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Waterdrop Inc. Announces Third Quarter 2024 Unaudited Financial Results

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BEIJING, Dec. 11, 2024 /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 its unaudited financial results for the three and nine months ended September 30, 2024.

Financial and Operational Highlights for the Third Quarter of 2024

Marked improvement in profitability and healthy liquidity: In the third quarter of 2024, net profit attributable to our ordinary shareholders reached RMB92.8 million, representing a year-over-year growth of 152.6%. As of September 30, 2024, we continued to generate positive operating cash flow during the third quarter of 2024.Strong business performance: For the third quarter of 2024, the first-year premiums (“FYP”) generated through our insurance business amounted to RMB2,041.8 million (US$290.9 million), representing an increase of 20.4% year over year. Net operating revenue was RMB704.1 million (US$100.3 million), representing an increase of 2.6% year over year.Expanded crowdfunding coverage: As of September 30, 2024, around 466 million people cumulatively had donated an aggregate of RMB66.3 billion to 3.32 million patients through Waterdrop Medical Crowdfunding.Dependable performance in patient recruitment: As of September 30, 2024, the Company had cumulatively enrolled over 9,500 patients into 1,137 clinical trial programs through the E-Find Platform.

Mr. Peng Shen, Founder, Chairman, and Chief Executive Officer of Waterdrop, commented, “We are delighted to announce another quarter of robust profitability, with net profit attributable to ordinary shareholders reaching 2.5 times that of the third quarter last year.

Our insurance business has achieved a 14.8% quarter-over-quarter growth in FYP and maintained an operating profit margin above 20%. We delivered solid FYP growth in both short-term and long-term insurance, driven by user acquisition, innovative tailor-made products, and the contribution of Shenlanbao. I believe with our data-driven user insights, unique product offerings, and diversified distribution channels, we are well-positioned to maintain a strong competitive advantage.

This quarter marks a significant milestone for our medical crowdfunding business and the industry as a whole, following the issuance of the ‘Measures for Administration of Online Service Platforms for Individuals Seeking Financial Help’ released by Ministry of Civil Affairs of PRC and other government departments on September 5, 2024. The Measures for Administration officially announce the legal framework of fundraising sector, and offer guidance on management and information transparency.

During this quarter, our digital clinical trial solution income continued its growth, realizing a quarter-over-quarter increase of 17.4%. We collaborated with a total of 184 pharmaceutical companies and contract research organizations (“CROs”). Moreover, we enrolled 909 patients and initiated services for 88 new programs during the third quarter of 2024.

We are also delighted to report notable progress in AI. Internally, ‘AI Consultant’, a conversational AI agent powered by our ‘Waterdrop Guardian’ large language model, has reached the capacity to generate million yuan in monthly premiums by serving user inquires. Meanwhile, a new application, ‘AI Service Quality Agent’, was deployed to streamline the service quality inspection process by replacing manual work. Externally, we launched ‘AI Top Sales Platform 3.0’, a conversational AI platform that customizes AI sales agents for businesses, and have initiated pilots with insurance carriers and companies in non-insurance sectors.

We value the trust from our investors and prioritize shareholder returns. By the end of November 2024, the Company had cumulatively repurchased approximately 50.9 million ADSs from the open market. Moreover, we recently completed our second special cash dividend of approximately US$7.3 million.

With our strong execution capability, ample cash reserves and continuous profitability, we will continue to focus on fostering sustainable growth, and strive to deliver substantial returns to our shareholders and investors.”

Financial Results for the Third Quarter of 2024

Operating revenue, net

Net operating revenue for the third quarter of 2024 increased by 2.6% year over year to RMB704.1 million (US$100.3 million) from RMB686.5 million for the same period of 2023. On a quarter-over-quarter basis, net operating revenue increased by 4.1%.

Insurance-related income includes insurance brokerage income and technical service income. Insurance brokerage income represents brokerage commissions earned from insurance companies. Technical service income is derived from providing technical services including customer relationship maintenance, customer complaint management, claim review, and user referral services, among other things, to insurance companies, insurance brokers, and agency companies. Our insurance-related income amounted to RMB600.7 million (US$85.6 million) in the third quarter of 2024, representing a decrease of 3.0% year over year from RMB619.3 million for the third quarter of 2023, which was mainly due to the decrease in technical service income. On a quarter-over-quarter basis, insurance-related income increased by 4.7%.Crowdfunding service fees represent the service income earned when patients successfully withdraw the proceeds from their crowdfunding campaigns. Our role is to operate the Waterdrop Medical Crowdfunding platform to provide crowdfunding related services through the internet, enabling patients with significant medical bills to seek help from caring hearts through technology (the “medical crowdfunding services”). Our medical crowdfunding services generally consist of providing technical and internet support, managing, reviewing and supervising the crowdfunding campaigns, providing comprehensive risk management and anti-fraud measures, and facilitating the collection and transfer of the funds. For the third quarter of 2024, we generated RMB65.8 million (US$9.4 million) in service fees, representing an increase of 83.0% year over year from RMB36.0 million for the third quarter of 2023. On a quarter-over-quarter basis, crowdfunding service fees decreased by 5.0%.Digital clinical trial solution income represents the service income earned from our customers mainly including biopharmaceutical companies and leading biotechnology companies. We match qualified and suitable patients for enrollment in clinical trials for our customers and generate digital clinical trial solution revenue for successful matches and we typically charge our customers a fixed unit price per successful match. For the third quarter of 2024, our digital clinical trial solution income amounted to RMB24.3 million (US$3.5 million), representing a decrease of 12.1% from RMB27.6 million in the same period of 2023. On a quarter-over-quarter basis, digital clinical trial solution income increased by 17.4%.

Operating costs and expenses

Operating costs and expenses decreased by 1.6% year over year to RMB677.7 million (US$96.6 million) for the third quarter of 2024. On a quarter-over-quarter basis, operating costs and expenses increased by 8.6%.

Operating costs increased by 9.1% year over year to RMB340.6 million (US$48.5 million) for the third quarter of 2024, as compared with RMB312.3 million for the third quarter of 2023, which was primarily driven by (i) an increase of RMB46.5 million in costs of referral and service fees, partially offset by (ii) a decrease of RMB10.0 million in personnel costs, and (iii) a decrease of RMB7.0 million in the costs for crowdfunding consultants team. On a quarter-over-quarter basis, operating costs increased by 6.7% from RMB319.1 million, primarily due to (i) an increase of RMB32.6 million in costs of referral and service fees, partially offset by (ii) a decrease of RMB8.9 million in personnel costs, and (iii) a decrease of RMB5.1 million in the costs for crowdfunding consultants team.Sales and marketing expenses decreased by 7.7% year over year to RMB173.2 million (US$24.7 million) for the third quarter of 2024, as compared with RMB187.7 million for the same quarter of 2023. The decrease was primarily due to (i) a decrease of RMB36.5 million in personnel costs and share-based compensation expenses, partially offset by (ii) an increase of RMB21.1 million in marketing expenses to third-party traffic channels. On a quarter-over-quarter basis, sales and marketing expenses increased by 10.0% from RMB157.4 million, primarily due to (i) an increase of RMB14.4 million in marketing expenses to third-party traffic channels, (ii) an increase of RMB4.5 million in outsourced sales and marketing service fees to third parties, and partially offset by (iii) a decrease of RMB3.1 million in sales and marketing personnel costs and share-based compensation expensesGeneral and administrative expenses decreased by 3.2% year over year to RMB111.0 million (US$15.8 million) for the third quarter of 2024, compared with RMB114.6 million for the same quarter of 2023. The year-over-year variance was due to (i) a decrease of RMB24.8 million in professional service fees, (ii) a decrease of RMB5.8 million in personnel costs and share-based compensation expenses, partially offset by (iii) an increase of RMB10.6 million in allowance for doubtful accounts, and (iv) an increase of RMB20.6 million impairment loss for intangible assets related to the acquisition of Shenzhen Cunzhen Qiushi Technology Co., Ltd. and its subsidiaries (“Shenlanbao”). On a quarter-over-quarter basis, general and administrative expenses increased by 18.1% from RMB94.0 million, due to (i) an increase of RMB20.6 million impairment loss for intangible assets related to the acquisition of Shenlanbao, (ii) an increase of RMB6.9 million in personnel costs and share-based compensation expenses, partially offset by (iii) a decrease of RMB6.8 million in professional service fees, and (iv) a decrease of RMB3.1 million allowance for doubtful accounts.Research and development expenses decreased by 28.4% year over year to RMB53.0 million (US$7.5 million) for the third quarter of 2024, compared with RMB73.9 million for the same period of 2023. The decrease was primarily due to a decrease of RMB18.9 million in personnel costs and share-based compensation expenses. On a quarter-over-quarter basis, research and development expenses remained stable.

Operating profit for the third quarter of 2024 was RMB26.5 million (US$3.8 million), as compared with an operating loss of RMB2.1 million for the third quarter of 2023 and an operating profit of RMB52.4 million for the second quarter of 2024.

Interest income for the third quarter of 2024 was RMB36.0 million (US$5.1 million), as compared with RMB32.9 million for the third quarter of 2023 and RMB37.5 million for the second quarter of 2024.

Income tax benefit for the third quarter of 2024 was RMB7.8 million (US$1.1 million), as compared with RMB1.5 million for the third quarter of 2023 and an income tax expense of RMB7.0 million for the second quarter of 2024.

Net profit attributable to the Company’s ordinary shareholders for the third quarter of 2024 was RMB92.8 million (US$13.2 million), as compared with RMB36.7 million for the same period of 2023, and RMB88.3 million for the second quarter of 2024.

Adjusted net profit attributable to the Company’s ordinary shareholders (non-GAAP(1)) for the third quarter of 2024 was RMB126.0 million (US$18.0 million), as compared with RMB74.3 million for the same period of 2023, and RMB108.7 million for the second quarter of 2024. 

Cash position(2)

As of September 30, 2024, cash position of the Company was RMB3,440.1 million (US$490.2 million), as compared with RMB3,571.6 million as of December 31, 2023.

(1) See the sections entitled “Non-GAAP Financial Measure” and “Reconciliations of GAAP and Non-GAAP Results” for more information about the non-GAAP
     measures referred to in this announcement.
(2) Cash position includes cash and cash equivalents, short-term investments, and long-term debt investments included in long-term investments.

Share Repurchase Programs 

Pursuant to the share repurchase programs launched in September 2021, September 2022, September 2023 and September 2024, respectively, we had cumulatively repurchased approximately 50.9 million ADSs from the open market with cash for a total consideration of approximately US$102.3 million as of November 30, 2024.

Supplemental Information 

We organize and report our business in three operating segments:

Insurance, which mainly includes Waterdrop Insurance Marketplace, Shenlanbao Insurance Marketplace and technical support service;Crowdfunding, which mainly includes Waterdrop Medical Crowdfunding; andOthers, which mainly include Digital Clinical Trial Solution and other new initiatives.

The table below sets forth the segment operating results, with the nine-month comparative figures retrospectively adjusted to conform to this presentation.

For the Three Months Ended 

For the Nine Months Ended 

September 30,
2023

June 30,
2024

September 30,
2024

September
30, 2023*

September 30,
2024

RMB

RMB

RMB

USD

RMB

RMB

USD

(All amounts in thousands)

Operating revenue, net

 Insurance 

619,269

573,832

600,726

85,603

1,753,049

1,781,335

253,838

 Crowdfunding 

35,971

69,323

65,839

9,382

122,670

202,512

28,858

 Others 

31,238

33,001

37,576

5,354

95,624

101,150

14,414

Total consolidated operating
   revenue, net

686,478

676,156

704,141

100,339

1,971,343

2,084,997

297,110

Operating profit/(loss)

 Insurance 

145,200

122,955

122,501

17,457

399,914

374,619

53,383

 Crowdfunding 

(68,793)

(22,936)

(17,902)

(2,551)

(194,058)

(73,075)

(10,413)

 Others 

(43,713)

(27,450)

(31,716)

(4,520)

(128,157)

(90,598)

(12,911)

Total segment operating
   profit

32,694

72,569

72,883

10,386

77,699

210,946

30,059

 Unallocated item** 

(34,762)

(20,205)

(46,413)

(6,614)

(111,081)

(85,748)

(12,219)

Total consolidated operating
   (loss)/profit

(2,068)

52,364

26,470

3,772

(33,382)

125,198

17,840

 Total other income 

36,914

38,366

60,842

8,670

126,520

141,989

20,233

Profit before income tax

34,846

90,730

87,312

12,442

93,138

267,187

38,073

 Income tax benefit/(expense) 

1,479

(7,026)

7,843

1,118

14,609

(7,771)

(1,107)

Net profit

36,325

83,704

95,155

13,560

107,747

259,416

36,966

*       Starting from the second quarter of 2023, our chief operating decision maker began managing the business through three
        operating segments and assessing performance and allocating resources under this new operating segment structure. The
        nine-month comparative figures were retrospectively adjusted to conform to this presentation.

**     The share-based compensation and impairment of intangible assets acquired from business combination represent
        unallocated items in the segment information because our management does not consider these as part of the segment
        operating performance measure.

Exchange Rate

This announcement contains translations of certain RMB amounts into U.S. dollars (“USD” or “US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB7.0176 to US$1.00, the noon buying rate in effect on September 30, 2024 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial statements contained in this earnings release.

Non-GAAP Financial Measure

The Company uses non-GAAP financial measure, adjusted net profit attributable to our ordinary shareholders, in evaluating the Company’s operating results and for financial and operational decision-making purposes. Adjusted net profit attributable to our ordinary shareholders represents net profit attributable to our ordinary shareholders excluding share-based compensation expense attributable to our ordinary shareholders, foreign currency exchange gain or losses, impairment of intangible assets acquired from business combination and related tax effects on non-GAAP adjustments

The non-GAAP financial measure is not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. The non-GAAP financial measure has limitations as analytical tools and when assessing the Company’s operating performance, investors should not consider it in isolation, or as a substitute for net loss or other consolidated statements of comprehensive loss data prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. Investors are encouraged to review the Company’s historical non-GAAP financial measure to the most directly comparable GAAP measure. Adjusted net profit attributable to our ordinary shareholders presented here may not be comparable to similarly titled measure presented by other companies. Other companies may calculate similarly titled measure differently, limiting its usefulness as a comparative measure to our data.

The Company mitigates these limitations by reconciling the non-GAAP financial measure to the most comparable U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance.

For more information on the non-GAAP financial measure, please see the table captioned “Reconciliation of GAAP and Non-GAAP Results” set forth at the end of this press release.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Among other things, quotations in this announcement, contain forward-looking statements. Waterdrop may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Waterdrop’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Waterdrop’s mission, goals and strategies; Waterdrop’s future business development, financial condition and results of operations; the expected growth of the insurance, medical crowdfunding and healthcare industry in China; Waterdrop’s expectations regarding demand for and market acceptance of our products and services; Waterdrop’s expectations regarding its relationships with consumers, insurance carriers and other partners; competition in the industry and relevant government policies and regulations relating to insurance, medical crowdfunding and healthcare industry. Further information regarding these and other risks is included in Waterdrop’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Waterdrop does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Conference Call Information

Waterdrop’s management team will hold a conference call on December 11, 2024 at 7:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time on the same day) to discuss the financial results. Dial-in details for the earnings conference call are as follows:

International:

1-412-317-6061

United States Toll Free:

1-888-317-6003

Hong Kong Toll Free:

800-963976

Hong Kong:

852-58081995

Mainland China:

4001-206115

Chinese Line (Mandarin) Entry Number:

4533234

English Interpretation Line (Listen-only Mode) Entry Number:

2061532

Participants can choose between the Chinese and the English interpretation lines. Please note that the English interpretation option will be in listen-only mode. Please dial in 15 minutes before the call is scheduled to begin and provide the Elite Entry Number to join the call.

Telephone replays will be accessible two hours after the conclusion of the conference call until December 18, 2024 by dialing the following numbers:

United States Toll Free:

1-877-344-7529

International:

1-412-317-0088

Chinese Line Access Code:

6305770

English Interpretation Line Access Code:

9765426

A live and archived webcast of the conference call will also be available at the Company’s investor relations website at http://ir.waterdrop-inc.com/.

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 visit www.waterdrop-inc.com.

For investor inquiries, please contact

Waterdrop Inc.
IR@shuidi-inc.com 

WATERDROP INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, unless otherwise noted)

As of 

December 31, 2023

September 30, 2024

RMB

RMB

USD

Assets

Current assets

       Cash and cash equivalents

396,905

442,145

63,005

       Restricted cash 

577,121

474,683

67,642

       Short-term investments

2,996,527

1,912,873

272,582

       Accounts receivable, net 

693,110

755,427

107,647

       Current contract assets 

572,871

631,507

89,989

       Amount due from related parties

65

250

36

       Prepaid expense and other assets

189,846

192,153

27,381

Total current assets

5,426,445

4,409,038

628,282

Non-current assets

       Non-current contract assets

134,383

141,262

20,130

       Property, equipment and software, net

33,878

237,616

33,860

       Intangible assets, net

177,407

153,043

21,808

       Long-term investments

211,758

1,122,407

159,942

       Right of use assets, net

59,851

55,149

7,859

       Deferred tax assets

24,190

29,297

4,175

       Goodwill

80,751

80,751

11,507

Total non-current assets

722,218

1,819,525

259,281

Total assets

6,148,663

6,228,563

887,563

Liabilities, Mezzanine Equity and Shareholders’ Equity 

Current liabilities

       Amount due to related parties

9,509

10,043

1,431

       Insurance premium payables 

591,953

493,596

70,337

       Accrued expenses and other current liabilities

597,684

724,610

103,256

       Short-term loans

137,557

148,544

21,167

       Current lease liabilities

32,908

35,946

5,122

Total current liabilities 

1,369,611

1,412,739

201,313

Non-current liabilities

       Non-current lease liabilities

27,293

18,464

2,631

       Deferred tax liabilities

73,305

85,713

12,214

Total non-current liabilities

100,598

104,177

14,845

Total liabilities

1,470,209

1,516,916

216,158

Mezzanine Equity

       Redeemable non-controlling interests

92,760

90,449

12,889

Shareholders’ equity

       Class A ordinary shares

112

113

16

       Class B ordinary shares

27

27

4

       Treasury stock

(12)

(15)

(2)

       Additional paid-in capital

7,003,423

6,821,616

972,073

       Accumulated other comprehensive income

144,107

99,693

14,206

       Accumulated deficit

(2,561,963)

(2,300,236)

(327,781)

Total shareholders’ equity

4,585,694

4,621,198

658,516

Total liabilities, mezzanine equity and shareholders’ equity

6,148,663

6,228,563

887,563

 

 

 

WATERDROP INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(All amounts in thousands, except for share and per share data, or otherwise noted)

For the Three Months Ended 

For the Nine Months Ended 

September 30, 2023

June 30, 2024

September 30, 2024

September 30, 2023

September 30, 2024

RMB

RMB

RMB

USD

RMB

RMB

USD

Operating revenue, net

686,478

676,156

704,141

100,339

1,971,343

2,084,997

297,110

Operating costs and expenses(i)

 Operating costs 

(312,278)

(319,101)

(340,560)

(48,529)

(893,401)

(990,904)

(141,203)

 Sales and marketing expenses 

(187,685)

(157,413)

(173,172)

(24,677)

(565,634)

(512,731)

(73,064)

 General and administrative expenses 

(114,641)

(93,978)

(110,988)

(15,816)

(306,436)

(293,927)

(41,884)

 Research and development expenses 

(73,942)

(53,300)

(52,951)

(7,545)

(239,254)

(162,237)

(23,119)

Total operating costs and expenses

(688,546)

(623,792)

(677,671)

(96,567)

(2,004,725)

(1,959,799)

(279,270)

Operating (loss)/profit

(2,068)

52,364

26,470

3,772

(33,382)

125,198

17,840

Other income

 Interest income 

32,890

37,510

36,005

5,131

101,384

113,319

16,148

 Foreign currency exchange (loss)/gain 

(3,734)

(444)

7,909

1,127

(2,614)

8,979

1,279

 Others, net 

7,758

1,300

16,928

2,412

27,750

19,691

2,806

Profit before income tax

34,846

90,730

87,312

12,442

93,138

267,187

38,073

 Income tax benefit/(expense) 

1,479

(7,026)

7,843

1,118

14,609

(7,771)

(1,107)

Net profit 

36,325

83,704

95,155

13,560

107,747

259,416

36,966

 Net (loss)/profit attributable to mezzanine
   equity classified as non-controlling interests
   shareholders 

(417)

(4,586)

2,350

335

(417)

(2,311)

(329)

Net profit attributable to ordinary shareholders

36,742

88,290

92,805

13,225

108,164

261,727

37,295

Other comprehensive income:

 Foreign currency translation adjustment, net of
   tax 

8,983

13,497

(83,054)

(11,835)

76,803

(44,414)

(6,329)

 Unrealized loss on available for sale
   investments, net of tax 

–

–

–

–

(1,551)

–

–

Total comprehensive income

45,308

97,201

12,101

1,725

182,999

215,002

30,637

 Total comprehensive (loss)/profit attributable
   to mezzanine equity classified as non-
   controlling interests shareholders 

(417)

(4,586)

2,350

335

7,074

(2,311)

(329)

Total comprehensive income attributable to
   ordinary shareholders

45,725

101,787

9,751

1,390

175,925

217,313

30,966

Weighted average number of ordinary shares
   used in computing net profit per share

 Basic 

3,719,628,339

3,660,589,600

3,624,431,887

3,624,431,887

3,793,678,209

3,660,415,080

3,660,415,080

 Diluted 

3,808,529,672

3,734,346,444

3,689,357,838

3,689,357,838

3,921,118,226

3,726,590,324

3,726,590,324

Net profit per share attributable to ordinary shareholders

 Basic 

0.01

0.02

0.03

0.00

0.03

0.07

0.01

 Diluted 

0.01

0.02

0.03

0.00

0.03

0.07

0.01

(i)  Share-based compensation expenses are included in the operating costs and expenses as follows. 

For the Three Months Ended 

For the Nine Months Ended 

September 30, 2023

June 30, 2024

September 30, 2024

September 30, 2023

September 30, 2024

RMB

RMB

RMB

USD

RMB

RMB

USD

Sales and marketing expenses

(8,944)

(1,320)

(1,993)

(284)

(33,361)

(5,133)

(731)

General and administrative expenses

(22,060)

(16,285)

(21,297)

(3,035)

(66,642)

(51,909)

(7,397)

Research and development expenses

(3,758)

(2,600)

(2,563)

(365)

(11,078)

(8,146)

(1,161)

Total 

(34,762)

(20,205)

(25,853)

(3,684)

(111,081)

(65,188)

(9,289)

 

WATERDROP INC.

RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS

(All amounts in thousands, unless otherwise noted)

For the Three Months Ended 

For the Nine Months Ended 

September 30, 2023

June 30, 2024

September 30, 2024

September 30, 2023

September 30, 2024

RMB

RMB

RMB

USD

RMB

RMB

USD

Net profit attributable to the Company’s ordinary
  shareholders

36,742

88,290

92,805

13,225

108,164

261,727

37,295

Add:

 Share-based compensation expense attributable to
the Company’s ordinary shareholders 

33,810

20,015

25,673

3,658

110,130

64,948

9,255

 Foreign currency exchange loss/(gain) 

3,734

444

(7,909)

(1,127)

2,614

(8,979)

(1,279)

 Impairment of intangible assets acquired from
business combination 

–

–

20,560

2,930

–

20,560

2,930

 Tax effects on non-GAAP adjustments 

–

–

(5,140)

(732)

–

(5,140)

(732)

Adjusted net profit attributable to the Company’s
ordinary shareholders

74,286

108,749

125,989

17,954

220,908

333,116

47,469

 

 

 

View original content:https://www.prnewswire.com/news-releases/waterdrop-inc-announces-third-quarter-2024-unaudited-financial-results-302328817.html

SOURCE Waterdrop Inc.

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In HelloNation, Real Estate Expert Lee Malcom Explains Why Local Knowledge Matters When Buying Older Homes

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34 minutes ago

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October 26, 2026

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The article outlines key inspection priorities and explains how local expertise helps buyers evaluate older properties.

MONROE, Ga., Oct. 26, 2026 /PRNewswire/ — What should buyers look for when purchasing an older home?

HelloNation published an article that answers this question, drawing on insights from Lee Malcom, real estate expert at Malcom & Malcom Realty Professionals LLC in Monroe, Georgia.

The article examines the unique opportunities and responsibilities of buying older homes. While many buyers are drawn to historic details, mature landscaping, and established neighborhoods, the article explains that age can also bring maintenance concerns that deserve careful evaluation before a purchase.

According to a HelloNation article, one of the most important areas to assess during an older-home inspection is the roof. Roofing systems naturally deteriorate over time, and replacement costs can be substantial. The article notes that understanding the roof’s age, condition, and maintenance history can help buyers anticipate future expenses and avoid unexpected repairs. Professional evaluations can also reveal leaks, damaged materials, and ventilation issues that may not show up during a casual walkthrough.

The article also highlights the importance of reviewing plumbing systems. Many older homes contain materials and components installed decades ago that may no longer meet modern standards. Corrosion, leaks, and reduced water pressure can create challenges for homeowners. The article explains that evaluating plumbing systems before purchase allows buyers to better understand potential upgrade or repair needs.

Electrical systems represent another key area of focus. The article explains that older wiring, electrical panels, and outlets may have been designed for households with much lower power demands than today. Modern families often rely on many electronic devices and appliances, so it’s important to determine whether existing electrical systems can safely support current usage.

The article also discusses foundation concerns as part of a comprehensive evaluation process. The article explains that while minor cracks may be common in some homes, larger issues can signal structural problems. Uneven floors, sticking doors, and visible foundation movement may warrant additional professional assessment before buyers decide to purchase.

The HelloNation article emphasizes that a detailed inspection of an older home can uncover concerns early and provide valuable information about future maintenance responsibilities. Understanding the condition of major systems allows buyers to make more informed decisions and prepare for potential ownership costs.

Beyond physical inspections, the article explains why local real estate knowledge matters when buying an older property. Experienced professionals often understand neighborhood histories, regional building practices, and long-term housing trends that may not appear in standard property disclosures. This knowledge helps buyers better evaluate the risks and opportunities associated with older homes.

For those exploring Walton County real estate, local expertise can provide important context regarding construction methods, neighborhood development patterns, and common maintenance issues found throughout the area. The article notes that this understanding helps buyers approach purchasing decisions with greater confidence and a clearer understanding of long-term ownership expectations.

The article also discusses the value of working with professionals who maintain strong local networks. Access to trusted inspectors, roofing specialists, contractors, and foundation experts can help buyers obtain reliable assessments and accurate information before finalizing a transaction.

Why Local Knowledge Matters When Buying Older Homes features insights from Lee Malcom, real estate expert in Monroe, Georgia, in HelloNation.

About HelloNation

HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

www.hellonation.com

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SOURCE HelloNation

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EZRA, the coaching arm of the Adecco Group, launches Loop – the first connected human and AI coaching experience

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34 minutes ago

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October 26, 2026

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The first connected coaching experience pairs a dedicated ICF-accredited coach and Cai, an AI development partner that remembers conversations, priorities and organizational context to enable manager performance enhancement

ZURICH, Oct. 26, 2026 /PRNewswire/ — EZRA, the enterprise coaching arm of the Adecco Group (SIX: ADEN), today launched EZRA Loop, a first-of-its-kind fully connected coaching experience that combines human expertise with AI to help managers build the skills needed to lead in the age of AI.

As AI becomes part of everyday work, hybrid workforce orchestration is about redesigning work so people and AI agents each contribute where they create the most value and impact.

In this new environment, managers are under increasing pressure to lead change, navigate complexity and develop their teams. Yet coaching remains out of reach for most employees. EZRA Loop democratizes coaching: businesses can now provide managers with an always-on AI development partner that knows exactly when to loop in a dedicated, accredited human coach.

Denis Machuel, CEO of the Adecco Group: “As AI changes how work gets done, organizations need to bring their people along with them. Loop shows how human expertise and AI support can work together to make coaching more accessible, in the flow of work. This is an excellent example of how to leverage technology, while retaining a human touch, judgement and trust that only people can provide. In the hybrid – human-AI – workplace, it is essential to intentionally design how people and technology interact.”

Research shows that teams led by coached managers resolved customer problems 18% faster. Drawing on insights from more than a million coaching sessions with 200,000 people across its customers including companies like Microsoft, Spotify, Mastercard, HSBC, Eli Lilly and KPMG, EZRA found that AI and human coaching each excel in different areas. It noticed that AI support outperformed human coaches on task skills such as prioritization and goal setting, while human coaching outperformed on interpersonal skills like emotional intelligence and executive presence. Together, humans and AI, outperform either alone, driving a 37% increased chance of behavioral changes. 

This combination reflects a broader shift across organizations where the greatest value is increasingly created not by humans or AI working independently, but by orchestrating the interaction between people and technology.

To access the full text of the press release, click here: https://www.adeccogroup.com/our-group/media/press-releases/ezra-launch-loop-human-ai-coahing

About The Adecco Group

The Adecco Group is the world’s leading talent and technology expertise company. Our purpose is making the future work for everyone. Through our three global business units – Adecco, Akkodis and LHH – across 60 countries, we enable sustainable and lifelong employability for individuals, deliver digital engineering consulting to innovate and accelerate business transformation and empower organizations to optimize their workforces. The Adecco Group leads by example and is committed to fostering sustainable employability and supporting resilient economies and communities. The Adecco Group AG is headquartered in Zurich, Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN). https://www.adeccogroup.com/

About EZRA

EZRA is the connected coaching company that gives every manager a coach. Founded in 2019 as part of The Adecco Group, EZRA has delivered more than a million coaching sessions to over 200,000 people in 120 countries and 75 languages. EZRA combines behavioral science with 4,500 ICF-accredited human coaches and Cai, its AI development partner, to deliver coaching that drives behavior changes, leadership development and better performance. Companies like Microsoft, Spotify, Mastercard, HSBC, Eli Lilly, KPMG and ServiceNow rely on EZRA coaching. 

For further information please contact:

The Adecco Group Corporate Press Office
media@adeccogroup.com
Rodrigo Sánchez Flórez – Tel: +34 658 06 54 02 / Jürg Schneider – Tel: +41 79 876 09 21
r.sanchezflores@adecco.com / Juerg.Schneider@adeccogroup.com

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EaseUS Software Releases Disk Health Insights Report 2026 H1 from 440K Disk Samples, Finding HDDs Show a 20x Higher Share of Caution/Bad Ratings Than SSDs

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34 minutes ago

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October 26, 2026

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NEW YORK, Oct. 26, 2026 /PRNewswire/ — EaseUS Software released the Disk Health Insights Report 2026 H1 from 444,282 disk samples, highlighting differences in HDD and SSD health ratings, key warning indicators, and storage characteristics that may warrant closer monitoring.

According to this report, HDD samples were substantially more likely than SSD samples to receive a Caution or Bad health rating: 24.83% of sampled HDDs received one of these ratings, compared with 1.22% of sampled SSDs – a difference of approximately 20 times in the share of health warnings.

The findings highlight the importance of regular disk health checks and proactive data protection, particularly for users who continue to rely on hard disk drives.

How Did EaseUS Lab Conduct This Disk Health Report?

EaseUS Lab, in collaboration with the EaseUS Partition Master R&D and technical support teams, conducted this study and analyzed 444,828 HDD and SSD samples collected from February 1 through July 31, 2026.

The EaseUS Lab examined disk health ratings and S.M.A.R.T. diagnostic indicators, as well as drive capacity, power-on hours (POH), partition styles, and Windows system drive configurations. Rather than measuring actual failure rates or predicting the remaining lifespan of individual drives, the report identifies patterns in observed health ratings and characteristics associated with a higher share of warnings in the dataset.

Alongside the differences between HDDs and SSDs, the findings revealed several noteworthy patterns, including:

HDDs with capacities below 500 GB showed a 35.89% share of Caution/Bad ratings, while those with more than 5,000 power-on hours recorded a 28.10% share.MBR HDDs also showed a higher share of Caution/Bad ratings than GPT HDDs, at 34.14% versus 19.29%.The share of HDDs receiving Caution/Bad ratings was nearly identical when C: drive utilization reached 90% or higher.

These findings help Windows users identify key disk health warning signs, protect important data, and prepare for migration or replacement when needed.

The following key findings offer a more thorough look at the report’s most notable disk health patterns and the factors that may warrant closer attention.

Core Findings: Five Key Insights Into Windows Disk Health

According to the report, EaseUS Lab identified five key findings to help users better understand disk health and prioritize maintenance.

1. HDDs Show a Higher Share of Caution and Bad Health Ratings

Among sampled HDDs, 74.73% were rated Good, 23.04% Caution, and 1.78% Bad. By comparison, 98.26% of sampled SSDs were rated Good, while 0.21% were rated Caution and 1.01% Bad.

Overall, 24.83% of HDDs were rated Caution or Bad, compared with 1.22% of SSDs.

Although SSDs show a much lower risk of getting Caution/Bad ratings, it still matters to run regular SSD health checks and take timely action when significant warnings remain.

2. Reallocated Sectors and Read Errors Stand Out Among HDD Warning Indicators

The report identifies S.M.A.R.T. attribute 05, Reallocated Sectors Count, and attribute 01, Read Error Rate, as notable HDD warning indicators.

Reallocated Sectors Count was reported in 5.06% of HDD samples, while Read Error Rate was reported in 1.62%. Among the warning indicators recorded in HDDs rated Bad, these attributes accounted for 70.00% and 22.47%, respectively.

These findings highlight the importance of combining overall health rating with significant diagnostic indicators. When significant warnings appear, users should prioritize protecting important data and determine whether disk cloning, migration, or replacement is appropriate.

3. Smaller-Capacity, Longer-Running, and MBR HDDs Show Higher Shares of Health Warnings

The report found higher Caution/Bad shares in several HDD groups:

35.89% of HDDs with capacities below 500 GB were rated Caution or Bad.28.10% of HDDs with more than 5,000 power-on hours (POH) were rated Caution or Bad.34.14% of MBR HDDs were rated Caution or Bad, compared with 19.29% of GPT HDDs.

These patterns identify scenarios that may warrant closer monitoring. However, the findings do not indicate that smaller capacity, longer operating hours, or MBR partitioning style may directly cause disk health to decline. Users should consider these characteristics alongside diagnostic results, device configuration, and usage history when planning maintenance or migration.

4. Low C: Drive Space Does Not Necessarily Indicate Poor HDD Health

This study also examined the relationship between C: drive utilization and disk health, using 90% utilization as the threshold for high storage pressure.

Among HDDs, 29.04% of samples with C: drive utilization at or above 90% were rated Caution or Bad, compared with 29.32% of those below 90%. The similar result doesn’t show a direct relationship between C: drive utilization and poorer HDD health in this dataset.Among SSDs, the Caution/Bad share was 1.83% in the high-utilization group and 0.89% in the lower-utilization group. Although the high-utilization group showed a higher share of Caution/Bad ratings, the data do not show a causal relationship.

For Windows users, low disk space and disk health issues are distinct concerns and should be evaluated separately, even when both issues affect the same device.

5. HDDs Continue to Power a Meaningful Share of Windows Systems

Despite the growing adoption of SSDs, HDDs accounted for 17.79% of sampled Windows system drives. GPT accounted for 75.46% of system drives, while MBR remained in use on 24.54%.

These findings show effective disk health management requires more than mere disk diagnostics. Windows users with HDDs should also consider storage capacity, data protection, partition compatibility, and SSD migration operations.

Industry Implications: Disk Health Detection Is Shifting to Proactive Management

According to this report, disk health diagnostics are taking a broader role in Windows storage management.

A single health rating can indicate whether a further investigation is needed, but it can’t provide a complete picture of storage readiness or determine the remaining lifespan of a disk drive.

This report highlights three practical priorities for disk management providers, PC support teams, and individual users:

Don’t ignore and check for early warning signs. Review overall health status along with S.M.A.R.T. indicators, power-on hours, and other drive details rather than relying on a single indicator.Back up data in advance. When a drive receives a Caution or Bad rating, confirm the reported issue and back up important files before making further decisions.Prepare for disk drive upgrade. If a drive is aging or running out of space, check the new drive’s capacity, partition style, and BIOS/UEFI compatibility before migrating or replacing a system drive.

This approach helps users understand disk health warnings and take appropriate action without assuming every warning signals an immediate drive failure.

Actionable Suggestions to Protect HDD and SSD Health in Windows

Based on the report’s findings, EaseUS Lab recommends a practical approach to disk health management tailored to the condition of each drive.

Drives in Good Status: Continue normal use, back up data regularly, and check disk health periodically.Drives in Caution Status: Review warning indicators, back up important files, and monitor disk health.Drives in Bad Status: Back up data first and consider drive replacement or data recovery if needed.Using small or aging HDDs: Monitor disk health and consider upgrading to an SSD if appropriate.Disk with low C: drive space issue: Free up space or expand the partition; low space alone does not indicate disk failure.HDD-to-SSD migration: Check disk health, target capacity, and boot compatibility before migrating.

The report emphasizes a complete process to take as long as a user is using a disk drive on their devices: Check Disk Health → Protect Data → Prepare New Disk → Migrate or Replace Disk. The goal is not simply to label a drive as healthy or unhealthy, but to help users respond appropriately to the available evidence.

The full report, including detailed findings and practical recommendations, is available at: https://www.easeus.com/whitepapers/disk-health-insights-report-2026-h1.html

About EaseUS Software

Founded in 2004, EaseUS is a software provider specializing in data recovery, disk management, data backup, and multimedia solutions. Trusted by users in more than 160 countries and regions, EaseUS develops accessible software to help individuals and businesses manage, protect, and make the most of their digital data. For more information, visit https://www.easeus.com.

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