XML 57 R36.htm IDEA: XBRL DOCUMENT v3.25.1

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Summary of Significant Accounting Policies

Schedule of the assets, liabilities, results of operations and cash flows of the VIEs and their subsidiaries

​

​	​	​	​	​
​		As of December 31,
​		2023		2024
​	​	RMB	​	RMB
ASSETS	​
Current assets	​
Cash and cash equivalents	​	119,319		210,351
Restricted cash	​	577,121		520,588
Short-term investments	​	558,299		170,339
Accounts receivable, net of allowance of RMB19,140 and RMB28,404 (US$3,891) as of December 31, 2023 and 2024, respectively	​	570,942		537,848
Current contract assets	​	570,621		614,036
Other current assets	​	151,491		129,909
Total current assets	​	2,547,793		2,183,071
Non-current assets	​	​		​
Non-current contract assets	​	133,318		149,855
Intangible assets, net	​	174,113		149,846
Deferred tax assets	​	24,190		27,028
Goodwill	​	80,751	​	80,751
Other non-current assets	​	32,438		39,426
Total non-current assets	​	444,810		446,906
Total assets	​	2,992,603		2,629,977
LIABILITIES	​	​		​
Current liabilities	​	​		​
Insurance premium payables	​	591,953		537,344
Accrued expenses and other current liabilities	​	490,698		534,932
Amount due to related parties	​	—		253
Current lease liabilities	​	10,114		13,232
Total current liabilities	​	1,092,765		1,085,761
Total non-current liabilities	​	76,506		90,007
Total liabilities	​	1,169,271		1,175,768

​

​	​	​	​	​	​	​
​		Year Ended December 31,
​		2022		2023		2024
​	​	RMB	​	RMB	​	RMB
Operating revenue, net	​	2,623,738		2,331,678		2,312,629
Net income	​	1,210,591		697,935		676,950
Net cash provided by operating activities	​	1,285,615		804,351		682,317
Net cash provided by/(used in) investing activities	​	347,543		(681,995)		380,895
Net cash used in financing activities	​	—		—		—

Schedule of estimated useful life and residual value

​

​	​	​	​	​	​
Category		Estimated useful life		Residual value
Office furniture and equipment		5 years		5	%
Computer and electronic equipment		3 years		5	%
Leasehold improvements		shorter of remaining lease period and estimated useful life		Nil	​
Software	​	10 years	​	Nil	​
Office buildings		25 years		5	%

Schedule of carrying amount of goodwill

​

​	​	​	​	​	​	​
​		Insurance		Others		Total
​	​	RMB	​	RMB	​	RMB
Balances at January 1, 2022		1,248		2,172		3,420
Additions		—		—		—
Balances at December 31, 2022		1,248		2,172		3,420
Additions		77,331		—		77,331
Balances at December 31, 2023		78,579		2,172		80,751
Additions		—		—		—
Balances at December 31, 2024		78,579		2,172		80,751

Schedule of redeemable non-controlling interests

​

​	​	​	​	​
​		2023		2024
​	​	RMB	​	RMB
Balance as of January 1		—	​	92,760
Acquisition of redeemable non-controlling interest		96,296	​	—
Net loss attributable to mezzanine equity classified as non-controlling interest		(3,536)	​	(16,627)
Balance as of December 31		92,760	​	76,133

Schedule of disaggregation of revenue

​

​	​	​	​	​	​	​
​		Year Ended December 31,
​		2022		2023		2024
​	​	RMB	​	RMB	​	RMB
Operating revenue	​
Insurance brokerage income	​
Short-term insurance brokerage income	​	1,628,902		1,381,855		1,309,432
Long-term insurance brokerage income	​	714,426		823,305		1,013,406
Subtotal	​	2,343,328		2,205,160		2,322,838
Technical service income	​	215,832		135,755		40,939
Crowdfunding service fees	​	155,803		162,683		267,650
Digital clinical trial solution income	​	59,456		100,496		91,066
Other revenues	​	27,349		26,613		49,328
Total	​	2,801,768		2,630,707		2,771,821

Schedule of contract assets

​

​	​	​	​	​
​		December 31,		December 31,
​	​	2023	​	2024
​	​	RMB	​	RMB
Contract assets		707,636		773,790
Less: Allowance for uncollectible accounts		(382)		(605)
Total		707,254		773,185

Schedule of allowance for uncollectible accounts

​

​	​	​	​	​
​		As of December 31,
​		2023		2024
​	​	RMB	​	RMB
Balance at beginning of year		—		(382)
Impact of adoption of ASC 326		(185)		—
Addition		(197)		(223)
Balance at end of the year		(382)		(605)

Schedule of concentration of credit risk

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31,

​

​

2022

2023

2024

​

​

RMB

%

​

RMB

%

​

RMB

%

Customer A

320,660

11.44

%

*

*

​

*

*

​

Customer B

357,202

12.75

%

*

*

​

*

*

​

​

​	​	​	​	​	​	​	​	​	​
​		As of December 31,
​	​	2023				2024
​	​	RMB		%	​	RMB		%
Customer C		168,394		12.02	%	*		*	​
Customer D		*		*	​	234,744		15.76	%

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allowance for credit loss on right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

+ Details

Name:	us-gaap_ContractWithCustomerAssetAllowanceForCreditLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

+ Details

Name:	us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity.

+ References

No definition available.

+ Details

Name:	us-gaap_RedeemableNoncontrollingInterestTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Name:	us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-5A

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-9

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-4

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-6

+ Details

Name:	us-gaap_ScheduleOfVariableInterestEntitiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-21

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-20

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 18
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-18

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-20

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-16

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-21

+ Details

Name:	us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the estimated useful lives of the entity's property, equipment and software.

+ References

No definition available.

+ Details

Name:	wdh_ScheduleOfEstimatedUsefulLifeAndResidualValueTableTextBlock
Namespace Prefix:	wdh_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration