Waterdrop Inc.

Good morning, ladies and gentlemen, and thank you for standing by for WaterDrop, Inc.' 's third quarter 2023 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 Mr. Chen Rui Chen. Please proceed, Mr. Chen.

Please note that the discussion today will contain forward-looking statements made under the safe harbor provisions of the U.S. private securities and the Education Reform Act of 1995. Forward-looking 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 list for a reconciliation between non-GAAP and GAAP. Today's conference is managed by the company's founder, chairman, and chief executive, Shen Peng. The company's joint founder, chairman, financial deputy, and international business department general manager, Yang Guang. The company's chairman, insurance technology business group general manager, Ran Wei. The company's chief executive and medical technology business group general manager, Zhu Zetong. And I am the secretary of the company's board of directors, Chen Weichen. The management floor will introduce the company's situation in Chinese and the basic line-in. At the same time, we also provide choices for English, the same-sex line-in, and the common meeting. Next, please, Mr. Shen.

Hello, everyone. Thank you for participating in the third quarter of the company's third quarter of 2023. First of all, I would like to give you a review of the industry. In the third quarter of 2023, the domestic economy is still in the process of recovery. The third quarter is affected by various aspects such as product policy adjustment. and short-term suppression of human rights businesses. With the increase in industry transparency and specifications brought by industry supervision, and the gradual acceptance of new product policies by the global market, companies believe that the human rights industry is entering a new development stage. Faced with challenges, companies actively respond to the direction of supervision, and work hard to improve the health and business efficiency of their businesses. Companies insist on being the first users, and use the price of the needs of users, not only to make users serve the product's innovative ability, You go down and you can't do it. You know, you know, you know, you know, you know In the past two years, the share price has increased by 67%. This shows that the company's business can continue to develop at a high level. Under the ongoing financial crisis, the company's three-year operating cash flow continues to decline. This shows the stability of the selection ability. As of the end of September, the company's cash balance has been replenished. Under the ongoing repurchase of stocks and the acquisition of shenlanbao, the company has cash and the short-term investment of cash and short-term investment of short-term investment of short-term investment of short-term investment of short-term investment of short-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of long-term investment of The company has achieved good performance in all areas of business in the past three seasons. The company continues to improve its business health. The company continues to improve its business health. The company continues to improve its business health. The company continues to improve its business health. The company continues to improve its business health. The company continues to improve its business health. It is a control system that provides continuous online service. The total number of service patients is more than 3 million. It continues to focus on funding transparency, security, and sustainability. Through the four-in-one plus tax rate, it proves the full range of deep-rooted policy, and the urgent need for an active and transparent enterprise. At the same time, it persists to continue to improve service quality, promote service type, and question type. to build a user-oriented service system. The general medical platform, with its excellent resource capability, will continue to develop and cooperate with domestic and foreign well-known pharmaceutical companies, continue to expand the scope of recruitment and recruitment, focus on the development of pharmaceuticals, and take advantage of the technical advantage of the platform to continue to explore new opportunities in the medical field. With the development of the business, the company continues to invest in research and development. In the third quarter, the company continues to carry out the upgrade of AI technology, From product, industry, service and other aspects, to achieve full chain of negative energy. With the decline of the negative energy of our own technology, the company continues to explore the outside output of the technology. The public interest in ESG. The company continues to focus on ESG construction and improvement. This leads to the realization of sustainable development of enterprises and society in both directions. Stimulating the Internet insurance company The second stage of information disclosure and practical development At the same time as the development process The company is actively taking on social responsibility In August, the typhoon affected the Jinyanji area The first typhoon broke out and the flood broke out The water and land construction joint of the well-known construction association Chiyuan disaster area On the main line Chiyuan typhoon flood flood two levels To the Beijing Youth Development Foundation Donation of 1,000 emergency rescue packages to help 1,000 public workers and people in distress. As of September 30, 2023, a total of 112 construction sites, such as big hospitals, emergency resorts, educational institutions, etc. have been built on the water supply platform. The total collection is more than 12.9 billion yuan. The number of donors is more than 70 million times. With the advantage of business and technical market, The development of a multi-layered medical care system was actively involved in the development of a multi-layered medical care system. The construction of a multi-layered medical care system was actively involved in the construction of a multi-layered medical care system. The construction of a multi-layered medical care system was actively involved in the construction of a multi-layered medical care system. The construction of a multi-layered medical care system was actively involved in the construction of a multi-layered medical care system. The construction of a multi-layered medical care system was actively involved in the construction of a multi-layered medical care system. The construction of a multi-layered medical care system was actively involved in the construction of a multi-layered medical care system. The construction of a multi-layered medical care system was actively involved in the construction of a multi-layered medical care system. The construction of a multi-layered medical care system was actively involved in the construction of a multi-layered medical care system. The construction of a multi-layered As of October 30, 2023, the company has accumulated 38.5 million shares in the public market, accounting for about $87.4 million. This reflects the company's long-term and sustainable development ambitions for the future. At the same time, the shares will continue to be used in the shareholding plan to encourage the company's internal strength to increase and employees to grow together. In the future, the situation of the last three seasons of the company is simple. The industry and personal development of the company are full of confidence. Looking forward to the next season of 2023, the company will seek higher quality growth under a reasonable profit margin. The company's business strategy is to focus on the user as the center of the water security business, and the health and safety technology as the driving force, and continue to enhance the business performance and expand the service ecosystem. to maintain a long-term healthy and stable development. At the same time, to enhance the long-term efficiency, continuously optimize the product structure, and consolidate the business infrastructure to provide professional and warm services to users. Second, to keep up with the business, to continue to insist on using the center of the company, and to replace the service model to lead to high-performance development in the industry. At the same time, to continue to stick to the transparent operation of funds, and to implement strict control management. three four five Accelerate the promotion of technology to enhance the ability of AI to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to build the core of technology to It is even better to use the Internet technology to promote people's use of public transport to protect their families. Next, let's talk about the situation of the third quarter of the insurance business of this company.