Shares of Chinese online insurance brokerage services provider Waterdrop Inc. (WDH) are falling more than 10% Thursday morning following wider net loss in the first quarter.
Net loss attributable to Waterdrop for the first quarter widened to RMB370.2 million or $56.5 million, compared with net loss of RMB120.7 million for the same period a year ago.
Net loss per share was RMB0.40 or $0.06 in the quarter compared with RMB0.15 in the same quarter previous year.
On an adjusted basis, loss attributable to Waterdrop was RMB203.1 million or $31.0 million compared with RMB106.5 million a year ago.
However, net operating revenue increased 35.1% year-over-year to RMB883.4 million or $134.8 million.
WDH is currently at $7.03. It has been trading in the range of $6.85- $11.77 in the last one year.
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