Ping An Healthcare and Technology Company Limited ("Ping An Good Doctor" or the "Company"; Stock Code: 1833.HK) announced its results for the first-quarter ended March 31, 2026.
During the period, the Company recorded total revenue of RMB1.16 billion, representing a year-on-year increase of 9.1%. Net profit reached RMB79.1 million, up 138.4% year on year, while adjusted net profit rose 45.8% year on year to RMB84.4 million. The Company delivered a solid start to the year, with earnings quality further improved.
Amid policy tailwinds from the "Healthy China" initiative and the silver economy and senior care sectors, the Company, as the flagship of Ping An Group's health and senior care ecosystem, continued to advance the Group's "integrated finance + health and senior care" dual-driver strategy, steadily building a managed care model with Chinese characteristics (HMO) and continuously unlocking its long-term growth momentum.
Commercial Insurance Enablement and Corporate Health Management Businesses Continue to Gain Momentum; Profitability of a China-style HMO Model Gradually Validated
In the commercial insurance enablement business (F-end), Ping An Good Doctor continued to deepen its integration with insurance companies' membership service systems. By enriching healthcare service benefits, the Company enhanced the appeal of insurance products while supporting customer acquisition through scenario-based insurance marketing. This not only helped increase service value on the insurance side, but also generated sustained, high-value user conversions for the Company's own healthcare service system.
In the corporate health management business (B-end), growing corporate focus on employee wellbeing continued to support demand. In response, Ping An Good Doctor further strengthened its one-stop health management solutions for corporate clients. During the period, the Company accelerated the expansion of its B-end customer base, deepened its product and service capabilities, and continued to improve online-to-offline operations and conversion. As of the end of the reporting period, the number of paying corporate clients served by the Company over the past 12 months exceeded 7,500, up 89% year on year, underscoring the expanding commercial potential of corporate health management services.
Further Expanding the "online, in-home, in-hospital, and in-company" Service Network; AI Adoption Improve Healthcare Service Quality and Efficiency
During the period, the Company continued to strengthen its full-scenario service system covering "online, in-hospital, in-home, and in-company" scenarios, building a closed-loop service model across multiple touchpoints while actively introducing high-quality third-party service providers to enrich its service and product offerings.
· Online services, the number of users of AI Doctor continued to rise during the period, surpassing 5.6 million;
· In-hospital services, the Company expanded the coverage of its QR code payment service, "Ping An Health Pay", for offline medication purchase and other corporate health management scenarios, which now covers 111,000 pharmacies nationwide;
· In-home services, the number of customers entitled to home-based senior care services further increased to over 290,000;
· In-company services, the Company added multiple Workplace Clinics during the period, continuing to enhance the health service experience for corporate employees.
In addition, the Company continued to strengthen its AI healthcare capabilities and advance deployment. Through its "AI + human doctor" model, the Company delivered a differentiated service experience that combines professional expertise with a more personalized touch. During the period, the accuracy of multidisciplinary team ("MDT") treatment plans for complex diseases remained stable at approximately 95%, reflecting the steady improvement in both the quality and efficiency of the Company's professional medical services as AI deployment deepens.
Recently, Ping An Group launched its "Service Year 2026" initiative. Ma Mingzhe, Chairman of Ping An Group, said that, as the financial industry returns to its roots and moves toward high-quality development, demand for health, medical and senior care services is steadily increasing, bringing new opportunities for Ping An's "integrated finance + health and senior care" service system. Ping An Good Doctor will continue to uphold its service proposition of "Professional, Ping An in your heart", continuously refine and strengthen its service capabilities, and remain committed to providing families and corporates with more professional, reliable and warm family doctor and senior care concierge services.
