Waterdrop Appoints Chen Lin as Independent Director to Enhance Governance and Strategic Growth

Waterdrop Inc. Appoints New Independent Director to Strengthen Governance

Waterdrop Inc. (NYSE: WDH), a leading technology platform dedicated to insurance and healthcare services, announces the appointment of Mr. Chen Lin as an independent director and audit committee member, effective March 11, 2025. Mr. Lin fills the position previously held by Mr. Ning Zhu, who resigns for personal reasons without any disputes with the company. With an extensive background in finance and academia, Mr. Lin's credentials include serving as Chair of Finance and Associate Vice President at The University of Hong Kong. His experience extends to being an independent non-executive director for various companies, showcasing his capacity to contribute to Waterdrop's strategic goals.

Mr. Lin's appointment is particularly significant as the company actively seeks to enhance its governance structures and leverage industry expertise to drive growth within the competitive insurance and healthcare sectors. Mr. Peng Shen, Waterdrop’s Founder and CEO, expresses enthusiasm about the value Mr. Lin will bring to the board. The appointment aligns with Waterdrop's commitment to improving operational efficiency and fostering innovation in its service offerings, which ultimately aim to positively impact people's lives. Mr. Lin's vast experience in finance and advisory roles, including his involvement with the Hong Kong government's Task Force on Promoting Web3 Development, positions him as an asset to Waterdrop as it navigates the evolving landscape of healthcare technology.

As Waterdrop continues to expand its initiatives, Mr. Lin's insights will be instrumental in guiding the company’s strategic direction. His wealth of knowledge in finance and governance complements Waterdrop's commitment to enhancing accessibility and quality of healthcare services. The appointment not only underscores Waterdrop's focus on better governance but also reflects its ambition to integrate innovative solutions that meet the diverse needs of its users.

In addition to the board appointment, Waterdrop recently reported strong financial results for the fourth quarter and full year of 2024, with a net profit of RMB 99.6 million—an impressive year-over-year growth of 68.7%. The company successfully expanded its crowdfunding initiative, enabling approximately 470 million individuals to donate around RMB 67.5 billion to 3.40 million patients. This growth is a testament to Waterdrop's commitment to leveraging technology for social good, enhancing its role in the healthcare ecosystem.

Furthermore, Waterdrop's recognition by China's Ministry of Civil Affairs as a pioneer in standardized medical crowdfunding solidifies its position as a trusted platform in the industry. This endorsement not only reinforces Waterdrop's commitment to improving healthcare accessibility but also highlights the potential for further innovation and growth in its service offerings, particularly in the face of evolving consumer demands.