Waterdrop Inc. (NYSE: WDH) announced the appointment of Qianfei Chang as an independent director, effective July 1, 2026, according to a press release. Chang will also serve as chairman of the audit committee and as a member of both the compensation committee and the nominating and corporate governance committee.

Chang replaces Heping Feng, who resigned from the board due to personal reasons. The company stated the resignation was not related to any dispute or disagreement with Waterdrop.

Chang has served as General Manager and Finance Principal at Beijing Shuizhong Guanlang Culture and Media Co., Ltd. since August 2025. Before that, she spent a decade at China Development Bank Capital Co., Ltd., where she held senior roles including Deputy General Manager of the Audit Department from June 2023 to July 2025, and Deputy General Manager of the Investment Management Department from January 2022 to May 2023.

Earlier in her career, Chang worked at United Credit Ratings Co., Ltd. from July 2013 to February 2015, focusing on sovereign credit rating analysis. From September 2008 to January 2011, she worked at PricewaterhouseCoopers in Beijing on financial statement and internal control audits.

Chang holds a Master of Business Administration in Finance from the Chinese University of Hong Kong, a Master's degree in Power Engineering from Tsinghua University, and a Bachelor's degree in Vehicle Engineering, also from Tsinghua University. She is a Certified Public Accountant in China and holds the title of Intermediate Economist.