SCHEDULE: Waterdrop Inc. Ownership Update: Gaorong, Banyan Funds Detail Stakes

Multiple investment entities, including Gaorong Technology and Banyan Partners funds, have filed an amended Schedule 13G detailing their beneficial ownership in Waterdrop Inc.'s Class A Ordinary Shares.

Summary

• Gaorong Technology Consulting Limited, along with its related entities (Suzhou Industry Park Gaorong Growth Investment Center (Limited Partnership), Xizang Gaorong Capital Management Co., Ltd., and Beijing Gaorong Capital Management Consulting Co., Ltd.), collectively report beneficial ownership of 74,814,973 Class A ordinary shares.
• This ownership by the Gaorong Technology group represents 2.66% of the outstanding Class A ordinary shares and approximately 0.75% of the aggregate voting power of Waterdrop Inc.
• Gaorong Group Holdings Limited reports beneficial ownership of 57,368,488 Class A ordinary shares, accounting for 2.04% of the Class A shares and 0.57% of the aggregate voting power.
• Banyan Partners Fund III, L.P. reports beneficial ownership of 79,807,311 Class A ordinary shares, which includes shares held by Gaorong Holdings (79.33% ownership) and 22,438,823 shares directly held by Banyan Fund III.
• Banyan Partners Fund III, L.P.'s stake represents 2.84% of the Class A ordinary shares and 0.80% of the aggregate voting power.
• Banyan Partners Fund III-A, L.P. directly holds 1,435,546 Class A ordinary shares, representing 0.05% of the Class A shares and 0.01% of the aggregate voting power.
• Banyan Partners III Ltd. (Banyan III GP), as the general partner of both Banyan Fund III and Banyan Fund III-A, reports aggregate beneficial ownership of 81,242,857 Class A ordinary shares, representing 2.89% of the Class A shares and 0.81% of the aggregate voting power.
• The reporting persons, in aggregate, beneficially own 5.54% of the outstanding Class A ordinary shares, 4.32% of the total outstanding ordinary shares, and 1.56% of the aggregate voting power of Waterdrop Inc.
• All percentages are calculated based on 2,814,720,121 Class A ordinary shares and 801,904,979 Class B ordinary shares issued and outstanding as of March 31, 2025, as reported in Waterdrop Inc.'s annual report on Form 20-F.
• Each Class A ordinary share is entitled to one vote, while each Class B ordinary share is entitled to nine votes; Class A shares are not convertible into Class B shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine disclosure of beneficial ownership, providing transparency without indicating any specific positive or negative operational or financial developments for Waterdrop Inc.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding Waterdrop Inc.'s future performance or operations.

Industry Context

StockSavvy.ai notes that Schedule 13G filings provide transparency into significant institutional holdings, which can signal investor confidence or strategic positioning within the insurance and healthcare technology sector, where Waterdrop Inc. operates.

Stakeholder Impact

• Shareholders: Provides updated information on significant institutional ownership, which can influence market perception and liquidity.
• Investors: Offers transparency into the ownership structure, aiding in investment analysis.

Key Dates

Keywords

Waterdrop Inc., WDH, Schedule 13G, beneficial ownership, Class A Ordinary Shares, institutional ownership, Gaorong Technology, Banyan Partners, SEC filing, investment funds