Waterdrop(WDH) - 2024 Q3 - Quarterly Report

Financial Performance - Net profit attributable to ordinary shareholders for Q3 2024 reached RMB 92.8 million (US$13.2 million), a year-over-year increase of 152.6$ 100.3 million) from RMB 686.5 million in Q3 2023[11] - Operating profit for Q3 2024 was RMB 26.5 million (US$3.8 million), compared to an operating loss of RMB 2.1 million in Q3 2023[14] - The net profit for the nine months ended September 30, 2024, was RMB 259,416 thousand, an increase of 140.5$ 290.9 million), representing a year-over-year growth of 20.4%[10] - Crowdfunding service fees increased by 83.0% year over year to RMB 65.8 million (US$9.4 million) in Q3 2024[12] - Digital clinical trial solution income grew by 17.4$ 3.5 million)[7][12] - The insurance segment generated operating revenue of RMB 600,726 thousand for the three months ended September 30, 2024, representing a 3.3% decrease from RMB 619,269 thousand in the prior year[23] Cash and Assets - Cash position as of September 30, 2024, was RMB 3,440.1 million (US$490.2 million), down from RMB 3,571.6 million at the end of 2023[17] - Cash and cash equivalents increased to RMB 442,145 thousand as of September 30, 2024, up from RMB 396,905 thousand as of December 31, 2023[34] - Total current assets decreased to RMB 4,409,038 thousand as of September 30, 2024, from RMB 5,426,445 thousand as of December 31, 2023[34] - The company’s total liabilities increased to RMB 1,516,916 thousand as of September 30, 2024, compared to RMB 1,470,209 thousand as of December 31, 2023[34] Research and Development - Research and development expenses decreased by 28.4$ 7.5 million) in Q3 2024[20] - Research and development expenses for the three months ended September 30, 2024, were RMB 52,951 thousand, down 0.7% from RMB 53,300 thousand in the previous quarter[36] Shareholder Information - The company had cumulatively repurchased approximately 50.9 million ADSs for a total consideration of approximately US$ 102.3 million as of November 30, 2024[18] - Basic net profit per share attributable to ordinary shareholders for the three months ended September 30, 2024, was RMB 0.03, compared to RMB 0.02 in the previous quarter[36] - The weighted average number of ordinary shares used in computing net profit per share for the three months ended September 30, 2024, was 3,624,431,887[36] Other Income and Expenses - Total other income for the three months ended September 30, 2024, was RMB 60,842 thousand, an increase of 64.8% from RMB 36,914 thousand in the prior year[23] - Interest income for the three months ended September 30, 2024, was RMB 36,005 thousand, a slight decrease from RMB 37,510 thousand in the previous quarter[36] Future Engagement - The company plans to hold a conference call on December 11, 2024, to discuss financial results, indicating ongoing engagement with investors[29]