Ping An Health Reports 25.8% Year-on-Year Revenue Growth in Q1 2025, with Profitability Accelerating

Revenue and Profit Surge, Driven by "AI + Health Care" Value Empowerment

SHANGHAI and HONG KONG, April 24, 2025 /PRNewswire/ -- Ping An Healthcare and Technology Company Limited ("Ping An Good Doctor", "Ping An Health" or "the Company", Stock Code: 1833.HK) announced its first-quarter results for the three months ended March 31, 2025.

In the first quarter of 2025, the Chinese economy continued its upward trajectory, accelerating the construction of a new development pattern with the expansion of domestic demand as a strategic cornerstone. Facing new opportunities, Ping An Health consolidated its foundation in health and senior care, continued to implement its strategy of synergies between health care and insurance. It is committed to representing payers, integrating suppliers, providing the best cost-effective health and senior care services, and building professional family doctors and senior care concierges to make customers "worry-free, time-saving, and money-saving." During the period, Ping An Health's overall operations were stable, demonstrating strong resilience and potential. The Company recorded revenue of RMB1.06 billion, a year-on-year increase of 25.8%; adjusted net profit hit RMB57.9 million, with revenue returning to double-digit growth and profitability accelerating. Among them, revenue of integrated finance business ("F-end") and corporate health management business from corporate clients ("B-end") increased by 43% year-on-year, and the number of B-end paying users increased by over 45%.

Synergies between Health Care and Insurance Unleash Potential, F/B-End Revenue Grows Rapidly

During the period, the Company continued to deeply synergize with the "integrated finance + health and senior care" strategy through models such as "insurance + health care" and "insurance + senior care," achieving steady growth in performance.

F-end business continued to deepen the "collaboration between health care and claim settlement" and the "insurance + health and senior care membership" mode, helping Ping An Group's core integrated finance business enhance product competitiveness and realize the continuous release of synergy potential. By the end of 2024, customers enjoying service benefits from the health and senior care ecosystem covered approximately 70% of the new business value of life insurance. Over 21 million Ping An Life Insurance customers used health management services, with the usage rate of health management services increasing by 2.1 percentage points year-on-year, of which the proportion of new contractual customers using health management services was nearly 79%.

B-end business accelerated the expansion of corporate health management business. The Company created a differentiated product service matrix through in-depth research on needs of employee health management and comprehensively renewed the "commercial insurance + health protection entrustment + medical and health services" product system, providing comprehensive, high-quality, and cost-effective corporate employee health management service systems for different customers. During the period, the Company's cumulative number of enterprises served exceeded 2,100, and the number of B-end paying users increased by over 45%.

Consolidating the Construction of Two Service Hubs, Strengthening the Resilience of Health and Senior Care Services

In recent years, residents' health awareness has significantly improved. In order to better meet residents' health consumption needs and continuously improve the service capacity of health and senior care integration, Ping An Health continuously built two high-quality service hubs centered around family doctors and senior care concierges, based on the "worry-free, time-saving, and money-saving" value concept. Centering on medical, health, and senior care service scenarios, the Company also upgraded its "online, in-store, in-home, and in-company" service network.

During the period, the Company's family doctor membership was over 20 million. At the same time, based on the dual certification of Peking University International Hospital and the World Organization of Family Doctors (WONCA), its family doctor service level continued to develop and improve. The Company constantly explored the standardization and authoritative certification path of "Internet + medical care, senior care, nursing, and health" and family doctor services with authoritative experts in the industry, promoting the high-quality development of family doctor signing services. Among them, the "Ping An Family Doctor" team obtained the graduation certificate of the first Continuing Professional Development (CPD) program for family doctors organized by WONCA. It marks that Ping An Family Doctor's professional ability has been internationally recognized and symbolizes the successful integration of China's family doctor training system with international standards.

In addition, based on the "3-in-1" senior care concierge, focusing on the senior care scenarios of "medical care, housing, nursing and entertainment", Ping An Health continued to deepen the standardized service system for home-based senior care, and constantly polished the coverage of the high-quality service network. In 2024, the contribution of home-based senior care customers to the first-year premium of life insurance per piece increased by 3 times. In the first quarter, the company launched three new services in the "housing, nursing, and entertainment" alliances, including the launch of the new "safety emergency services" in 20 cities, the "caring managers" to bridge the last mile of caregiving, and the provision of spiritual care services through high-quality educational resources and travel and residence bases. By the end of the period, the number of home-based senior care service users entitled to benefits increased by 15% compared with the end of 2024.

Medical AI Value Empowerment Helps Improve the Quality and Efficiency of Health and Senior Care Services

During the period, the Company accelerated the construction of its AI capabilities, continuously carried out the deployment of the DeepSeek large language model and deepened the verification in real-world health and senior care scenarios. Through the doctor's workbench Ping An Doctor's Home^TM under the large multi-modal medical AI model Ping An Medical Master^®, the Company has built 12 series of business model groups to help improve the efficiency of family doctor services by approximately 62%. The self-developed AI-powered diagnosis system has covered the diagnostic knowledge of more than 2,000 diseases, with a triage accuracy of over 99% and an auxiliary diagnostic accuracy of over 95%. The newly created Al health manager helps the improvement rate of abnormal indicators in chronic diseases reach 90%. The Company has launched "Ping An Xin Yi," a new AI-powered digital doctor service that leverages the Al model supported by digital human technology and extensive medical data. Acting as a digital avatar of real doctors, its provides users with diverse services, including online consultation, offline medical assistance, report and test result interpretation, and medication reminders, now covering more than 20 practical medical scenarios.

In addition, the Company is committed to its CARE sustainable development strategy guided by the principle of "Technology for Humanity, Healthcare with Warmth," and fully carried out the "Yilu Jianxing" national health literacy improvement series of actions. By entering industrial parks and enterprises, and through health knowledge popularization, special screenings, and public welfare free clinics, it contributes to achieving health for all. During the period, with its outstanding achievements in sustainable development, Ping An Health was recognized as a "2025 Forbes China ESG Benchmark in Industry Development."

Li Dou, Chairman and CEO of Ping An Health, said: "Looking ahead, under the guidance of Healthy China 2030, Ping An Health will continue to deepen technological empowerment, consolidate data security, practice social responsibility. We are also committed to advancing the high-quality development of the medical and health industry, simultaneously creating long-term value for users, shareholders, and society."

SOURCE Ping An Healthcare and Technology Company Limited