Waterdrop (WDH) shares were up over 5% in Tuesday trading following its Q2 results and a new share repurchase program.

Earlier, the company reported a Q2 net profit attributable to its ordinary shareholders of 125.8 million Chinese renminbi ($18.5 million), down from 140.2 million renminbi a year ago.

Revenue for the three months ended June 30 was 1.45 billion renminbi, up from 838 million renminbi a year earlier.

The company said its board has approved a new program to repurchase up to $50 million of its American Depository shares through Sept. 10, 2027.

The firm also declared a dividend of $0.03 per ADS, payable Nov. 6 to stockholders of record Oct. 9.

Price: 1.08, Change: +0.06, Percent Change: +5.88