2024年年度股东会、2025 年第一次 A 股类别股东会 及 2025 年第一次 H 股类别股东会决议公告 中国平安保险（集团）股份有限公司（以下简称"本公司"或"公司"）董 事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本公司 2024 年年度股东会（以下简称"年度股东会"）、2025 年第一次 A 股类 别股东会（以下简称"A 股类别股东会"）及 2025 年第一次 H 股类别股东会 （以下简称"H 股类别股东会"，连同年度股东会及 A 股类别股东会统称为"会 议"）是否有否决议案：无 一、 会议召开和出席情况 证券代码：601318 证券简称：中国平安 公告编号：临 2025-021 中国平安保险（集团）股份有限公司 (一)会议召开的时间：2025 年 5 月 13 日 (二)会议召开的地点：广东省深圳市观澜泗黎路 402 号平安（深圳）金融教育培 训中心平安会堂 (三)出席会议的普通股股东及其持有股份情况： 年度股东会 | 1、出席年度股东会的股东和代理人人数 | 5,986 | | --- | --- | ...

致：中国平安保险（集团）股份有限公司 关于 中国平安保险（集团）股份有限公司 2024 年年度股东会、 2025 年第一次 A 股类别股东会及 2025 年第一次 H 股类别股东会的 法律意见书 编号：AJFS2025SZ（20250513） 北京安杰世泽（深圳）律师事务所（以下简称"本所"）是在中华人民共和国 （以下简称"中国"，不包括香港特别行政区、澳门特别行政区及台湾地区）注册 并经中国司法部门批准从业的律师事务所。本所接受中国平安保险（集团）股份 有限公司（以下简称"公司"或"中国平安"）的委托，指派律师列席了中国平安于 2025 年 5 月 13 日召开的 2024 年年度股东会（以下简称"年度股东会"）、2025 年 第一次 A 股类别股东会（以下简称"A 股类别股东会"）、2025 年第一次 H 股类别 股东会（以下简称"H 股类别股东会"，与年度股东会及 A 股类别股东会合称"本 次股东会"）。根据中国平安的要求，并根据《中华人民共和国公司法》（以下简 称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公 司股东会规则》（以下简称"《股东会规则》"）等有关法律、法规 ...

证券代码：601318 证券简称：中国平安 公告编号：临 2025-022 中国平安保险（集团）股份有限公司 关于注销回购股份并减少注册资本通知债权人的公告 中国平安保险（集团）股份有限公司（以下简称"本公司"）董事会及全体董事 保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的 真实性、准确性和完整性承担法律责任。 一、通知债权人的原由 本公司于 2021 年 8 月 26 日召开的第十二届董事会第四次会议审议通过了 《关于审议回购公司股份的议案》（以下简称"2021 年 A 股回购方案"）。本公司 于 2022 年 8 月 26 日实施完成 2021 年 A 股回购方案，通过上海证券交易所交易 系统以集中竞价交易方式累计回购本公司 A 股股份 102,592,612 股，支付的资金 总额合计人民币 5,000,001,422.40 元（不含交易费用），最低成交价格为人民币 43.72 元/股，最高成交价格为人民币 51.96 元/股，回购均价为人民币 48.74 元/ 股，回购股份拟全部用于本公司员工持股计划，包括但不限于本公司股东会已审 议通过的长期服务计划。2021 年 A 股回购 ...

5月13日，中国平安（601318）2024年年度股东会在深圳举行，针对股东提出的"如何做好市值管理"的 问题，中国平安董事会秘书盛瑞生回应称，公司管理层高度重视市值管理工作，将其视为核心工作之 一，战略清晰、坚定执行、良好业绩是做好市值管理的基础。(上证报) ...

Core Perspective - The "Mom's Needlework" project aims to revitalize traditional intangible cultural heritage (ICH) through modern fashion integration and community support, promoting sustainable development and cultural transmission [1][3][5]. Group 1: Event Overview - The "Millennium Intangible Heritage Fashion Renewal" event took place from May 11 to 13, featuring 18 representatives from 10 ethnic groups discussing the beauty of Chinese ICH and exploring new development paths [1]. - The event included a fashion show where designers showcased clothing that blends traditional ICH elements with modern design concepts [2]. Group 2: Project Goals and Impact - The project focuses on creating a sustainable ecosystem that combines public welfare and commercial interests, aiming to make "Mom's Needlework" a model for rural revitalization and ICH public welfare [1][4]. - The initiative has already established a complete chain from skill training to product design and e-commerce sales, helping low-income women increase their income through their craftsmanship [5]. Group 3: Collaboration and Support - Various organizations, including the China Youth Development Foundation and fashion design institutions, are collaborating to provide professional guidance to ICH inheritors [2][4]. - The project has received support from Ping An Group, which aims to fulfill its corporate social responsibility by empowering rural revitalization and ICH transmission [6].

Investment Rating - The report gives China Ping An a "Buy" rating with a target price of 61.61 CNY per share, indicating a potential upside of 20.4% from the current price of 51.18 CNY as of May 7, 2025 [4]. Core Views - China Ping An is a leading insurance company in China with strong resilience in its business operations, being one of the most comprehensive financial groups with a complete range of financial licenses [1][12]. - The life insurance segment is expected to contribute over 70% of net profit by the end of 2024, driven by ongoing reforms and improvements in business quality [2]. - The property insurance segment shows resilience despite challenges, with a projected improvement in overall profitability due to better cost management [3]. Summary by Sections 1. Company Overview - China Ping An was established in 1988 and is the first joint-stock insurance company in China, with a wide range of financial services including insurance, banking, and asset management [1][12]. - The company has a diversified ownership structure with no controlling shareholder, reflecting a market-oriented governance model [15][16]. 2. Life Insurance - The life insurance and health insurance business is experiencing steady growth, with premium income rebounding post-pandemic, showing a 10.85% increase in 2023 [28]. - The company is focusing on high-quality transformation and has seen significant improvements in new business value, with a new business value rate of 26% in 2024, up 7.3 percentage points year-on-year [38]. - The total premium income from life insurance products reached 2,099 billion CNY in 2024, a 28.4% increase, with traditional life insurance contributing the most [33]. 3. Property Insurance - The property insurance segment, particularly auto insurance, remains a key revenue driver, with total premium income reaching 3,218 billion CNY in 2024, a 6.5% increase [42]. - The auto insurance business has shown resilience, recovering from a decline in 2021, with premium income of 2,233 billion CNY in 2024, up 4.4% [47]. - Non-auto insurance business is also improving, with premium income growing by 11.6% to 985 billion CNY in 2024 [42]. 4. Financial Performance - As of Q1 2025, the total assets and net assets of China Ping An were 13.18 trillion CNY and 1.3 trillion CNY, respectively, maintaining the top position in the industry [21]. - The company reported a significant increase in net profit for 2024, benefiting from a recovery in capital markets, with a year-on-year growth of 47.8% to 126.6 billion CNY [21].

Investment Rating - The report gives China Ping An a "Buy" rating with a target price of 61.61 CNY per share, indicating a potential upside of 20.4% from the current price of 51.18 CNY as of May 7, 2025 [4]. Core Views - China Ping An is a leading comprehensive financial group in China with a strong resilience in its business operations, particularly in life insurance, which is expected to contribute over 70% of net profit by the end of 2024 [2][3]. - The company is undergoing reforms to enhance the quality of its life insurance business, with improvements in individual insurance channels and a stable recovery in human resources capacity [2]. - The property insurance segment shows resilience despite challenges, with a projected improvement in overall profitability due to better cost management [3]. Summary by Sections Company Overview - China Ping An, established in 1988, is one of the most comprehensive financial groups in China, holding the most complete financial licenses and covering various sectors including insurance, banking, and asset management [1][12]. Life Insurance - The life insurance and health insurance business is steadily developing, with a significant recovery in premium income post-pandemic. In 2023, premium income grew by 10.85% to 601.9 billion CNY, and in 2024, it is expected to grow by 4.61% to 629.7 billion CNY [28]. - The company is focusing on high-quality transformation and has seen a substantial increase in new business value, with a new business value rate of 26% in 2024, up by 7.3 percentage points [38]. Property Insurance - The property insurance segment, particularly auto insurance, remains a key driver of revenue. In 2024, the original premium income for property insurance reached 321.8 billion CNY, with auto insurance contributing 22.33 billion CNY, reflecting a growth of 4.4% [42][47]. - The overall combined cost ratio improved, with a projected ratio of 98.3% in 2024, indicating a shift from underwriting losses to profitability [3]. Financial Performance - As of Q1 2025, the total assets of China Ping An reached 13.18 trillion CNY, with a net asset value of 1.3 trillion CNY, both ranking first in the industry [21]. - The company reported a significant increase in net profit for 2024, up 47.8% to 126.6 billion CNY, driven by a recovery in capital markets [21].

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of China Ping An, indicating a decline in revenue and net profit for Q1 2025 compared to the previous year [1][2] - As of May 8, the closing price of China Ping An was 51.96 yuan, with a rolling PE ratio of 8.09, marking a new low in 27 days, and a total market capitalization of 946.204 billion yuan [1] - The average PE ratio for the insurance industry is 8.19, with a median of 7.14, positioning China Ping An in 5th place among its peers [1][2] Group 2 - For Q1 2025, the company reported an operating income of 232.801 billion yuan, a year-on-year decrease of 5.20%, and a net profit of 27.016 billion yuan, down 26.40% year-on-year [2] - The number of shareholders as of March 31, 2025, was 794,557, an increase of 6,522 from the previous count, with an average holding value of 352,800 yuan and an average shareholding of 27,600 shares [1]

Core Viewpoint - China Ping An Insurance Group reported a stable performance in Q1 2025, with operating profit reaching 37.907 billion yuan, a year-on-year increase of 2.4%, driven by growth in life and health insurance segments [1][2] Financial Performance - Operating profit attributable to shareholders for Q1 2025 was 37.907 billion yuan, up 2.4% year-on-year - Life and health insurance business contributed 26.864 billion yuan to operating profit, reflecting a 5.0% increase [1] - Total assets surpassed 13 trillion yuan, reaching 13.18 trillion yuan [1] Business Strategy and Development - The company emphasized a focus on high-quality development and maintaining a stable operational foundation amid a complex external environment [1] - The multi-channel strategy, including the "4 channels + 3 products" reform, led to a new business value of 12.891 billion yuan in life and health insurance, a robust growth of 34.9% year-on-year [2] - The agent channel saw an 11.5% increase in new business value, while the bancassurance channel experienced a significant 170.8% growth [2] Health Insurance Collaboration - Ping An Health achieved revenue of 1.062 billion yuan in Q1 2025, with a year-on-year growth rate of 25.8%, exceeding market expectations [3] - The company is focusing on high-margin, synergistic businesses, forming a structure of "insurance + healthcare" and "insurance + home care" [3] - The number of enterprise clients served exceeded 2,100, with B-end paid users growing over 45% year-on-year [3] Medical Service Network - The company has established a comprehensive service network, integrating over 50,000 internal and external doctors and nearly 37,000 partner hospitals [4] - The self-operated flagship, Peking University Health Group, reported a revenue of approximately 1.2 billion yuan in Q1 2025, with a 9% year-on-year increase [5] Product and Service Innovation - The "Tian Ping An" insurance + service solution was launched to enhance customer experience by integrating insurance products with various services [6][7] - The "Three Savings" initiative aims to provide customers with a seamless experience in terms of time, cost, and peace of mind [6][7] Technology and Innovation - The company is advancing its "953" AI technology framework, which includes 9 databases, 5 laboratories, and 3 technology companies, to enhance operational efficiency [8][9] - In Q1 2025, AI service interactions reached approximately 450 million, covering 80% of customer service inquiries, significantly reducing operational costs [10] - The application of technology has improved underwriting speed, with 93% of life insurance policies processed in seconds and a 56% claim settlement rate [10]

Core Viewpoint - Ping An Group's strategic positioning of "finance as the present and healthcare as the future" has been validated through its recent financial performance, showcasing robust growth in both financial and healthcare sectors [1][2]. Financial Performance - In 2024, Ping An achieved a revenue of 1.03 trillion yuan and a net profit of 126.6 billion yuan, demonstrating steady growth [1]. - Ping An Health reported its first profitable year in 2024 with a revenue of 4.808 billion yuan and a net profit of 81.43 million yuan, followed by a quarterly revenue of 1.06 billion yuan and a profit of 57.9 million yuan in Q1 2025 [1]. Healthcare and Elderly Care Strategy - Ping An's healthcare and elderly care services have seen significant growth, with home care services generating 280 million yuan in 2024, a year-on-year increase of 413.5% [1]. - The contribution of home care clients to the average first-year premium of life insurance has tripled, indicating a strong synergy between healthcare and insurance [1]. Policy and Market Context - The Chinese government's focus on healthcare and elderly care, as outlined in various national policies, has created a favorable environment for Ping An's strategic initiatives [2][3]. - The aging population in China is a critical factor, with projections indicating that by 2025, 22% of the population will be over 60 years old, emphasizing the need for effective elderly care solutions [3]. Unique Business Model - Ping An's "managed care model" integrates various healthcare services under a family doctor system, providing personalized care throughout the patient's lifecycle [5]. - The company has established a vast network of approximately 50,000 doctors and nearly 37,000 partner hospitals, ensuring comprehensive coverage of healthcare services [5]. Innovative Services - Ping An has launched a "care alliance" for elderly rehabilitation, offering a range of home care services tailored to specific health needs [6]. - The company has developed a "safety transformation service" for home modifications to enhance safety for elderly clients, demonstrating a commitment to comprehensive elderly care [6]. Synergy with Financial Services - The integration of healthcare services with Ping An's insurance offerings has led to a significant increase in new business value for life and health insurance, with a 34.9% growth in Q1 2025 [9][10]. - The company's "insurance + healthcare membership" model has enhanced customer engagement, with 63% of its 245 million individual clients utilizing healthcare services [11]. Market Potential - Ping An's healthcare services have seen a 43% year-on-year revenue growth in both individual and corporate health business segments [12]. - The company is positioned to leverage its extensive client base and healthcare ecosystem to drive further growth in the insurance sector [12]. Technological Advancements - Ping An has invested in AI technologies to enhance healthcare services, achieving a 62% improvement in family doctor service efficiency through its AI-driven platforms [19][20]. - The introduction of AI-assisted diagnostic tools has significantly improved diagnostic accuracy, further solidifying Ping An's competitive edge in the healthcare market [20]. Future Growth Opportunities - Despite current achievements, Ping An's healthcare services have a penetration rate of only 13% among individual clients and 3% among corporate clients, indicating substantial room for growth [20]. - The ongoing integration of healthcare and insurance services is expected to create new value propositions for clients, enhancing Ping An's market position [21].