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Waterdrop Inc. Unveils 2024 Annual Report: A Look at the Future of Insurance and Healthcare

Waterdrop Inc., a frontrunner in technology-driven insurance and healthcare services, has released its 2024 annual report, showcasing an impressive financial turnaround and an unwavering commitment to innovation through artificial intelligence.

Financial Achievements

As of December 31, 2024, Waterdrop marked a net revenue of approximately RMB 2.772 billion, attaining a profit that surged by nearly 120% compared to the previous year. This profit trajectory demonstrates that Waterdrop has maintained profitability for 12 consecutive quarters. Investors have responded positively, with Waterdrop repurchasing around 52.1 million of its American Depositary Shares (ADS) for a total of $100 million.

These strong results have drawn positive feedback from top financial institutions such as Goldman Sachs, UOB Kay Hian, and Guotai Junan International, all of which affirmed their 'Buy' ratings. Market analysts predict a robust revenue growth of 20% for 2025, signalling significant confidence in Waterdrop’s operational strategies.

Expanded Insurance Business

Waterdrop's comprehensive insurance services also reported significant growth with first-year premiums reaching RMB 7.473 billion, contributing to annual revenue of RMB 2.36 billion. With an operational profit of RMB 477 million, the company has established itself as a trusted broker by partnering with 102 insurers and offering an extensive portfolio of nearly 2,000 insurance products tailored for diverse consumer needs. Waterdrop’s user base has grown to an impressive 117.3 million, optimally utilizing data analytics to enhance service delivery.

Pioneering Medical Crowdfunding Initiatives

In addition to its insurance sector, Waterdrop's Medical Crowdfunding platform has transformed the landscape of healthcare financing in China, facilitating donations for over 3.4 million patients with contributions exceeding RMB 67.5 billion. The platform gained recognition as one of the first approved online fundraising ventures by China’s Ministry of Civil Affairs—an endorsement that marks a significant milestone for Waterdrop.

Innovations in Clinical Trial Solutions

The organization’s digital clinical trial offerings also paved the way for growth, garnering approximately RMB 91.1 million in net revenue. By enrolling over 10,000 patients and completing over 1,200 clinical projects, Waterdrop continues to position itself at the forefront of tech-enabled healthcare innovation.

AI Integration Driving Efficiency

Waterdrop is at the helm of artificial intelligence implementation in the insurance sphere, investing near RMB 300 million annually in research and development, and acquiring over 100 patents. Key initiatives that leverage AI include:

• - AI Insurance Assistant: A versatile tool that bolsters sales processes and compliance supervision for agents.
• - AI Insurance Expert: This interactive customer engagement platform, known as ‘Bao Xiao Hui’, provides instant support for policyholders, dramatically reducing the time taken to resolve inquiries by 50%.

These tools have redefined customer service, ensuring that Waterdrop remains competitive while enhancing stakeholder value.

Future Strategies

Looking forward, the company’s founder and CEO, Mr. Peng Shen, outlined the 'All in AI' strategy for 2025, emphasizing the significant role of AI in boosting operational efficiency and promoting collaborative growth with partners. Shen stated, "AI has been instrumental in our 120% net profit surge this year. We are dedicated to refining our AI capabilities for the sustainable benefit of all stakeholders."

Conclusion

In conclusion, Waterdrop Inc. is strategically aligning its operations with cutting-edge technology and innovative service models to redefine insurance and healthcare accessibility. With a proven track record and ambitious future plans, Waterdrop aims to positively impact billions globally through its advanced technology offerings. For further insights, visit their official website at www.waterdrop-inc.com.