Waterdrop Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	483	986.32	396.91	1,574	817.72
Short-Term Investments	530.67	1,613	2,997	2,130	1,969
Cash & Short-Term Investments	1,014	2,599	3,393	3,705	2,787
Cash Growth	-61.00%	-23.41%	-8.40%	32.92%	23.59%
Accounts Receivable	2,067	1,336	1,266	1,126	1,207
Other Receivables	0.21	16.89	19.62	14.91	83.35
Receivables	2,068	1,353	1,286	1,141	1,291
Prepaid Expenses	251.08	-	-	-	-
Restricted Cash	648.45	520.59	577.12	517.36	667.66
Other Current Assets	-	166.01	170.29	327.92	287.5
Total Current Assets	3,981	4,638	5,426	5,691	5,033
Property, Plant & Equipment	279.65	286.9	93.73	49.84	103.84
Long-Term Investments	2,284	1,114	211.76	11.97	11.81
Goodwill	80.75	80.75	80.75	3.42	3.42
Other Intangible Assets	177.14	153.01	177.41	56.61	56.75
Long-Term Accounts Receivable	295.52	153.75	134.38	103.59	29.89
Long-Term Deferred Tax Assets	2.87	27.03	24.19	6.17	11.84
Total Assets	7,101	6,454	6,149	5,922	5,251
Accounts Payable	9.32	10.36	9.51	11.51	20.45
Accrued Expenses	1,825	1,090	1,041	915.11	1,001
Short-Term Debt	47	198.37	137.56	-	-
Current Portion of Leases	10.89	34.57	32.91	9.35	44.11
Current Income Taxes Payable	-	11.86	18.12	23.31	22.02
Current Unearned Revenue	-	-	-	-	0.8
Other Current Liabilities	-	139.74	130.56	162.41	160.87
Total Current Liabilities	1,892	1,485	1,370	1,122	1,249
Long-Term Leases	12.64	10.97	27.29	4.7	14.48
Long-Term Deferred Tax Liabilities	43.8	84.19	73.31	29.7	13.55
Total Liabilities	1,949	1,580	1,470	1,156	1,277
Common Stock	0.14	0.14	0.14	0.14	0.13
Additional Paid-In Capital	6,734	6,832	7,003	7,385	7,329
Retained Earnings	-1,626	-2,194	-2,562	-2,727	-3,335
Treasury Stock	-0.02	-0.02	-0.01	-0	-
Comprehensive Income & Other	43.62	159.55	144.11	108.25	-21.49
Total Common Equity	5,152	4,797	4,586	4,766	3,973
Minority Interest	-	76.13	92.76	-	-
Shareholders' Equity	5,152	4,874	4,678	4,766	3,973
Total Liabilities & Equity	7,101	6,454	6,149	5,922	5,251
Total Debt	70.53	243.92	197.76	14.06	58.59
Net Cash (Debt)	943.14	2,355	3,196	3,690	2,728
Net Cash Growth	-59.95%	-26.31%	-13.41%	35.26%	24.54%
Net Cash Per Share	2.54	6.33	8.23	9.17	9.12
Filing Date Shares Outstanding	361.29	361.66	368.94	390.99	394.28
Total Common Shares Outstanding	361.29	362.48	370.16	390.99	394.28
Working Capital	2,088	3,153	4,057	4,569	3,784
Book Value Per Share	14.26	13.24	12.39	12.19	10.08
Tangible Book Value	4,894	4,564	4,328	4,706	3,913
Tangible Book Value Per Share	13.55	12.59	11.69	12.04	9.93
Buildings	-	212.8	-	-	-
Machinery	-	23.89	24.45	22.53	27.97
Leasehold Improvements	-	46.26	43.71	37.77	32.05

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