On August 19, Ping An Healthcare and Technology Company Limited (stock name "PA GOODDOCTOR", 1833.HK, hereinafter referred to as "the Company") announced its interim results for the period ended June 30, 2025.

In the first half of 2025, the Company adhered to its original mission of "building professional bridges between doctors and patients, and wholeheartedly safeguarding public health." It thoroughly implemented Ping An Group's dual-drive strategy of "comprehensive finance + healthcare and elderly care," continuously strengthened the core hub construction of family doctors and elderly care managers, and explored innovation through advanced technology to provide users with "worry-free, time-saving, and money-saving" products and services. During the period, the Company maintained steady overall operations, demonstrated strong growth momentum, and achieved dual improvements in revenue and profitability. The performance report showed total revenue of 2.5 billion yuan, up 19.5% year-on-year; net profit attributable to shareholders of 134 million yuan, up 136.8% year-on-year. Among these, revenue from comprehensive financial client-end (F-end) and enterprise-end (B-end) corporate health business increased 30.2% year-on-year, and the Company's overall paying user base grew 35.1% year-on-year.

**"Healthcare-Insurance Synergy" Deepens Bidirectional Empowerment, Core Business Shows Strong Growth Momentum**

As the flagship of Ping An Group's healthcare and elderly care ecosystem and a consolidated subsidiary of Ping An Group, the Company has deepened the development of the "healthcare-insurance synergy" model and continuously strengthened collaboration with Ping An Group's comprehensive financial business. Meanwhile, in the enterprise health management sector, it has jointly innovated with group members to create a "commercial insurance + health guarantee entrustment + medical health services" product system, vigorously expanded enterprise clients, achieved steady revenue growth, and comprehensively improved profitability.

During the reporting period, the Company provided online and offline one-stop, 24/7, proactive medical and elderly care services for Ping An Group's individual comprehensive financial clients. It deeply developed the "insurance + medical and elderly care membership" model and enriched the medical health service benefit system across multiple scenarios, continuously improving service penetration among the Group's nearly 245 million individual financial clients, achieving approximately 20 million F-end paying users, up 34.6% year-on-year. It also continuously strengthened the depth and breadth of cooperation with Ping An Group's life insurance, property insurance, health insurance, banking, and other subsidiaries, with synergistic effects becoming prominent. Among these, the Company collaborated with Ping An Life to upgrade "critical illness insurance + critical illness case management" services, launching the "An You Hu" health service plan. The service covers the entire process of critical illness treatment, from suspected diagnosis, surgical arrangements, post-operative treatment to rehabilitation follow-up, providing clients with one-stop, high-quality critical illness case management services. As of the end of March 2025, individual comprehensive financial clients enjoying Ping An Group's healthcare and elderly care ecosystem services had average contract numbers and average AUM that were 1.6 times and 4.0 times higher than other clients, respectively.

In recent years, under the guidance of the Healthy China national strategy, the government has supported and advocated for employers to standardize employee health management. The medical security system from "basic medical insurance" to "medical supplements" to "health management" has continuously improved, and enterprises' awareness of proactive employee health management has significantly strengthened. As an important strategic deployment, the Company continues to provide professional, comprehensive, high-quality, one-stop employee health management services for enterprise clients through the "Ping An China Enterprise Health Security Plan." On one hand, the Company continuously strengthens refined operations to improve user stickiness, providing comprehensive proactive health management and treatment services online through family doctors, and improving service perception and employee satisfaction offline through rich on-site corporate activities. On the other hand, based on deepening cultivation of enterprise clients accessible to the Group, the Company actively expanded independent sales channels, driving rapid growth in the scale of enterprise health management business. During the reporting period, the Company served over 3,500 paying enterprise clients, with B-end paying users exceeding 3.6 million, up 39.2% year-on-year.

**System Upgrades in Product and Service Capabilities Strengthen Healthcare and Elderly Care Ecosystem Barriers**

During the period, the Company consistently adhered to a customer-centric approach, consolidated ecosystem barriers and product capabilities, upgraded service networks, and continuously improved service capabilities across all business scenarios.

Family doctors and elderly care managers, as the Company's two core hubs, provide users with proactive, one-stop, full-lifecycle medical health and elderly care services. During the reporting period, the Company launched a new annual medical health service profile featuring "proactive family doctor care, zero-distance access to renowned doctors, and comprehensive medical visit management." Through family doctors with dual certification from Peking University International Hospital and the World Organization of Family Doctors, it built a full-chain service system of "one-on-one contracting, case analysis, and proactive follow-up," achieving differentiated services for four major population groups. Meanwhile, it enhanced elderly care managers' service capabilities in medical and nursing needs, as well as product capabilities such as Ping An Global Emergency Rescue Services and caring manager on-site professional care, and collaborated with industry, academia, and research to deeply explore standardized home-based elderly care construction. During the period, family doctor benefit users exceeded 35 million, home-based elderly care benefit users grew 83% year-on-year, services covered 85 cities, and five group standards were cumulatively implemented.

Additionally, to provide extensive coverage, high-quality, cost-effective user services, the Company continuously built medical health and elderly care service networks. During the reporting period, the Company further expanded its "four-to" service network coverage of online, in-store, at-home, and on-site services, established teams of approximately 50,000 internal and external doctors across 37 specialties, cumulatively contracted over 3,200 specialist doctors, and partnered with over 4,000 hospitals, nearly 106,000 health service suppliers, 240,000 pharmacies, and over 100 elderly care institutions.

**Medical AI Scenario-based Implementation Accelerates, Driving Dual Improvement in Business Scale and Efficiency**

Leveraging the closed-loop advantages of "data + models + scenarios," the Company strengthened the construction of medical AI closed-loop service capabilities and application implementation. During the period, based on Ping An's globally leading six major medical databases and over 1.44 billion online consultation data points, it continuously iterated and upgraded the "Ping An Yi Bo Tong" medical large model and optimized five vertical domain models for key medical scenarios, launching a "7+N+1" medical AI product system. This includes renowned doctor digital avatars, AI family doctors, AI elderly care managers, AI medical offices, AI health managers, AI chronic disease managers, AI health benefit officers, and others, providing intelligent decision support for the entire business process and all scenarios. Among these, the Company innovatively launched a complex disease MDT (multidisciplinary team) auxiliary platform, which has been implemented in breast cancer cases and can provide users with treatment and rehabilitation full-process diagnosis and treatment assistance, significantly improving the efficiency and experience of complex disease medical visits. It will expand to more disease types in the future. Through AI empowerment, it achieved approximately 98% accuracy in AI-assisted consultation and diagnosis, nearly 80% accuracy in complex disease MDT treatment plans, AI-assisted doctor daily consultation capacity of up to 4 million person-times; AI helped reduce family doctor per-customer service costs by approximately 52% year-on-year and improved business middle platform operational efficiency by approximately 50%.

In the first half of the year, the "PA GOODDOCTOR" brand underwent a major renewal, which was both an important milestone in Ping An's "Three Provinces" project and a significant step in implementing the healthcare-insurance synergy model in healthcare services. Li Dou, Party Secretary, Chairman of the Board, and CEO of the Company, stated, "Times change, but our mission remains unchanged. The frontier evolves, but professional advancement remains constant. Markets change, but our commitment to users remains unwavering. Looking ahead, we will seize policy opportunities, adhere to medical essence, be guided by customer needs, strive to become the most professional 'family doctors and elderly care managers' for our broad customer base, do everything possible to help them 'save worry, time, and money,' and provide sustainable long-term value for shareholders and society."