EQS-Media: Ping An Insurance (Group) Company of China, Ltd.: Unaudited Results For The Nine Months Ended 30 September 2025

EQS-Media / 28.10.2025 / 10:17 CET/CEST

Ping An Insurance (Group) Company of China, Ltd.

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(HKEX: 2318 (HKD counter) and 82318 (RMB counter); SSE: 601318)

UNAUDITED RESULTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2025

(28 October 2025, Shenzhen, China) - Ping An Insurance (Group) Company of China, Ltd. ("Ping An" or the "Company") (HKEX: 2318 (HKD counter) and 82318 (RMB counter); SSE: 601318) announced the unaudited results of the Company and its subsidiaries (the "Group") as of and for the nine months ended 30 September 2025 on 28 October 2025. Set out below are the financial and business highlights of the Group for the nine months ended 30 September 2025:

1. Business Highlights

China's economy achieved steady progress amid overall stability as domestic demand potential was unleashed and development resilience was enhanced in the first nine months of 2025. China dealt with various uncertainties in a complex external environment with the certainty of high-quality development. Ping An achieved steady growth in overall business by focusing on its core financial businesses and pursuing high-quality development.

• Overall business results significantly improved. In the first nine months of 2025, operating profit attributable to shareholders of the parent company grew 7.2% year on year to RMB116,264 million. Net profit attributable to shareholders of the parent company was RMB132,856 million, up 11.5% year on year in the first nine months of 2025, and surged 45.4% year on year in the third quarter of 2025. Revenue⁽¹⁾ was RMB901,668 million, up 4.6% year on year. Equity attributable to shareholders of the parent company was RMB986,406 million, up 6.2% year to date as of 30 September 2025.
• Life and health insurance ("Life & Health") business sustained growth with high-quality multi-channel development. In the first nine months of 2025, Life & Health's new business value ("NBV") increased 46.2% year on year to RMB35,724 million, and NBV margin based on annualized new premium rose 9.0 pps year on year. Agency channel NBV rose 23.3% year on year, driven by a 29.9% year-on-year increase in NBV per agent; bancassurance channel NBV surged 170.9% year on year. Bancassurance, community finance and other channels contributed 35.1% of Ping An Life's NBV.
• Ping An P&C achieved solid growth with consistently improving business quality. Ping An P&C's premium income rose 7.1% year on year to RMB256,247 million in the first nine months of 2025. Overall combined ratio ("COR") improved by 0.8 pps year on year to 97.0%.
• Insurance funds investment performance improved significantly. Ping An's insurance funds investment portfolio achieved an unannualized comprehensive investment yield of 5.4% in the first nine months of 2025, up 1.0 pps year on year.
• Ping An Bank maintained steady business performance and asset quality, with a rising core tier 1 capital adequacy ratio. Net profit was RMB38,339 million in the first nine months of 2025. Non-performing loan ratio dropped by 0.01 pps year to date to 1.05%, and provision coverage ratio was 229.60% as of 30 September 2025. Core tier 1 capital adequacy ratio rose 0.40 pps year to date to 9.52% as of 30 September 2025.
• Integrated finance-enabled core competitive moat and steadily improving customer development efficiency. Ping An's retail customers increased 2.9% year to date to nearly 250 million as of 30 September 2025. The retention rate of retail customers holding four or more contracts within the Group was 97.5%. The retention rate of retail customers served by Ping An for five or more years was 94.4%.
• Differentiation-enabled core businesses under the advancing health and senior care strategy. Ping An partnered with 100% of China's top 100 hospitals and 3A hospitals as of 30 September 2025. Nearly 240,000 customers were entitled to home-based senior care services, which covered 85 cities nationwide. Premium health and senior care communities have been unveiled in five cities.
• Ping An actively fulfilled its social responsibilities, supporting green development and rural vitalization. Ping An's green insurance premium income amounted to RMB55,279 million and funds provided for rural industrial vitalization via "Ping An Rural Communities Support" totaled RMB47,390 million in the first nine months of 2025.

Note: (1) Revenue increased 7.4% year on year to RMB832,940 million in the first nine months of 2025 under the Accounting Standards for Business Enterprises and other applicable regulations issued by the Ministry of Finance of the People's Republic of China.

2. Key Figures

For the nine months ended 30 September	2025	2024	Change (%)
Revenue (in RMB million)	901,668	861,817	4.6
Net profit attributable to shareholders of the parent company (in RMB million)	132,856	119,182	11.5
Basic earnings per share (in RMB)	7.56	6.73	12.3
Operating profit attributable to shareholders of the parent company(1) (in RMB million)	116,264	108,445	7.2
Basic operating earnings per share(1) (in RMB)	6.62	6.12	8.2
Life & Health NBV(2) (in RMB million)	35,724	24,438	46.2
Ping An P&C's COR(3) (%)	97.0	97.8	Improved by 0.8 pps
	30 September 2025	31 December 2024	Change (%)
Number of retail customers (in million)	249.55	242.47	2.9
Contracts per retail customer (contract)	2.94	2.92	0.7

Notes: (1) The computation of operating profit for the current period and the same period last year is based on the end-2024 long-run investment return assumption (4.0%).

(2) The computation of NBV for the current period and the same period last year is based on the end-2024 long-run investment return assumption (4.0%) and risk discount rate assumption (8.5%/7.5%).

(3) COR = (insurance service expenses + (allocation of reinsurance premiums paid - amount recovered from reinsurers) + (net insurance finance expenses for insurance contracts issued - net reinsurance finance income for reinsurance contracts held) + changes in insurance premium reserves)/insurance revenue.

For further details, please refer to the third quarterly result announcement published by the Company on the websites of HKEX (www.hkexnews.hk) and the Company (www.pingan.cn) on 28 October 2025 (the "Third Quarterly Results Announcement"). Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those defined in the Third Quarterly Results Announcement.

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End of Media Release

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Issuer: Ping An Insurance (Group) Company of China, Ltd.
Key word(s): Insurance

28.10.2025 CET/CEST Dissemination of a Press Release, transmitted by EQS News - a service of EQS Group.
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Language:	English
Company:	Ping An Insurance (Group) Company of China, Ltd.
	47th Floor, Ping An Finance Center, No.5033 Yitian Road, Futian District
	518033 Shenzen
	China
Phone:	[phone]
E-mail:	[e-mail]
Internet:	www.pingan.cn
ISIN:	XS2924174381
WKN:	A4ECGX
Listed:	Regulated Unofficial Market in Frankfurt
EQS News ID:	2219704

End of News	EQS Media

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2219704 28.10.2025 CET/CEST