BEIJING, Dec. 12,
2024 /PRNewswire/ -- On December 11, 2024, Waterdrop Inc. (NYSE: WDH), a
leading technology platform dedicated to insurance and healthcare
services with a positive social impact, unveiled its unaudited
financial results for the third quarter of 2024 ended September 30, 2024. During the quarter, Waterdrop
reported net operating revenue of RMB 704.1
million. Net profit attributable to ordinary shareholders
totaled RMB 92.8 million, up 152.6%
from the previous year, sustaining profitability for the eleventh
consecutive quarter. Operating expenses, including sales,
administrative, and R&D costs, accounted for 47.9% of revenue,
a decrease of 6.9 percentage points year-on-year.
Since announcing its first share repurchase program in
September 2021, as of September 2024, Waterdrop has repurchased
approximately 50.9 million American Depositary Shares (ADSs) from
the open market.
Mr. Peng Shen, Founder, Chairman,
and Chief Executive Officer of Waterdrop, commented, "We are
delighted to announce another quarter of robust profitability, with
net profit attributable to ordinary shareholders reaching 2.5 times
that of the third quarter last year.
Insurance Business Operating Profit Totaled RMB 123 Million
Waterdrop's insurance-related revenue amounted to RMB 600.7 million in the third quarter of 2024.
The insurance business operating profit reached RMB 123 million in Q3 2024. First-year premiums
(FYPs) generated by insurance business amounted to RMB 2,041.8 million, representing an increase of
20.4% year over year.
After introducing the "Three Good Services" of good service,
good products, and good claims in April this year, on September
11th,Waterdrop Insurance Marketplace, in collaboration with 14
insurance companies, established the "Three Good Services Alliance"
and launched the first batch of "Public Review Panels,"
constructing a new user-centric ecosystem for insurance
services.
AI Consultant, a conversational AI agent powered by "Waterdrop
Guardian" large language model, has reached the capacity to
generate million yuan in monthly premiums by serving user inquires.
Meanwhile, a new application, "AI Service Quality Agent", was
deployed to streamline the service quality inspection process by
replacing manual work. Externally, a conversational AI platform
that customizes AI sales agents for businesses, and have initiated
pilots with insurance carriers and companies in non-insurance
sectors.
Waterdrop Medical Crowdfunding Raised RMB 66.3 Billion for 3.32 Million
Patients
During the quarter, Waterdrop Medical Crowdfunding upheld its
mission of "saving lives" with remarkable success. As of
September 30, 2024, around 466
million people cumulatively donated an aggregate of RMB 66.3 billion to 3.32 million patients through
Waterdrop Medical Crowdfunding. Despite recording an operating loss
of approximately RMB 17.9 million,
the losses have narrowed compared to previous periods.
Waterdrop's Digital Clinical Trial Solution has maintained its
growth in the third quarter of 2024, generating revenues of
approximately RMB 24.3 million. As of
September 30, 2024, the Company had
cumulatively enrolled over 9,500 patients into 1,137 clinical trial
programs through the E-Find Platform.
Shen Peng, Founder and CEO of
Waterdrop, said, "This quarter, Waterdrop remained user-centric and
explored innovations powered by Large Language Models to boost
business growth, while also demonstrating resilient performance
across our businesses. Moving forward, we will continue to build
core capabilities and drive high-quality business growth by
leveraging advanced technologies. We are committed to creating
greater value for society and adhering to our mission: at
Waterdrop, we aspire to bring insurance and healthcare services to
billions through technology."
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SOURCE Waterdrop Inc.