Welcome to our dedicated page for Waterdrop SEC filings (Ticker: WDH), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Waterdrop Inc. (NYSE: WDH) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as a foreign private issuer. Waterdrop files current reports on Form 6-K under the Securities Exchange Act of 1934, which include press releases on unaudited quarterly financial results and other material updates.
In its 6-K filings, Waterdrop presents information on net operating revenue, segment performance for Insurance, Crowdfunding, and Others, and details of insurance-related income, crowdfunding service fees, and digital clinical trial solution income. These filings also describe operating costs and expenses, operating profit, interest income, income tax expense, and net profit attributable to ordinary shareholders, along with non-GAAP measures such as adjusted net profit and cash position definitions.
Some 6-K reports address board and management composition changes, outlining resignations and appointments of directors and senior managers and clarifying that such changes do not involve disagreements on business, finance, or accounting matters. Other filings attach press releases that discuss share repurchase programs, cash dividends, and the organization of Waterdrop’s operating segments.
On Stock Titan, users can review these SEC filings with AI-powered summaries that explain the key points of each document, helping interpret segment disclosures, capital management actions, and operational trends without reading every line of the original text. Real-time updates from EDGAR ensure that new 6-K submissions and related exhibits are available promptly, while dedicated views make it easier to track recurring disclosures such as quarterly financial updates and governance changes for WDH.
Waterdrop Inc.’s Head of Finance, Xu Xiaoying, has reported her beneficial ownership of Class A ordinary shares. The report lists 600,000 Class A ordinary shares held directly, along with several restricted share unit (RSU) awards that are issued or issuable as they vest over time.
One RSU grant covers 4,500,000 Class A ordinary shares awarded on March 25, 2023, of which 2,025,000 shares have vested, with the remainder vesting in installments on March 25, 2026 and March 25, 2027. A second grant covers 1,000,000 shares awarded on April 1, 2024, with 400,000 shares vested and the balance vesting on March 1, 2027 and March 1, 2028. Additional RSU grants for 553,820 and 700,000 shares, awarded on March 1, 2025 and February 24, 2026, are scheduled to vest in installments between April 1, 2026 and February 1, 2030.
Waterdrop Inc. director Guan Wenjie has filed an initial statement of beneficial ownership on Form 3. This filing shows there are no reported transactions and no share or derivative positions listed for the reporting person at this time.
Waterdrop Inc. director and Head of Insurance Business Ran Wei filed an initial Form 3 reporting his ownership of Class A ordinary shares and equity awards. He has voting and disposal power over 11,088,000 Class A ordinary shares held by Christmastrees Holdings Limited, where he is the sole director.
The filing notes his indirect pecuniary interest in 1,000,000 Class A ordinary shares held by Ark Trust (Hong Kong) Limited, while he disclaims beneficial ownership except to that extent. It also details multiple restricted share unit awards, including 1,416,660 and 2,083,340 Class A ordinary shares that have fully vested, as well as additional awards of 56,340, 500,000 and 1,200,000 shares that are issued or issuable under vesting schedules extending to dates such as January 1, 2027, March 1, 2028 and February 1, 2030.
The Form 3 further reports fully vested share options covering 200,000 Class A ordinary shares, granted on March 25, 2021, with an exercise price of US$0.08 per share.
Waterdrop Inc. filed an initial insider ownership report for Head of R&D ZHOU Xiaobo, detailing existing equity awards rather than new market trades. The filing shows share options covering 600,000 Class A ordinary shares with an exercise price of US$0.08 per share, all fully vested.
It also lists multiple restricted share unit (RSU) grants, including 800,000 Class A ordinary shares granted on March 25, 2022 that are fully vested, and 800,000 granted on October 1, 2022, with 520,000 already vested and the rest vesting on October 1, 2026. Additional RSU awards cover 1,500,000 shares from a December 25, 2023 grant vesting through December 1, 2027, 600,000 shares from an April 1, 2024 grant vesting through March 1, 2028, 537,180 shares from a March 1, 2025 grant vesting through April 1, 2029, and 600,000 shares from a February 24, 2026 grant vesting through February 1, 2030.
Waterdrop Inc. director Lin Chen filed an initial ownership report showing holdings of 220,000 Class A ordinary shares. These shares were issued upon the vesting of restricted share unit awards that were granted on March 25, 2025 and are now fully vested.
Waterdrop Inc. director and CEO Shen Peng filed an initial statement of beneficial ownership, detailing his indirect holdings in the company. The filing shows 4,000 Class A ordinary shares held by First Principles Z Holdings Limited, where Shen is the sole director with sole voting and disposal power. It also lists 801,904,979 Class B ordinary shares held by Neptune Max Holdings Limited, a British Virgin Islands company that Shen controls as sole director and is deemed to beneficially own through a family trust he established.
Waterdrop Inc. executive Li Jieru, VP of Finance and Head of Strategy and Capital Markets, has filed an initial statement of beneficial ownership of Class A ordinary shares and related equity awards.
The filing lists share options covering 375,000 and 275,000 Class A ordinary shares, with options granted on March 25, 2021 carrying an exercise price of US$0.08 per share. It also details restricted share units representing 400,000, 1,800,000, 646,410 and 500,000 Class A ordinary shares, some of which have already vested and the rest scheduled to vest between October 1, 2026 and February 1, 2030.
Investment entities affiliated with Gaorong and Banyan have updated their beneficial ownership in Waterdrop Inc.'s Class A ordinary shares. Taken together, the reporting persons beneficially own 5.54% of the outstanding Class A shares, 4.32% of total ordinary shares and 1.56% of aggregate voting power.
The positions are held through several layered vehicles, including Gaorong Technology Consulting Limited, Suzhou Gaorong, Xizang Gaorong, Beijing Gaorong, Gaorong Group Holdings, Banyan Partners Fund III, Banyan Partners Fund III-A and Banyan Partners III Ltd. The filing details shared voting and dispositive power structures and includes multiple disclaimers that each entity may be deemed to beneficially own shares held by related entities but disclaims group status.
Ownership percentages are calculated using 2,814,720,121 Class A shares and 801,904,979 Class B shares outstanding as of March 31, 2025, as disclosed in Waterdrop’s Form 20-F. Class A shares carry one vote each, while Class B shares carry nine votes and are convertible into Class A shares.
Waterdrop Inc reported changes to its board and senior management. Mr. Guang Yang resigned as director, vice president of finance and general manager of international business due to personal reasons, effective December 2, 2025, and the company stated his departure does not involve any disagreement over its business, finance, accounting or other affairs.
Ms. Xiaolei Sun, vice president of human resources and organization development, has been appointed as a new director. At the same time, Ms. Jieru Li, previously Board secretary and head of strategy and capital markets, has been appointed as vice president of finance, overseeing accounting, financial and internal control matters. The company highlighted Ms. Li’s prior experience in private equity, strategic investment and consulting, as well as her finance degree from Tsinghua University and MBA from Columbia Business School.