Waterdrop Inc. Announces First Quarter 2025 Unaudited Financial Results

Core Viewpoint - Waterdrop Inc. reported strong financial and operational growth in the first quarter of 2025, with significant increases in revenue and profit compared to previous periods [3][10]. Financial and Operational Highlights - Net operating revenue for Q1 2025 increased by 7.0% year-over-year to RMB 753.7 million (US$ 103.9 million) and by 9.7% quarter-over-quarter [9]. - Net profit attributable to ordinary shareholders reached RMB 108.2 million (US$ 14.9 million), marking a 34.2% year-over-year increase [10][15]. - First-year premiums generated through the insurance business reached RMB 2,092.4 million (US$ 288.3 million), representing a 19.3% year-over-year increase [10]. - Insurance-related income amounted to RMB 658.0 million (US$ 90.7 million), an increase of 8.4% year-over-year [11]. - Digital clinical trial solution income grew by 11.5% year-over-year to RMB 23.0 million (US$ 3.2 million) [12]. Insurance Business Performance - The insurance business saw a 30.1% year-over-year increase in short-term insurance premiums [4]. - Long-term insurance premiums grew by 27.6% quarter-over-quarter, indicating operational resilience despite product iteration challenges [4]. Crowdfunding and Risk Management - Waterdrop Medical Crowdfunding expanded its verification platform to cover 92% of domestic cities, enhancing risk control and campaign validation processes [5]. - Cumulatively, around 475 million people donated an aggregate of RMB 68.8 billion to 3.47 million patients through the crowdfunding platform [10]. AI and Technology Integration - The penetration of 'AI Insurance Expert - Medical Insurance' facilitated over RMB 2 million in monthly premiums [7]. - The 'AI Service Quality Copilot' improved unit operational efficiency by 83% since its launch [7]. Shareholder Value and Cash Position - The company distributed approximately US$ 7.3 million in cash dividends and repurchased around 54.2 million ADSs for a total consideration of approximately US$ 106.6 million as of May 31, 2025 [8][18]. - As of March 31, 2025, the cash position was RMB 3,543.3 million (US$ 488.3 million) [17].