Ping An of China (02318), net profit of 96.645 billion yuan in the first three quarters continued to deepen the development of a “comprehensive finance+medical care” two-wheel parallel, technology-driven strategy

Zhitong Finance App News, Ping An of China (02318) announced that in the first three quarters of 2026, the company will continue to deepen the development of a “comprehensive finance+medical care” two-round, technology-driven strategy, continuously consolidate comprehensive financial advantages, adhere to customer needs as the guide, and focus on promoting high-quality development. The Group's overall operations have remained steady. In the first three quarters of 2026, the Group achieved operating profit of 125.905 billion yuan, an increase of 8.3% over the previous year; operating income of 787.634 billion yuan; net profit attributable to shareholders of the parent company of 96.645 billion yuan; and basic earnings per share of 5.55 yuan. As of September 30, 2026, the Group's net assets to mother amounted to RMB 1044,366 billion, an increase of 4.4% over the beginning of the year.

The life insurance and health insurance business is developing steadily, and high-quality strategies are gradually being promoted. In the first three quarters of 2026, the operating profit of the life insurance and health insurance business was 87.238 billion yuan, an increase of 5.7% over the previous year. Diversified and collaborative development on the channel side, non-agent channels contributed 36.9% of new business value, an increase of 1.8 percentage points over the previous year, and continued to take advantage of multi-channel advantages. The product side actively optimizes the delivery structure and actively promotes the transformation of long-delivery products. The proportion of new agent channel businesses with long-term deliveries increased by more than 10 percentage points over the same period last year, and the business value increased steadily.

The scale of the property insurance business continues to grow, and the quality and efficiency of operations are steadily improving. In the first three quarters of 2026, Ping An Insurance's original insurance premium income was 265.215 billion yuan, up 3.5% year on year. Among them, NEV insurance's original insurance premium income increased 21.2% year on year; insurance service revenue was 263,035 billion yuan, up 3.8% year on year; and the overall comprehensive cost ratio was 95.6%, optimized by 1.4 percentage points year on year, and continued to maintain good profitability.

The investment performance of insurance funds was steady. As of September 30, 2026, the insurance fund portfolio was 6.83 trillion yuan, an increase of 5.2% over the beginning of the year. The average net return on investment in the past 10 years is 4.8%, and the average comprehensive return on investment in the past 10 years is 4.9%, which exceeds the assumption of long-term return on investment with included value.

The bank's revenue and profit both increased, the overall asset quality was stable, and the core tier 1 capital adequacy ratio increased. In the first three quarters of 2026, Ping An Bank achieved operating income of 103.10 billion yuan, an increase of 2.4% year on year; realized net profit of 39.186 billion yuan, an increase of 2.2% year on year. As of September 30, 2026, the non-performing loan ratio was 1.05%, and the provision coverage rate was 214.75%; the core Tier 1 capital adequacy ratio was 9.61%, up 0.25 percentage points from the beginning of the year.

Upgrade safe services, comprehensively enhance customer experience, and create 2026 safe service year. Ping An has created a “one sentence can do the job” fast service. As of September 30, 2026, the AI investigation office covered 90% of the Group's business scenarios and has been used by more than 150 million people, making it a reliable AI assistant for Ping An's active customers for about 97 million months. Ping An actively implements the “Healthy China” and “Actively Responding to Population Aging” national strategies, forwardly lays out a new circuit for brain health protection, and launched integrated brain health services for early screening, diagnosis, treatment, and protection of Alzheimer's disease in September 2026.

The comprehensive financial model establishes a core competitive advantage, and customer operating efficiency continues to improve. As of September 30, 2026, the number of Ping An individual customers was nearly 256 million, up 1.9% from the beginning of the year; the number of valued customers reached 41.51 million, an increase of 3.1% over the beginning of the year; and the customer retention rate of 3 or more products within the Group in the past 12 months reached 99%.

The medical and pension strategy continues to be implemented, and differentiated advantages empower the main business. Improve payment capacity. As of September 30, 2026, Ping An covered nearly 195,000 corporate customers. By improving the coverage network, Ping An has achieved 100% cooperative coverage between the top 100 hospitals and the top three hospitals in China; the number of cooperative pharmacies is nearly 250,000, supporting corporate health management customers to pay for offline drug purchases. Increase the usage of AI doctors. In the first three quarters of 2026, the number of AI doctors used nearly 13 million people. Strengthen the medical expert team and capacity building. In the first three quarters of 2026, Ping An added 42 national, provincial and municipal experts, and Peking University International Hospital completed the first non-invasive precise radiotherapy for lung cancer brain metastasis in China.

“AI in ALL” deepens implementation, and AI accelerates the creation of business value. In September 2026, the average daily consumption of tokens exceeded 330 billion dollars, an increase of more than 10 times over December 2025; the output of tokens per unit of computing power increased by 509%, and the cost per token decreased by 81%, supporting large-scale AI applications with greater efficiency and lower cost. For employees, the AI code penetration rate reached 80%, and the efficiency of AI operation pilot positions was increased by 25%. For customers, Express Service has accumulated more than 150 million users, and the AI end-to-end resolution rate has reached 91%. It is becoming the main entry point for comprehensive financial customer service; in the first three quarters of 2026, AI doctors used more than 62 million people, further improving their multidisciplinary capabilities for complex diseases, and continuing to create the “most professional AI doctor”.

Fulfill social responsibilities and serve green development and rural revitalization. In the first three quarters of 2026, Ping An Green Insurance's original insurance premium income was 64.196 billion yuan, and 40.794 billion yuan was provided to support rural industries through the “Three Villages Project”.