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.

• Enhanced business quality, service capabilities, and AI enablement, with significant growth in core business areas.

• 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.

• Gross profit increased 13.9% year-over-year to RMB956.7 million, with gross margin rising 4.9 percentage points to 38.5%.

• 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: RMB956.7 million (up 13.9% year-over-year); gross margin: 38.5% (up 4.9 pps).

• Net profit: RMB219.8 million (up 62.9% year-over-year); adjusted net profit: RMB226.8 million (up 37.7%).

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

• Administrative expenses: RMB405.5 million (up 9.0%); selling and marketing expenses: RMB386.1 million (up 1.3%).

Outlook and guidance

• Focus on expanding core business, enhancing service quality, and leveraging AI for further growth.

• Continued investment in technology and service system improvements to drive future profitability.

• The company aims to further strengthen product innovation and scenario integration under the “insurance + health care” model, enhance end-to-end service capabilities, and promote tiered customer operations.

• 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.