EQS-Media: UNAUDITED RESULTS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026

EQS-Media / 28.10.2026 / 11:29 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 SEPTEMBER 30, 2026

(October 28, 2026, 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 September 30, 2026 on October 28, 2026. Set out below are the financial and business highlights of the Group for the nine months ended September 30, 2026:

1. Business Highlights

China's economy sustained steady development against pressure despite a complex, severe external environment in the first nine months of 2026. Key economic indicators manifested growing positive changes, showing development momentum with new growth drivers, improving structure, and better quality and efficiency. Ping An consistently enhances its integrated finance advantages and pursues high-quality development under a customer needs-oriented approach by advancing its tech-enabled "integrated finance + health and senior care" dual-pronged strategy.

• The Group maintained robust overall business performance. The Group's operating profit attributable to shareholders of the parent company grew 8.3% year on year to RMB125,905 million in the first nine months of 2026. The Group's equity attributable to shareholders of the parent company was RMB1,044,366 million, up 4.4% year to date as of September 30, 2026.
• Life and health insurance ("Life & Health") business grew steadily by advancing its high-quality development strategy. Life & Health's operating profit rose 5.7% year on year to RMB87,238 million in the first nine months of 2026. By consistently taking advantage of multiple channels, Ping An Life achieved synergistic multi-channel development, boosting non-agency channels' share in new business value ("NBV")⁽¹⁾ by 1.8 pps year on year to 36.9%. Regarding products, Ping An Life proactively optimized the mix of premium payment periods ("PPP") by transforming long-PPP products. Long-PPP products' share in the agency channel's new business⁽²⁾ increased by over 10 pps year on year, indicating steady growth in business value.
• Ping An Property & Casualty ("Ping An P&C") sustained business growth with improving quality and efficiency. In the first nine months of 2026, Ping An P&C's premium income rose 3.5% year on year to RMB265,215 million; premium income of new energy vehicle insurance climbed 21.2% year on year. Insurance revenue grew 3.8% year on year to RMB263,035 million. Overall combined ratio ("COR") improved by 1.4 pps year on year to 95.6%, indicating sustained strong profitability.
• Ping An achieved robust insurance funds investment results. Insurance funds investment portfolio grew 5.2% year to date to RMB6.83 trillion as of September 30, 2026. The portfolio achieved a 4.8% 10-year average net investment yield and a 4.9% 10-year average comprehensive investment yield, both higher than the embedded value long-run investment return assumption.
• Ping An Bank boosted both revenue and profit, maintained stable asset quality, and raised its core tier 1 capital adequacy ratio ("CAR"). Revenue and net profit rose 2.4% and 2.2% year on year to RMB103,100 million and RMB39,186 million respectively in the first nine months of 2026. Non-performing loan ratio was 1.05% and provision coverage ratio was 214.75% as of September 30, 2026. Core tier 1 CAR rose 0.25 pps year to date to 9.61%.
• Ping An upgraded services to improve comprehensive customer experience under its "Service Year 2026" initiative. Express Service that can "get things done driven by one prompt" facilitated AI-enabled inquiry, consultation and processing in 90% of Ping An's business scenarios as of September 30, 2026. Express Service cumulatively served users over 150 million times as a reliable AI assistant to Ping An's about 97 million monthly online active customers. Ping An actively implements the "Healthy China" initiative and the national strategy for "actively responding to population aging in China," and is building its pioneering presence in a new sector: brain health management. Ping An launched integrated brain health management services covering Alzheimer's disease-related early screening, diagnosis, treatment, and ongoing care in September 2026.
• Integrated finance boosted core competence and customer operation efficiency. As of September 30, 2026, Ping An's retail customers increased 1.9% year to date to nearly 256 million, among which high-value customers grew 3.1% year to date to 41.51 million. The retention rate of customers holding products across three or more product lines within the Group was 99% in the 12 months ended September 30, 2026.
• The advancing health and senior care strategy enabled core businesses via differentiation. Ping An consistently upgraded its payment capabilities, and its health and senior care services covered nearly 195 thousand corporate clients as of September 30, 2026. Ping An built a robust health care service network by partnering with 100% of China's top 100 hospitals and 3A hospitals as well as nearly 250 thousand pharmacies. Ping An's payment network enables members of corporate health management programs to buy medicines offline by displaying a QR code. Ping An boosted use of AI Doctor, which was used by nearly 13 million persons in the first nine months of 2026. Ping An strengthened its medical expert teams and capabilities, adding 42 national and provincial/municipal medical experts in the first nine months of 2026. Moreover, Peking University International Hospital successfully performed China's first non-invasive precise radiosurgery for brain metastases from lung cancer.
• The advancing "AI in ALL" strategy accelerated AI-enabled business value creation. Average daily token consumption exceeded 330 billion in September 2026, over 10 times greater than in December 2025. Token output per compute unit increased by 509% while cost per token decreased by 81%, which supported AI scalability with greater efficiency and cost-effectiveness. For employees, the AI code penetration rate reached 80% and the efficiency gain in AI-enabled operation pilots reached 25%. For customers, Express Service cumulatively served users over 150 million times and resolved 91% of customer requests end-to-end with AI, emerging as the primary interface for integrated financial services. AI Doctor served users over 62 million times in the first nine months of 2026, and consistently developed as "the most professional AI doctor" with further enhanced multi-disciplinary capabilities for complex diseases.
• Ping An actively fulfilled its social responsibilities, supporting green development and rural vitalization. Ping An's green insurance premium income reached RMB64,196 million, and funding for rural industrial vitalization via "Ping An Rural Communities Support" totaled RMB40,794 million in the first nine months of 2026.

Notes:

(1) Non-agency channels' share in NBV refers to the proportion of bancassurance, community finance and other channels' NBV to Ping An Life's NBV.

(2) Long-PPP products' share in the agency channel's new business: the proportion of first-year premium ("FYP") of insurance policies with an eight-year or longer PPP or a 10-year or longer guaranteed renewal period to total FYP of regular premium insurance policies (excluding universal insurance) sold via the agency channel.

1.2 Key Figures

For the nine months ended September 30	2026	2025	Change (%)
Revenue (in RMB million)	787,634	901,668	(12.6)
Operating profit attributable to shareholders of the parent company (in RMB million)	125,905	116,264	8.3
Net profit attributable to shareholders of the parent company (in RMB million)	96,645	132,856	(27.3)
Basic operating earnings per share (in RMB)	7.23	6.62	9.2
Basic earnings per share (in RMB)	5.55	7.56	(26.6)
Life & Health NBV (in RMB million)	30,987	35,724	(13.3)
Ping An P&C's COR(1) (%)	95.6	97.0	Improved by 1.4 pps
	September 30, 2026	December 31, 2025	Change (%)
Number of retail customers (in million)	255.80	250.97	1.9
Contracts per retail customer (contract)	2.95	2.94	0.3

Notes:

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

(2) Unless otherwise specified, the financial figures in this report are denominated in Chinese Renminbi ("RMB").

For further details, please refer to the third quarterly results announcement published by the Company on the websites of HKEX (www.hkexnews.hk) and the Company (www.pingan.cn) on October 28, 2026 (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.

End of Media Release

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

28.10.2026 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:	XS2924174XXX
WKN:	A4ECGX
Listed:	Regulated Unofficial Market in Frankfurt
LEI Code:	529900M9MC28JLN35U89
EQS News ID:	2423792

End of News	EQS Media

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2423792 28.10.2026 CET/CEST