Waterdrop appoints new independent director to board

Waterdrop Inc. appointed Ms. Qianfei Chang as an independent director of its board, effective July 1, 2026, replacing Mr. Heping Feng, who resigned for personal reasons and without any dispute or disagreement.

Rhea-AI Filing Summary

Waterdrop Inc. appointed Ms. Qianfei Chang as an independent director of its board, effective July 1, 2026, replacing Mr. Heping Feng, who resigned for personal reasons and without any dispute or disagreement. Ms. Chang will serve as chairman of the audit committee, and as a member of the compensation and nominating and corporate governance committees.

She brings over 15 years of experience in financial management, equity investment and audit oversight from roles at China Development Bank Capital, United Credit Ratings and PricewaterhouseCoopers. Ms. Chang is a Certified Public Accountant in China and holds advanced degrees from the Chinese University of Hong Kong and Tsinghua University.

Key Terms

independent director, audit committee, compensation committee, nominating and corporate governance committee, +1 more

5 terms

independent director financial

"announced the appointment of Ms. Qianfei Chang as an independent director of the Company’s board of directors"

An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.

audit committee financial

"the chairman of the audit committee of the Board"

A company's audit committee is a small group of board members who act like independent inspectors for the firm's finances, overseeing how financial reports are prepared, monitoring internal controls, and managing the relationship with external auditors. Investors care because a strong audit committee reduces the risk of accounting errors, fraud, or misleading statements, making financial statements more trustworthy and helping protect shareholder value.

compensation committee financial

"a member of the compensation committee of the Board"

A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.

nominating and corporate governance committee financial

"a member of the nominating and corporate governance committee of the Board"

A nominating and corporate governance committee is a group within a company's board of directors responsible for selecting and recommending individuals to serve as company leaders, such as directors or executives. They also develop and oversee policies to ensure the company is run fairly, ethically, and transparently. This committee matters to investors because it helps ensure the company is well-managed and guided by qualified, responsible leadership.

Certified Public Accountant financial

"Ms. Chang is a Certified Public Accountant in China"

A certified public accountant (CPA) is a licensed accounting professional who has passed rigorous exams and met education and experience requirements to prepare, review, and officially certify financial statements and tax filings. For investors, a CPA's involvement is like a neutral referee confirming that a company's reported numbers are accurate and follow accounting rules, which improves trust in financial reports and lowers the risk of unexpected errors or misleading information.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What board change did Waterdrop Inc. (WDH) announce in this 6-K?

Waterdrop Inc. announced that Ms. Qianfei Chang will join its board as an independent director, effective July 1, 2026, replacing Mr. Heping Feng, who resigned for personal reasons without any dispute or disagreement with the company.

What board roles will Ms. Qianfei Chang hold at Waterdrop Inc. (WDH)?

Ms. Qianfei Chang will serve as an independent director, chairman of the audit committee, and a member of both the compensation committee and the nominating and corporate governance committee, giving her significant oversight responsibilities in Waterdrop’s board structure.

Why did Mr. Heping Feng resign from Waterdrop Inc. (WDH)’s board?

Mr. Heping Feng resigned as an independent director and committee member due to personal reasons. The company stated clearly that his resignation was not the result of any dispute or disagreement with Waterdrop regarding its operations, policies, or practices.

What professional experience does Ms. Qianfei Chang bring to Waterdrop Inc. (WDH)?

Ms. Chang has over 15 years’ experience spanning financial management, equity investment, and audit oversight, including senior roles at China Development Bank Capital, sovereign credit rating work at United Credit Ratings, and audit experience at PricewaterhouseCoopers in Beijing.

What are Ms. Qianfei Chang’s academic and professional credentials relevant to Waterdrop Inc. (WDH)?

Ms. Chang is a Certified Public Accountant in China and holds an MBA in Finance from the Chinese University of Hong Kong, plus master’s and bachelor’s degrees in engineering from Tsinghua University, supporting her expertise in financial accounting and risk management.

How did Waterdrop Inc. (WDH)’s leadership describe Ms. Chang’s appointment?

Founder, Chairman and CEO Peng Shen welcomed Ms. Chang, highlighting her extensive experience in financial accounting, internal controls, risk management and capital markets, and expressed confidence that she will add substantial value as Waterdrop strengthens corporate governance and pursues long-term growth.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/23/2026 - 07:20 AM EDT Learn about SEC filing dates

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2026

Commission File Number 001-40376

Waterdrop Inc.

(Translation of registrant’s name into English)

No. 203 Wangjing Lize Zhongyuan Zone 2

Chaoyang District, Beijing

People’s Republic of China

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.  Form 20-F  x Form 40-F  ¨

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press Release—Waterdrop Inc. Announces Appointment of New Independent Director

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Waterdrop Inc.
	By:	/s/ Xiaoying Xu
	Name:	Xiaoying Xu
	Title:	Head of Finance
Date: June 23, 2026

Exhibit 99.1

Waterdrop Inc. Announces Appointment of New Independent Director

BEIJING, June 23, 2026 /PRNewswire/ -- Waterdrop Inc. (NYSE: WDH) (“Waterdrop” or the “Company”), a leading technology platform dedicated to insurance and healthcare services with a positive social impact, today announced the appointment of Ms. Qianfei Chang as an independent director of the Company’s board of directors (the “Board”), the chairman of the audit committee of the Board, a member of the compensation committee of the Board and a member of the nominating and corporate governance committee of the Board, replacing Mr. Heping Feng, effective July 1, 2026.

Mr. Feng has tendered his resignation as an independent director, a member of the audit committee of the Board, a member of the compensation committee of the Board and a member of the nominating and corporate governance committee of the Board due to personal reasons. The resignation of Mr. Feng was not due to any dispute or disagreement with the Company.

Ms. Qianfei Chang has served as General Manager and Finance Principal at Beijing Shuizhong Guanlang Culture and Media Co., Ltd. since August 2025. From July 2015 to July 2025, Ms. Chang served at China Development Bank Capital Co., Ltd., a national-level strategic investment platform and wholly owned subsidiary of China Development Bank. At China Development Bank Capital, Ms. Chang held several senior positions across core risk management functions, including Deputy General Manager of the Audit Department from June 2023 to July 2025, Deputy General Manager of the Investment Management Department from January 2022 to May 2023, and from July 2015 to December 2021, the core member of the Finance Department where her final position was Deputy General Manager. Prior to joining China Development Bank Capital, Ms. Chang served at United Credit Ratings Co., Ltd., a leading domestically regulated credit rating agency in China, from July 2013 to February 2015, where she was primarily responsible for sovereign credit rating analysis, independently conducting comprehensive assessments of macroeconomic conditions, fiscal health, sovereign debt, foreign exchange reserves, geopolitical risks, and financial system stability at the national level. From September 2008 to January 2011, Ms. Chang served at PricewaterhouseCoopers in Beijing, where she participated in annual financial statement audits and specialized internal control audits for multiple listed companies and large central state-owned enterprises.

Ms. Chang is a Certified Public Accountant in China and holds the title of Intermediate Economist.

Ms. Chang obtained her Master of Business Administration degree with a concentration in Finance from the Chinese University of Hong Kong in June 2013. She received her Master’s degree in Power Engineering and Engineering Thermophysics from Tsinghua University in July 2008 and her Bachelor’s degree in Vehicle Engineering from Tsinghua University in July 2006.

“On behalf of the Board and senior management, we are delighted to welcome Ms. Chang to our Board. Ms. Chang has over 15 years of distinguished experience in financial management, equity investment, and audit oversight at leading state-owned financial institutions and international professional services firms. We believe that her deep expertise in financial accounting, internal controls, risk management, and capital markets will be of tremendous value to the Company as we continue to strengthen our corporate governance and drive long-term growth. We look forward to working with Ms. Chang 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. Feng’s invaluable contributions and wishes him all the best in his future.”

About Waterdrop Inc.

Waterdrop Inc. (NYSE: WDH) is a leading technology platform dedicated to insurance and healthcare services 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

SOURCE Waterdrop Inc.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EXHIBIT 99.1 7.8 KB