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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