Ping An Insurance (02318) reported a net profit attributable to shareholders of RMB96.645 billion for the first three quarters, as it continues to deepen its technology-driven strategy of advancing both "integrated finance" and "healthcare and elderly care" in parallel.

Ping An Insurance (02318) announced that in the first three quarters of 2026, the Company continued to deepen its technology-driven strategy of advancing "integrated finance + healthcare and elderly care" in parallel, continuously consolidated its integrated finance advantages, adhered to a customer-demand-oriented approach, and focused on promoting high-quality development. The Group's overall operations remained steady. In the first three quarters of 2026, the Group achieved operating profit attributable to shareholders of the parent company of RMB125.905 billion, up 8.3% year on year; operating income of RMB787.634 billion; net profit attributable to shareholders of the parent company of RMB96.645 billion; and basic earnings per share of RMB5.55. As of September 30, 2026, the Group's net assets attributable to the parent company stood at RMB1,044.366 billion, up 4.4% from the beginning of the year. The life insurance and health insurance business developed steadily, with the high-quality strategy gradually advancing. In the first three quarters of 2026, the life insurance and health insurance business recorded operating profit of RMB87.238 billion, up 5.7% year on year. Diversified and coordinated development was achieved on the channel side, with non-agent channels contributing 36.9% of new business value, up 1.8 percentage points year on year, continuously leveraging the advantages of multiple channels. On the product side, the Company proactively optimized the payment term structure and actively promoted the transition to long payment term products; the proportion of long payment term products in new business through the agent channel increased by more than 10 percentage points year on year, and business value steadily improved. The property insurance business continued to grow in scale, with operating quality and efficiency steadily improving. In the first three quarters of 2026, Ping An P&C's original insurance premium income reached RMB265.215 billion, up 3.5% year on year, of which original insurance premium income from new energy vehicle insurance grew 21.2% year on year; insurance service revenue was RMB263.035 billion, up 3.8% year on year; the overall combined ratio was 95.6%, optimized by 1.4 percentage points year on year, maintaining sound profitability. Insurance funds delivered steady investment performance. As of September 30, 2026, the insurance funds investment portfolio reached RMB6.83 trillion, up 5.2% from the beginning of the year. The average net investment yield over the past 10 years was 4.8%, and the average comprehensive investment yield over the past 10 years was 4.9%, exceeding the long-term investment return assumption embedded in value. The bank achieved growth in both revenue and profit, with overall stable asset quality and an improved core tier-1 capital adequacy ratio. In the first three quarters of 2026, Ping An Bank achieved operating income of RMB103.100 billion, up 2.4% year on year; and net profit of RMB39.186 billion, up 2.2% year on year. As of September 30, 2026, the non-performing loan ratio was 1.05%, the provision coverage ratio was 214.75%; and the core tier-1 capital adequacy ratio was 9.61%, up 0.25 percentage points from the beginning of the year. Ping An upgraded its services, comprehensively enhanced customer experience, and made 2026 the Ping An Service Year. Ping An built fast services that "get things done in one sentence." As of September 30, 2026, AI inquiry and handling covered 90% of the Group's business scenarios, with cumulative usage exceeding 150 million person-times, making it a reliable AI assistant for Ping An's approximately 97 million monthly active customers. Ping An actively implemented the national strategies of "Healthy China" and "proactively responding to population aging," made forward-looking arrangements in the new track of brain health protection, and in September 2026 launched integrated brain health services covering early screening, diagnosis and treatment, and protection for Alzheimer's disease. The integrated finance model built core competitive advantages, and customer operating efficiency continued to improve. As of September 30, 2026, Ping An had nearly 256 million individual customers, up 1.9% from the beginning of the year; the number of value customers reached 41.51 million, up 3.1% from the beginning of the year; and the retention rate of customers who held three or more product categories within the Group over the past 12 months reached 99%. The healthcare and elderly care strategy continued to be implemented, with differentiated advantages empowering the core business. Payment capacity was enhanced. As of September 30, 2026, Ping An covered nearly 195,000 corporate customers. The coverage network was improved. Ping An has achieved 100% cooperation coverage with the top 100 hospitals in China and Grade 3A hospitals; the number of partner pharmacies is nearly 250,000, supporting offline pharmacy purchase and QR code payment for corporate health management customers. AI doctor usage was increased. In the first three quarters of 2026, nearly 13 million people used AI doctors. The medical expert team and capacity building were strengthened. In the first three quarters of 2026, Ping An added 42 national, provincial, and municipal-level experts, and Peking University International Hospital completed China's first non-invasive precision radiotherapy for brain metastases from lung cancer. "AI in ALL" was further implemented, with AI accelerating the creation of business value. In September 2026, average daily Token consumption exceeded 330 billion, more than 10 times higher than in December 2025; Token output per unit of computing power increased by 509%, and cost per unit Token decreased by 81%, supporting large-scale AI application with higher efficiency and lower cost. For employees, AI code penetration reached 80%, and AI operations pilot positions improved efficiency by 25%. For customers, fast services recorded cumulative usage exceeding 150 million person-times, with an AI end-to-end resolution rate of 91%, and are becoming the main entry point for integrated finance customer service; in the first three quarters of 2026, AI doctor usage exceeded 62 million person-times, with further improvement in multidisciplinary capabilities for complex diseases, continuously building "the most professional AI doctor." Fulfilling social responsibility and serving green development and rural revitalization. In the first three quarters of 2026, Ping An's original insurance premium income from green insurance reached RMB64.196 billion, and it provided RMB40.794 billion in rural industry assistance funds through the "Three Villages Project."