Ping An Insurance (Group) Company of China (2318) investor relations material

Executive summary

• Operating profit after tax attributable to shareholders rose 8.3% YoY to RMB84,196 million for H1 2026; net profit surged 36.1% YoY to RMB92,585 million, with revenue up 12.6% YoY to RMB615,351 million.

• Interim dividend increased 3.2% YoY to RMB0.98 per share, totaling RMB17.7 billion for 2026, reflecting a continued focus on shareholder returns.

• Equity attributable to shareholders grew 2.8% YTD to RMB1,028,084 million.

• Retail customers reached 253 million, with a 99% retention rate for those holding products across three or more lines.

• Continued progress in integrated finance and health & senior care, leveraging AI and technology to drive customer value and operational efficiency.

Financial highlights

• Life & Health operating profit rose 2.3% YoY to RMB55,872 million; NBV up 11.2% YoY to RMB24,847 million, with margin and product mix improvements.

• Property & Casualty premium income up 4.0% YoY to RMB178,751 million; NEV insurance premium up 21.5% YoY; COR improved to 95.1%.

• Banking net profit increased 3.3% YoY to RMB25,696 million; revenue up 1.8% YoY to RMB70,617 million; NPL ratio stable at 1.05%.

• Asset management net profit surged 209.4% YoY to RMB9,658 million; AUM exceeded RMB9.2 trillion.

• Group comprehensive solvency margin ratio at 198.1%, up 4.8 pps YTD.

Outlook and guidance

• Strategic focus on value-oriented growth, AI-driven synergies, and expanding health & senior care networks.

• Continued investment in technology to enhance service efficiency and customer experience.

• Expectation of further capitalizing on integrated finance and health ecosystems for sustainable growth.

• Plans to optimize business portfolios, strengthen growth drivers, and deliver resilient growth in the second half of 2026.

• Focus on regulatory compliance and service innovation.