Ping An Insurance (Group) Company of China (2318) Q1 2026 earnings summary

Executive summary

• Achieved resilient performance in 1Q26 with operating profit attributable to shareholders rising 7.6% year-on-year to RMB40,780 million and equity attributable to shareholders up 1.8% year-to-date to RMB1,018,310 million.

• Focused on value growth, customer engagement, and digital service enhancements, supported by integrated finance and health & senior care strategies.

Financial highlights

• Operating profit after tax (OPAT) rose 7.6% year-over-year to RMB40.8 bn; net profit declined 7.4% year-over-year to RMB25.0 bn, impacted by short-term investment volatility.

• Total revenue for Q1 2026 was RMB238,477 million, down 7.1% year-on-year.

• Shareholders' equity increased 1.8% year-to-date to RMB1,018.3 bn.

• Net investment yield remained stable at 0.8%, while comprehensive investment yield dropped to 0.2%.

• Basic operating EPS increased 7.9% to RMB2.33; basic EPS declined 7.1% to RMB1.43.

Outlook and guidance

• Management expects continued external challenges but remains committed to high-quality, sustainable growth through integrated finance and health & senior care strategies.

• Short-term market volatility expected to ease with recovery, supporting future profitability.

• Continued focus on service innovation and customer-centric growth.