Group 1 - The core point of the article is that China Ping An announced the convening of its 13th Board of Directors meeting on October 28, 2025, in Shenzhen, where it reviewed various documents including the proposal regarding Mr. Xie Yonglin's audit report [1] - For the first half of 2025, the revenue composition of China Ping An is as follows: life insurance accounted for 78.03%, property insurance for 34.37%, customer loans for 13.46%, securities investment interest income for 2.8%, and commission income (bank) for 2.55% [1] - As of the report date, the market capitalization of China Ping An is 1,045.9 billion yuan [1] Group 2 - The A-share market has surpassed 4,000 points, marking a significant resurgence after ten years of stagnation, with technology leading the market and a new "slow bull" pattern emerging [1]

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 或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 承董事會命 盛瑞生 公司秘書 中國深圳，2025年10月28日 於本公告日期，本公司的執行董事為馬明哲、謝永林、郭曉濤、付欣及蔡方方；非執行 董事為謝吉人、楊小平、何建鋒及蔡潯；獨立非執行董事為吳港平、金李、王廣謙、洪 小源、宋獻中及陳曉峰。 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條而作 出。 茲載列中國平安保險（集團）股份有限公司在上海證券交易所網站刊登的 「中國平安保險（集團）股份有限公司2025年第三季度報告」，僅供參閱。 证券代码：601318 证券简称：中国平安 公告编号：临 2025-043 中国平安保险（集团）股份有限公司 2025 年第三季度报告 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。 重要内容提示： ⚫ 本 ...

2 始终如一的战略定力：持续深化"综合金融+医疗养老"战略 集团战略 业绩综述 综合金融 主要业务 偿付能力 2025年三季度业绩报告 2025年10月 有关前瞻性陈述之提示声明 除历史事实陈述外，本演示材料中包括了某些"前瞻性陈述"。所有本公司预计或期待未来可能发生的(包括但不 限于)预测、目标、估计及经营计划都属于前瞻性陈述。某些字词，例如「潜在」、「估计」、「预期」、「预计」、 「目的」、「有意」、「计划」、「相信」、「将」、「可能」、「应该」，以及这些字词的其他组合及类似措辞， 均显示相关文字为前瞻性陈述。 前瞻性陈述涉及一些通常或特别的已知和未知的风险与不明朗因素。读者务请注意这些因素，其大部分不受本公 司控制，影响着公司的表现、运作及实际业绩。受上述因素的影响，本公司未来的实际结果可能会与这些前瞻性陈述 出现重大差异。这些因素包括但不限于：汇率变动、市场份额、同业竞争、环境风险、法律、财政和监管变化、国际 经济和金融市场条件及其他非本公司可控制的风险和因素。本报告中的前瞻性描述不构成本公司对投资者的实质性承 诺，投资者及相关人士均应当对此保持足够的风险认识，并且应当理解计划、预测等前瞻性描述与承诺 ...

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]