期内，公司深入推进"医险协同"模式，深耕"保险+医养会员"服务体系，提升产品与服务竞争力，强化 与金融端支付方的合作广度与深度。截至6月末，平安集团近2.47亿个人客户中，有近63%的客户同时 享有医疗养老生态圈提供的服务权益，其客均合同数、客均AUM分别为不享有该生态圈服务权益的个 人客户的1.5倍、4.1倍。同时，2025年上半年，享有医疗养老生态圈服务权益的客户覆盖平安人寿新业 务价值占比近7成。居家养老方面，报告期内，公司重点打磨医疗服务、健康管理、急难救援、远程照 护等服务，并携手产、学、研制定并发布两项智慧养老平台团体标准，推动居家养老行业规范化发展。 截至报告期末，居家养老服务权益用户数较2024年末增长41%。 10月23日，平安健康医疗科技有限公司（股票简称"平安好医生"，1833.HK）公布截至2025年9月30日 止九个月期间业绩。2025年是中国"十四五"规划的收官之年，也是健康中国战略深入推进的关键一年。 前三季度，在政策深化、技术迭代、需求升级的多种因素驱动下，中国大健康产业呈现稳健增长、创新 驱动发展态势。香港上市公司平安好医生作为平安集团医疗养老生态旗舰成员，始终秉持从用户需求 ...

Core Insights - Ping An Good Doctor (01833.HK) reported a total revenue of RMB 3.7246 billion for the nine months ending September 30, 2025, representing a year-on-year growth of 13.6%, with adjusted net profit reaching RMB 216.1 million, up 45.7% from the previous year [1] Group 1: Business Performance - The company's F-end and B-end corporate health management business revenue grew by 21.5% year-on-year [1] - The number of corporate clients served exceeded 4,500, with B-end paying users increasing by 30.6% compared to the previous year [1] Group 2: Service Model and AI Integration - The company is collaborating with Ping An Group to create a comprehensive service model combining commercial insurance, health protection, and medical services, enhancing corporate employee health management [2] - Family doctor services have reached over 40 million users, supported by a certified team and AI capabilities [2] - The home care service user base grew by 41% compared to the end of 2024, focusing on a warm "insurance + home care" service model [2] Group 3: AI Development - The company has significantly improved the quality and efficiency of its medical services through deep AI application, achieving nearly 90% accuracy in complex disease MDT treatment plans [2] - The average service cost per family doctor client decreased by approximately 52% year-on-year due to AI integration [2] - Future plans include expanding AI technology applications across various complex diseases and business scenarios to enhance service efficiency and quality [2]

Financial Performance - For the nine months ended September 30, 2025, the company reported total revenue of RMB 3,724.6 million, representing a year-on-year increase of 13.6% compared to RMB 3,278.9 million in 2024[4] - Net profit for the same period was RMB 183.8 million, a significant increase of 72.6% from RMB 106.5 million in 2024[4] - Adjusted net profit reached RMB 216.1 million, up 45.7% from RMB 148.3 million in the previous year[4] Business Growth - The company's F-end and B-end corporate health management business revenue grew by 21.5% year-on-year, with over 4,500 corporate clients served by the end of the reporting period[5] - The number of B-end paying users increased by 30.6% compared to the same period last year[5] - Home elderly care service users increased by 41% compared to the end of 2024, reflecting the company's focus on integrated health services[5] User Experience and Service Improvement - The company’s family doctor service covered over 40 million users by the end of the reporting period, enhancing user experience through AI and medical data capabilities[5] - The accuracy of complex disease MDT treatment plans improved to nearly 90%, while the average service cost per family doctor user decreased by approximately 52% year-on-year[5] Future Plans and Considerations - The company plans to continue strengthening collaboration with Ping An Group and enhance digital and AI capabilities to improve user satisfaction and service efficiency[6] - The financial data presented is unaudited and subject to change, as it is based on preliminary internal reviews by the board of directors[6]

Core Viewpoint - The news provides an overview of the upcoming IPOs, earnings announcements, shareholder meetings, and dividend distributions for various companies listed on the Hong Kong Stock Exchange as of October 23, 2025 [1]. New IPO Activities - Companies currently in the IPO process include: - Baima Tea Industry - Cambridge Technology - Sany Heavy Industry - Dipu Technology - Prada - Lijuz Pharmaceutical [1] Earnings Announcement Dates - Companies scheduled to announce earnings include: - Faraday - Ping An Good Doctor - Longyuan Power - Orient Overseas International - Qingdao Port - China Innovation Investment - Chongqing Machinery and Electric [1] Shareholder Meeting Dates - Companies holding shareholder meetings include: - Datang Power - Andeli Juice - Hongye Futures - Tibet Water Resources - China Anshun Energy [1] Dividend Distribution - Companies with upcoming dividend distributions include: - Hang Seng Bank (ex-dividend date) - Huaxun (dividend payment date) - Wansichang International (dividend payment date) - Zhifeng Industrial Electronics (dividend payment date) - Haitian Flavoring and Food (dividend payment date) - China Shipbuilding Defense (dividend payment date) - Dongfang Xingye Holdings (dividend payment date) - China Resources Mixc Life (dividend payment date) [1][3][4]

近日，平安好医生发布管理层调整公告，平安集团执行董事、联席首席执行官郭晓涛兼任董事会主席， 同时任命何明科出任首席执行官。这一兼具集团战略视野与行业创新经验的"高配"组合，有望为平安好 医生医险协同战略、企业健康管理等核心业务带来新增长。 核心优势再升级：政策与生态驱动医险闭环 企业健康管理业务快速增长，何明科或带来B端新尝试 企业健康管理业务一直是平安好医生在B端市场保持增长的重要引擎。随着"健康中国"战略深入推进， 企业健康意识不断提升，平安好医生也将该业务从"软性福利"逐步升级为企业的"核心竞争力"，通过一 体化支付与服务平台，为企业提供覆盖预防、诊疗、康复全流程的主动式医疗健康管理服务。截至2025 年6月，平安好医生已服务超过3500家企业，B端付费用户数超360万人，同比增长39.2%。 新任首席执行官何明科的到来或许意味着平安好医生在B端业务上的新思路与新尝试。公开信息显示， 何明科曾在百度大健康事业群任职期间，布局了众多To B业务，拥有丰富的B端业务经验。此次任职或 使平安好医生进一步拓展B端市场，提升服务质量和效率，为企业健康管理业务带来全新的发展视角， 探索更多元化的服务内容。 同时，借 ...

Group 1 - The core point of the news is that southbound funds have increased their holdings in Ping An Good Doctor (01833.HK) by 23,300 shares on October 16, 2025, marking a net increase of 5,995,600 shares over the last five trading days [1][2] - Over the past 20 trading days, southbound funds have reduced their holdings in Ping An Good Doctor for 13 days, resulting in a total net reduction of 15,453,300 shares [1][2] - As of now, southbound funds hold 448 million shares of Ping An Good Doctor, accounting for 20.72% of the company's total issued ordinary shares [1][2] Group 2 - The company, Ping An Health Medical Technology Co., Ltd., operates in the healthcare sector, providing medical and health services through mobile platforms and offline resources [2] - The business is divided into two segments: the medical services segment focuses on online consultations, referrals, appointment scheduling, hospitalization arrangements, disease diagnosis, and related sales of pharmaceuticals and medical devices [2] - The health services segment offers standardized health service packages that integrate various healthcare institution services to meet users' health-related needs, covering areas such as physical examinations, elderly care, dental services, anti-aging, and general health [2]

新华财经上海10月15日电（记者胡洁菲）中国创新药发展正迎来多方机遇。一方面，中国创新药BD交 易正进入密集收获期。据不完全统计，2025年上半年我国创新药对外授权交易总金额近660亿美元，超 过2024年全年的519亿美元，BD的爆发已成为中国创新药业绩增长的一大"加速器"；另一方面，商业健 康险对创新药的支持迎来顶层政策的多方护航，9月30日，国家金融监督管理总局对外发布《关于推动 健康保险高质量发展的指导意见》，明确指出支持健康保险对创新药械进行更为灵活、有效的支付，提 升创新药械的可支付性和可及性。此外，由国家医保局主导制定的商保创新药目录，旨在搭建创新药支 付"第二通道"。目前已公布首版专家评审结果，引发业内高度关注。 "政策引路、平台整合的趋势正愈发显著，标志着创新药械支付体系建设进入新阶段，从单纯的政策引 导转向系统化、机制化的制度构建。"天津大学医学部药物科学与技术学院副研究员谢诗桐说，第三方 管理平台在国际商业健康险中已是成熟模式，能够在参保资格核验、用药路径管理、支付结算、依从性 跟踪、费用控制、反欺诈审核等方面提供专业化、标准化服务，推动商业健康险从"事后报销"向"全程 管理"转型。 编 ...

花旗及大摩报告认为，新管理层组合可能提升平安好医生与平安集团的业务协同。目前，平安集团在金 融付费用户中的渗透率约8%，在企业付费用户中约5%。 数据显示，2025年上半年公司来自F端和B端的收入占总收入78.3%，大部分依赖平安集团渠道。公司面 临的挑战包括如何拓展第三方市场，以及应对阿里健康、京东健康等竞争对手的市场竞争。 李斗的离任发生在公司业绩转折期。2024年上半年，平安好医生公布成立十年来首份盈利财报。2025年 上半年，公司总营收25.02亿元，同比增长19.5%;归母净利润1.34亿元，同比增长136.8%。其任内推动了 组织架构调整，升级家医及就医服务，建立覆盖29个科室、5万名医生的服务网络，并推出AI医疗产品 矩阵。 郭晓涛现年53岁，2024年3月起担任平安好医生非执行董事。他于2019年加入平安集团，现任平安集团 执行董事、联席首席执行官、副总经理，同时在北大医疗、平安银行、平安产险、平安人寿及金融壹账 通等多家公司担任董事职务。加入平安前，他曾任职于波士顿咨询及韦莱韬悦。 何明科现年46岁，拥有清华大学学士及硕士学位、斯坦福大学工商管理硕士学位。他曾任职于波士顿咨 询、软银赛富投资 ...

Core Viewpoint - Ping An Good Doctor has undergone a significant leadership change with the resignation of CEO Li Dou and the appointment of Guo Xiaotao as Chairman and He Mingke as CEO, raising questions about the company's strategic direction following its first profitable year [1][3][7] Leadership Change - Li Dou resigned due to personal work arrangements, which was unexpected given his recent involvement in the company's brand renewal [3] - Under Li Dou's leadership, the company achieved its first profitable financial report in its ten-year history, with a revenue of 2.5 billion yuan and a net profit of 134 million yuan in the first half of the year, marking a 19.5% and 136.8% year-on-year increase respectively [3][4] - The new leadership structure separates the roles of Chairman and CEO, with Guo Xiaotao and He Mingke taking on these positions respectively [6] Strategic Implications - The leadership change occurs at a critical juncture as the company transitions from a focus on survival to seeking growth opportunities, particularly in AI-driven healthcare [4][7] - Analysts suggest that while the company has achieved profitability, it still relies heavily on internal transactions with the Ping An Group, which may limit its future growth potential [4][9] - He Mingke's background in AI and healthcare at Baidu aligns with the company's strategy to enhance its AI capabilities in medical services [6][7] Market Position and Challenges - The company faces intense competition in the internet healthcare sector, with rivals like Alibaba Health and JD Health already achieving scalable profitability through integrated online and offline services [9] - The challenge for the new leadership will be to balance short-term profitability with long-term investments in technology, as well as to expand its external customer base beyond the Ping An Group [8][10] - The shift towards AI-driven healthcare services is seen as a necessary evolution for the company to remain competitive in a rapidly changing industry landscape [7][10]

Core Viewpoint - The sudden leadership change at Ping An Good Doctor, occurring after the company achieved profitability, raises questions about the strategic direction of the company and the intentions of Ping An Group [1][2]. Group 1: Leadership Change - Li Dou resigned from his positions as Chairman, Executive Director, and CEO due to personal reasons, with Guo Xiaotao taking over as Chairman and He Mingke appointed as CEO [1][2]. - Li Dou's tenure saw the company transition from nine years of losses to its first profitable report in 2024, with a revenue of 2.5 billion yuan and a net profit of 134 million yuan, marking a 19.5% and 136.8% year-on-year growth respectively [2][3]. Group 2: Strategic Implications - The leadership change is perceived as a potential shift in strategic focus, with analysts suggesting that while profitability was achieved, the company still relies heavily on internal group transactions, indicating a need for external customer expansion [3][4]. - He Mingke's background in AI and healthcare at Baidu aligns with the company's goal to enhance its AI-driven medical services, suggesting a pivot towards technology-driven growth [5][6]. Group 3: Industry Context - The competitive landscape of internet healthcare is evolving, with a shift from customer acquisition to AI technology competition, necessitating stronger technological capabilities for sustained growth [6][7]. - The company faces challenges in balancing short-term profitability with long-term technological investments, especially as it seeks to diversify its customer base beyond the Ping An Group [7][8].