Waterdrop Inc. Announces Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results and a Cash Dividend

Core Insights - Waterdrop Inc. reported outstanding financial results for Q4 and the full year of 2024, achieving a 119.8% year-on-year increase in net profit attributable to ordinary shareholders [3][15][20] - The company aims for faster growth in 2025 while enhancing its core competitiveness through technology [9] Financial and Operational Highlights for Q4 2024 - Net operating revenue increased by 4.2% year-over-year to RMB686.8 million (US$94.1 million) [9] - Operating costs and expenses rose by 0.2$86.8 million) [10] - Net profit attributable to ordinary shareholders reached RMB99.6 million (US$13.6 million), a 68.7$260.0 million), representing a 24.5% year-over-year increase [11] Business Segments Performance - The insurance business generated an FYP of RMB7,472.8 million (US$1,023.8 million) for the year, marking a 5.1$8.9 million) in Q4 2024 [12] - Digital clinical trial solution income grew by 22.9% year-over-year to RMB25.5 million (US$3.5 million) [6][12] Strategic Developments - Waterdrop Medical Crowdfunding was recognized as a pioneer in China's standardized medical crowdfunding sector [5] - The company integrated AI-driven models to enhance its insurance ecosystem, improving customer interactions [7] Cash Position and Shareholder Returns - As of December 31, 2024, the cash position was RMB3,670.3 million (US$502.8 million) [25] - The company announced a cash dividend of approximately US$7.3 million, with a share repurchase program totaling approximately US$103.7 million as of February 28, 2025 [8][22][21] Annual Financial Results for 2024 - Net operating revenue for the year increased by 5.4% year-over-year to RMB2,771.8 million (US$379.7 million) [17] - Operating costs and expenses decreased by 1.7$355.3 million) [18] - Net profit attributable to ordinary shareholders for the year was RMB367.5 million (US$50.3 million), compared to RMB167.2 million for 2023 [20]