Waterdrop Inc. Announces Appointment of New Independent Director

Rhea-AI Summary

Waterdrop Inc. (NYSE: WDH), a technology platform focused on insurance and healthcare services, has announced a significant board change. Mr. Chen Lin has been appointed as an independent director and audit committee member, effective March 11, 2025, replacing Mr. Ning Zhu who resigned for personal reasons.

Lin brings extensive academic and professional experience, serving as Chair of Finance and Stelux Professor at The University of Hong Kong since 2013 and Associate Vice President since 2023. He holds multiple independent directorships in various companies and serves on several prestigious committees, including the Hang Seng Index Advisory Committee and the Task Force on Promoting Web3 Development of Hong Kong.

The new director holds a PhD in economics, an MBA, and has significant expertise in finance and technology sectors. Waterdrop's CEO Peng Shen expressed confidence that Lin's professional background and industry expertise will contribute significantly to the company's mission.

Positive

• Appointment of highly qualified director with strong academic and financial expertise
• New director brings diverse experience from multiple board positions in technology and finance sectors
• Addition of director with significant regulatory and advisory committee experience in Hong Kong financial markets

Negative

• None.

News Market Reaction

+7.38%

1 alert

+7.38% News Effect

On the day this news was published, WDH gained 7.38%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

BEIJING, March 12, 2025 /PRNewswire/ -- Waterdrop Inc. (NYSE: WDH) ("Waterdrop" or the "Company"), a leading technology platform dedicated to insurance and healthcare service with a positive social impact, today announced the appointment of Mr. Chen Lin as an independent director and a member of the audit committee of the Company's board of directors (the "Board"), replacing Mr. Ning Zhu, effective March 11, 2025.

Mr. Ning Zhu has tendered his resignation as an independent director and a member of the audit committee of the Board due to personal reasons. The resignation of Mr. Zhu was not due to any dispute or disagreement with the Company.

Mr. Chen Lin has served at various positions at The University of Hong Kong, including as the Chair of Finance and Stelux Professor in Finance since August 2013, and Associate Vice President since January 2023. In addition, Mr. Lin has served as an independent non-executive director for several companies, including Artificial Intelligent Interconnection Technology Co., Ltd. since December 2024, Beijing 51WORLD Digital Twin Technology Co., Ltd. since September 2024, Shiyue Daotian Group Co., Limited (HKEX: 09676) since October 2023, Allianz Global Investors Fund Management Co., Ltd. since September 2023, CNCB (Hong Kong) Investment Limited since January 2022, and China Merchants Land Asset Management Co., Limited (the manager of China Merchants Commercial REIT (HKEX: 01503)) since December 2019.

Mr. Lin is a non-official member of the Task Force on Promoting Web3 Development of the Government of Hong Kong since July 2023, a Fellow of the Academy of Social Sciences, UK since March 2023, a Member of the Academia Europaea since June 2022, a member of the Hang Seng Index Advisory Committee since August 2021, a member of the Fintech Advisory Group of the Securities and Futures Commission since March 2021 and an advisory member of the Hong Kong Institute for Monetary and Financial Research of the Hong Kong Monetary Authority since June 2019. Mr. Lin also served as a member of the Currency Board Sub-Committee of the Exchange Fund Advisory Committee of Hong Kong from January 2017 to December 2022.

Mr. Lin obtained his PhD degree in economics in August 2006, master of arts degree in economics in August 2005 and master of business administration degree (MBA) in May 2004 from University of Florida in the United States. He received his bachelor's degree in engineering from South China University of Technology in July 2000.

"On behalf of the Board and senior management, we are delighted to welcome Mr. Lin to our Board. We believe that Mr. Lin's professional background and industry expertise will add significant value to the Company. We look forward to working with Mr. Lin as we continue to make a positive impact on people's lives," said Mr. Peng Shen, Founder, Chairman, and Chief Executive Officer of Waterdrop. "We would also like to extend our gratitude for Mr. Zhu's invaluable contributions and wishes him all the best in his future endeavors." 

About Waterdrop Inc.

Waterdrop Inc. (NYSE: WDH) is a leading technology platform dedicated to insurance and healthcare service with a positive social impact. Founded in 2016, with the comprehensive coverage of Waterdrop Insurance Marketplace and Waterdrop Medical Crowdfunding, Waterdrop aims to bring insurance and healthcare service to billions through technology. For more information, please visit www.waterdrop-inc.com.

For investor inquiries, please contact

Waterdrop Inc.
IR@shuidi-inc.com

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SOURCE Waterdrop Inc.

FAQ

Who is the new independent director appointed to Waterdrop's (WDH) board in March 2025?

Chen Lin was appointed as independent director and audit committee member of Waterdrop (WDH) on March 11, 2025.

What positions does Chen Lin hold at The University of Hong Kong?

Chen Lin serves as Chair of Finance and Stelux Professor in Finance since 2013, and as Associate Vice President since January 2023.

What notable committees is WDH's new director Chen Lin involved with in Hong Kong?

He serves on the Hang Seng Index Advisory Committee, the Task Force on Web3 Development, and is an advisory member of the Hong Kong Institute for Monetary and Financial Research.

Who did Chen Lin replace on Waterdrop's (WDH) board of directors?

Chen Lin replaced Mr. Ning Zhu, who resigned as independent director and audit committee member due to personal reasons.