Core Viewpoint - China Ping An announced the appointment of Mr. Guo Shibang as Assistant General Manager, pending approval from the National Financial Regulatory Administration for his qualification [1] Group 1 - The board of directors of China Ping An made the decision to appoint Mr. Guo Shibang [1] - Mr. Guo Shibang will officially assume the role of Assistant General Manager after obtaining the necessary qualifications [1]

(4) 因四捨五入，直接計算未必相等。 七、擔保情況 報告期內對外擔保發生額合計 – 公司及其子公司對子公司的擔保情況 | --- | --- | |-----------------------------------------------------------------------------------------------|---------| | 報告期內對子公司擔保發生額 (2) 合計 | (5,337) | | 報告期末對子公司擔保餘額合計 | 8,899 | | 公司擔保總額情況（包括對子公司的擔保） | | | 擔保總額 | 8,899 | | 擔保總額佔公司淨資產的比例 (%) | 1.0 | | 其中：直接或間接為資產負債率超過 70% （於 2023 年 9 月 30 日）的被擔保對象 提供的擔保金額 | 8,133 | | 公司及其子公司擔保總額超過公司 淨資產 50% 部分的金額 | – | （四）合併現金流量表 截至2023年9月30日止9個月期間 | --- | --- | --- | |----------------------------------------- ...

Premium Income and Business Growth - In the first half of 2023, the premium income from Ping An Health Insurance through life insurance agents increased by 13.6% year-on-year[1]. - As of June 30, 2023, Ping An Property Insurance reported a premium income of RMB 19,648 million, accounting for 12.7% of total income, while Ping An Health Insurance accounted for RMB 5,763 million, representing 69.0%[1]. - The total insurance premium income for the group reached CNY 459.848 billion, representing a year-on-year growth of 7.2%[15]. - The new business value of life and health insurance for the first half of 2023 increased by 32.6% year-on-year, with a comparable increase of 45.0%[31]. - The new business value for the life and health insurance segment reached RMB 25,387 million, with a year-on-year growth of 45.0% on a comparable basis[127]. - The first-year premium income for the same period was RMB 113.90 billion, up 49.6% compared to the previous year[104]. - The new business value from the bancassurance channel was RMB 2.83 billion, showing a significant year-on-year growth of 174.7%[105]. - The new business premium from the agent channel was RMB 101,072 million, up from RMB 59,363 million in 2022, indicating a growth of 70.4%[169]. Customer Base and Retention - As of June 30, 2023, Ping An has over 229 million individual customers, with an average of 2.99 contracts per customer, reflecting a 0.7% increase since the beginning of the year[10]. - The group has a high customer retention rate, with 66.7% of customers having been with the company for over five years, totaling approximately 153 million[17]. - The number of personal customers increased to 22.926 million, a year-on-year growth of 1.2%[78]. - The persistency rate for existing customers improved by 5.7 percentage points year-on-year, demonstrating enhanced customer retention[157]. - Over 64% of Ping An's individual customers, totaling more than 229 million, utilized services from the medical health ecosystem, with an average of 3.43 contracts per customer and an average AUM of RMB 55,800[4]. Financial Performance - The operating profit attributable to shareholders for the first half of 2023 reached CNY 81.957 billion, with an annualized return on equity (ROE) of 18.2%[15]. - The operating profit for the first half of 2023 was RMB 58.59 billion, slightly down by 1.7% from the previous year[104]. - The net profit for the same period was RMB 46.34 billion, an increase of 4.5% year-on-year[104]. - The total net profit for the group was RMB 83,426 million, with the net profit attributable to the parent company's shareholders at RMB 69,841 million[121]. - The annualized return on equity (ROE) dropped by 3.0 percentage points year-on-year to 18.2%[78]. Insurance and Healthcare Ecosystem - The company has established a medical health ecosystem with nearly 4,000 in-house doctors and over 50,000 contracted external doctors, achieving 100% cooperation coverage with top hospitals in China[4]. - The "Ping An Health" online flagship platform has served over 16 million Ping An Life Insurance customers, with nearly 70% of new contract customers using health services[7]. - The health management services of Ping An Life Insurance served over 16 million customers in the first half of 2023, achieving a service satisfaction rate of 99%[40]. - The company has served over 200,000 customers through its "health insurance + service" products, combining insurance with high-end medical services[64]. - The company completed the acquisition of Peking University Medical Group, integrating six top-tier hospitals and specialty medical institutions into its healthcare ecosystem[92]. Investment and Asset Management - Ping An has invested over CNY 8.27 trillion to support the real economy, with green investment in insurance funds amounting to CNY 140.929 billion[12]. - The company's insurance fund investment portfolio reached approximately RMB 4.62 trillion, growing by 6.5% since the beginning of the year[184]. - The annualized comprehensive investment return rate for the insurance fund investment portfolio was 4.1%, an increase of 0.7 percentage points year-on-year[189]. - The total investment income for the same period was RMB 8,044 million, representing a significant increase of 33.2% from RMB 6,040 million in the previous year[198]. - The company continues to enhance its investment research, product innovation, and post-investment management capabilities to maximize the value of its investment assets[187]. Product Development and Innovation - The company is enhancing its insurance product system by gradually introducing "insurance + service" products to address changing customer needs and market competition[57]. - The company has introduced new insurance products to meet the growing demand for wealth management and retirement planning, including flexible pension products[133]. - The company launched 51 key products under the "Three Savings" value evaluation system in the first half of 2023, covering various financial and lifestyle scenarios[39]. - The average number of contracts held by high-net-worth customers reached 21.44, significantly higher than that of affluent customers, indicating a strong cross-selling strategy[47]. Technology and Digital Transformation - The digital marketing platform helped agents reach over 110 million customers in the first half of 2023, with AI service handling 81% of total customer service volume[69]. - The company aims to enhance customer value by providing a one-stop financial solution, with 39.6% of total customers holding multiple contracts[69]. - The company has expanded its overseas cooperation network to cover over 1,000 medical institutions across 16 countries[63]. - The company has launched 550 home care services and increased the number of cooperating pharmacies to 226,000, achieving a national coverage rate of over 36%[63].

[0 -> 2] 各位媒體朋友大家上午好 [2 -> 4] 感謝各位出席中國平安 [4 -> 7] 2023年中期業績發佈會 [7 -> 9] 我是集團董事會秘書盛宇森 [9 -> 11] 今天的發佈會將由 [11 -> 14] 我和香港會場的集團 [14 -> 16] 國際公關和ESG主管 [16 -> 18] 艾爾斯先生共同主持 [18 -> 20] 本次發佈會我們採用 [20 -> 22] 現場會議視頻直播的方式 [22 -> 24] 同步進行 [24 -> 27] 相信很多跟蹤平安很多年的 [27 -> 28] 老的媒體朋友 [28 -> 31] 當然大家都非常熟悉平安的 [31 -> 33] 一個兩地連線的 [33 -> 35] 那種發佈會的模式 [35 -> 38] 首先請允許我們先介紹一下 [38 -> 40] 香港上海兩地的管理層 [40 -> 42] 有請艾爾斯介紹 [42 -> 44] 香港方面的管理層 [62 -> 63] 謝謝 [63 -> 65] 今天出席香港會場的管理層有 [65 -> 67] 董事長馬明哲先生 [67 -> 70] 聯席首席執行官陳欣盈女士 [70 -> 73] ...

Company Performance - The company ranked 33rd in the Fortune Global 500 and 1st among global insurance companies, maintaining its position as the 5th largest financial enterprise globally[1]. - As of June 30, 2023, the insurance service revenue was RMB 48,115 million, with a pre-tax operating profit of RMB 65,615 million and a net profit of RMB 46,335 million[43]. - The company achieved a net profit of CNY 25.39 billion in the first half of 2023, representing a year-on-year increase of 14.9%[156]. - The net profit for the first half of 2023 was RMB 9,285 million, an increase of 7.4% from RMB 8,642 million in 2022[82]. - The total operating income for the first half of 2023 was RMB 88,610 million, a decrease of 3.7% from RMB 92,022 million in 2022[185]. Customer Base and Retention - The company has over 2.29 billion personal customers, with more than 64% utilizing services from the healthcare ecosystem, resulting in an average of 3.43 contracts and an average AUM of approximately 55,800 yuan per customer[3]. - As of June 30, 2023, the group had over 229 million individual customers, an increase of 1.2% from the beginning of the year, with 14.29 million new customers added in the first half of 2023, representing a year-on-year growth of 2.3%[15]. - The group has approximately 153 million customers with over 5 years of tenure, accounting for 66.7% of the total customer base, indicating high customer retention[20]. - The 13-month policy continuation rate improved to 93.8%, up 2.1 percentage points year-on-year, while the 25-month policy continuation rate rose to 87.6%, an increase of 7.0 percentage points[41]. Business Growth and Strategy - In the first half of 2023, the new business value of the life insurance segment increased by 45.0% year-on-year, with agent channel productivity rising by 94.3%[4]. - The company plans to continue focusing on core business areas, cost reduction, and structural optimization in the second half of 2023[7]. - The company is committed to a strategy of "integrated finance + healthcare," aiming to meet the high-quality living needs of residents[3]. - The company aims to enhance its "insurance + service" product offerings to improve sales and business quality, leveraging its healthcare ecosystem[40]. Financial Performance and Investments - The total premium income from property insurance business was RMB 154.136 billion, an increase from RMB 146.792 billion in the previous year[136]. - The total investment income for the first half of 2023 reached RMB 79.64 billion, reflecting a significant increase of 41.6% from RMB 56.23 billion in 2022[120]. - The comprehensive investment return rate for the insurance fund investment portfolio was 4.1%, up by 0.7 percentage points year-on-year[115]. - The company's total investment assets amounted to RMB 4,615.76 billion, an increase from RMB 4,332.92 billion in December 2022, representing a growth of 6.5%[119]. Risk Management and Solvency - The company’s solvency ratios for life insurance, pension insurance, and health insurance are significantly above regulatory requirements as of June 30, 2023[44]. - The company has strengthened risk control measures, with a provision coverage ratio of 291.51%, an increase of 1.23 percentage points from the beginning of the year[130]. - The core solvency adequacy ratio was 176.6% as of June 30, 2023, slightly down from 177.6% at the end of 2022[135]. Technological Advancements and Digital Transformation - The company continues to enhance its technological capabilities and expand its ecosystem through ongoing research and development investments[181]. - The company is focusing on transforming its customer management model from "disease-centered" to "health-centered," aiming to develop products that meet diverse customer needs[85]. - The registered user count for the "Ping An Pocket Bank" APP reached 159.93 million, an increase of 4.6% since the beginning of the year[189]. Healthcare and Elderly Care Services - The company has initiated high-end elderly care projects in four cities, with over 60,000 customers qualifying for home elderly care services[4]. - The healthcare ecosystem has served 1.18 million users in chronic disease prevention, achieving a service satisfaction rate of 99%[51]. - The company has initiated high-quality elderly care services in cities including Shenzhen, Guangzhou, Shanghai, and Foshan, with a new project launched in Shanghai in February 2023[68].

Customer Base and Growth - As of March 31, 2023, the number of individual customers reached approximately 229 million, with an average of 2.98 contracts per customer, reflecting a 0.3% increase since the beginning of the year[3] - The number of paid individual customers in the health sector exceeded 42 million, with health insurance premium income reaching RMB 40 billion in Q1 2023[18] - The number of cooperative pharmacies reached 226,000, an increase of nearly 2,000 since the beginning of the year, covering over 38% of pharmacies nationwide[20] - The number of individual customers reached 22.86 million, a 0.9% increase from the end of 2022, with an average of 2.98 contracts per customer[42] - Over 64% of the company's nearly 229 million individual customers utilized services from the healthcare ecosystem as of March 31, 2023[43] Financial Performance - The operating profit attributable to the parent company shareholders for Q1 2023 was RMB 41.385 billion, with a net profit of RMB 38.352 billion, marking a year-on-year increase of 48.9%[10] - In Q1 2023, the company achieved a net profit attributable to shareholders of RMB 38.35 billion, a year-on-year increase of 48.9%[33] - The operating profit for Q1 2023 was RMB 45.44 billion, a 45.9% increase from RMB 31.15 billion in Q1 2022[25] - The net profit for the three months ending March 31, 2023, was RMB 46,165 million, compared to RMB 32,395 million in the same period of 2022, indicating significant growth[118] - Total revenue for the three months ending March 31, 2023, was RMB 281,600 million, compared to RMB 220,248 million in 2022, indicating significant growth[146] Insurance and Investment - In Q1 2023, the insurance service revenue from property insurance was RMB 76.312 billion, representing a year-on-year growth of 7.1%[4] - The original insurance premium income for the three months ended March 31, 2023, was RMB 76,958 million, representing a 5.4% increase from RMB 73,018 million in 2022[109] - The original insurance premium income from auto insurance for the three months ended March 31, 2023, was RMB 50,025 million, up 6.2% from RMB 47,083 million in 2022[109] - The annualized net investment return rate for the insurance investment portfolio was 3.1% as of March 31, 2023, with a total investment portfolio size exceeding CNY 4.49 trillion, reflecting a 3.1% growth since the beginning of the year[51] - Investment income for the period was RMB 29,715 million, a recovery from a loss of RMB 26,148 million in the previous year[146] Cost and Profitability Metrics - The comprehensive cost ratio for property insurance in Q1 2023 was 98.7%, an increase of 2.0 percentage points compared to the same period last year[25] - The comprehensive cost ratio for Ping An Property & Casualty Insurance increased by 2.0 percentage points to 98.7%[33] - The comprehensive cost ratio based on original insurance contract standards was 99.8% in Q1 2023, up 3.0 percentage points year-on-year[50] - The annualized operating ROE reached 18.8% in Q1 2023[28] Technology and Innovation - As of March 31, 2023, the company had filed 47,229 technology patents, an increase of 1,152 from the beginning of the year, maintaining a leading position among international financial institutions[31] - AI-driven product sales accounted for 49% of total sales in Q1 2023, with AI service volume exceeding 530 million, representing 81% of total customer service interactions[94] Banking Performance - Ping An Bank reported a net profit of RMB 14.60 billion in Q1 2023, up 13.6% year-on-year, with a non-performing loan ratio of 1.05%[30] - The corporate customer base for Ping An Bank increased by 4.3% to 642,300 as of March 31, 2023[56] - The bank's capital adequacy ratios improved, with the core Tier 1 capital adequacy ratio rising by 0.27 percentage points to 8.91% as of March 31, 2023[90] Asset Management and Liabilities - The asset management scale exceeded CNY 6 trillion as of March 31, 2023, with net profit from asset management business at CNY 1.61 billion in Q1 2023[61] - The total liabilities increased to RMB 10,054,215 million as of March 31, 2023, from RMB 9,823,944 million at the end of 2022, reflecting a growth of approximately 2.4%[167] - Total equity attributable to shareholders increased to RMB 914,332 million as of March 31, 2023, compared to RMB 869,191 million at the end of 2022, an increase of approximately 5.2%[150] Compliance and Regulatory - The core solvency adequacy ratio for Ping An Life Insurance as of March 31, 2023, was 120.4%, exceeding the minimum regulatory requirement of 50%[110] - The core solvency adequacy ratio and comprehensive solvency adequacy ratio data were reported in accordance with the regulatory requirements[137] - The company plans to implement changes in accounting policies related to insurance contracts starting from January 1, 2023, in compliance with the new international financial reporting standards[140]

Financial Performance - In 2022, the company achieved an operating profit attributable to shareholders of RMB 148.365 billion, a year-on-year increase of 0.3%[8] - The total revenue for 2022 was RMB 1,221.351 billion, compared to RMB 1,287.675 billion in 2021[7] - The net profit attributable to shareholders of the parent company decreased by 17.6% to RMB 83,774 million from RMB 101,618 million in 2021[72] - The basic earnings per share rose by 1.2% to RMB 8.50, compared to RMB 8.40 in the previous year[72] - The operating return on equity (ROE) reached 17.9% in 2022[8] - The operating return on equity (ROE) decreased to 17.9% from 18.9% in the previous year, reflecting a decline of 1 percentage point[72] - The total operating profit after tax increased by 16.4% to RMB 112,980 million from RMB 97,075 million in the previous year[123] - The net profit for 2022 was RMB 49,346 million, a decrease of 18.2% compared to RMB 60,303 million in 2021[123] Customer Growth and Engagement - The number of individual customers reached approximately 227 million, an increase of 2.1% from the beginning of the year, with 29.7 million new customers added throughout the year[14] - The average number of contracts per individual customer increased to 2.97, reflecting a growth of 2.1% year-on-year[26] - The group’s retail banking customer base grew to 12.308 million, a 4.1% increase from the previous year[22] - The number of individual customers holding contracts with multiple subsidiaries reached approximately 90.2 million[26] - As of December 31, 2022, approximately 64% of the 227 million individual customers used services from the medical health ecosystem, with an average of 3.41 contracts per customer[61] - The average number of contracts per customer using the health ecosystem services was approximately 3.41, which is 1.6 times that of customers not using these services[87] Business Segments Performance - The new business value in the life and health insurance sector was RMB 28.82 billion in 2022, down from RMB 37.898 billion in 2021[7] - The property insurance business reported a premium income of RMB 298.038 billion, reflecting a year-on-year growth of 10.4%[9] - The health insurance premium income was nearly RMB 140 billion, with over 40 million paying users in the health sector[83] - The banking business experienced a robust growth in net profit, reaching RMB 26,380 million, which is a 25.3% increase from RMB 21,060 million in 2021[96] - The asset management business faced a substantial decrease in net profit, falling to RMB 2,292 million, down 81.2% from RMB 12,221 million in 2021[96] Investment and Financing - The company has invested over RMB 2.823 trillion to support the real economy and green financing initiatives[11] - The total scale of green investment and financing projects reached RMB 282.363 billion by the end of December 2022, with green credit balance at RMB 116.420 billion[34] - The scale of green investment and financing reached 282.363 billion RMB, with green insurance premium income amounting to 25.105 billion RMB in 2022[16] - The cumulative scale of Ping An's group investment and financing business reached RMB 1,361.5 billion in 2022[33] Technology and Innovation - As of December 31, 2022, the company held a total of 46,077 technology patent applications, an increase of 7,657 from the beginning of the year[10] - The AI-driven product sales scale grew by 25% year-on-year, with AI service volume accounting for 82% of total customer service interactions[10] - The company has the largest medical database globally, covering 4,000 diseases, and ranks first in digital medical patent applications[86] Customer Service and Experience - The company aims to enhance customer service efficiency by integrating online and offline medical resources, having served nearly 200,000 customers through its health insurance and service products[68] - The company is focusing on wealth management, retirement, and protection markets, optimizing product structures to meet diverse customer needs[129] - The company aims to enhance service efficiency and policy continuation rates through digital and intelligent pre-service for renewal policies[131] Challenges and Strategic Focus - The new business value fell by 24.0% to RMB 28,820 million, down from RMB 37,898 million in the previous year[123] - The average number of agents decreased by 39.6% to 481,000, while the new business value from the agent channel dropped by 26.2% to RMB 22,932 million[103] - The company aims to continue developing a balanced and professional sales channel while expanding its "insurance + service" product offerings[124] - The company is actively expanding its collaboration with external banks to enhance its insurance offerings and customer experience[103]

Financial Performance - In 2022, the company achieved an operating profit attributable to shareholders of RMB 148.365 billion, a year-on-year increase of 0.3%, with an operating ROE of 17.9%[4][13] - The net profit attributable to shareholders decreased to RMB 83.774 billion, down 17.6% from RMB 101.618 billion in 2021[35] - The operating profit for the life and health insurance business was RMB 111.235 billion, contributing significantly to the overall group profit[7] - In 2022, the group's personal business operating profit increased by 2.0% year-on-year to CNY 132.636 billion, accounting for 89.4% of the operating profit attributable to the parent company's shareholders[25] - The company distributed a cash dividend of RMB 2.42 per share for the year, reflecting a year-on-year increase of 1.7%[13] - The operating profit attributable to shareholders reached RMB 148,365 million in 2022, a slight increase of 0.3% from RMB 147,961 million in 2021[122] - The basic earnings per share increased by 1.2% to RMB 8.50 in 2022, compared to RMB 8.40 in 2021[122] - The operating ROE decreased to 17.9% in 2022 from 18.9% in 2021, reflecting a decline of 1 percentage point[122] Customer Engagement and Services - The number of paying corporate clients in the healthcare sector exceeded 55,000, while the number of paying users for health services surpassed 40 million[2] - Over 65% of the company's 693 million internet users utilized services from the healthcare ecosystem, with nearly 64% of 227 million personal clients engaging with these services[3] - The average number of contracts per personal client using the healthcare ecosystem was approximately 3.41, and their average AUM was about RMB 54,500, which is 1.6 times and 3.0 times higher than those not using the services, respectively[3] - The total number of individual customers reached nearly 227 million, with an average of 2.97 contracts per customer, marking a 2.1% increase from the beginning of the year[55][60] - The number of individual customers increased to approximately 227 million, a growth of 2.1% compared to the beginning of the year[66] - The average number of contracts held per personal customer increased by 2.1% to 2.97 contracts as of December 31, 2022[126] Healthcare Ecosystem Development - The company completed the acquisition of Peking University Medical Group, integrating six top-tier hospitals and specialty medical institutions into its healthcare ecosystem[2] - The company is accelerating its medical health ecosystem layout, conducting agile experiments, and enhancing customer acquisition effectiveness through health-related benefits[26] - The company has established 14 health management centers as of December 31, 2022, to enhance service levels[2] - The group has established partnerships with over 45,000 external contracted doctors and more than 10,000 hospitals, achieving 100% coverage of the top 100 hospitals in China[119] - The group has launched a 24/7 free online medical consultation service, which saw daily consultation volumes exceeding 3 million at one point[45] Investment and Financing - As of December 31, 2022, the company has invested over RMB 7.89 trillion to support the development of the real economy, providing over RMB 2.5 trillion in risk protection for more than 1,000 key projects nationwide[45] - The total scale of green investment and financing projects reached RMB 2,823.63 billion by the end of 2022, with green credit balance at RMB 1,164.20 billion[136] - The cumulative amount of green financing reached CNY 282.36 billion, with green insurance premium income of CNY 25.105 billion in 2022[63] - The company has cumulatively invested over RMB 7.89 trillion to support the development of the real economy[187] - The group has invested RMB 1.3615 trillion in key business areas in 2022, supporting the development of the real economy[109] Risk Management and Compliance - The company acknowledges various risks that may affect future performance, including exchange rate fluctuations and market competition[33] - The group has implemented a comprehensive asset allocation strategy, including foreign exchange assets, to manage risk and optimize asset structure[164] - The group is enhancing credit risk management in key industries, particularly real estate, to align with macroeconomic policies and meet financing needs[166] - The group has established a robust financial firewall to ensure the independence and integrity of financial data across its subsidiaries[172] - The group emphasizes the importance of customer information security and data integrity, implementing comprehensive monitoring and auditing mechanisms[173] Technological Innovation - The company has connected over 20 million IoT devices through its "Nebula IoT" satellite initiative, with cumulative financing support for the real economy exceeding RMB 650 billion[45] - The AI-driven sales scale increased by 25% year-on-year, with AI service volume accounting for 82% of total customer service[62] - The company has filed a total of 46,077 technology patents, an increase of 7,657 from the beginning of the year[80] - The company has integrated ESG factors into product development and evaluation, enhancing product innovation[188] Corporate Social Responsibility - Since the launch of the "Three Villages Project" in 2018, the company has provided a total of RMB 77.153 billion for poverty alleviation and industrial revitalization[198] - The company conducted 3,592 hours of teaching activities as part of its youth technology literacy enhancement plan[198] - The company has developed specialized insurance products to improve employment security for "new citizens" and small businesses[187]

Financial Performance - For the first three quarters of 2022, the operating profit attributable to the parent company's shareholders was RMB 123.29 billion, an increase of 3.8% year-on-year, with an annualized operating ROE of 19.9%[3] - The operating profit from life and health insurance business was RMB 86.49 billion, reflecting a year-on-year growth of 17.4%[1] - The bank's operating income for the first three quarters was RMB 138.27 billion, up 8.7% year-on-year, while net profit increased by 25.8% to RMB 36.66 billion[2] - Net profit attributable to shareholders for the nine months ended September 30, 2022, was RMB 76.463 billion, a decrease from RMB 81.638 billion in the same period of 2021, representing a decline of approximately 6.5%[6] - The operating profit attributable to shareholders for the nine months ended September 30, 2022, was RMB 142.575 billion, compared to RMB 134.924 billion in the same period of 2021, showing an increase of approximately 5.5%[6] - The profit attributable to equity holders of the parent company was RMB 76,463 million, down from RMB 81,638 million, reflecting a decline of 6.7%[45] - Basic earnings per share for the parent company's ordinary shareholders decreased to RMB 4.38 from RMB 4.63, a decline of 5.4%[45] Customer Metrics - As of September 30, 2022, the number of individual customers reached approximately 228 million, with an average contract number per customer increasing by 1.7% to 2.96 contracts[3] - The total number of individual customers reached approximately 228 million, reflecting a growth of 2.6% compared to the beginning of the year, with an average of 2.96 contracts per customer, up 1.7%[9][10] - The number of active users reached approximately 348 million, with over 166 million individual customers being active users[9] - The cumulative number of paid individual customers in the health ecosystem reached nearly 100 million by the end of September 2022[12] - The company has covered over 47,000 corporate clients in its employee health management service system, serving more than 20 million employees[12] Insurance and Premiums - The total premium income from property insurance reached RMB 222.02 billion, marking an 11.4% year-on-year increase, with a combined cost ratio of 97.9%[2] - Health insurance premium income exceeded RMB 110 billion in the first three quarters of 2022, indicating strong growth in the health insurance segment[12] - The operating profit for the insurance business segment was RMB 86.486 billion, reflecting a robust performance despite market challenges[6] - Property insurance premium income grew by 11.4% to RMB 222,024 million, with a combined ratio of 97.9%, up 0.6 percentage points year-on-year[19] Investment and Financing - The cumulative investment to support the real economy exceeded RMB 5.9 trillion, with green financing scale around RMB 319.8 billion[2] - The comprehensive financial financing scale decreased by 22.1% year-on-year to RMB 414.811 billion, influenced by market conditions and investment strategies[11] - The annualized net investment return rate for the insurance investment portfolio was 4.2%, while the total annualized investment return rate was 2.7%[21] - The insurance investment portfolio size exceeded RMB 4.29 trillion, reflecting a growth of 9.6% since the beginning of the year[21] Technology and Innovation - The company filed an additional 6,544 technology patents, bringing the total to 44,964, ranking among the top international financial institutions[2] - The number of technology patent applications increased by 6,544 to a total of 44,964, with nearly 94% being invention patents as of September 30, 2022[28] - AI-driven customer service volume exceeded 1.96 billion instances, accounting for 82% of total customer service interactions, with AI-driven product sales reaching approximately RMB 274.7 billion, a 46% increase year-on-year[29] - The company has the largest medical database globally and ranks first in digital medical patent applications as of September 2022[13] Corporate Strategy and Challenges - The company emphasizes the long-term growth potential in the financial insurance and healthcare sectors, driven by increasing consumer demand for health management and insurance services[31] - The company acknowledges challenges in business growth due to the complex domestic and international environment, but sees opportunities in digital transformation and healthcare demand[31] - The company plans to enhance its service to the real economy and deepen the "comprehensive finance + healthcare" dual-wheel strategy, focusing on high-quality development[31] - The company has implemented a strategy to innovate in financial inclusivity and maintain economic and financial security amid rising credit risks[31] Shareholder Information - The total share capital of the company as of September 30, 2022, is 18,280,241,410 shares, with A-shares accounting for 10,832,664,498 shares and H-shares for 7,447,576,912 shares[32] - As of the end of the reporting period, the company has a total of 1,125,367 shareholders, with the top ten shareholders holding 55.75% of the total shares[33] - The top shareholder, Hong Kong Central Clearing (Agent) Limited, holds 37.01% of the shares, amounting to 6,765,002,821 shares[33] Cash Flow and Assets - The net cash flow from operating activities for the nine months ended September 30, 2022, was RMB 345,812 million, significantly higher than RMB 49,730 million in the same period of 2021[49] - The company reported a net cash outflow from investing activities of RMB 259,396 million, compared to a net inflow of RMB 56,755 million in the previous year[49] - The net cash flow used in financing activities was RMB 116,589 million, an increase from RMB 66,801 million in the same period of 2021[50] - Total assets as of September 30, 2022, amounted to RMB 10,762,211 million, an increase from RMB 10,142,026 million as of December 31, 2021, representing a growth of 6.1%[48] - The company’s total liabilities as of September 30, 2022, were RMB 9,650,517 million, up from RMB 9,064,303 million, indicating an increase of 6.5%[48] Governance and Management - The executive directors include Ma Mingzhe, Xie Yonglin, Chen Xinying, Yao Bo, and Cai Fangfang[52] - The non-executive directors include Xie Jiren, Yang Xiaoping, He Jianfeng, and Cai Xun[52] - The independent non-executive directors consist of Ouyang Hui, Wu Chengye, Chu Yiyun, Liu Hong, Wu Gangping, and Jin Li[52]

Financial Performance - In the first half of 2022, the operating profit attributable to the parent company's shareholders reached RMB 85.34 billion, a year-on-year increase of 4.3%[6]. - The bank's operating income was RMB 92.02 billion, reflecting an 8.7% year-on-year growth, while net profit increased by 25.6% to RMB 22.09 billion[6]. - The company distributed an interim cash dividend of RMB 0.92 per share, an increase of 4.5% year-on-year[16]. - The net profit attributable to shareholders of the parent company was RMB 60.273 billion, up 3.9% year-on-year[28]. - The life insurance and health insurance business achieved an operating profit of RMB 58.993 billion, a year-on-year increase of 17.4%[17]. - The net profit from the banking business was RMB 22.088 billion, reflecting a 25.6% year-on-year increase[28]. - The net profit from the property insurance business decreased by 22.3% year-on-year to RMB 8.381 billion[28]. - The asset management business reported a decrease of 45.1%, with net profit dropping to RMB 4.40 billion from RMB 8.01 billion[79]. - The company’s net profit attributable to the parent company was RMB 60.27 billion, a 3.9% increase from the previous year[73]. Customer Base and Engagement - The number of individual customers exceeded 225 million, with an average of 2.95 contracts per customer, up 1.4% from the beginning of the year[6]. - The number of individual customers reached 22.516 million, with a year-on-year increase of 1.5%[41]. - The number of annual active users exceeded 342 million, with each internet user utilizing an average of 2.09 online services[42]. - Over 64% of Ping An's 225 million individual customers utilized services from the healthcare ecosystem[19]. - The registered users of the "Ping An Pocket Bank" app exceeded 140 million, with nearly 50 million users actively using online services each month[14]. - The number of registered operating users on the "Ping An Bank Digital Wallet" platform reached 10.853 million by June 30, 2022, an increase of 33.3% year-to-date[54]. Insurance and Health Services - The new business value of life and health insurance increased by 26.9%, with a 13-month policy continuation rate rising by 4.1 percentage points[6]. - The health ecosystem strategy has achieved 100% cooperation with top 100 hospitals and tertiary hospitals in China, with over 208,000 partnered pharmacies[6]. - The health insurance premium income exceeded RMB 70 billion in the first half of 2022[64]. - The customer base for the health management service "Ping An Zhenxiang RUN" reached approximately 15 million, with a customer satisfaction rate of 98%[93]. - The diabetes management service has been used by over 500,000 individuals, with 92% of users improving their blood sugar levels[68]. Technology and Innovation - The company’s technology patent applications increased by 4,674 to a total of 43,094, ranking among the top international financial institutions[8]. - The company aims to enhance customer experience through continuous technological innovation and product optimization, focusing on customer-centric strategies[49]. - The company has integrated over 50,000 internal and external doctors, with more than 10,000 cooperating hospitals in China[67]. Investment and Financial Strategy - The total investment income for the first half of 2022 is RMB 55,033 million, reflecting the impact of market volatility on investment returns[104]. - The company has implemented a disciplined and flexible investment operation to optimize asset-liability matching, focusing on long-term, low-risk bonds[148]. - The company has established a comprehensive risk management framework for corporate bonds, including asset allocation and dynamic review processes[157]. - The company has maintained a strong reinsurance policy, collaborating with nearly 100 global reinsurers to enhance underwriting capacity and mitigate operational risks[135]. Corporate Social Responsibility - The cumulative support funds for poverty alleviation and industrial revitalization reached RMB 49.72 billion[9]. - The green finance investment scale reached RMB 249.36 billion, with green banking business scale at RMB 161.73 billion[8]. - The company has established partnerships with over 100 top hospitals and 10,000 health management institutions, covering 100% of top-tier hospitals in China[62]. Operational Efficiency - The comprehensive cost ratio for the insurance business was 97.3%, an increase of 1.4 percentage points compared to the previous year[120]. - The company aims to enhance operational efficiency and service quality in the life insurance sector while controlling operational costs for sustainable high-quality development[25]. - The company is expected to improve its comprehensive cost ratio in the medium to long term due to various economic support policies and risk management measures[120].