Shen Peng Awarded Charitable Entrepreneur of For Good Awards 2022

Rhea-AI Summary

Waterdrop Inc. announced that its Founder and CEO, Peng Shen, received the Top 10 Charitable Entrepreneurs award at the For Good Awards 2022 for his contributions to social enterprise.

Through its "Insurance + Healthcare" model, Waterdrop has facilitated over RMB55.4 billion in medical crowdfunding for critical illnesses, benefiting 2.69 million patients. The company’s charity initiatives have raised over RMB1 billion through 14,500 campaigns.

Waterdrop continues to focus on technological advancements to improve healthcare accessibility.

Positive

• Peng Shen awarded as a Top 10 Charitable Entrepreneur, enhancing company reputation.
• Waterdrop facilitated over RMB55.4 billion in medical crowdfunding, assisting millions.
• Company's charity initiatives raised over RMB1 billion, indicating strong social impact.

Negative

• None.

BEIJING, Dec. 19, 2022 /PRNewswire/ -- The annual conference of For Good Awards of China Social Enterprise and Impact Investment Forum declared the winners of For Good Awards 2022. Mr. Peng Shen, Founder and CEO of Waterdrop, was awarded one of the Top 10 Charitable Entrepreneurs of For Good Awards 2022.

For Good Awards 2022 is sponsored by Xiangguang Future, co-sponsored by Caixin Global and Cyzone, and organized by Shanda960.com as an annual public welfare award oriented to Chinese social enterprises, influential investment institutions, charitable commercial enterprises, charitable academic researchers, and industry promoters. It is the fifth session of the award this year.

Mr. Peng Shen led the company to create the "Insurance + Healthcare" model. Through the business combination of Waterdrop Insurance Marketplace, Waterdrop Medical Crowdfunding, and E-Find Patient recruitment, the company established a healthcare ecosystem for billions of users, played a complementary role in the construction of a multi-tiered medical-insurance system, and contributed to solving the problem of poverty because of illness.

As of September 30, 2022, more than 2.69 million patients with critical illness raised about RMB55.4 billion of medical funds through Waterdrop Medical Crowdfunding, and about 420 million users participated in donations, reflecting the concept of mutual help and loving care.

Founded by Waterdrop, Waterdrop Charity is one of the Internet public fundraising information platforms designated by the Ministry of Civil Affairs of China and provides comprehensive support for charitable organizations. Specifically, it has worked with more than 100 publicly offered foundations and launched 14,500 charity campaigns focusing on critical illness support, scholarship, poverty alleviation, and disaster relief., raising over RMB1 billion for charitable organizations.

As one of the Charitable Entrepreneurs of For Good Awards 2022, Peng Shen said that this honor is a recognition for himself and an affirmation for Waterdrop. With the original intention of developing technology for the good, the social enterprise hopes to bring insurance and healthcare services to billions through technology and enable its users to enjoy better diagnosis and treatment with lower costs. Over the past six years, all of Waterdrop's employees have made continuous efforts in this direction. In the future, we hope to work with more like-minded partners to make our world better.

About Waterdrop Inc.

Waterdrop Inc. (NYSE: WDH) is a leading technology platform dedicated to insurance and healthcare service with a positive social impact. Founded in 2016, with the comprehensive coverage of Waterdrop Insurance Marketplace and Waterdrop Medical Crowdfunding, Waterdrop aims to bring insurance and healthcare service to billions through technology. For more information, please visit www.waterdrop-inc.com.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about Waterdrop's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Waterdrop's filings with the SEC. All information provided in this press release is as of the date of this press release, and Waterdrop does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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SOURCE Waterdrop Inc.

FAQ

What is the significance of Peng Shen's award at the For Good Awards 2022 for Waterdrop (WDH)?

Peng Shen's award highlights Waterdrop's commitment to social impact and enhances its reputation as a leader in charitable initiatives.

How much has Waterdrop (WDH) raised through medical crowdfunding for critical illness?

As of September 30, 2022, Waterdrop has raised approximately RMB55.4 billion through medical crowdfunding.

What initiatives did Waterdrop (WDH) undertake to support charitable causes?

Waterdrop launched over 14,500 charity campaigns, focusing on critical illness support, and has raised more than RMB1 billion for charitable organizations.

What is the focus of Waterdrop's business model as announced in the press release?

Waterdrop operates on an 'Insurance + Healthcare' model, aiming to enhance healthcare access through technology.