Waterdrop Inc. (NYSE:WDH) Q2 2022 Results Conference Call September 9, 2022 8:00 AM ET

Company Participants

Xiaojiao Cui - IR

Shen Peng - Founder, Chairman & CEO

Guang Yang - Co-Founder, Director and VP

Hu Yao - Co-Founder, Director and VP

Ran Wei - Partner

Zhu Zetao - Partner and General Manager of Medical Crowdfunding and Patient Services

Conference Call Participants

Michael Li - Bank of America

Qingqing Mao - CICC

(Transcript provided to Seeking Alpha by the company.)

Operator

Good morning, ladies and gentlemen, and thank you for standing by for Waterdrop Inc.'s Second Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the management's prepared remarks, there will be a Q&A session. As a reminder, today's conference call is being recorded.

I would now like to turn the meeting over to your host for today's call, Ms. Xiaojiao Cui. Please proceed, Ms. Xiaojiao.

Xiaojiao Cui

Thank you, operator. Hello, everyone. Thank you for joining Waterdrop second quarter 2022 earnings conference call. Please note that the discussion today will contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities and Litigation Reform Act of 1995.

Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include, but are not limited to those outlined in our public filings with the SEC. The Company does not undertake any obligation to update any forward-looking statements, except as required under applicable law.

Also, this call includes discussion of certain non-GAAP measures. Please refer to our earnings release for a reconciliation relation between non-GAAP and GAAP.

With us today on the call are Mr. Shen Peng, our Founder, Chairman and CEO; Mr. Yang Guang, Co-Founder, Director and VP; Mr. Hu Yao, Co-Founder, Director and VP; Mr. Ran Wei, our Partner; Mr. Zhu Zetao,, Partner and General Manager of Medical Crowdfunding and Patient Services. We will be available for a Q&A session after the remarks.

Now I would like to turn the call over to our CEO, Mr. Shen Peng. Please go ahead.

Shen Peng

Hello, everyone. Thank you for joining our second quarter 2022 earnings conference call. There have been a range of external challenges and uncertainties in this quarter. Demand for insurance products has been delayed, as a result of weakening consumer confidence caused by the COVID resurgence and other external factors. Despite these headwinds, Waterdrop is still firmly committed to being user centric, steadily developing its business and creating shareholder value. We also proactively explored new businesses opportunities in the evolving market environment.