Ping An Healthcare and Technology Company (1833) H1 2026 earnings summary

Executive summary

• Advanced a managed care model with Chinese characteristics, leveraging synergies with Ping An Group and technology enablement to drive growth and operational quality.

• Core business pillars are commercial insurance and rapidly growing healthcare and insurance services, supported by the Four-Access Service System (online, in-hospital, at-home, corporate).

• AI-enabled services and digital transformation are enhancing customer experience and operational efficiency, with AI Doctor users reaching 9.7 million in 1H 2026.

• Revenue for the six months ended 30 June 2026 was RMB2,483.8 million, down 0.7% year-over-year, with a significant shift in revenue mix toward corporate health management, which grew 65.1% to RMB713.8 million and now represents 28.7% of total revenue, up 11.5 percentage points year-over-year.

• Net profit attributable to shareholders rose 63.5% year-over-year to RMB219.3 million, and adjusted net profit increased 37.7% to RMB226.8 million.

Financial highlights

• Revenue: RMB2,483.8 million (down 0.7% year-over-year); gross profit: RMB957 million (up 13.9% year-over-year); gross margin: 38.5% (up 4.9 pps).

• Corporate health management revenue grew 65.1% year-over-year to RMB713.8 million, now 28.7% of total revenue.

• Net profit attributable to shareholders increased 63.5% year-over-year to RMB219.3 million; adjusted net profit was RMB226.8 million, up 37.7%.

• Earnings per share: RMB0.10 basic and diluted (up from RMB0.07 year-over-year).

• Cash and cash equivalents: RMB4,421.4 million as of 30 June 2026; total available funds: RMB9,641.4 million.

Outlook and guidance

• Focus on expanding core businesses, especially corporate health management and commercial insurance enablement, and leveraging AI for further growth.

• Plans to accelerate client acquisition in corporate health management and boost customer retention and value through integrated online/offline operations.

• Continued investment in AI and digital technologies to drive service efficiency and experience.

• No short-term plans for dividends; capital will be prioritized for business development and strategic investments.