Waterdrop, Inc. ADR Class A (WDH.US) Releases 2025 ESG Report: Actively Fulfilling Corporate Social Responsibility, Having Built a Total of 191 Rural Clinics

On October 15, Waterdrop, Inc. ADR Class A (WDH.US) released its 2025 Environmental, Social and Governance (ESG) Report (hereinafter referred to as the "Report"), systematically disclosing the company's practices and achievements over the past year in areas including AI-driven technological innovation, optimizing products and services, focusing on talent development, and fulfilling corporate social responsibility. Currently, Waterdrop, Inc. ADR Class A's ESG rating has been upgraded to A+, firmly ranking among the industry leaders. According to the Report, in 2025, Waterdrop, Inc. ADR Class A firmly advanced its "All in AI" strategy and proposed evolving from "a tech company that uses AI" to "an AI-native tech company," significantly enhancing the efficiency and user experience of insurance and healthcare services. At the same time, leveraging its internet platform and digital technology advantages, the company focused on areas such as major illness fundraising, rural healthcare, education assistance, and emergency disaster relief, actively filling gaps where needs are most acute. Shen Peng, founder and CEO of Waterdrop, Inc. ADR Class A, said: "Artificial intelligence is reshaping the world at an unprecedented pace. We must continue to uphold our entrepreneurial spirit, enabling Waterdrop, Inc. ADR Class A's technology and services to adapt to the protection needs of families around the world, while staying committed to corporate social responsibility, using the power of technology to support social security, and fulfilling the era's mission of inclusive protection." AI Empowers the Entire Business Chain; Technological Innovation Collaborates with Industry Standards Co-construction As an insurtech and healthcare platform, Waterdrop, Inc. ADR Class A has always been committed to promoting integrated innovation of "AI + insurance protection + healthcare." In 2025, the company firmly advanced its "All in AI" strategy, relying on its self-developed Waterdrop, Inc. ADR Class A Shuishou large model and Shuishou AI capability system to build a complete product matrix covering intelligent underwriting, intelligent customer service, voice interaction, and AI Agent collaboration. Addressing pain points in health insurance underwriting such as non-standardized medical records, complex policy interpretation, and lengthy manual review cycles, Waterdrop, Inc. ADR Class A launched AI underwriting expert "KEYI.AI," which can provide second-level responses to professional questions including underwriting risk assessment, coverage recommendations, insurance policy interpretation, and claims process inquiries. According to the Report, KEYI.AI reduced the average processing time for complex health insurance underwriting by 80%, achieved an underwriting accuracy rate of 99.8%, increased underwriting response speed by 260 times, and raised the proportion of customers matched with suitable insurance products by 6 times. In terms of risk control for the fundraising business, in 2025, the Waterdrop, Inc. ADR Class A fundraising platform also introduced AI technology in risk management, building intelligent identification matrices for multiple high-risk scenarios. It conducts precise identification of fundraisers' sensitive identities, abnormal assets, and other related dimensions, greatly improving the accuracy and efficiency of platform risk identification and ensuring the authenticity and reliability of fundraising cases on the platform. It is understood that in 2025, Waterdrop, Inc. ADR Class A invested 233 million yuan in R&D, with cumulative applications for AI-related patents exceeding 100. In addition, as a specially invited drafting unit, Waterdrop, Inc. ADR Class A participated in the compilation of the group standard "Generative Artificial Intelligence Intellectual Property Guide," contributing corporate practical experience in generative AI development and implementation, intellectual property protection in compliance management, risk identification, and liability determination, helping to promote standardized innovation and risk governance in the generative AI industry. Building a Diversified Healthcare Assistance System; Insurance, Assistance, and Pharmaceutical Services Adapt to Differentiated Protection Needs Waterdrop, Inc. ADR Class A has been continuously focusing on the differentiated protection needs of the elderly, those with pre-existing conditions, and women, launching diversified inclusive products such as "Jie Hao Yun" and "disability insurance," promoting insurance product innovation, and enhancing the accessibility and inclusiveness of insurance products. In 2025, centered on the "Three Good Services" system of "good service, good products, good claims," the company launched 242 customized insurance products throughout the year. According to the Report, Waterdrop, Inc. ADR Class A's insurance claims for those with pre-existing conditions amounted to 55.9852 million yuan, a year-on-year increase of 46.83%. At the same time, as a personal fundraising online service platform designated by the Ministry of Civil Affairs, Waterdrop, Inc. ADR Class A Fundraising continues to leverage mobile internet technology to play its role in "providing emergency relief." Through social networks, it connects help-seekers with caring individuals, helping patients with major illnesses and their families obtain medical assistance. According to data in the Report, as of the end of 2025, a total of 490 million users had donated 72.3 billion yuan through Waterdrop, Inc. ADR Class A Fundraising to 3.68 million patients with major illnesses. In the health services sector, Yifan Pharma provides professional subject recruitment and management services for pharmaceutical R&D, and integrates resources such as health consultation, physical examination screening, and medical assistance to enhance comprehensive health life service capabilities. In 2025, Yifan Pharma enrolled a cumulative total of 14,555 patients, with 1,611 clinical trial projects, providing patients with more treatment options and hope. Deepening Government-Enterprise Collaboration and Public Welfare Practices; Improving the Multi-tiered Social Assistance and Support Network Waterdrop, Inc. ADR Class A is also actively participating in the construction of a multi-tiered medical security system, co-building major illness assistance service platforms such as "Jinqingbang" and "Haihuibang" with local government departments, becoming a beneficial supplement to the current social assistance system and medical security system. As of December 2025, "Jinqingbang" had cumulatively assisted 724 patients in difficulty in Jinyun County, with total assistance amounting to 16.2428 million yuan; "Haihuibang" had cumulatively assisted 2,915 patients in difficulty, with multi-tiered medical assistance funds reaching 58.5686 million yuan. The two platforms together leveraged nearly 75 million yuan in social assistance funds. Focusing on the challenge of weak rural primary healthcare resources, Waterdrop, Inc. ADR Class A continues to implement rural clinic public welfare projects, addressing shortcomings in primary healthcare facilities, enabling rural residents to access basic medical services nearby, and consolidating the health foundation for rural revitalization. As of the end of 2025, the Waterdrop, Inc. ADR Class A rural clinic project covered 20 provinces, municipalities, and autonomous regions across the country, with a cumulative total of 191 clinics built, benefiting over 500,000 people, effectively improving primary healthcare conditions and enhancing the accessibility of rural medical services. In addition, Waterdrop, Inc. ADR Class A continues to expand the boundaries of assistance, balancing routine social assistance with emergency response to sudden disasters, becoming a stable and reliable interface for assistance forces in the social assistance system. When facing various sudden disasters and assistance needs for special groups, the company takes the initiative and responds quickly. For example, in rescue and reconstruction efforts following the Tibet earthquake, North China rainstorms, and the Hong Kong fire, it was able to rapidly mobilize social caring forces to support frontline rescue. According to data in the Report, as of the end of 2025, the Waterdrop, Inc. ADR Class A public welfare platform had cumulatively raised 1.389 billion yuan, cooperated with 119 public fundraising charitable organizations, and launched over 15,500 public welfare projects.