The insurance industry welcomes a new set of regulations, how does Ping An Health (01833) use managed care to create a new ecosystem of insurance + medical health?

Against the background of the rapid development of the economy and the increasingly prominent aging population trend, the integration of insurance with medical health and elderly care services has become an important direction for industry development. After a decade, the insurance industry is once again embracing the new "Insurance Industry Ten Measures". Recently, the State Council issued the "Opinions on Strengthening Supervision, Preventing Risks, and Promoting High-quality Development of the Insurance Industry" (hereinafter referred to as the "Opinions"), bringing new opportunities and challenges to the development of the insurance industry. The favorable policies for insurance + medical health and insurance + elderly care services mentioned in the "Opinions" have injected strong momentum into the industry's innovative development. Notably, as a company under Ping An Group focusing on medical health services, Ping An Healthcare (01833) has a highly compatible management-style medical strategy and policy direction, with the potential for further development under this policy background. The core of the management-style medical strategy lies in optimizing the cost and effectiveness of medical services by integrating medical service providers, payers, and patient resources. Ping An Healthcare has built a medical service network combining Wuxi Online Offline Communication Information Technology Co., Ltd., providing one-stop health management and medical services, including online consultations, medication delivery, chronic disease management, and family doctor services. This not only improves the efficiency and quality of medical services but also helps reduce overall medical costs. Measures such as "actively developing the third pillar pension insurance" and "expanding health insurance coverage" mentioned in the "Opinions" provide Ping An Healthcare with greater development space. Currently, Ping An Healthcare is actively cooperating with insurance companies to launch a series of innovative insurance products that combine medical services and health management, providing users with more comprehensive protection. For example, the "Ping An E-Life Insurance" series of products launched in cooperation between Ping An Healthcare and Ping An Insurance not only provide users with high medical protection but also provide users with convenient medical services and health management services through cooperation with Ping An Healthcare's online medical platform. Furthermore, the "Opinions" encourage the coordinated development of the insurance industry and the elderly care service industry, and Ping An Healthcare's layout in home elderly care services will be strengthened. In recent years, by actively responding to national policies, Ping An Healthcare has focused on "family doctors" and "elderly caregivers," integrating supplier resources around scenarios such as "medical care, housing, caring for the elderly, and entertainment," to provide comprehensive elderly care services for the elderly. For example, "Ping An Home Doctor" has launched a one-stop proactive health management service system called "11312" and a "trinity" elderly care service integrating intelligent butlers, life butlers, and doctor butlers, all of which are specific measures taken by PA GOODDOCTOR to deepen the whole scenario and proactive service experience. In terms of technological innovation, the "Opinions" propose to "improve the level of digital intelligence." The success of Ping An Healthcare's management-style medical strategy is inseparable from its strong technological capabilities and resource integration capabilities. The company has advanced internet technology and big data analysis capabilities to provide users with precise medical services and health management solutions. Additionally, the company actively cooperates with domestic and foreign medical institutions, insurance companies, technology companies, etc., to integrate resources from all parties to jointly build an ecosystem for the integration of insurance with medical health and elderly care services. On August 20, Ping An Healthcare issued its 2024 mid-term financial report. The financial report shows that Ping An Healthcare's total revenue in the first half of the year was 2.09 billion RMB, achieving profitability for the first time since its establishment, with a net profit exceeding 60 million RMB and an adjusted net profit close to 90 million RMB. This achievement is attributed to the company's steady development in strategic businesses, especially the significant growth in service revenue from insurance and financial clients (F-end) and enterprise clients (B-end). In future development, Ping An Healthcare will continue to deepen its management-style medical strategy, strengthen cooperation with insurance companies, medical institutions, and other parties, continuously innovate service models and products, and provide users with higher quality and more convenient medical health and elderly care services. At the same time, the company will actively respond to national policies, increase investment in the integration of insurance + medical health and insurance + elderly care services, and make greater contributions to promoting high-quality development of the insurance industry and addressing the challenges of an aging population.