Waterdrop(WDH) Prnewswire·2024-12-11 10:20Financial Performance - Net profit attributable to ordinary shareholders reached RMB92.8 million in Q3 2024, a year-over-year growth of 152.6% [2] - Net operating revenue increased by 2.6% year-over-year to RMB704.1 million in Q3 2024 [2] - Adjusted net profit attributable to ordinary shareholders (non-GAAP) was RMB126.0 million in Q3 2024, up from RMB74.3 million in the same period of 2023 [6] Insurance Business - First-year premiums (FYP) generated through the insurance business amounted to RMB2,041.8 million in Q3 2024, representing a 20.4% year-over-year increase [2] - Insurance-related income was RMB600.7 million in Q3 2024, a 3.0% year-over-year decrease, mainly due to a decline in technical service income [4] - The insurance business maintained an operating profit margin above 20% in Q3 2024 [2] Crowdfunding and Digital Clinical Trials - Cumulative donations through Waterdrop Medical Crowdfunding reached RMB66.3 billion, benefiting 3.32 million patients as of September 30, 2024 [2] - Crowdfunding service fees increased by 83.0% year-over-year to RMB65.8 million in Q3 2024 [4] - Digital clinical trial solution income grew by 17.4% quarter-over-quarter to RMB24.3 million in Q3 2024 [3] AI and Technology Initiatives - The 'AI Consultant' conversational AI agent generated million yuan in monthly premiums by serving user inquiries [3] - The 'AI Service Quality Agent' was deployed to streamline service quality inspections, replacing manual work [3] - The 'AI Top Sales Platform 3.0' was launched, customizing AI sales agents for businesses, with pilots initiated in insurance and non-insurance sectors [3] Operational Highlights - The company enrolled over 9,500 patients into 1,137 clinical trial programs through the E-Find Platform as of September 30, 2024 [2] - Collaborated with 184 pharmaceutical companies and contract research organizations (CROs) in Q3 2024 [3] - Cumulative repurchase of approximately 50.9 million ADSs from the open market by the end of November 2024 [3] Regulatory and Industry Developments - The 'Measures for Administration of Online Service Platforms for Individuals Seeking Financial Help' was issued on September 5, 2024, providing a legal framework for the fundraising sector [3] - The company's digital clinical trial solution income continued to grow, reflecting the industry's increasing reliance on technology for patient recruitment [3]