chinese and English interpretation lines, with the English line in listen-only mode. Participants are advised to dial in 15 minutes before the call starts. Telephone replays will be available until September 11, 2024. Additionally, live and archived webcasts of the conference call will be accessible on the company's investor relations website.
On June 5, 2024, Waterdrop (NYSE: WDH) reported Q1 2024 financial results. The company achieved revenue of RMB 704.7 million, a 16.3% year-on-year increase, and a net profit of RMB 80.6 million, up 62.2%. This marks nine consecutive profitable quarters. Operating expenses decreased to 46.4% of revenue. The insurance business saw a 13.1% increase in revenue to RMB 607 million, with life insurance representing 56.4% of the long-term product mix. Waterdrop Medical Crowdfunding raised RMB 63.8 billion, despite an operating loss of RMB 32.2 million. The company also saw 7.3% growth in healthcare-related services revenue, reaching RMB 25.3 million.
Waterdrop Inc. (NYSE: WDH) reported its unaudited financial results for Q1 2024. The company achieved a net profit of RMB80.6 million, a 36.5% growth quarter-over-quarter. Operating revenue increased by 16.3% year over year to RMB704.7 million. First-year premiums from insurance rose by 3.7% to RMB1,754.5 million, with life insurance products contributing 56.4% compared to 46.5% last year. The company also saw growth in its medical crowdfunding platform, accumulating RMB63.8 billion in donations. Operating expenses increased by 10.5% to RMB658.3 million, with notable rises in operating costs and sales and marketing expenses. However, general and administrative expenses decreased by 7.1%. The company's cash and equivalents stood at RMB3,484.4 million as of March 31, 2024.
Waterdrop's CEO highlighted the company's sustained profitability and strategic initiatives in the insurance and healthcare sectors. The company aims to enhance its digital clinical trial services and expand its market presence while maintaining a focus on core technology competitiveness. The press release emphasized the company's mission to provide customized, cost-effective products and services.
Waterdrop (NYSE: WDH) will release its Q1 2024 financial results on June 5, 2024, before U.S. markets open. The results pertain to the quarter ending March 31, 2024. A conference call to discuss these results will be held on the same day at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time). Dial-in details include numbers for international, U.S. toll-free, Hong Kong, and Mainland China participants, with options for Chinese and English lines. Replays will be available until June 12, 2024. Live and archived webcasts will be provided on Waterdrop's investor relations website.
Waterdrop Inc. released its 2023 annual report, showcasing sustained profitability and impressive growth in innovative businesses. The company recorded net operating revenue of RMB 2.63 billion, net profit of RMB 167 million, and operating cash flow of RMB 407 million. Waterdrop Insurance Marketplace reported a first-year premium of RMB 7.109 billion, collaborated with 101 insurance companies, and offered 1,357 online insurance products to 115.3 million customers. The company acquired Shenlanbao, developed a large language model 'ShuishouGPT', and ventured into digital clinical trial solutions, achieving 69% revenue growth in 2023.
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