Zhitong Financial APP learned that on December 6th$Waterdrop (WDH.US)$Release unaudited third-quarter results for the year ended September 30, 2022. According to the data, Waterdrop Inc. 's operating income in the third quarter was 772 million yuan, an increase of 10.1 percent over the previous quarter, while operating costs and expenses decreased by 50.5 percent over the same period last year, with a net profit of 170 million yuan.
By the end of the third quarter, Waterdrop Inc. 's Waterdrop Inc. insurance platform provided customers with 536 insurance products, 82 more than at the end of the previous quarter. Waterdrop Inc. Insurance completed its first-year premium of 1.785 billion yuan in the third quarter, of which the first-year premium contributed by serious disease insurance products accounted for 28.7%, an increase of 7.8% over the previous quarter.
In the third quarter, Waterdrop Inc., the serious illness fund-raising platform of Waterdrop Inc. Company, earned 59 million yuan in service fees, which was used to cover part of the operating costs of Waterdrop Inc. 's fund-raising platform. Data show that the direct cost related to the operation of Waterdrop Inc. 's platform in the third quarter was 63.7 million yuan, higher than the service fee income in that quarter.
By the end of the third quarter, about 420 million users had donated more than 55.4 billion yuan of medical funds to more than 2.69 million patients through Waterdrop Inc., an increase of about 2.1 billion yuan from 53.3 billion yuan at the end of the second quarter.
In the third quarter, Waterdrop Inc. made a net profit of 170 million yuan, making a profit for four consecutive quarters. By the end of the third quarter, Waterdrop Inc. had cash and cash equivalents and short-term investment balance of 3.589 billion yuan, an increase of about 301 million yuan over the end of the second quarter.
According to the share repurchase program launched in September 2021 and revised in September 2022, Waterdrop Inc. has repurchased approximately 5.8 million American depositary shares in cash from the open market as of September 30, 2022, with a total price of approximately $8.5 million.