Guoyuan International: Maintains Buy Rating on Shuidi (WDH.US), AI-Driven Rapid Performance Growth
According to Golden Ten Data, Shuidi Company (WDH.US) released its Q2 2026 results, after which Guoyuan International published a research report maintaining a Buy rating on Shuidi Company with a target price of $1.25. The report pointed out that Shuidi Company’s revenue grew rapidly this quarter, AI has been fully integrated into the full customer acquisition, underwriting, and claims chain, and in Q2, AI-assisted nearly 100 million yuan in incremental premiums. Looking ahead to 2026, the company’s revenue is expected to achieve high year-on-year growth, continuing an income-driven operating approach.
In Q2 2026, Shuidi Company’s revenue was 1.448 billion yuan, a year-on-year increase of 72.8%. Among this, insurance-related revenue in Q2 grew by 80.5% year-on-year. This was mainly due to enhanced risk assessment capabilities and growth in first-year premiums generated through the platform.
The research report analysis indicated that deep AI empowerment was the core driver of this quarter’s performance. The company has formed a three-tier AI structure of “front-end intelligent interaction, middle-end automated underwriting, and back-end data-based risk control.” In Q2, the AI system assisted in nearly 100 million yuan of incremental premiums, and first-year regular premium of long-term insurance grew 33.4% quarter-on-quarter.
In terms of product innovation, leveraging massive claims data accumulation and user demand insights, Shuidi has broken the static logic of traditional “one-size-fits-all” rejection of individuals with chronic illnesses, making it possible for users with pre-existing conditions to purchase insurance. This quarter, Shuidi launched the industry’s first long-term critical illness product “Rongyibao” with no health declaration required and a five-year guaranteed renewal, and added the industry’s first lifetime no health declaration required coverage for certain specified diseases—achieving an underwriting logic leap from “insuring healthy people” to “insuring more people.” Management stated at the results meeting that as the connection between basic medical insurance and commercial insurance data becomes gradually open, health insurance for people with pre-existing conditions is expected to evolve into a mass-market protection product similar to auto insurance, offering a vast market space.
In addition, Shuidi Company's Yifan Pharmaceuticals achieved better-than-expected growth, with patient enrollment increasing by 54% year-on-year this quarter, serving more than 17,000 people cumulatively. Enrollment in chronic disease trials grew 80% year-on-year, and AI matching reduced the recruitment cycle for pharmaceutical companies from weeks to days, accelerating the emergence of a second growth curve.
Shuidi Company founder and CEO Shen Peng said: “Shuidi has always regarded technology as the core engine of company development. Currently, AI capabilities have been deeply integrated into all business platforms, enabling us to more accurately seize the continuously growing market demand in our existing businesses, consolidating and enhancing our competitive barriers. In the future, we will continue to strengthen technology and AI capabilities, steadily advance business expansion, maintain strategic investment, and create long-term, sustainable value for shareholders.”
