Ping An Insurance (Group) Company of China (2318) Q3 2026 earnings summary

Executive summary

• 9M 2026 operating profit attributable to parent shareholders rose 8.3% to RMB125,905mn, while reported net profit fell 27.3% to RMB96,645mn amid a 3Q equity-market pullback.

• Strategy focused on technology-enabled integrated finance, health and senior care, higher-value growth, service innovation and regulatory compliance.

Financial highlights

• Revenue fell 12.6% to RMB787,634mn; investment income declined to RMB49,489mn from RMB157,695mn.

• Profit before tax fell to RMB131,111mn from RMB181,027mn; net impairment losses on financial assets rose to RMB55,421mn from RMB42,182mn.

• Operating profit rose 8.3% to RMB125,905mn; basic operating EPS increased 9.2% to RMB7.23, while basic EPS fell 26.6% to RMB5.55.

• Operating cash flow increased to RMB566,872mn from RMB340,147mn; period-end cash and cash equivalents were RMB605,543mn.

• NBV was RMB30,987mn, down 13.3% YoY, with a short-term adjustment amid industry-wide changes.

Outlook and guidance

• Short-term economic challenges are expected amid a changing external environment, while China's long-term high-quality growth trajectory is expected to remain intact with policy support.

• Priorities include optimizing portfolios, strengthening growth drivers, upgrading services and advancing integrated finance plus health and senior care for more resilient growth.

• OPAT growth momentum continued from 1H 2026, supported by core business performance and integrated-finance synergies; investment performance and net profit may improve if equity markets recover, subject to market conditions.