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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) filed its annual report on Form 20-F for the fiscal year ended December 31, 2021, with the SEC on April 28, 2022. The report includes audited consolidated financial statements and is available on the Company's investor relations website and the SEC's site. Shareholders can request a hard copy of the report free of charge. Waterdrop is a technology platform focused on insurance and healthcare services aimed at making healthcare accessible through technology.
Waterdrop Inc. (NYSE: WDH) reported its financial results for Q4 and fiscal year 2021, highlighting a 13.4% increase in first-year premiums to RMB16,363 million ($2,568 million). The company achieved an adjusted net profit of RMB5.9 million ($0.9 million), significantly reducing its net loss margin to negative 11.8%. Operating revenue for Q4 decreased by 27.3% year-over-year to RMB603.9 million ($94.8 million), driven by a decline in insurance-related income. Despite challenges, Waterdrop aims for non-GAAP operating profit in 2022.
Waterdrop Inc. (NYSE: WDH) will release its unaudited financial results for Q4 and fiscal year 2021 on March 23, 2022, before the U.S. market opens. The management will host a conference call on the same day at 8:00 AM Eastern Time to discuss these results. Interested parties can access the call through provided dial-in numbers, and a live webcast will also be available on the company's investor relations website. Waterdrop aims to leverage technology in insurance and healthcare services, having launched in 2016.
Waterdrop announced its unaudited financial results for Q3 2021, reporting a 37.5% year-over-year increase in first-year premiums (RMB14,464 million, US$2,245 million). However, net operating revenue fell by 9.7% to RMB779.3 million (US$120.9 million), driven by a 9.4% decrease in insurance-related income. Operating expenses increased 31.5% year-over-year to RMB1,292.3 million (US$200.6 million). Net loss attributable to the Company was RMB477.0 million (US$74.0 million), a loss increase of 242.6% compared to the same period last year, but improved by 27.3% sequentially.
Waterdrop Inc. (NYSE: WDH) will announce its unaudited financial results for Q3 2021 on November 30, 2021, before U.S. market opening. A conference call is scheduled for 7:00 AM ET to discuss the results, with dial-in information provided for participants from various regions. The company emphasizes its dedication to providing insurance and healthcare services with a positive social impact, aiming to reach billions through technology.
Glancy Prongay & Murray LLP announces that investors with significant losses from Waterdrop's May 2021 IPO have the opportunity to lead a securities fraud class action lawsuit against the company (NYSE: WDH). The lawsuit alleges Waterdrop misrepresented its business and financial health, claiming its historical revenue growth was achieved through illicit practices and that the Chinese government ordered a shutdown of its mutual aid platform. The deadline for lead plaintiff applications is November 15, 2021.
Waterdrop Inc. (NYSE: WDH) has solidified its leading position in the growing Huiminbao health insurance product market in China, aimed at offering affordable healthcare to underserved populations. Recent expansions in cities like Beijing, Zibo, and Dezhou have resulted in significant customer enrollment, including over 3 million insured in Beijing alone. The products feature low premiums and high coverage, ensuring accessibility for middle and low-income residents. Waterdrop further enhances its ecosystem through comprehensive services in medical crowdfunding and insurance marketplace.
Investors in Waterdrop Inc. (NYSE: WDH) can lead a securities class action lawsuit due to significant losses following the company's May 2021 IPO. Allegations include failures to disclose illicit revenue growth methods, a government order to shut down its mutual aid platform, and ongoing investigations for regulatory violations. Furthermore, the company's operating losses surged over four-fold in Q1 2021, increasing financial strain. The lead plaintiff deadline is set for November 15, 2021. Investors are encouraged to contact the Law Offices of Howard G. Smith for legal consultation.
Waterdrop Inc. (NYSE: WDH) reported strong growth for Q2 2021, with first-year premiums reaching RMB5.36 billion (US$829.6 million), a 94.1% increase year-over-year. The company served 4.2 million insurance customers, a 53% rise, totaling 102.1 million cumulative customers. Net operating revenue rose 38% to RMB939.4 million (US$145.5 million). However, the company faced a significant operating loss of RMB815.4 million (US$126.3 million). A share repurchase program of up to US$50 million has been authorized, reflecting confidence in long-term value. Q3 FYP is expected between RMB4.3 to RMB4.6 billion.
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