Waterdrop Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	344.53	986.32	396.91	1,574	817.72	1,062
Short-Term Investments	1,105	1,613	2,997	2,130	1,969	1,193
Cash & Short-Term Investments	1,449	2,599	3,393	3,705	2,787	2,255
Cash Growth	-38.46%	-23.41%	-8.40%	32.92%	23.59%	120.06%
Accounts Receivable	1,572	1,336	1,266	1,126	1,207	1,364
Other Receivables	0.23	16.89	19.62	14.91	83.35	448.68
Receivables	1,573	1,353	1,286	1,141	1,291	1,813
Restricted Cash	534.13	520.59	577.12	517.36	667.66	261.39
Other Current Assets	-	166.01	170.29	327.92	287.5	203.21
Total Current Assets	3,765	4,638	5,426	5,691	5,033	4,533
Property, Plant & Equipment	280.04	286.9	93.73	49.84	103.84	89.42
Long-Term Investments	2,105	1,114	211.76	11.97	11.81	2.74
Goodwill	80.75	80.75	80.75	3.42	3.42	3.12
Other Intangible Assets	152.91	153.01	177.41	56.61	56.75	53.03
Long-Term Accounts Receivable	228.74	153.75	134.38	103.59	29.89	24.01
Long-Term Deferred Tax Assets	1.09	27.03	24.19	6.17	11.84	-
Total Assets	6,613	6,454	6,149	5,922	5,251	4,705
Accounts Payable	3.79	10.36	9.51	11.51	20.45	9.79
Accrued Expenses	1,374	1,090	1,041	915.11	1,001	1,084
Short-Term Debt	63	198.37	137.56	-	-	-
Current Portion of Leases	10.01	34.57	32.91	9.35	44.11	36.55
Current Income Taxes Payable	-	11.86	18.12	23.31	22.02	13.54
Current Unearned Revenue	-	-	-	-	0.8	22.02
Other Current Liabilities	-	139.74	130.56	162.41	160.87	105.16
Total Current Liabilities	1,451	1,485	1,370	1,122	1,249	1,271
Long-Term Leases	12.09	10.97	27.29	4.7	14.48	27.71
Long-Term Deferred Tax Liabilities	77.99	84.19	73.31	29.7	13.55	225.75
Total Liabilities	1,541	1,580	1,470	1,156	1,277	1,525
Common Stock	0.14	0.14	0.14	0.14	0.13	0.04
Additional Paid-In Capital	6,755	6,832	7,003	7,385	7,329	-
Retained Earnings	-1,788	-2,194	-2,562	-2,727	-3,335	-1,672
Treasury Stock	-0.02	-0.02	-0.01	-0	-	-
Comprehensive Income & Other	105.38	159.55	144.11	108.25	-21.49	14.96
Total Common Equity	5,073	4,797	4,586	4,766	3,973	-1,657
Minority Interest	-	76.13	92.76	-	-	-
Shareholders' Equity	5,073	4,874	4,678	4,766	3,973	3,180
Total Liabilities & Equity	6,613	6,454	6,149	5,922	5,251	4,705
Total Debt	85.1	243.92	197.76	14.06	58.59	64.26
Net Cash (Debt)	1,364	2,355	3,196	3,690	2,728	2,191
Net Cash Growth	-36.61%	-26.31%	-13.41%	35.26%	24.54%	123.23%
Net Cash Per Share	3.68	6.33	8.23	9.17	9.12	18.65
Filing Date Shares Outstanding	361.98	361.66	368.94	390.99	394.28	120.35
Total Common Shares Outstanding	361.98	362.48	370.16	390.99	394.28	120.35
Working Capital	2,315	3,153	4,057	4,569	3,784	3,261
Book Value Per Share	14.01	13.24	12.39	12.19	10.08	-13.77
Tangible Book Value	4,839	4,564	4,328	4,706	3,913	-1,713
Tangible Book Value Per Share	13.37	12.59	11.69	12.04	9.93	-14.23
Buildings	-	212.8	-	-	-	-
Machinery	-	23.89	24.45	22.53	27.97	20
Leasehold Improvements	-	46.26	43.71	37.77	32.05	22.16

Source: S&P Global Market Intelligence. Standard template. Financial Sources.