(Hong Kong, Shanghai, August 26, 2025) Ping An Insurance (Group) Company of China, Ltd. (“Ping An”, the “Company” or the “Group”, HKEX: 2318; SSE: 601318) today announced its 2025 interim results for the six month period ended 30 June 2025.

In 2025, leveraging Ping An’s previous achievements, the Group continued to drive reform and innovation, making significant progress in both its strategic advancement and service enhancements. China’s economy was generally stable and improved steadily despite pressure from a complex and severe external environment in the first half of 2025, but still faces short- and medium-term challenges including lackluster domestic demand. Facing opportunities and challenges, Ping An focused on its core integrated finance business and advanced health and senior care services under a customer needs-oriented approach and the “worry-free, time-saving, and money-saving” value proposition. Ping An delivered steady overall business results, showing growth resilience and innovation momentum. In the first half of 2025, the Group’s operating profit attributable to shareholders of the parent company reached RMB77,732 million, up 3.7% YoY. Net profit attributable to shareholders of the parent company was RMB68,047 million. The Group maintains steady growth of cash dividends and will pay an interim dividend of RMB0.95 per share in cash, up 2.2% YoY. Ping An Life achieved high-quality development in multiple channels. Life and health insurance (“Life & Health”) business’s new business value (“NBV”) surged 39.8% YoY in the first half of 2025. Ping An delivered solid insurance funds investment results and asset allocation capabilities continued to strengthen, with the unannualized comprehensive investment yield rising 0.3 pps YoY to 3.1%.

Ping An continued to strengthen its “integrated finance + health and senior care” strategy. The three key indicators of integrated finance model achieved balanced growth. The number of retail customers increased 4.6% YoY to nearly 247 million as of June 30, 2025, with 2.94 contracts per customer, up 0.3% YoY. Operating profit per customer amounted to RMB247.32, up 0.6% YoY in the first half of 2025. Differentiated competitive edges under the health and senior care strategy empowered Ping An’s core business. Customers entitled to service benefits in the health and senior care ecosystem contributed nearly 70% of Ping An Life’s NBV in the first half of 2025. Ping An continuously optimized the customer service experience through innovation. The Group strengthened its AI foundation, leveraged advanced technologies including big data and the Internet of Things to overcome the “time, space, cost and efficiency” constraints in traditional financial, health and senior care services. This approach also enabled more efficient resource allocation across these sectors. As a result, Ping An transformed its offerings from “niche-market low-frequency services” to “mass-market inclusive services”. In the first half of 2025, Ping An Life launched an “insurance + service” solution called “Tian Ping An”; the Group upgraded its “Global Emergency Rescue Service”; Ping An Good Doctor launched an AI medical product matrix covering all scenarios, the entire cycle and the entire ecosystem. In the first half of 2025, Ping An’s large AI models were called 818 million times and applied to over 650 diverse scenarios. Ping An is committed to providing nearly 247 million customers with “worry-free, time-saving, and money-saving” experience through service model innovation, service capability innovation, and technological application innovation.

Top Ten Business Highlights in 1H2025

1. Steady overall business results. Operating profit attributable to shareholders of the parent company reached RMB77,732 million, up 3.7% YoY. Net profit attributable to shareholders of the parent company was RMB68,047 million. Revenue was RMB546,469 million. Equity attributable to shareholders of the parent company reached RMB943,952 million, up 1.7% from the beginning of the year.
2. Steady growth of cash dividends. Ping An attaches importance to shareholder returns, and will pay an interim dividend of RMB0.95 per share in cash, up 2.2% YoY.
3. Life & Health developed steadily with high-quality development in multiple channels. NBV increased 39.8% YoY, and NBV margin based on annualized new premium (ANP) rose 9.0 pps YoY in the first half of 2025. Agent channel NBV grew 17.0% YoY driven by a 21.6% YoY increase in NBV per agent. Bancassurance channel NBV soared 168.6% YoY.
4. Ping An P&C maintained steady business growth and improved business quality. Premium income reached RMB171,857 million, up 7.1% YoY. Insurance revenue reached RMB165,661 million, up 2.3% YoY. Overall COR improved by 2.6 pps YoY to 95.2%, indicating sustained strong profitability. Auto insurance COR improved by 2.6 pps YoY to 95.5%, better than the market average.
5. Ping An delivered solid insurance funds investment results and continuously enhanced its asset allocation capability. In a complex and volatile market environment, Ping An’s insurance funds investment portfolio achieved an unannualized comprehensive investment yield of 3.1%, up 0.3 pps YoY. 10-year average net investment yield and 10-year average comprehensive investment yield were 5.0% and 5.1% respectively.
6. Ping An Bank maintained steady business performance and asset quality. Net profit was RMB24,870 million. Non-performing loan ratio was 1.05%. Provision coverage ratio was 238.48%.
7. Integrated finance model built a core competitive moat and enhanced customer development. Retail customers increased 1.8% from the beginning of the year to nearly 247 million as of June 30, 2025. 26.6% of customers held 4 or more contracts, with a 97.8% retention rate. 73.8% of customers have been served for 5 or more years, with a 94.6% retention rate.
8. Differentiation-enabled core businesses under health & senior care strategy. Ping An partnered with 100% of China’s top 100 hospitals and 3A hospitals as of June 30, 2025. Customers entitled to service benefits in the health and senior care ecosystem contributed nearly 70% of Ping An Life’s NBV. Nearly 210,000 customers were entitled to home-based senior care services, which covered 85 cities nationwide. Premium health and senior care communities were unveiled in 5 cities.
9. Ping An actively fulfilled its social responsibilities, supporting green development and rural vitalization. As of June 30, 2025, Ping An cumulatively invested nearly RMB10.80 trillion to bolster the real economy. Green investment of insurance funds totaled RMB144,482 million, and green loan balance reached RMB251,746 million. Green insurance premium income reached RMB35,836 million in the first half of 2025. Ping An provided RMB32,809 million for rural industrial vitalization in the first half of 2025. MSCI ESG Rating rose to AA, being No.1 in the multi-line insurance and brokerage industry in Asia-Pacific. Ping An was included in S&P Global’s Sustainability Yearbook (China Edition) as the only insurance company from the Chinese mainland.

10. Ping An further increased its brand value. The Group ranked No. 47 on the Fortune Global 500 list (No. 9 among financial services companies worldwide), No. 13 on the Fortune China 500 list, No. 27 on the Forbes Global 2000 list (No. 1 among Chinese insurers), and has held the No. 1 position on the Brand Finance Insurance 100 list for global insurance brand value for nine consecutive years.