Waterdrop Inc. Releases 2024 Annual Report: AI-Enabled Efficiencies Drive Business Growth

BEIJING,April 30, 2025/PRNewswire/ -- Waterdrop Inc. ("Waterdrop", the"Company"or"we") (NYSE: WDH), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced the filing of its annual report for the fiscal year endedDecember 31, 2024with the U.S. Securities and Exchange Commission (SEC). For the year, the Company reported net revenue ofRMB 2.772 billionand net profit attributable to shareholders ofRMB 368 million, representing a 119.8% year-on-year increase. This achievement extends the company's streak of profitability to 12 consecutive quarters. As of the end ofFebruary 2025, Waterdrop had repurchased approximately 52.1 million American Depositary Shares (ADS) for an aggregate consideration ofUS$100 millionunder its share buyback program.

Leading financial institutions, includingGoldman Sachs,UOB Kay Hian, and Guotai Junan International, have reaffirmed their Buy ratings for Waterdrop, citing improved operational leverage and margin expansion supported by the Company's proprietary technology infrastructure. Analysts project 2025 revenue growth of 20% and have revised their 12-month price targets upward, reflecting strong market confidence in the Company's strategic execution..

Key Business Highlights from the 2024 Annual Report:

  • Insurance Business:Waterdrop's insurance business reported first-year premiums ofRMB 7.473 billion, generating annual revenue ofRMB 2.36 billionand an operating profit ofRMB 477 million. Licensed nationwide as an insurance broker, Waterdrop Insurance Marketplace established partnerships with 102 insurers and offers a portfolio of 1,967 insurance products online designed to address a broad range of consumer needs. The online platform serves a user base of 117.3 million, leveraging data analytics and actuarial modeling to deliver insurance solutions with most of them are customized ones.
  • Medical Crowdfunding Platform:As ofDecember 31,2024, Waterdrop's Medical Crowdfunding platform had facilitated donations for over 3.4 million patients acrossChina'smulti-tiered healthcare system, with 470 million donors contributingRMB 67.5 billion. In a milestone achievement, the platform was named among the first government-approved online personal fundraising platforms byChina'sMinistry of Civil Affairs inDecember 2024.
  • Digital Clinical Trial Solutions:Waterdrop's digital clinical trial solutions segment reportedRMB 91.1 millionin 2024 net revenue. As ofDecember 31, the Company enrolled 10,395 patients and completed 1,212 clinical trial projects, reinforcing its position in tech-enabled healthcare innovation.

Waterdrop has emerged as an industry leader in AI adoption, investing nearlyRMB 300 millionannually in R&D and securing over 100 technology patents. The Company has integrated large language models into critical workflows including underwriting, renewals, claims management, and customer service. Key initiatives include:

  • AI Insurance Assistant:A productivity tool supporting sales enablement and compliance oversight for licensed agents.
  • AI Insurance Expert:An intelligent customer engagement solution poweringBao Xiao Hui, the Company's chatbot, which delivers 24/7 policyholder support and has reduced average query resolution time by 50%. The AI-driven quality assurance system now provides full coverage across all service channels, including voice, WeChat, and social platforms.

Mr.Peng Shen, Founder, Chairman, and CEO of Waterdrop, announced the Company's ambitious'All in AI'strategy for 2025, highlighting AI's role in driving efficiency and fostering collaborative growth with partners."AI has been instrumental in our 120% net profit surge this year,"Shen noted."We will continue refining our AI capabilities to deliver sustainable value for all stakeholders."

About Waterdrop Inc.

Waterdrop Inc. (NYSE: WDH) is a leading technology platform dedicated to insurance and healthcare service with a positive social impact. Founded in 2016, with the comprehensive coverage of Waterdrop Insurance Marketplace and Waterdrop Medical Crowdfunding, Waterdrop aims to bring insurance and healthcare service to billions through technology. For more information, please visitwww.waterdrop-inc.com.  

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SOURCE Waterdrop Inc.