Waterdrop Inc.

Good morning, ladies and gentlemen, and thank you for standing by for Waterdrop, Inc.' 's first quarter 2021 earnings conference call. At this time, all participants are in a listen-only mode. After the management's prepared remarks, there will be a Q&A session. As a reminder, today's conference call is being recorded. I would now like to turn the meeting over to your host for today's call, Ms. Shai-Jo Tua. Please proceed, Ms. Tua. Thank you.

Thank you, operators. Hello, everyone. Thank you for joining WaterDrop's first quarter 2021 earnings conference call. Please note that the discussion today will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities and Legislation Reform Act of 1999. Overlooking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include, but are not limited to those outlined in our public findings with the SEC. The company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. Also, this call includes discussion of certain non-GAAP measures. Please refer to our earnings release for a reconciliation between non-GAAP and GAAP. Joining us today on the call are Mr. Shen Peng, our founder, chairman, and CEO, Mr. Yang Guang, co-founder, director, and general manager of the insurance marketplace, and Mr. Kevin Shih, our CFO, and Mr. Jian Dan, our head of food strategy. They will all be available for a Q&A session after their remarks. Now I would like to turn the call over to our CEO, Mr. Shen Peng. Please go ahead.

Hello, everyone. Thank you for attending the press conference. We are very happy. In the first quarter of 2021, the performance of水滴 was strong. This is also the first time for us as a public company to publish a quarter press conference. Our net operating income exceeded RMB 8.8 billion in the first quarter. After adjustment, the net profit increased by 43.2%. This performance reflects our advantage in terms of operating efficiency. Since the establishment of the company in 2016, SuiDi has continued to develop rapidly in the Chinese insurance industry and has achieved growth beyond the industry. It has become the leading technology platform in the Chinese insurance technology and medical health service industry.