Ping An Healthcare and Technology Company Limited reported its first full-year profit in 2024, attributing the growth to its expansion in health and senior care services.
The company recorded revenue of RMB 4.81 billion, with an adjusted net profit of RMB 158 million.
Revenue from its financial services integration (F-end) and corporate client business (B-end) increased by 17.2% year-on-year, while revenue from home-based senior care services rose by 413.5%. The number of paying corporate users reached approximately 5.81 million, reflecting a 13% annual growth.
Ping An Health advanced its collaboration with Ping An Group’s financial ecosystem, implementing business models that integrate insurance with health and senior care solutions. These models include membership-based services, healthcare claims collaboration, and medical benefit programs. The company stated that these efforts contributed to customer retention, engagement, and repeat purchases.
Revenue from the financial services-linked health business exceeded RMB 2.4 billion, reflecting a 9.6% year-on-year rise. The company noted that as of September 2024, Ping An Group’s retail customers using its healthcare services held 1.6 times more contracts and had nearly four times higher assets under management compared to those not using these services.
In the corporate segment, Ping An Health expanded its enterprise health management services by upgrading its corporate health protection plans. These services include:
Revenue from corporate health services reached RMB 1.4 billion, marking a 32.7% increase. The number of corporate clients reached 2,049, reflecting a 35.9% rise from the previous year.
In response to policy developments encouraging healthcare service innovations and improvements in elderly care, Ping An Health further expanded its family doctor and senior care concierge services.
The company introduced an upgraded version of its family doctor membership program, designed as a one-stop health management system. Ping An Health’s family doctor team received certifications from institutions such as Peking University International Hospital and the World Organization of Family Doctors.
The company reported that more than 2 million users accessed its family doctor services in collaboration with claims management, while over 14 million customers had access to its family doctor benefit programs.
Ping An Health also scaled its home-based senior care services, enhancing its “insurance + home-based senior care” model. It developed a service system integrating smart home modifications, emergency response services, and medical assistance for aging populations. As of 2024, its home-based senior care services were available in 75 cities, with revenue from this segment increasing by 413.5%.
The company leveraged artificial intelligence to enhance its healthcare services. AI-assisted health checkup analysis reached a 98% accuracy rate, while AI-driven diagnoses achieved an accuracy of over 95%. Chronic disease management programs using AI showed an improvement rate of 90%, according to the company.
Ping An Health also expanded its healthcare service network, which now includes online consultations, in-store medical services, home-based care, and corporate-delivered health solutions. By the end of 2024, the company’s medical network included approximately 50,000 doctors across 29 specialties, partnerships with nearly 4,000 hospitals, and collaborations with more than 105,000 health service providers.
Looking ahead, Ping An Health plans to continue expanding its digital healthcare services and strengthening its role within Ping An Group’s broader “integrated finance + health and senior care” strategy.
The company aims to further leverage AI technologies to improve service delivery and efficiency while aligning with China’s national digital health and senior care initiatives.
