Waterdrop Inc. Releases 2024 Annual Report: AI-Enabled Efficiencies Drive Business Growth
BEIJING, April 30, 2025 /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 the filing of its annual report for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission (SEC). For the year, the Company reported net revenue of RMB 2.772 billion and net profit attributable to shareholders of RMB 368 million, representing a 119.8% year-on-year increase. This achievement extends the company's streak of profitability to 12 consecutive quarters. As of the end of February 2025, Waterdrop had repurchased approximately 52.1 million American Depositary Shares (ADS) for an aggregate consideration of US$100 million under its share buyback program.
Leading financial institutions, including Goldman Sachs, UOB Kay Hian, and Guotai Junan International, have reaffirmed their Buy ratings for Waterdrop, citing improved operational leverage and margin expansion supported by the Company's proprietary technology infrastructure. Analysts project 2025 revenue growth of 20% and have revised their 12-month price targets upward, reflecting strong market confidence in the Company's strategic execution..
Key Business Highlights from the 2024 Annual Report:
- Insurance Business: Waterdrop's insurance business reported first-year premiums of RMB 7.473 billion, generating annual revenue of RMB 2.36 billion and an operating profit of RMB 477 million. Licensed nationwide as an insurance broker, Waterdrop Insurance Marketplace established partnerships with 102 insurers and offers a portfolio of 1,967 insurance products online designed to address a broad range of consumer needs. The online platform serves a user base of 117.3 million, leveraging data analytics and actuarial modeling to deliver insurance solutions with most of them are customized ones.
- Medical Crowdfunding Platform: As of December 31,2024, Waterdrop's Medical Crowdfunding platform had facilitated donations for over 3.4 million patients across China's multi-tiered healthcare system, with 470 million donors contributing RMB 67.5 billion. In a milestone achievement, the platform was named among the first government-approved online personal fundraising platforms by China's Ministry of Civil Affairs in December 2024.
- Digital Clinical Trial Solutions: Waterdrop's digital clinical trial solutions segment reported RMB 91.1 million in 2024 net revenue. As of December 31, the Company enrolled 10,395 patients and completed 1,212 clinical trial projects, reinforcing its position in tech-enabled healthcare innovation.
Waterdrop has emerged as an industry leader in AI adoption, investing nearly RMB 300 million annually in R&D and securing over 100 technology patents. The Company has integrated large language models into critical workflows including underwriting, renewals, claims management, and customer service. Key initiatives include:
- AI Insurance Assistant: A productivity tool supporting sales enablement and compliance oversight for licensed agents.
- AI Insurance Expert: An intelligent customer engagement solution powering Bao Xiao Hui, the Company's chatbot, which delivers 24/7 policyholder support and has reduced average query resolution time by 50%. The AI-driven quality assurance system now provides full coverage across all service channels, including voice, WeChat, and social platforms.
Mr. Peng Shen, Founder, Chairman, and CEO of Waterdrop, announced the Company's ambitious 'All in AI' strategy for 2025, highlighting AI's role in driving efficiency and fostering collaborative growth with partners. "AI has been instrumental in our 120% net profit surge this year," Shen noted. "We will continue refining our AI capabilities to deliver sustainable value for all stakeholders."
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.
SOURCE Waterdrop Inc.
Share this article