Nan Fang Du Shi Bao·2025-10-28 12:04Core 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]