Core Viewpoint - The company has demonstrated significant improvement and strong growth in its performance for the first three quarters of 2025, with key indicators showing a solid foundation and a notable strengthening of its fundamentals [1][9]. Group 1: Operating Profit - The operating profit attributable to the parent company reached 116.26 billion yuan, reflecting a year-on-year increase of 7.2%, with a clear upward trend over three consecutive quarters [2]. - The quarterly growth rates were 2.4% in Q1, 4.9% in Q2, and a notable 15.2% in Q3, indicating robust operational capabilities despite external economic pressures [2]. Group 2: Net Profit - The net profit attributable to the parent company was 132.86 billion yuan, marking an 11.5% year-on-year increase, with Q3 showing a remarkable growth of 45.4% [3]. - The company noted that net profit was influenced by one-time transactions and non-recurring financial factors, yet still achieved double-digit growth [3]. Group 3: Net Assets - As of September 30, the net assets attributable to the parent company reached 986.4 billion yuan, up 6.2% from the beginning of the year, indicating a solid balance sheet [4][5]. - The growth in net assets is linked to the company's stock market investments and earnings, providing a strong foundation for future shareholder returns [4]. Group 4: New Business Value in Life Insurance - The new business value (NBV) for life and health insurance surged by 46.2% year-on-year, with growth rates improving from 34.9% in Q1 to 39.8% in Q2 [6]. - The agent channel saw a 23.3% increase in new business value, while the bancassurance channel experienced a remarkable growth of 170.9%, highlighting the effectiveness of multi-channel development [6]. Group 5: Investment Performance - The non-annualized comprehensive investment return rate was 5.4%, an increase of approximately 1 percentage point year-on-year, showcasing strong investment performance [7][8]. - The company's ability to maintain investment returns above the industry average in a low-interest-rate environment reflects its effective asset management capabilities [8]. Group 6: Overall Market Sentiment - The company's performance signals a further improvement in fundamentals, indicating a shift from mere stability to significant strengthening [9]. - Analysts have raised the target price for the company's H-shares to 70 Hong Kong dollars, suggesting positive market sentiment and potential for stock price recovery [9].

Ping An Insurance said profit rose 11.5% in the first nine months of this year, as a stock market rally lifted investment returns and policy sales expanded https://t.co/NCD1rMqD4h ...

10月28日下午，中国平安在港交所公告，2025年前三季度，集团实现归属于母公司股东的营运利润 1162.64亿元，同比增长7.2%；归属于母公司股东的净利润1328.56亿元，同比增长11.5%，第三季度当 季同比大幅增长45.4%。 ...

Core Insights - China Ping An reported steady growth in overall performance for the first three quarters of 2025, with a focus on high-quality development in its financial core business [1][2] Financial Performance - The company achieved an operating profit of 116.26 billion yuan, a year-on-year increase of 7.2% [1] - Net profit attributable to shareholders reached 132.86 billion yuan, up 11.5% year-on-year, with a significant quarterly increase of 45.4% [1] - Total revenue for the period was 901.67 billion yuan, reflecting a 4.6% year-on-year growth [1] - As of September 30, 2025, total equity attributable to shareholders was 986.41 billion yuan, a 6.2% increase from the beginning of the year [1] Insurance Business Growth - The life and health insurance segment saw new business value of 35.72 billion yuan, a remarkable growth of 46.2% year-on-year [1] - The new business value rate (based on standard premium) increased by 9.0 percentage points year-on-year [1] - The agency channel's new business value grew by 23.3%, while per capita new business value increased by 29.9% [1] - The bancassurance channel's new business value surged by 170.9%, contributing 35.1% to the new business value of Ping An's life insurance [1] Property Insurance Performance - The property insurance segment reported original insurance premium income of 256.25 billion yuan, a 7.1% year-on-year increase [2] - The overall combined cost ratio improved to 97.0%, a 0.8 percentage point enhancement year-on-year [2] Investment Performance - The investment portfolio of Ping An achieved a non-annualized comprehensive investment return rate of 5.4%, up by 1.0 percentage point year-on-year [2] Banking Operations - Ping An Bank reported a net profit of 38.34 billion yuan for the first three quarters of 2025 [2] - The non-performing loan ratio stood at 1.05%, a slight decrease of 0.01 percentage points from the beginning of the year [2] - The provision coverage ratio was 229.60%, and the core Tier 1 capital adequacy ratio improved to 9.52%, up by 0.40 percentage points [2] Customer Engagement - The comprehensive financial model has established a core competitive barrier, with nearly 250 million personal customers as of September 30, 2025, a 2.9% increase from the beginning of the year [2] - The retention rate for customers holding four or more contracts within the group reached 97.5%, while the retention rate for customers with service time exceeding five years was 94.4% [2] Healthcare and Elderly Care Strategy - Ping An has achieved 100% cooperation coverage with top 100 hospitals and tier-three hospitals in China [3] - Home care services are now available in 85 cities, with nearly 240,000 clients qualifying for home care services [3] - High-quality elderly care community projects have been initiated in five cities [3] Social Responsibility - In the first three quarters of 2025, Ping An's green insurance premium income was 55.28 billion yuan, and it provided 47.39 billion yuan in rural industry support through the "Three Villages Project" [3]

寿险及健康险业务经营持续增长，多渠道高质量发展。2025年前三季度，寿险及健康险业务新业务价值 357.24亿元，同比增长46.2%，新业务价值率(按标准保费)同比上升9.0个百分点。代理人渠道新业务价 值同比增长23.3%，人均新业务价值同比增长29.9%;银保渠道新业务价值同比增长170.9%。银保渠道、 社区金融服务及其他等渠道，贡献了平安寿险新业务价值的35.1%。 综合金融模式构筑核心竞争壁垒，客户经营效率持续提升。截至2025年9月30日，平安个人客户数近 2.50亿，较年初增长2.9%，其中持有集团内4个及以上合同的客户留存率达97.5%，服务时间5年及以上 客户的留存率为94.4%。 医疗养老战略持续落地，差异化优势赋能主业。截至2025年9月30日，平安已实现国内百强医院和三甲 医院100%合作覆盖;居家养老服务覆盖全国85个城市，近24万名客户获得居家养老服务资格，高品质康 养社区项目已在5个城市启动。 履行社会责任，服务绿色发展、乡村振兴。2025年前三季度，平安绿色保险原保险保费收入552.79亿 元，通过"三村工程"提供乡村产业帮扶资金473.90亿元。 财产保险经营业绩稳定增长，业 ...

Group 1: Market Performance - The family doctor concept index rose by 1.38%, ranking 6th among concept sectors, with 17 stocks increasing in value [1] - Notable gainers included Haixia Innovation, which hit a 20% limit up, and other stocks like Heren Technology, ST Yinjian, and Zhujiang Shares, which rose by 5.00%, 3.88%, and 3.52% respectively [1] - The biggest decliners were Weining Health, Fosun Pharma, and Focus Technology, which fell by 2.85%, 2.05%, and 1.21% respectively [1] Group 2: Capital Flow - The family doctor concept sector saw a net inflow of 163 million yuan, with 10 stocks receiving net inflows, and 7 stocks attracting over 10 million yuan [2] - The top stock for net inflow was Keda Xunfei, with a net inflow of 155 million yuan, followed by China Ping An, Meian Health, and Haixia Innovation with net inflows of 142 million yuan, 50.97 million yuan, and 26.50 million yuan respectively [2] - In terms of capital inflow ratios, ST Yinjian, Huaping Shares, and Zhujiang Shares led with net inflow rates of 15.37%, 10.55%, and 10.31% respectively [3] Group 3: Individual Stock Performance - Keda Xunfei had a daily increase of 1.46% with a turnover rate of 3.29% and a net capital flow of 154.67 million yuan [3] - China Ping An showed a minimal increase of 0.02% with a net capital flow of 141.56 million yuan [3] - Haixia Innovation experienced a significant rise of 19.97% with a turnover rate of 20.34% and a net capital flow of 26.50 million yuan [3]

Core Insights - The insurance sector experienced a slight decline of 0.13% on October 28, with Xinhua Insurance leading the drop [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Insurance Sector Performance - China Pacific Insurance (601601) closed at 37.30, up 0.46% with a trading volume of 389,600 shares and a transaction value of 1.453 billion [1] - China Life Insurance (601628) closed at 45.10, up 0.09% with a trading volume of 141,200 shares and a transaction value of 634 million [1] - Ping An Insurance (601318) closed at 57.76, up 0.02% with a trading volume of 491,300 shares and a transaction value of 2.843 billion [1] - China Reinsurance (601319) closed at 8.79, down 1.01% with a trading volume of 588,200 shares and a transaction value of 518 million [1] - Xinhua Insurance (601336) closed at 69.02, down 1.29% with a trading volume of 167,600 shares and a transaction value of 1.15977 billion [1] Fund Flow Analysis - The insurance sector saw a net inflow of 115 million from institutional investors, while retail investors experienced a net outflow of 626.947 million [1] - Among individual stocks, Ping An Insurance had a net inflow of 175 million from institutional investors, but a net outflow of 90.5114 million from retail investors [2] - China Life Insurance had a net inflow of 12.908 million from institutional investors, with retail investors also experiencing a net outflow of 4.6734 million [2] - China Pacific Insurance had a net inflow of 3.2091 million from institutional investors, while retail investors faced a net outflow of 16.8047 million [2] - Xinhua Insurance had a net outflow of 44.6415 million from institutional investors, but a net inflow of 10.2975 million from retail investors [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 （債券證券代號：5131） 截至2025年9月30日止九個月的未經審計業績公告 中國平安保險（集團）股份有限公司（「平安」或「本公司」）董事會（「董事會」）謹此 宣佈本公司及其附屬公司（「本集團」）截至2025年9月30日止九個月期間（「報告 期」）的未經審計業績（「第三季度業績」）。本公司董事會及其轄下的審計與風險管 理委員會已審閱此第三季度業績。 （於中華人民共和國註冊成立之股份有限公司） 股份代號：2318（港幣櫃台）及82318（人民幣櫃台） 一、主要經營業績 （一）經營業績亮點 2025年前三季度，中國經濟穩中求進，內需潛力釋放、發展韌性增加。面對 複雜的外部環境，中國以高質量發展的確定性應對各種不確定性。公司堅守 金融主業，推動高質量發展，實現整體業績穩健增長。 1 • 集團整體經營顯著向好。2025年前三季度，集團實現歸屬於母公司股東 的營運利潤1,162.64億元，同比增長7.2%。歸屬 ...

Core Insights - The insurance industry in China is transitioning from a "post-compensation" model to a "full-process risk management" approach, emphasizing proactive risk management and reducing overall social risk costs [1][2][7] - China Ping An has introduced innovative insurance products, "Ping An Travel Safety Guardian Plan" and "Ping An 24 Global Guardian Plan," aimed at creating a comprehensive safety system and transforming insurance services from passive compensation to active risk management [1][5][7] Group 1: Industry Evolution - The insurance industry in China has evolved through several stages since the 1980s, moving from protecting property for the wealthy (Insurance 1.0) to becoming a wealth management tool (Insurance 2.0), and now to a focus on risk management and social value creation (Insurance 3.0) [2] - The ultimate value of the insurance industry lies in its ability to respond to social needs rather than merely focusing on scale or profit [2] Group 2: Product Innovations - "Ping An Travel Safety Guardian Plan" offers a comprehensive service system that includes prevention, rescue, compensation, and usage, aiming to reduce risks from the outset and provide timely assistance [3][4] - "Ping An 24 Global Guardian Plan" provides a one-stop service for overseas travelers, covering pre-travel, during travel, and post-incident support, with a focus on proactive risk management [5][6] Group 3: Performance Metrics - As of this year, "Ping An Travel" has served 42.9 million customers, processed over 3,500 claims, and provided more than 400 rescue services [4] - "Ping An 24" has successfully handled 426 overseas emergency rescue tasks in 2024, achieving zero complaints and serving over 6000 enterprises and 650,000 customers, with total compensation exceeding 220 million yuan [6]

Core Viewpoint - China Ping An's stock performance shows slight increase with a market capitalization of 1,045.9 billion yuan and a trading volume of 2.843 billion yuan on October 28 [1] Group 1: Dividend and Shareholding - The dividend yields for China Ping An over the past three years were 5.15%, 6.03%, and 4.84% respectively [2] - The top ten circulating shareholders include Central Huijin Asset Management Co., Ltd. and China Securities Finance Corporation [2] - Since its A-share listing, China Ping An has distributed a total of 391.904 billion yuan in dividends, with 134.54 billion yuan distributed in the last three years [7] Group 2: Business Overview - China Ping An Insurance (Group) Co., Ltd. was established on March 21, 1988, and listed on March 1, 2007, providing diversified financial services including insurance, banking, securities, and trust [6] - The revenue composition of the company includes life and health insurance (45.76%), property insurance (34.46%), banking (13.87%), asset management (5.27%), and financial empowerment (3.85%) [6] - The company has investments in several unicorn companies, including Lufax, Ping An Good Doctor, and a healthcare insurance company [2] Group 3: Financial Performance - As of June 30, 2025, China Ping An reported a net profit of 68.047 billion yuan, a year-on-year decrease of 8.81% [6] - The average trading cost of the stock is 51.49 yuan, with the current stock price near a support level of 57.74 yuan [5]