Waterdrop (ADR) (WDH)
Connects insurance brokerage, medical crowdfunding, and clinical-trial patient recruitment in China.
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Operates an online insurance brokerage marketplace, medical-crowdfunding service, and E-Find clinical-trial patient recruitment platform in China. The insurance marketplace receives some traffic from medical crowdfunding.
Connects users directly with insurance products through its online insurance brokerage marketplace, while Waterdrop Medical Crowdfunding helps people seek financial assistance for medical costs. E-Find recruits patients for clinical-trial programs. Its insurance marketplace followed the group's 2016 acquisition of Shuidi Insurance Brokerage. The group began operating in 2016 and ended its Mutual Aid platform in 2021 to focus on core businesses.
Operations are concentrated in China, with substantially all employees there. The insurance marketplace receives some traffic from medical crowdfunding, and crowdfunding user acquisition substantially relies on sharing through Weixin.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 29, 2025 | Goldman Sachs | Target | Target: — | Target: $2 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $307.4M · Total debt $74.3M · Total assets $1.18B · Shareholders' equity $776.9M
- Revenue
- $216.4M
- Operating income
- $16.6M
- Net income
- $18.8M
Reported in CNY, converted at the latest exchange rate
HistoryDividendAnnual yieldUpcoming
| Institutions | 6.89% | 24.91M ADS | |
|---|---|---|---|
| 40 holders · as of Jun 30, 2026 | |||
| Other | 93.11% | 336.81M ADS | |
| remainder | |||
361.72M ADS as of Aug 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2022 annual report; nothing newer is on file here.
The share count has not been confirmed by a second filing; stakes use it as it stands.
Some positions are filed in underlying shares, not receipts; the ratio is unknown, so no percentage.
This company has 3 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Boundless Plain Holdings LtdInstitution | 3.18% | 11.49M ADS | as of Jun 30, 2026 |
Idg China Capital Fund Iii Associates L.P.Institution | 1.58% | 5.73M ADS | as of Jun 30, 2026 |
Morgan StanleyInstitution | 0.90% | 3.27M ADS | as of Jun 30, 2026 |
Baader Bank AktiengesellschaftInstitution | 0.44% | 1.60M ADS | as of Jun 30, 2026 |
Avenir Tech LtdInstitution | 0.24% | 859,202 ADS | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
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CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Waterdrop (ADR) | $1.05 | 0.00% | $383.4M | 0.7 | — | 0.5 | +82.4% |
| Huize (ADR) | $1.40 | +0.72% | $711.5K | 0.2 | — | 0.0 | +91.4% |
| AIFU | $8.55 | +2.15% | $65.0M | — | 0.3 | — | — |
| Median | 0.2 | 0.3 | 0.0 | +91.4% |