BEIJING, June 6, 2024 /PRNewswire/ — On June 5, Waterdrop Inc. (NYSE:WDH), a leading technology platform dedicated to insurance and healthcare services with a positive social impact, unveiled its unaudited financial results for the first quarter of 2024 ended March 31, 2024. During the quarter, Waterdrop reported net operating revenue of RMB 704.7 million, a year-over-year increase of 16.3%. Net profit attributable to ordinary shareholders totaled RMB 80.6 million, up 62.2% from the previous year, sustaining profitability for the ninth consecutive quarter. Operating expenses, including sales and marketing expenses, general and administrative expenses, and R&D expenses, accounted for 46.4% of revenue, a decrease of 11 percentage points year-on-year.
Since announcing its stock repurchase program in September 2021, as of May 31, 2024, Waterdrop has repurchased approximately 45.5 million American Depositary Shares (ADSs) from the open market.
Insurance Business Operating Profit Totaled RMB 129.2 Million, with Life Insurance Accounting for 56.4% of Long-term Insurance Product Mix
Waterdrop’s insurance-related revenue increased 13.1% year-on-year to RMB 607 million. The insurance business operating profit reached RMB 129.2 million in Q1 2024. First-year premiums …