Recently, CICC released a research report stating that Shuidi's 2023 Q1 revenue of 606 million yuan and non-GAAP net profit of 96 million yuan were in line with expectations. The new business digital clinical trial solution revenue grew rapidly, maintaining the stock's “outperform the industry” rating, corresponding to the target price of 3 US dollars, with room for 23.5% upward from the current stock price.

Shuidi's Q1 results showed that it was profitable for 5 consecutive quarters. As Shuidi increased its investment in customer acquisition in Q1 2023, sales and marketing expenses increased month-on-month, which will help Shuidi's insurance-related business grow.

Regarding Shuidi's strategic investment deal to invest in Deep Blue's parent company announced in early June, CICC analysts believe that using Deep Blue Insurance's business model and customer base, Shuidi can supplement Shuidi Insurance's business capabilities and expand its customer base, which will help enhance the company's long-term operating capacity.

Shuidi's revenue for the full year of 2022 was 2,802 million yuan and net profit was 608 million yuan. After announcing the 2023 Q1 results, Shuidi's management stated that in 2023, Shuidi will pursue higher quality growth under the premise of reasonable profit.

CICC predicts that Shuidi's revenue for the full year of 2023 will achieve year-on-year growth of 3.159 billion yuan, the company will maintain its profit trend, and net profit for 2023 is expected to be 215 million yuan. Maintaining the current trend, Shuidi will achieve both revenue and net profit growth in 2024.