Waterdrop Goes Public in the US.

Prospectus

Prospectus Link: https://www.sec.gov/Archives/edgar/data/1823986/000119312521154899/d95574d424b4.htm#rom95574_23

Core Highlights

  1. Profitability Status: This company, which occupies the highest moral ground, earned 14.4 billion RMB in 2020 alone, averaging 7,300 RMB per patient.
  2. Donation Status: As of December 31, 2020, over 340 million people have donated to Waterdrop Medical Crowdfunding for more than 1.7 million patients, accumulating over 37 billion RMB. The average donation amount per person is 100 RMB, and the average amount received per patient is 21,000 RMB. However, the actual amount received by patients may be less because the company needs to generate profits.
  3. Tencent’s Stake: Tencent currently beneficially owns 22.1% of Waterdrop.
  4. Tencent’s Earnings: In 2020, Tencent earned a total of 210 million RMB from Waterdrop through payment processing fees, advertising and marketing fees, and other sources.

Personal Reflection

Every company is ultimately driven by profit, regardless of how noble its banner may be. The world itself is extremely cruel.