Continued profitability and impressive growth of’s innovative businesses

Beijing, April 29, 2024 /PRNewswire/——Open April 25, 2024, Water Drop Company (“water droplets”, the “Company” or “we”) (NYSE: WDH), a leading technology platform dedicated to insurance and healthcare services with positive social impact, released its Form 20-F for the fiscal year ended 2019 annual report December 31, 2023. In 2023, the company’s net operating income will be 2.63 billion yuan Net profit is 167 million yuan, December 31, 2023, water droplets Consolidated cash and cash equivalents and short-term investments 3.393 billion yuanoperating cash flow is approximately 407 million yuan. Since the first quarter of 2022, the company has been profitable for eight consecutive quarters.The annual report discloses in more detail water droplets Operational in 2023.

In 2023, the company will continue to implement its share repurchase plan. And in the first quarter of 2024, water droplets Approximately 41.27 million American depositary shares (ADS) were collectively repurchased from the open market.exist March 2024our Board of Directors has also approved approx. US$15 million.

In 2023, first-year premiums (FYP) for our insurance arm, Waterdrop Insurance Marketplace, were 7.109 billion yuan.The total revenue of this segment reaches 2.34 billion yuan Operating profit is 528 million yuan. As of the end of 2023, the company has cooperated with 101 insurance companies to provide 115.3 million customers with 1,357 online insurance products, covering short-term, long-term health insurance, life insurance and other insurance types. Most products are bespoke products developed in partnership with insurance providers, designed to meet consumers' specific needs and supported by our strong data analytics and actuarial expertise.

In order to improve user experience, Waterdrop insurance market Introducing experienced insurance consultants to provide personalized one-on-one consulting services. Our advisors have extensive expertise in assessing individual client needs, providing tailored guidance, and assisting clients in selecting the best insurance solutions. Since the beginning of 2021, Waterdrop insurance market Proactively integrate online and offline insurance operations to enhance brokerage capabilities and improve customer experience.

To further fulfill our commitment to service excellence, Shuidi recently launched the “Triple Service Excellence” program, which focuses on providing excellent service, high-quality products and efficient claims handling. The initiative covers a full range of insurance services, covering policy planning, product customization and claims services, to streamline the insurance process and improve overall customer satisfaction.

exist June 2023, water droplets Acquired Shenlanbao, a domestic online insurance brokerage company known for providing insurance education, product reviews, one-on-one insurance planning and policy management services.This strategic acquisition will help water droplets Meet the needs of the vast insurance market and enhance long-term insurance sales capabilities.

at the same time, water droplets Remains committed to improving customer service and continuing to invest in technological innovation. We have developed and tested a large language model (LLM) called “ShuishouGPT”, which is in the testing stage and is suitable for a range of insurance business functions such as consulting, underwriting, claims processing and customer service. The new application has already significantly improved our operational efficiency and enhanced the robustness of the entire insurance service chain.

2023, water droplets Continue to fulfill its mission of providing emergency assistance through the Water Drop crowdfunding December 31, 2023approximately 450 million people contributed a total of approximately 62.6 billion yuan More than 3.1 million patients have been helped through this platform. In order to improve the service experience, we have also established online and offline consulting teams. As of the end of 2023, the offline consultation network has covered 225 cities in 30 provinces across the country, with extensive and effective service coverage.

The company is also involved in digital clinical trial solutions, covering Phase I to Phase III clinical trials in multiple treatment areas such as tumors, chronic diseases and some rare diseases. By 2023, we have partnered with 204 pharmaceutical companies and contract research organizations (CROs) to successfully enroll more than 3,300 patients in more than 500 clinical trial programs. The segment's annual revenue grew strongly at 69% 101 million yuan 2023.

In an earlier research note from Goldman Sachs, the investment bank maintained a “buy” rating water dropletsthe 12-month target price is $2.40showing its positive view on the company's prospects.

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