BEIJING, June 9, 2023
/PRNewswire/ -- Waterdrop Inc. ("Waterdrop", the "Company" or "we")
(NYSE: WDH), a leading technology platform dedicated to insurance
and healthcare service with a positive social impact, today
announced that it has entered into definitive transaction documents
in relation to the proposed acquisition of Shenzhen Cunzhen Qiushi
Technology Co., Ltd. and its subsidiaries (collectively, "Cunzhen
Qiushi", also known as "Shenlanbao").
Founded in 2018, Cunzhen Qiushi provides insurance
knowledge-based content and insurance product reviews through
multiple online channels to attract users, and convert them into
insurance consumers to generate commission. Pursuant to the
transaction documents, the Company will acquire up to 100% of the
equity interest of Cunzhen Qiushi for an aggregate consideration of
RMB360.0 million (subject to certain
price adjustment mechanisms) through multiple closings. The Company
will acquire 56% of the equity interest of Cunzhen Qiushi at the
first closing, which is expected to take place in June 2023. The Company will acquire 4% of the
equity interest of Cunzhen Qiushi at the second closing, which
is expected to take place within six months after the first
closing. The remaining 40% equity interest of Cunzhen Qiushi will
be acquired in three years, subject to certain closing
conditions.
Upon completion of the proposed acquisition, Cunzhen Qiushi will
become a wholly owned subsidiary of Waterdrop, and its financial
results will be consolidated into our consolidated financial
statements upon completion of the first closing of the proposed
acquisition.
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.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking" statements pursuant to the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "aims,"
"future," "intends," "plans," "believes," "estimates," "likely to"
and similar statements. Among other things, quotations in this
announcement, contain forward-looking statements. Waterdrop may
also make written or oral forward-looking statements in its
periodic reports to the Securities and Exchange Commission (the
"SEC"), in its annual report to shareholders, in press releases and
other written materials and in oral statements made by its
officers, directors or employees to third parties. Statements that
are not historical facts, including statements about Waterdrop's
beliefs, plans and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the risk and
uncertainties as to the timing of the consummation of the
acquisition; the risk that certain closing conditions of the
acquisition may not be satisfied on a timely basis, or at all;
potential adverse reactions or changes to business relationships
resulting from the announcement or completion of the acquisition;
adverse changes in general economic or market conditions; actions
by third parties, including government agencies, that may adversely
affect the proposed acquisition; Waterdrop's mission, goals and
strategies; Waterdrop's future business development, financial
condition and results of operations; the expected growth of the
insurance, medical crowdfunding and healthcare industry in
China; Waterdrop's expectations
regarding demand for and market acceptance of our products and
services; Waterdrop's expectations regarding its relationships with
consumers, insurance carriers and other partners; competition in
the industry and relevant government policies and regulations
relating to insurance, medical crowdfunding and healthcare
industry. Further information regarding these and other risks is
included in Waterdrop's filings with the SEC. All information
provided in this press release is as of the date of this press
release, and Waterdrop does not undertake any obligation to update
any forward-looking statement, except as required under applicable
law.
For investor inquiries, please contact:
Waterdrop Inc.
IR@shuidi-inc.com
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SOURCE Waterdrop Inc.
