证券代码：601318 证券简称：中国平安 公告编号：临 2025-045 会议由本公司监事会主席孙建一主持，与会监事经充分讨论，审议通过了如 下议案： 中国平安保险（集团）股份有限公司 第十一届监事会第九次会议决议公告 中国平安保险（集团）股份有限公司（以下简称"本公司"或"公司"）监事会及全 体监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。 本公司第十一届监事会第九次会议（以下简称"会议"）书面通知于 2025 年 10 月 14 日发出，会议于 2025 年 10 月 28 日在深圳市召开。会议应出席监事 5 人，实到监事 5 人，会议有效行使表决权票数 5 票。本公司部分高级管理人员列 席了会议，会议的召集、召开程序符合《中华人民共和国公司法》和《中国平安 保险（集团）股份有限公司章程》（以下简称"《公司章程》"）的相关规定，会 议合法、有效。 一、审议通过了《关于审议〈公司 2025 年第三季度报告〉的议案》 监事会意见如下： （1）《公司 2025 年第三季度报告》的编制和审核程序符合法律、行政法规、 中国证券监督管理委员会和《公司 ...

证券代码：601318 证券简称：中国平安 公告编号：临 2025-044 会议由本公司董事长马明哲主持，与会董事经充分讨论，审议通过了如下议 案： 一、审议通过了公司 2025 年第三季度报告及截至 2025 年 9 月 30 日止九个月的 未经审计业绩公告 表决结果：赞成 15 票、反对 0 票、弃权 0 票 中国平安保险（集团）股份有限公司 第十三届董事会第十一次会议决议公告 特此公告。 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。 本公司第十三届董事会第十一次会议（以下简称"会议"）书面通知于 2025 年 10 月 14 日发出，会议于 2025 年 10 月 28 日在深圳市召开。会议应出席董事 15 人，实到董事 15 人，会议有效行使表决权票数 15 票。本公司全体监事和高 级管理人员列席了会议。会议的召集、召开程序符合《中华人民共和国公司法》 和《中国平安保险（集团）股份有限公司章程》的相关规定，会议合法、有效。 中国平安保险（集团）股份有限公司董事会 本公 ...

Core Insights - China Ping An reported a revenue of 832.94 billion yuan for the first three quarters of 2025, marking a year-on-year growth of 7.4% [2] - The net profit attributable to shareholders reached 132.86 billion yuan, reflecting an 11.5% increase year-on-year, with a significant 45.4% growth in the third quarter alone [2] - The company’s net assets attributable to shareholders stood at 986.41 billion yuan as of September 30, 2025, showing a 6.2% increase after dividends [2] Insurance Sector Performance - The new business value for life and health insurance grew by 46.2% in the first three quarters of 2025, with agency per capita new business value increasing by 29.9% [2] - The bank insurance channel saw a remarkable 170.9% growth in new business value [2] - Property insurance premium income reached 256.25 billion yuan, up 7.1% year-on-year, with a comprehensive cost ratio of 97.0%, improving by 0.8 percentage points [2] Banking Sector Challenges - Ping An Bank reported a revenue of 100.67 billion yuan and a net profit of 38.34 billion yuan, both showing a decline [3] - The non-performing loan ratio was 1.05%, a slight decrease of 0.01 percentage points from the beginning of the year [3] - The bank's credit and other asset impairment losses decreased by 18.8% year-on-year to 25.99 billion yuan [3] Investment and Strategic Initiatives - The insurance investment portfolio achieved a non-annualized comprehensive investment return of 5.4%, up by 1.0 percentage points year-on-year, with the portfolio size exceeding 6.41 trillion yuan, a growth of 11.9% from the start of the year [3][4] - The company is focusing on long-term stable investment returns by increasing equity allocation while managing risks [4] - Ping An's home care services have expanded to 85 cities, serving nearly 240,000 clients, and high-quality health and wellness community projects are underway in five cities [4] Technological Advancements - The implementation of AI in claims processing has resulted in a reduction of fraud losses by 9.15 billion yuan [4] - AI service interactions exceeded 1.292 billion, covering 80% of total customer service volume, with an AI penetration rate of 10% [4] - AI-assisted sales reached 99.07 billion yuan, and the company has developed an "AI + human" system to enhance policy renewal rates by 23% [4]

Core Insights - China Ping An reported a revenue of 832.94 billion yuan for the first three quarters of 2025, marking a year-on-year growth of 7.4% [1] - The operating profit attributable to shareholders reached 116.26 billion yuan, up 7.2% year-on-year, while net profit attributable to shareholders increased by 11.5% to 132.86 billion yuan [1] - The company’s net assets attributable to shareholders stood at 986.41 billion yuan as of September 30, 2025, reflecting a 6.2% growth after dividends [1] Insurance Sector Performance - The life and health insurance segment showed significant improvement, with new business value growing by 46.2% year-on-year [1] - The agency channel's new business value increased by 29.9%, while the bancassurance channel saw a remarkable growth of 170.9% [1] - The property insurance segment reported a premium income of 256.25 billion yuan, a 7.1% increase, with a comprehensive cost ratio of 97.0%, improving by 0.8 percentage points [2] Banking Sector Insights - Ping An Bank's revenue for the first three quarters was 100.67 billion yuan, with net profit declining to 38.34 billion yuan [2] - The non-performing loan ratio was 1.05%, a slight decrease of 0.01 percentage points from the beginning of the year [2] - The bank intensified efforts in recovering non-performing assets, with credit and other asset impairment losses down by 18.8% to 25.99 billion yuan [2] Investment Performance - The investment portfolio of insurance funds achieved a non-annualized comprehensive investment return of 5.4%, up by 1.0 percentage points year-on-year [2] - The scale of the investment portfolio exceeded 6.41 trillion yuan, reflecting an 11.9% increase since the beginning of the year [2] - The company emphasized its strategy of increasing equity allocation while managing risks to ensure stable long-term investment returns [2] Strategic Developments - Ping An's home care services have expanded to cover 85 cities, with nearly 240,000 clients qualifying for services [3] - The company has initiated high-quality health and wellness community projects in five cities, with the Shanghai project already operational [3] - In the green development and rural revitalization sectors, the company reported premium income of 55.28 billion yuan from green insurance and provided 47.39 billion yuan in rural industry support [3] AI Integration - The company reported a reduction of 9.15 billion yuan in losses due to intelligent fraud prevention in property insurance [3] - AI service interactions exceeded 1.292 billion, covering 80% of total customer service volume, with a code penetration rate of 10% [3] - AI-assisted sales reached 99.07 billion yuan, and the implementation of an "AI + human" system improved policy renewal rates by 23% [3]

Financial Performance - Total operating income for Q3 2025 was RMB 31,283 million, a decrease of 9.2% year-on-year[8] - Net profit attributable to shareholders for Q3 2025 was RMB 13,469 million, down 2.8% year-on-year[8] - The company achieved operating revenue of CNY 1,006.68 billion for the first nine months of 2025, a year-on-year decrease of 9.8% due to declining loan interest rates and adjustments in business structure[19] - Net profit for the same period was CNY 383.39 billion, reflecting a year-on-year decline of 3.5%[19] - Total operating income for the first nine months of 2025 was RMB 100,668 million, a decrease of 9.1% compared to RMB 111,582 million in the same period of 2024[106] - Net profit for the first nine months of 2025 was RMB 38,339 million, a decline of 3.5% from RMB 39,729 million in the same period of 2024[106] - Operating income for Q3 2025 was RMB 30,661 million, a decrease of 6.7% compared to RMB 33,932 million in Q3 2024[109] - Net profit for the first nine months of 2025 was RMB 37,259 million, a decline of 2.6% from RMB 38,238 million in the first nine months of 2024[109] Asset Quality - The non-performing loan ratio stood at 1.05% as of September 30, 2025, remaining stable compared to previous periods[14] - The non-performing loan ratio stood at 1.05%, a slight decrease of 0.01 percentage points from the end of the previous year, indicating stable asset quality[20] - The bank's personal loan non-performing ratio decreased to 1.24% as of September 30, 2025, down 0.15 percentage points from the end of the previous year and down 0.03 percentage points from June 30, 2025[84] - The average mortgage loan non-performing rate was 0.45% as of September 2025, down from 0.47% at the end of the previous year[82] - The bank's provision coverage ratio was 229.60% as of September 2025, indicating strong risk mitigation capacity[78] Capital and Liquidity - The capital adequacy ratio was 13.48% as of September 30, 2025, exceeding the regulatory requirement of 10.75%[14] - The bank's core tier 1 capital adequacy ratio was 9.52% as of September 30, 2025, above the minimum requirement of 7.75%[14] - The bank's core tier 1 capital adequacy ratio is 9.52% as of September 30, 2025, up from 9.12% at the end of the previous year[87] - The leverage ratio increased to 6.80% as of September 30, 2025, compared to 6.47% at the end of the previous year, driven by growth in tier 1 capital[88] - The liquidity coverage ratio is 115.64% as of September 30, 2025, down from 136.15% at the end of the previous year[90] Deposits and Loans - The bank's total deposits increased by 0.6% to RMB 3,554,955 million compared to the end of 2024[11] - The personal deposit balance was 1.28 trillion yuan as of September 2025, a decrease of 0.6% year-on-year, while the average daily personal deposit balance for January to September was 1.31 trillion yuan, an increase of 4.2% year-on-year[27] - Corporate loan balance was 1.69 trillion yuan as of September 2025, an increase of 5.1% year-on-year, while corporate deposit balance was 2.28 trillion yuan, up 1.3%[32] - The bank's total loan and advance principal amounted to CNY 3.42 trillion as of September 2025, reflecting a 1.3% increase from the previous year[82] - Total deposits reached CNY 3.63 trillion in the first nine months of 2025, with a focus on low-cost deposit acquisition[75] Cash Flow - Net cash flow from operating activities for the first nine months of 2025 decreased by 47.7% to RMB 71,783 million[8] - Cash flow from operating activities for the first nine months of 2025 was RMB 71,783 million, a decrease of 47.7% compared to RMB 137,158 million in the same period of 2024[111] - The total cash inflow from operating activities was RMB 313,063 million in 2025, down 40.9% from RMB 529,143 million in 2024[113] Investment and Financing - The bank's financial investments in trading assets rose to RMB 698,487 million from RMB 629,571 million, indicating a growth of approximately 10.9%[102] - The bank issued RMB 30 billion in green financial bonds on September 23, 2025, with a fixed interest rate of 1.78% for a three-year term[98] - The total financing amount for on-balance and off-balance sheet credit reached CNY 49,000.33 billion by the end of September 2025[57] Customer and Market Growth - As of September 2025, the number of retail customers reached 127.59 million, a year-on-year increase of 1.6%, with retail customer assets under management (AUM) at 4.21 trillion yuan, up 0.5% from the previous year[26] - The number of wealth management clients reached 1.49 million as of September 2025, a growth of 2.4%, with private banking clients at 103,300, up 6.7% year-on-year; AUM for private banking clients was 1.97 trillion yuan[28] - The number of corporate clients reached 935,700 as of September 2025, a growth of 9.7% year-on-year[34] Risk Management - The bank has implemented targeted management measures for overdue loans, including tailored recovery and restructuring plans[86] - The bank continues to enhance its risk monitoring system and improve the effectiveness of non-performing asset disposal[84] Digital Transformation - The company plans to enhance its digital transformation and risk management strategies to support sustainable growth in retail banking[22] - The registered users of the Ping An Pocket Bank APP reached 180.30 million by September 2025, a growth of 3.6%, with monthly active users at 40.31 million[30]

中国平安：第三季度净利润648.1亿元人民币。 ...

Core Insights - China Ping An reported a revenue of 901.67 billion yuan for the first three quarters of 2025, marking a year-on-year growth of 4.6% [1] - The operating profit attributable to shareholders reached 116.26 billion yuan, up 7.2% year-on-year, with a significant 15.2% increase in the third quarter [1] - Net profit attributable to shareholders for the first three quarters was 132.86 billion yuan, reflecting an 11.5% year-on-year growth, with a remarkable 45.4% increase in the third quarter [1] Life and Health Insurance - New business value in life and health insurance for the first three quarters was 35.72 billion yuan, a 46.2% increase year-on-year, with the new business value rate rising by 9.0 percentage points [1] - The agent channel saw a 23.3% year-on-year growth in new business value, while the per capita new business value increased by 29.9% [1] - The bancassurance channel experienced a substantial growth of 170.9% in new business value, contributing 35.1% to the new business value of life insurance [1] Property Insurance - For the first three quarters, the original insurance premium income for property insurance was 256.25 billion yuan, a 7.1% increase year-on-year [2] - The comprehensive cost ratio improved by 0.8 percentage points to 97.0%, with auto insurance premiums reaching 166.12 billion yuan, up 3.5% [2] - The operating profit for property insurance was 15.14 billion yuan, reflecting an 8.3% year-on-year growth [2] Investment Performance - The investment portfolio of insurance funds achieved a non-annualized comprehensive investment return of 5.4%, up 1.0 percentage points year-on-year, with a net investment return of 2.8% [2] - The scale of the investment portfolio exceeded 6.41 trillion yuan, growing by 11.9% since the beginning of the year [2] - The company increased equity allocations and diversified into quality alternative assets to ensure stable long-term investment returns [2] Banking Operations - Ping An Bank reported a revenue of 100.67 billion yuan and a net profit of 38.34 billion yuan for the first three quarters [2] - The non-performing loan ratio was 1.05%, a slight decrease of 0.01 percentage points from the beginning of the year, with a provision coverage ratio of 229.60% [2] Customer Metrics - As of September 30, the number of individual customers reached nearly 250 million, a 2.9% increase since the beginning of the year [3] - The average number of contracts held per customer rose to 2.94, up 0.7% year-on-year, with a high retention rate of 97.5% for customers holding four or more contracts [3] - Retention rate for customers with service time of five years or more was 94.4%, significantly higher than that of first-year customers [3]

Core Insights - China Ping An achieved an operating profit of 116.26 billion yuan in the first three quarters of 2025, a year-on-year increase of 7.2%, with a significant third-quarter growth of 15.2% [2] - The net profit attributable to shareholders reached 132.86 billion yuan, marking an 11.5% year-on-year growth, and a substantial 45.4% increase in the third quarter [2] - As of September 30, the net assets attributable to shareholders stood at 986.41 billion yuan, reflecting a 6.2% growth since the beginning of the year [3] Life Insurance and Health Insurance - The life and health insurance segment saw a remarkable rebound, with new business value reaching 35.72 billion yuan, a year-on-year increase of 46.2% [4] - The new business value rate improved by 9 percentage points year-on-year, with agent channels growing by 23.3% and bank insurance channels surging by 170.9% [4] - The company launched key products such as "An Yi Zun Xiang" dividend annuity and "e Sheng Bao" medical insurance, while health management services covered over 16 million customers [4] Property and Casualty Insurance - The property insurance segment reported a premium income of 256.25 billion yuan, a 7.1% year-on-year increase, with operating profit reaching 15.14 billion yuan [5] - The combined cost ratio improved to 97.0%, a decrease of 0.8 percentage points year-on-year, while the investment portfolio exceeded 6.41 trillion yuan, growing by 11.9% [5] - The non-annualized comprehensive investment return rate reached 5.4%, up by 1.0 percentage point year-on-year [5] Banking Sector - Ping An Bank reported an operating income of 100.67 billion yuan and a net profit of 38.34 billion yuan, with a non-performing loan ratio dropping to 1.05% [6] - The bank's corporate loan balance grew by 5.1% to 1.69 trillion yuan, supporting the real economy [6] - The number of personal customers reached 250 million, with a retention rate of 97.5% for customers holding four or more contracts [6] Healthcare and Elderly Care Ecosystem - The healthcare and elderly care ecosystem has become a core competitive advantage, with nearly 63% of personal customers utilizing these services [7] - The average number of contracts per customer and assets under management (AUM) were significantly higher than those of ordinary customers [7] - AI technology has been heavily invested in, with over 1.29 billion service interactions and a claims settlement rate of 58% for the "111 Fast Claim" service [7] Sustainable Development - China Ping An's MSCI ESG rating improved to AA, ranking first in the Asia-Pacific insurance industry, while the Wind ESG rating reached the highest level of AAA [8] - Green insurance premium income amounted to 55.28 billion yuan, and the "Three Villages Project" provided 47.39 billion yuan in rural industry support [8]

Core Viewpoint - China Ping An is launching a global emergency rescue project that will provide risk management services to all customers, indicating a potential shift in the insurance industry from "post-event compensation" to "full-process risk management" [1] Group 1 - The new service will cover risks occurring indoors, outdoors, and abroad for customers [1] - This initiative reflects a broader trend in the insurance industry towards proactive risk management rather than reactive compensation [1]

Group 1 - China Ping An's stock closed at 57.76 yuan, with a slight increase of 0.02% on October 28 [1] - A block trade occurred with a total volume of 43,300 shares and a transaction amount of 2.501 million yuan, with a premium rate of 0.00% [1] - The buyer was GF Securities Co., Ltd., and the seller was Guotai Junan Securities Co., Ltd. [1] Group 2 - In the past three months, China Ping An has recorded a total of 8 block trades, amounting to 181 million yuan [1] - Over the last five trading days, the stock has increased by 1.10%, with a net inflow of 252 million yuan from main funds [1]