Shui Drop Company released the second quarter financial report revenue increased by 8.1% over the previous quarter

On September 9th, NYSE: WDH) released the second quarter financial report that had not been audited as of June 30, 2022. The financial report shows that the operating income of Shui Drop in the second quarter was 701.4 billion yuan, an increase of 8.1%over the previous quarter. The operating cost and cost decreased by 68.9%compared with the same period last year. The sales and marketing costs decreased by 88.4%compared with the same period last year.

In the second quarter, the revenue of water drops was 625.9 million yuan. Insurance -related income is the main source of revenue of water drops, including insurance brokerage income and technical service income. Insurance brokerage income is a brokerage commission obtained from insurance companies. Technical service income comes from providing technical services to insurance companies, insurance brokerage companies and agency companies.

As of the end of the second quarter, the water drop insurance platform under the water drop company provided customers with 454 insurance products, adding 46 new models from the end of the previous quarter. In the second quarter of the water drop insurance, the first annual premium was 1.646 million yuan, of which more than 90%of the first annual premiums came from the insurance product customized by the water drop insurance company. It has improved compared to the first quarter.

The financial report shows that the water drop of the major disease raising platform under the water drop company in this quarter generated the first income. On April 7 this year, water drops began a trial fundraising service fee, and 3%service fee was charged according to the fundraising amount of each fundraising project. The service fee for a single fundraising project was up to 5,000 yuan.

As of the end of the second quarter, more than 412 million people donated about 53.3 billion yuan of medical funds to more than 2.58 million patients through water droplets, an increase of 2.4 billion yuan from 5.9 billion yuan at the end of the first quarter. The service fee revenue was 56.1 million yuan. , Account for about 2.3%of the total amount of fundraising in the quarter.

Since the water drops have been incurred from the service fee income from April this year, the relevant expenses of the water drop fundraising consultant team have been recorded from sales and marketing expenses to operating costs. In the second quarter, the direct cost related to water drops was 61.5 million yuan, which should be higher than the second quarter of service fee income.

In the second quarter, the operating costs and costs of Shui Drop Company were 545.5 million yuan, a year -on -year decrease of 68.9%. Among them, operating costs were 244.6 billion yuan, a year -on -year decrease of 6.1%; sales and marketing costs were 144.4 million yuan, a year -on -year decrease of 88.4%; general and administrative expenses were 86.1 million yuan, a year -on -year decrease of 42.3%; R & D expenses were 70.4 million yuan, a year -on -year decrease of 29.8%.

In the second quarter, the net profit of water drops was 206.9 million yuan, which achieved profitability for three consecutive quarters. As of the end of the second quarter, the cash and cash equivalents of Shui Drop Company and the short -term investment balance were 3.288.1 billion yuan, an increase of 363.9 million yuan over the end of the first quarter.

Shui Di Company also announced that the board of directors has approved the expansion of the stock repurchase plan, authorized the company to repurchase US deposit shares with no more than 80 million US dollars in the next 12 months.

Shen Peng, chairman and CEO of Shui Drop Company, said: "In the second quarter, the company's major operating indicators showed a good trend, which made us confident in achieving the goal of achieving the overall profit of 2022." Shen Peng believes that China's Internet Internet There are huge opportunities in the field of insurance and medical and health services. In the future, water droplets will focus on core businesses, further improve operating efficiency, optimize cost structures, and achieve high -quality development.

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