Ping An Good Doctor Reports Double-Digit Year-on-Year Growth in Revenue and Profit for the First Nine Months of 2025 Amid Steady Improvement and Quality Enhancement

On October 23, Ping An Healthcare and Technology Company Limited (stock abbreviation: “PINGAN GOOD DOCTOR”, 1833.HK) announced its results for the nine months ended September 30, 2025. The year 2025 marks the conclusion of China’s 14th Five-Year Plan and a critical year for the in-depth advancement of the Healthy China strategy. Driven by multiple factors including policy deepening, technological iteration, and upgrading demand, China’s greater health industry demonstrated steady growth and innovation-driven development in the first three quarters. As the flagship member of Ping An Group’s medical and elderly care ecosystem, the Hong Kong-listed PINGAN GOOD DOCTOR has always adhered to a user-centric approach. By collaborating with the Group to aggregate traffic from its comprehensive financial consumer clients (hereinafter referred to as the “F-side”) and corporate clients (hereinafter referred to as the “B-side”), and through the integration of online and offline services with comprehensive AI empowerment, the company has refined a closed-loop service model centered on online consultations and extending to offline clinics, enterprises, and homes. In the first three quarters, the company achieved steady growth in operating performance, recording total revenue of RMB 3.725 billion, a year-on-year increase of 13.6%; adjusted net profit reached RMB 216 million, representing a 45.7% increase compared to the same period last year. Notably, revenue from F-side and B-side corporate health businesses grew by 21.5% year-on-year, with the cumulative number of served corporate clients exceeding 4,500 during the period, further demonstrating the effectiveness of its “steady growth and quality-efficiency improvement” strategy.

During the period, the Company further advanced its “medical-insurance synergy” model, deepened its “insurance + medical and elderly care membership” service system, enhanced the competitiveness of its products and services, and strengthened both the breadth and depth of its cooperation with financial payers. As of the end of June, among Ping An Group’s nearly 247 million individual customers, approximately 63% simultaneously enjoyed service benefits provided by the medical and elderly care ecosystem. For these customers, the average number of contracts per customer and the average assets under management (AUM) per customer were 1.5 times and 4.1 times, respectively, those of individual customers not entitled to such ecosystem service benefits. Meanwhile, in the first half of 2025, customers enjoying service benefits from the medical and elderly care ecosystem accounted for nearly 70% of the new business value of Ping An Life Insurance. In the area of home-based elderly care, during the reporting period, the Company focused on refining services such as medical care, health management, emergency rescue, and remote caregiving. It also collaborated with industry, academia, and research institutions to formulate and release two group standards for smart elderly care platforms, thereby promoting the standardized development of the home-based elderly care industry. By the end of the reporting period, the number of users entitled to home-based elderly care services had increased by 41% compared to the end of 2024.

Focusing on the corporate health management sector, the company continuously gains insights into workplace health needs, constantly refines its product portfolio, and enhances channel development as well as operational service capabilities. During the period, by collaborating with Ping An Group to jointly create a “Commercial Insurance + Health Assurance Entrustment + Medical and Health Services” solution, the company provided customized services to a broad base of corporate clients, including on-site infirmaries, workplace health initiatives, and corporate health dashboards. These efforts enabled employees to enjoy a premium experience with curated services such as health check-ups, chronic disease management, medical consultation assistance, consultations with renowned specialists, and convenient medication purchases. In the first three quarters of 2025, the company cumulatively served over 4,500 corporate clients, with the number of B-side paying users increasing by 30.6% year-on-year, maintaining a strong growth momentum.

In recent years, the Company has steadfastly implemented Ping An Group’s dual-engine strategy of “Integrated Finance + Healthcare and Elderly Care.” By integrating online and offline channels and leveraging AI to comprehensively empower business applications, the Company has refined a closed-loop service system centered on in-clinic services, efficiently connecting in-store, corporate, and home-based care. Notably, its proprietary family doctor team, backed by dual accreditation from Peking University International Hospital and the World Organization of Family Doctors (WONCA), leverages the synergy between medical AI and a high-quality “Four-To” service network to provide users with proactive, full-lifecycle healthcare management encompassing consultation, diagnosis and treatment, and ongoing services. As of the end of the reporting period, the number of users covered by family doctor membership benefits exceeded 40 million. Meanwhile, as the sole corporate entity involved in drafting China’s first group standard for family doctor services, the *Specification for Remote and Internet-Based Health Services by Family Doctors*, the Company has collaborated with multiple industry associations and authoritative experts to continuously promote the standardized application of this group standard across 100 cities nationwide. To date, pilot units implementing this group standard have been established in Guangzhou, Shenzhen, Jinan, Beijing, Hangzhou, Chengdu, and other cities. These initiatives align closely with the national “Healthcare Infrastructure Strengthening Project” and the “Three-Year Action Plan for Enhancing the Experience of Family Doctor Contract Services,” garnering widespread acclaim from primary healthcare institutions across the country.

Furthermore, with the comprehensive empowerment of medical AI across application scenarios, the Company has continuously deepened its implementation to enhance the quality and efficiency of professional medical services. During the reporting period, it launched the “7+N+1” medical AI product system, achieving a closed loop of “data + models + scenarios.” Currently, the accuracy rate of treatment plans for complex diseases through Multidisciplinary Team (MDT) consultations has further increased to nearly 90%, helping reduce the average service cost per family doctor customer by 52% year-on-year.

Since its establishment in 2014, the company has seized policy opportunities, gained deep insights into user needs, and built robust barriers in the field of serious medical care, growing into a leading provider of healthcare and elderly care management services in China. By centering on online services and integrating them with offline, corporate, and home-based services to form a closed-loop ecosystem, the company continuously optimizes product and service quality while advancing technological applications. It is striving toward its vision of “ensuring every enterprise has a happy workplace, every family has a dedicated doctor, and every user enjoys health and longevity.” Looking ahead, the company will further strengthen synergy with Ping An Group, drive the digitalization and AI integration of its core services, and enhance reputation and customer satisfaction through a more integrated, seamless experience, continuing to co-create a better life centered on workplace and family health with its clients.