Waterdrop Inc.

Good morning, ladies and gentlemen, and thank you for standing by for WaterDrop, Inc.' 's first quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a Q&A session. As a reminder, today's conference is being recorded. I would now like to turn the meeting over to Ms. Jasmine Lee. Please proceed, Ms. Lee.

Thank you, Alison. 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 your public filings with SEC. The company does not undertake any obligation to update any forward-looking statement except as required in the applicable law. Also, this call includes discussion of certain non-GAAP measures Please refer to our earnings release for reconciliation between non-GAF and GAF. 今天与会的公司管理层有 公司创始人 董事长 兼首席执行官沈鹏 公司董事 保险科技事业群总经理燃卫 公司财务部门负责人徐晓英 以及我本人 公司董事会秘书李杰儒 管理层将在中文线路 基本线路介绍公司情况 同时我们也提供英文同传线路 供参会者选择 First of all, I would like to invite Shen Peng to speak.

Hello, everyone. Thank you for participating in the first quarter of the water company's performance release call in 2015. In the first quarter, the overall business of the water company was quickly developed and maintained a stable profit. In the first quarter, the company's revenue reached 7.5 billion yuan, which is the same as the increase of 7%. The amount of net profit is about 1.1 billion yuan, which is the same as the increase of 34.2%. The government has shown that This is the third consecutive quarter of the company's 13th quarter to achieve a strong gap. In terms of business, the insurance business continues its active growth strategy, with 19% of the total cost of insurance growth, and 8% of the total income of the insurance business. The business serves as a first-class personal assistance network service platform, actively supporting the supervision of women, and has accumulated a total of 3.7 million patients. We need to stabilize the delivery. The total number of patients is 11,217. Within the quarter, we will continue to deepen the energy development of large-scale insurance, and create a standard application for the insurance industry. The cost of development in the first quarter is 56 million yuan, and the return on investment is 3.6%. Water-based and water-based AI insurance experts in various product scenarios are gradually expanding. The situation in China has become more and more obvious. Overseas, progress has widened. Cooperation. The company continues to pay attention to shareholder reports. By the end of May 2025, the company has accumulated about 54.2 million shares in the public market, which is about 10.7 billion US dollars. The company has also completed the third cash-out since its listing in May. The total is about 7.3 million US dollars. The water supply company is also actively responding to and taking care of society, and persists in sustainable development. As of March 31, 2025, the water supply industry platform has 117 public-private partners, and more than 1.55 million public-private projects have been launched, including the first time to support the work of Xizang, Dizhen, and Jiuzai. Finally, According to the company's expectations for this year and the whole year, we are looking forward to a further increase in revenue in the following quarter. We expect annual revenue to exceed more than 20% year-on-year. In the second half of the year, the growth of the company's drive business will increase, and it is expected to have a certain degree of negative influence on the whole family. Next, we will introduce the development of the insurance business in the first quarter by the General Manager of the Insurance Technology Development Group.