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Schedule 1 | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure |
Schedule 1 | WATERDROP INC. SCHEDULE 1-CONDENSED BALANCE SHEETS (All amounts in thousands, except for share and per share data, or otherwise noted)
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ | 2022 | ​ | 2023
​ |  | RMB |  | RMB |  | RMB
​ | ​ | ​ | ​ | ​ | ​ | ​
Assets |  |  |  |  |  |
Current assets |  |  |  |  |  |
Cash and cash equivalents |  | 351,817 |  | 134,265 |  | 18,911
Short-term investments |  | 310,799 |  | 557,753 |  | 78,558
Prepaid expense and other assets |  | 81,162 |  | 14,929 |  | 2,102
Amount due from its subsidiaries and the consolidated VIEs |  | 118,426 |  | 260,148 |  | 36,641
Total current assets |  | 862,204 |  | 967,095 |  | 136,212
Non-current assets |  |  |  |  |  | ​
Long-term investments and amount due from its subsidiaries and the consolidated VIEs (non-current) |  | 4,917,050 |  | 5,341,984 |  | 752,403
Total non-current assets |  | 4,917,050 |  | 5,341,984 |  | 752,403
Total assets |  | 5,779,254 |  | 6,309,079 |  | 888,615
Liabilities |  |  |  |  |  |
Current liabilities |  |  |  |  |  |
Accrued expenses and other current liabilities |  | 7,380 |  | 197 |  | 28
Amount due to its subsidiaries and the consolidated VIEs |  | 1,005,746 |  | 1,723,188 |  | 242,706
Total current liabilities |  | 1,013,126 |  | 1,723,385 |  | 242,734
Total liabilities |  | 1,013,126 |  | 1,723,385 |  | 242,734
Shareholders’ Equity: |  |  |  |  |  |
Ordinary shares (US$0.000005 par value; 10,000,000,000 shares authorized, 8,900,000,000 Class A ordinary shares authorized, 3,206,653,701 and 3,282,256,521 Class A ordinary shares issued as of December 31, 2022 and 2023, respectively, 3,108,040,681 and 2,899,717,031 Class A ordinary shares outstanding as of December 31, 2022 and 2023, respectively; 1,000,000,000 Class B ordinary shares authorized, 801,904,979 Class B ordinary shares issued and outstanding as of December 31, 2022 and 2023) |  | 135 |  | 139 |  | 20
Treasury stock |  | (3) |  | (12) |  | (2)
Additional paid-in capital |  | 7,384,670 |  | 7,003,423 |  | 986,411
Accumulated other comprehensive income |  | 108,245 |  | 144,107 |  | 20,297
Accumulated deficit |  | (2,726,919) |  | (2,561,963) |  | (360,845)
Total shareholders’ equity |  | 4,766,128 |  | 4,585,694 |  | 645,881
Total liabilities and shareholders’ equity |  | 5,779,254 |  | 6,309,079 |  | 888,615
​ WATERDROP INC. SCHEDULE 1-CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME (All amounts in thousands, except for share and per share data, or otherwise noted)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended December 31,
​ | ​ | 2021 | ​ | 2022 | ​ | 2023
​ |  | RMB |  | RMB |  | RMB |  | US$
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (Note 2)
Operating revenue, net |  | 2,279 |  | — |  | — |  | —
Operating costs and expenses |  | (250,814) |  | (153,603) |  | (87,060) |  | (12,262)
Interest income |  | 8,666 |  | 11,990 |  | 29,337 |  | 4,132
Foreign currency exchange (loss)/gain |  | (2,114) |  | 1,290 |  | (92) |  | (13)
Others, net |  | 4 |  | 17,097 |  | 3,077 |  | 433
Equity in (loss)/profit of subsidiaries and VIEs |  | (1,332,101) |  | 730,943 |  | 221,959 |  | 31,263
Net (loss)/profit |  | (1,574,080) |  | 607,717 |  | 167,221 |  | 23,553
Preferred shares redemption value accretion |  | (152,287) |  | — |  | — |  | —
Net (loss)/profit attributable to ordinary shareholders |  | (1,726,367) |  | 607,717 |  | 167,221 |  | 23,553
Foreign currency transaction adjustments |  | (36,640) |  | 129,563 |  | 37,413 |  | 5,270
Unrealized gains/(loss) on available-for-sale investments, net of tax |  | 192 |  | 174 |  | (1,551) |  | (218)
Total comprehensive (loss)/income attributable to ordinary shareholders |  | (1,610,528) |  | 737,454 |  | 203,083 |  | 28,605
​ WATERDROP INC. SCHEDULE 1-CONDENSED STATEMENTS OF CASH FLOW (All amounts in thousands, except for share and per share data, or otherwise noted)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended December 31,
​ | ​ | 2021 | ​ | 2022 | ​ | 2023
​ |  | RMB |  | RMB |  | RMB |  | US$
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (Note 2)
Cash Flows from Operating Activities: |  | 320,097 |  | 534,951 |  | 621,178 |  | 87,491
Cash Flows from Investing Activities: |  |  |  |  |  |  |  | ​
Purchase of short-term investments |  | (1,875,171) |  | (1,486,449) |  | (1,376,678) |  | (193,901)
Proceeds from maturity of short-term investments |  | 2,100,240 |  | 1,621,770 |  | 1,140,429 |  | 160,626
Investment in subsidiaries |  | (2,683,195) |  | (178,395) |  | (5,938) |  | (836)
Purchase of long-term investments | ​ | — | ​ | — | ​ | (57,550) | ​ | (8,106)
Prepaid investments |  | — |  | (69,426) |  | — |  | —
Net cash used in investing activities |  | (2,458,126) |  | (112,500) |  | (299,737) |  | (42,217)
Cash Flows from Financing Activities: |  |  |  |  |  |  |  |
Proceeds from exercise of share option |  | 2,971 |  | 9,729 |  | 11,710 |  | 1,649
Payment for share repurchase |  | (16,546) |  | (67,022) |  | (526,025) |  | (74,089)
Proceeds from initial public offering, net |  | 2,142,104 |  | — |  | — |  | —
Net cash provided by/(used in) financing activities |  | 2,128,529 |  | (57,293) |  | (514,315) |  | (72,440)
Effect of exchange rate changes on cash and cash equivalents |  | (14,162) |  | (21,824) |  | (24,678) |  | (3,475)
Net (decrease)/increase in cash and cash equivalents |  | (23,662) |  | 343,334 |  | (217,552) |  | (30,641)
Total cash and cash equivalents at beginning of year |  | 32,145 |  | 8,483 |  | 351,817 |  | 49,552
Total cash and cash equivalents at end of year |  | 8,483 |  | 351,817 |  | 134,265 |  | 18,911
​ ​ WATERDROP INC. SCHEDULE 1-CONDENSED STATEMENTS OF CASH FLOW (Continued) (All amounts in thousands, except for share and per share data, or otherwise noted)
1. | Schedule I has been provided pursuant to the requirements of Rule 12-04(a)and 5-04(c)of Regulation S-X,which require condensed financial information as to the financial position, changes in financial position and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year.
2. | The condensed financial information of Waterdrop Inc. has been prepared using the same accounting policies as set out in the accompanying consolidated financial statements except that the equity method has been used to account for investments in its subsidiaries.
3. | Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. The footnote disclosures contain supplemental information relating to the operations of the Group and, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Group as of December 31, 2022 and 2023 and the years ended 2021, 2022 and 2023. No dividend was paid by the Group’s subsidiaries to Waterdrop Inc. in 2021, 2022 and 2023.
4. | As of December 31, 2023, there were no material contingencies, significant provisions of long term obligations, and mandatory dividend or redemption requirements of redeemable shares or guarantees of the Group, except for those which have been separately disclosed in the Consolidated Financial Statement, if any.

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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