平安前三季度寿险新业务价值增长46.2%，银保渠道新业务价值大增170.9%

Core Insights - China Ping An reported a significant increase in operational profit and net profit for the first three quarters of 2025, with operational profit reaching 116.264 billion yuan, a year-on-year growth of 7.2%, and net profit at 132.856 billion yuan, up 11.5% [1] Financial Performance - The operational profit for Q3 alone grew by 15.2%, while the net profit for the same quarter saw a substantial increase of 45.4% year-on-year [1] - As of September 30, the group's net assets attributable to shareholders reached 986.406 billion yuan, reflecting a 6.2% growth after dividends [1] Business Segments - The life and health insurance sectors showed strong performance, with new business value reaching 35.724 billion yuan, marking a 46.2% increase year-on-year [1] - The agent channel's new business value grew by 23.3%, while the per capita new business value increased by 29.9% [1] - The bancassurance channel experienced a remarkable growth of 170.9%, contributing 35.1% to the new business value of Ping An's life insurance [1] Product and Service Development - Ping An launched several upgraded wealth and pension products, including the "An Yi Zun Xiang" dividend annuity product and the new "e Sheng Bao" series of medical insurance products catering to various customer segments [2] - The company focused on enhancing capabilities in medical health, home care, and high-quality elderly care services, serving over 16 million customers in health management by the end of Q3 2025 [2] - Home care services have expanded to cover 85 cities nationwide, with nearly 240,000 customers qualifying for home care services [2] - The high-quality elderly care community projects have been established in five cities, with the Shanghai project "Jing'an 8" now operational and the Shenzhen project expected to begin trial operations by the end of the year [2]