Waterdrop Inc.

Good morning, ladies and gentlemen, and thank you for standing by for WaterDrop, Inc.' 's fourth quarter and fiscal year 2024 earnings conference call. At this time, all participants are in a listen-only mode. After the management's prepared remarks, there will be a question and answer session. As a reminder, today's conference call is being recorded. I would now like to turn the meeting over to Ms. Jasmine Lee. Please proceed, Ms.

Lee. 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 Litigation 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 and applicable law. Also, this call includes discussion of certain land-gap measures. Please refer to our earnings release for reconciliation between land-gap and gap. 今天与会的公司管理层有公司创始总事长兼首席执行官沈鹏 Hello, everyone. Thank you for participating in the 4th quarter of the company's 4th quarter of 2024, which is the year-end conference.

Looking back at the year 2024, the 5 cents of each business of the company have achieved good results. With a unique and rich scene ecology, and the long-term development of AI technology, we have completed the full upgrade from product to service, ran from the old AI industrialization to the new way of landing, and handed out a satisfying order. In 2024, the company's annual revenue reached RMB 27.7 billion, with a growth of 5.4%. In the fourth quarter, the total revenue of the company was about 6.87 billion yuan. In terms of profits, the total revenue of the company was about 9,960 million yuan. Overall, the company has achieved financial success throughout the year, and has maintained a positive performance in the 12 consecutive quarters. I am also very happy to announce that According to the company's status document in the second half of 2024, the company will launch its third cash-out in the near future. At the end of April to the end of May, the company will launch its third cash-out in the near future. At the end of April to the end of May, The company also promised that from the beginning of 2025, under the premise of healthy business, the company plans to distribute a share every six months in return for shareholders and investors' support. In addition to the share, the company also continues to actively buy back in the public market. By the end of February 2025, The company has bought back about 5,210,000 units of ADS in the public market, with a profit of about $1.04 billion. The underwater company also actively repays and builds up society, and persists in sustainable development. As of December 31, 2024, the underwater engineering platform has managed to open and cooperate with 115 public-private enterprises. and more than 150,000 industrial projects. The company also won the annual ESG Sustainable Development Top 15. Now, in the annual ESG rating, it is ranked A. On October 14, 2024, the Ministry of Finance issued an announcement about the selection of individual assistance service platforms. to actively embrace legislation and supervision, and fully prepare for various requirements. In the end, at the end of 2024, the Chinese Ministry of Civil Affairs successfully selected the first personal assistance network service platform. The industry enters a new phase with a more healthy standard. Since the Spring Festival this year, DeepSeq has aroused global attention, bringing new ideas to the AI industry in China and all over the world. We believe that the combination of AI and industrial Internet will bring about a new productivity revolution. As a technology company that provides deep-rooted special insurance services, we will continue to invest firmly and lead the industry with advanced technology. During 2024, we will continuously polish and launch a number of applications based on large-scale assistant and micro-technical applications, as well as the full chain of energy-saving business. Especially in the field of online sales and service for managers, we have gained a wide range of recognition in the industry. Recently, we have also taken a step-by-step approach to further promote the company's AIA. In the second half of today's press conference, our team will also help the company to share our thoughts and the latest business progress in terms of AIA plus insurance business scenarios and applications. In 2015, The company's business development is expected to grow. We expect that in 2025, the annual revenue will increase by 20%. The increase in business will be gradually reflected in each quarter. At present, the performance of the first quarter of 2025 will still be stable. At the same time, it will maintain excellent operating capacity. In the following quarter of this year, As the company's income increases, resources may be invested more and more, and it will have a certain impact on the rest of the power. So I'll stop here. Now it's time for our financial advisor, Xu Xiaoying, to share with you the financial experience of the company.