{
 "as_of": "2026-11-08",
 "cmr": "us-cm-kg/NYSE/WDH",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# Waterdrop Inc. (NYSE: WDH) — research page\n\nAs of 2026-11-08 · us-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is Waterdrop Inc., listed on the NYSE under ticker WDH, with ISIN US94132V1052 and LEI 655600TO7NRHFZN44V92. Its security type is recorded as non-operating entity type (other), its sector as 6411 Insurance Agents, Brokers & Service, and its jurisdiction as Cayman Islands. Segment is not on the record. Listing status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 26 filings in the window 2025-11-08 to 2026-11-08, across 14 filing days. By type, the filings are 17 directors' dealings, 1 regulatory filing and 8 results. The median gap between filing days is 8 days. The latest filing is a results filing dated 2026-09-08, 61 days before the record date of 2026-11-08. The NYSE median for filings is 64.0 with a median cadence gap of 6.0 days and a median latency of 4.0 days; the issuer's figures are 26 filings, 8 days and 61 days. The sector median for filings is 72.5 with a median cadence gap of 4.8 days and a median latency of 3.5 days.\n\n## Auditor\n\nThe auditor is not on the record, as the latest annual report cover carries no auditor name tag. Its location is not on the record. The record holds no auditor changes.\n\n## Events and halts\n\nThe record holds no listing, delisting or name change lines. Domicile change is not on the record, as EDGAR states no dated change of state of incorporation on a filing line. Segment move is not on the record, as the exchanges' tier transfers are not EDGAR filings. The issuer is listed and not halted.\n\n## Orderability\n\nThe outcome is not determinable under rule version acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1, as the chapter's orderability section carries no client categories and so the outcome cannot name its client category. The chapter is as of 2026-11-04.\n\n## Coverage\n\nThe issuer's investor-relations page names 10 research houses: Goldman Sachs, Morgan Stanley, Merrill Lynch (Hong Kong), UOB Kay Hian, CLSA, CICC, China Securities, Guotai Junan International, Guotai Junan Securities and Guoyuan International.\n\n## Open research\n\nNo openly published research notes were found for the issuer.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe record holds the issuer's years 2021, 2022, 2023, 2024, 2025 and 2026 as sealed. The market's earliest sealed date is 2021-01-04. The live record began on 2026-09-12.\n\n## Sources\n\n9 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.sec.gov/files/company_tickers_exchange.json (identity.exchange)\n- https://www.sec.gov/data-research/sec-markets-data/fails-deliver-data (identity.isin)\n- https://data.sec.gov/submissions/CIK0001823986.json (identity.jurisdiction)\n- https://mapping.gleif.org/api/v2/isin-lei/latest/download (identity.lei)\n- https://mcp.us-cm-kg.ai/events/NYSE/WDH (the disclosure lines)\n- https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts (the halt flag)\n- https://mcp.us-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://ir.waterdrop-inc.com/Analyst-Coverage (coverage)\n- https://mcp.us-cm-kg.ai/record/NYSE/WDH (the record)\n",
 "market": "US",
 "node": "us-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [
    "2021",
    "2022",
    "2023",
    "2024",
    "2025",
    "2026"
   ],
   "live_record_began": "2026-09-12",
   "node_history_from": "2021-01-04",
   "node_years_sealed": [
    "2021",
    "2022",
    "2023",
    "2024",
    "2025",
    "2026"
   ],
   "record_version": 1,
   "sealed": true
  },
  "auditor": {
   "auditor": {
    "market": "US",
    "reason": "no dei:AuditorName tag on the latest annual report cover (foreign private issuers and older filings carry none)",
    "state": "not_on_record"
   },
   "auditor_firm_id": {
    "market": "US",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "US",
    "state": "not_on_record"
   },
   "changes": []
  },
  "cmr": "us-cm-kg/NYSE/WDH",
  "coverage": {
   "count": 10,
   "houses": [
    {
     "analyst": "Thomas Wang",
     "house": "Goldman Sachs",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-11",
     "source": "https://ir.waterdrop-inc.com/Analyst-Coverage",
     "state": "sourced"
    },
    {
     "analyst": "Jenny Jiang",
     "house": "Morgan Stanley",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-11",
     "source": "https://ir.waterdrop-inc.com/Analyst-Coverage",
     "state": "sourced"
    },
    {
     "analyst": "Michael Li",
     "house": "Merrill Lynch (Hong Kong)",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-11",
     "source": "https://ir.waterdrop-inc.com/Analyst-Coverage",
     "state": "sourced"
    },
    {
     "analyst": "Kenny Lim Yong Hui",
     "house": "UOB Kay Hian",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-11",
     "source": "https://ir.waterdrop-inc.com/Analyst-Coverage",
     "state": "sourced"
    },
    {
     "analyst": "Edwin Liu",
     "house": "CLSA",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-11",
     "source": "https://ir.waterdrop-inc.com/Analyst-Coverage",
     "state": "sourced"
    },
    {
     "analyst": "Qingqing Mao",
     "house": "CICC",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-11",
     "source": "https://ir.waterdrop-inc.com/Analyst-Coverage",
     "state": "sourced"
    },
    {
     "analyst": "Shifeng Cui",
     "house": "China Securities",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-11",
     "source": "https://ir.waterdrop-inc.com/Analyst-Coverage",
     "state": "sourced"
    },
    {
     "analyst": "Muyang Zhao",
     "house": "Guotai Junan International",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-11",
     "source": "https://ir.waterdrop-inc.com/Analyst-Coverage",
     "state": "sourced"
    },
    {
     "analyst": "Xinqi Liu",
     "house": "Guotai Junan Securities",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-11",
     "source": "https://ir.waterdrop-inc.com/Analyst-Coverage",
     "state": "sourced"
    },
    {
     "analyst": "Chengru Li",
     "house": "Guoyuan International",
     "read_by": "issuer IR page, fetched by this rail; each house name read on the page",
     "read_date": "2026-11-11",
     "source": "https://ir.waterdrop-inc.com/Analyst-Coverage",
     "state": "sourced"
    }
   ],
   "pages_checked": [
    {
     "page": "https://ir.waterdrop-inc.com/Analyst-Coverage",
     "result": "read: 10 of 34 named houses found on the page"
    }
   ],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-11",
   "since": "not stated on the page read",
   "state": "found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 3256,
     "median_cadence_gap_days": 6,
     "median_filings": 64,
     "median_latency_days": 4,
     "name": "NYSE"
    },
    "sector": {
     "issuers": 36,
     "median_cadence_gap_days": 4.8,
     "median_filings": 72.5,
     "median_latency_days": 3.5,
     "name": "6411 Insurance Agents, Brokers & Service"
    }
   },
   "by_type": {
    "directors_dealings": 17,
    "regulatory_filing": 1,
    "results": 8
   },
   "cadence_median_gap_days": 8,
   "filing_days": 14,
   "filings": 26,
   "latency_days": 61,
   "latest": [
    {
     "category": "6-K",
     "date": "2026-09-08",
     "source": "https://www.sec.gov/Archives/edgar/data/1823986/000110465926105667/tm2624924d1_6k.htm",
     "title": "6-K — FORM 6-K",
     "type": "results"
    },
    {
     "category": "6-K",
     "date": "2026-07-24",
     "source": "https://www.sec.gov/Archives/edgar/data/1823986/000110465926086636/tm2621269d1_6k.htm",
     "title": "6-K — FORM 6-K",
     "type": "results"
    },
    {
     "category": "3",
     "date": "2026-07-01",
     "source": "https://www.sec.gov/Archives/edgar/data/1823986/000110465926079980/xslF345X06/tm2619068-1_3seq1.xml",
     "title": "3 — OWNERSHIP DOCUMENT",
     "type": "directors_dealings"
    },
    {
     "category": "6-K",
     "date": "2026-06-23",
     "source": "https://www.sec.gov/Archives/edgar/data/1823986/000110465926076631/tm2618547d1_6k.htm",
     "title": "6-K — FORM 6-K",
     "type": "results"
    },
    {
     "category": "6-K",
     "date": "2026-06-17",
     "source": "https://www.sec.gov/Archives/edgar/data/1823986/000110465926074836/tm2618160d1_6k.htm",
     "title": "6-K — FORM 6-K",
     "type": "results"
    }
   ],
   "latest_filing_date": "2026-09-08",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.us-cm-kg.ai/events/NYSE/WDH",
   "window": {
    "from": "2025-11-08",
    "to": "2026-11-08"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "EDGAR company_tickers_exchange.json (SEC list of exchange-listed filers)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://www.sec.gov/files/company_tickers_exchange.json",
    "state": "sourced",
    "value": "NYSE"
   },
   "isin": {
    "read_by": "SEC Fails-to-Deliver data (CUSIP for the symbol) · ISIN = US + CUSIP + ISO 6166 check digit",
    "read_date": "2026-10-09",
    "read_date_basis": "last_seen",
    "source": "https://www.sec.gov/data-research/sec-markets-data/fails-deliver-data",
    "state": "sourced",
    "value": "US94132V1052"
   },
   "jurisdiction": {
    "read_by": "EDGAR submissions API (issuer header as filed) (stateOfIncorporation)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0001823986.json",
    "state": "sourced",
    "value": "Cayman Islands"
   },
   "lei": {
    "read_by": "GLEIF ISIN-to-LEI mapping file (daily), LEI by exact ISIN",
    "read_date": "2026-11-08",
    "read_date_basis": "the field",
    "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download (ISIN US94132V1052)",
    "state": "sourced",
    "value": "655600TO7NRHFZN44V92"
   },
   "name": {
    "read_by": "EDGAR submissions API (issuer header as filed)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0001823986.json",
    "state": "sourced",
    "value": "Waterdrop Inc."
   },
   "sector": {
    "read_by": "EDGAR submissions API (issuer header as filed) (SIC code as assigned by the SEC)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0001823986.json",
    "state": "sourced",
    "value": "6411 Insurance Agents, Brokers & Service"
   },
   "security_type": {
    "read_by": "EDGAR submissions API (issuer header as filed)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://data.sec.gov/submissions/CIK0001823986.json",
    "state": "sourced",
    "value": "Non-operating entity type (other)"
   },
   "segment": {
    "market": "US",
    "state": "not_on_record"
   },
   "ticker": {
    "read_by": "EDGAR company_tickers_exchange.json (SEC list of exchange-listed filers)",
    "read_date": "2026-11-08",
    "read_date_basis": "the record version as_of",
    "source": "https://www.sec.gov/files/company_tickers_exchange.json",
    "state": "sourced",
    "value": "WDH"
   },
   "website": {
    "market": "US",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": [],
   "domicile_change": {
    "market": "US",
    "reason": "EDGAR states no dated change of state of incorporation on a filing line",
    "state": "not_on_record"
   },
   "listing": [],
   "name_change": [],
   "segment_move": {
    "market": "US",
    "reason": "the exchanges' tier transfers are not EDGAR filings",
    "state": "not_on_record"
   }
  },
  "market": "US",
  "node": "us-cm-kg",
  "numbers_hash": "sha256:053f38aabdde06d5a779192e8be6446de1d055f4fe8e35f8bf6e259a57d30e90",
  "open_research": {
   "read_date": "2026-11-11",
   "rows": [],
   "state": "none_found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [],
   "determinable": false,
   "read": {
    "chapter": "https://mcp.us-cm-kg.ai/book/aio.json",
    "door": "https://mcp.us-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "reason": "the chapter's orderability section carries no client_categories: the outcome cannot name its client category",
   "rule_version": "acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1",
   "section": "us.aio.v8"
  },
  "record": {
   "as_of": "2026-11-08",
   "url": "https://mcp.us-cm-kg.ai/record/NYSE/WDH",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-08",
   "source": "https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:053f38aabdde06d5a779192e8be6446de1d055f4fe8e35f8bf6e259a57d30e90",
 "path": "/us/NYSE/WDH",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is Waterdrop Inc., listed on the NYSE under ticker WDH, with ISIN US94132V1052 and LEI 655600TO7NRHFZN44V92. Its security type is recorded as non-operating entity type (other), its sector as 6411 Insurance Agents, Brokers & Service, and its jurisdiction as Cayman Islands. Segment is not on the record. Listing status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 26 filings in the window 2025-11-08 to 2026-11-08, across 14 filing days. By type, the filings are 17 directors' dealings, 1 regulatory filing and 8 results. The median gap between filing days is 8 days. The latest filing is a results filing dated 2026-09-08, 61 days before the record date of 2026-11-08. The NYSE median for filings is 64.0 with a median cadence gap of 6.0 days and a median latency of 4.0 days; the issuer's figures are 26 filings, 8 days and 61 days. The sector median for filings is 72.5 with a median cadence gap of 4.8 days and a median latency of 3.5 days.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor is not on the record, as the latest annual report cover carries no auditor name tag. Its location is not on the record. The record holds no auditor changes.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "The record holds no listing, delisting or name change lines. Domicile change is not on the record, as EDGAR states no dated change of state of incorporation on a filing line. Segment move is not on the record, as the exchanges' tier transfers are not EDGAR filings. The issuer is listed and not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "The outcome is not determinable under rule version acm-68000/us/reasonable-basis-suitability-finra-rule-2111/r1, as the chapter's orderability section carries no client categories and so the outcome cannot name its client category. The chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "The issuer's investor-relations page names 10 research houses: Goldman Sachs, Morgan Stanley, Merrill Lynch (Hong Kong), UOB Kay Hian, CLSA, CICC, China Securities, Guotai Junan International, Guotai Junan Securities and Guoyuan International.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "No openly published research notes were found for the issuer.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The record holds the issuer's years 2021, 2022, 2023, 2024, 2025 and 2026 as sealed. The market's earliest sealed date is 2021-01-04. The live record began on 2026-09-12.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "9 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://www.sec.gov/files/company_tickers_exchange.json"
  },
  {
   "for": "identity.isin",
   "source": "https://www.sec.gov/data-research/sec-markets-data/fails-deliver-data"
  },
  {
   "for": "identity.jurisdiction",
   "source": "https://data.sec.gov/submissions/CIK0001823986.json"
  },
  {
   "for": "identity.lei",
   "source": "https://mapping.gleif.org/api/v2/isin-lei/latest/download"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.us-cm-kg.ai/events/NYSE/WDH"
  },
  {
   "for": "the halt flag",
   "source": "https://www.nasdaqtrader.com/rss.aspx?feed=tradehalts"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.us-cm-kg.ai/book/aio.json"
  },
  {
   "for": "coverage",
   "source": "https://ir.waterdrop-inc.com/Analyst-Coverage"
  },
  {
   "for": "the record",
   "source": "https://mcp.us-cm-kg.ai/record/NYSE/WDH"
  }
 ],
 "title": "Waterdrop Inc. (WDH) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}