(Shanghai, Hong Kong, April 27, 2017) Ping An Insurance (Group) Company of China Ltd. (hereafter “Ping An”, the “Company” or the “Group”, HKEx: 2318; SSE: 601318) today announced its results for the three months ended March 31, 2017.

In the first quarter of 2017, Ping An recorded RMB23,053 million in net profit attributable to shareholders of the parent company, up 11.4% year-on-year. As at March 31, 2017, equity attributable to shareholders of the parent company reached RMB411.477 billion, up 7.3% from the beginning of the year. The Company’s assets totaled about RMB5.77 trillion, up 3.5% from the beginning of the year. Benefited from excellent product structure and the growing in the number and productivity of sales agents, the value of new business of the life insurance business surged 60.0%.

With China’s economy continuing to improve, Ping An has reaffirmed its commitment to existing operating strategies, has kept improving its products and services experience, and has maintained steady growth in core finance businesses including insurance, banking and asset management while achieving rapid growth in the internet finance business. During the period, the impact of customer migration was significant. Ping An’s customers and users base continued to grow. As at March 31, 2017, Ping An had an overall individual customer base of 138 million, up 5.0% from the beginning of the year, of which 35.02 million customers held contracts of multiple subsidiaries at the same time. The number of new customers reached 11.78 million in the first quarter, of which the number of new customers of the internet channel was 2.01 million. As at March 31, 2017, the number of Ping An’s internet users was around 377 million, up 8.7% from the beginning of the year, including 265 million APP users and 64.64 million monthly active users. During the first quarter, user migration across the internet platforms reached 19.74 million times, up 70.2% year-on-year.

Core Finance Business: new business value of life insurance business rose 60.0%; several breakthroughs were achieved in the transformation into a retail bank; online brokerage daily average active users surged 96.9%

During the first quarter, the value of new business of Ping An Life grew briskly to RMB21,264 million, up 60.0% year-on-year. Written premium of the life insurance business reached RMB184,640 million, representing a year-on-year increase of 37.1%. Written premium of individual business was RMB178,191 million, representing a year-on-year increase of 38.1%. Ping An Life realized RMB13,299 million in net profit, up 4.2% year-on-year; written premium achieved RMB178,601 million, up 37.9% year-on-year. Both the number and the quality of its sales agents improved. The number of life insurance sales agents rose by 27.6%, compared to the same period last year, to over 1.196 million. First year written premium was up 31.8% year-on-year while the market share of its telemarketing channel ranked first in the industry.

During the same period in the property and casualty segment, Ping An Property & Casualty generated net profit of RMB3,390 million, with a combined ratio of 95.9% and the premium income was RMB53,661 million, up 23.2% year-on-year. Specifically, the premium income of auto insurance grew by 10.0% year-on-year to RMB41,035 million, while cross-selling, telemarketing and online channels generated premiums of RMB23,244 million, up 7.4% year-on-year.

Ping An Bank maintained a steady growth in profits, achieved several breakthroughs in the transformation into a retail bank, and grew steadily in deposit and loan business. During the first quarter, Ping An Bank recorded a net profit of RMB6,214 million, up 2.1% year-on-year. In retail banking business, Ping An Bank had 43.69 million retail customers, up 8.0% from the end of last year. Managed assets of personal customers stood at RMB906,386 million, up 13.6% from the end of last year. The total number of credit cards issued reached 27.1 million, up 5.8% from the end of last year. In deposit and loan business, Ping An Bank recorded personal loan (including credit card) and deposit of RMB585,158 million and RMB289,510 million respectively, up 8.2% and 7.6% from the end of last year.

Ping An’s Securities Brokers’ internet users were increasingly active: the number of daily average active users was around 1.3022 million in the first quarter of 2017, surged by 96.9% year-on-year, boosting the market share of the trading volume of retail personal customers by 0.36ppt to 2.13% .

Internet Finance Business: Retail trading volume of “three exchanges” increased sharply; users of Good Doctor services reached 140 million; sales of the newly launched financial products of the One Account platform amounted to RMB17.2 billion

Lufax Holding further enhanced its leading position in the internet finance industry. As at March 31, 2017, the number of registered users of Lufax totaled 30.13 million, up 6.2% from the beginning of the year. The number of active investor users were 7.65 million, up 3.4% from the beginning of the year. During the first quarter in 2017, the “three exchanges” (Lufax, CQFAE and QEX) maintained rapid growth in the trading volume. The scale of retail and institutional-based transactions were RMB559,409 million and RMB1,383,932 million respectively, growing 83.1% and 39.0% year-on-year respectively. The Balance of loans under management of Puhui Business amounted RMB189,183 million, up 29.0% from the beginning of the year.

Ping An Good Doctor aims to build a one-stop, full-process O2O healthcare platform. As at March 31, 2017, Ping An Doctor had provided services for 140 million users in total, with the peak number of monthly active users reaching 18.79 million and daily peak inquiries reaching 430,000.

Finance One Account stepped up efforts to develop an open platform in the ecosystem that serves financial institutions. As at March 31, 2017, the number of its individual users exceeded 190 million, and new sales volume of financial products reached RMB17.2 billion. In terms of services for financial institutions, Finance One Account cooperated with 301 banks and 1,253 non-bank financial and quasi-financial institutions. The new interbank trading volume reached RMB721 billion, and the number of credit inquiries exceeded 136 million.

Prospects

Dr. Peter Ma, Chairman and Chief Executive Officer of Ping An, comments, “Looking ahead to the full year, the business environment will be more complex and challenging for China’s economy. As new technologies with internet at the core develop, almost all traditional industries will face significant challenges and opportunities, including the financial industry. We will pay close attention to the changes in the external environment, and work towards our goal of becoming ‘a world-leading personal financial services provider’ focused on the integrated financial service model of ‘one customer, multiple products and one-stop services’. We will stay true to our mission, endeavor to earn a reputation for our services, and realize stable growth in performance to give back to investors and society.”