BEIJING (dpa-AFX) - Waterdrop Inc. (WDH), a Chinese technology platform for insurance and healthcare services, reported Thursday that its first-quarter net profit attributable to ordinary shareholders grew 34.2 percent year-over-year to RMB 108.2 million.
During the quarter, Waterdrop reported net operating revenue of RMB 753.7 million.
Waterdrop's insurance-related revenue amounted to RMB 658.0 million, an increase of 8.4% year-over-year. The insurance business operating profit reached RMB 151.4 million.
The company noted that first-year premiums or FYPs generated by insurance business amounted to RMB 2.09 billion, representing an increase of 19.3% year over year.
As of March 31, around 475 million people cumulatively donated an aggregate of RMB 68.8 billion to 3.47 million patients through Waterdrop Medical Crowdfunding.
Waterdrop's Digital Clinical Trial Solution generated revenues of approximately RMB 23.0 million, an increase of 11.5% from last year.
As of March 31, the cCompany had cumulatively enrolled 11,217 patients into 1,281 clinical trial programs through the E-Find Platform.
Peng Shen, Founder, Chairman, and Chief Executive Officer of Waterdrop, said, 'Our business performance in Q1 demonstrates solid revenue and profit growth. AI capabilities now power our core business scenarios and ecosystems, enhancing service quality through technological innovation. Moving forward, we will focus on tech-driven value creation with consistent commitment to 'Tech for Good'.'
On the NYSE, Waterdrop shares were gaining around 2 percent to trade at $1.5300.
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