BRIEF: Ping An Health’s profit jumps

1833.HK

Healthcare platform Ping An Healthcare and Technology Co. Ltd. (1833.HK) said on Thursday its profit jumped 72% year-on-year to 184 million yuan ($26 million) in the first nine months of the year, while its revenue climbed 13.6% to 3.72 billion yuan. Its adjusted net profit reached 216 million yuan, up 45.7% year-on-year.

The company attributed the strong performance primarily to its insurance + healthcare synergistic model and its insurance + health and senior care membership model, as well as rapid progress for its corporate health management business.

Looking ahead, the company said it plans to further strengthen synergies with its parent, financial services giant Ping An Group, and advance the digitalization and integration of AI into its core services.

Shares of Ping An Health opened up 1.7% at HK$15.75 on Friday. The stock is up over 150% since the beginning of the year.

By Lau Chi Hang

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