PA GOODDOCTOR (01833) has announced its financial results for 2025. The company reported total revenue of RMB 5.468 billion, representing a year-on-year increase of 13.7%. Gross profit reached approximately RMB 1.772 billion, up 16.3% compared to the previous year. Profit attributable to owners of the parent company was approximately RMB 380 million, a significant increase of 3.66 times. Adjusted net profit stood at RMB 414 million, marking a growth of 161.3%.
During the reporting period, the number of paying users grew to nearly 35 million, an 11.4% increase year-on-year. Specifically, revenue from commercial insurance synergy business amounted to RMB 3.2956 billion, up 11.0%. Revenue from corporate health management business reached RMB 1.306 billion, a strong increase of 40.6%. The company's revenue structure continued to optimize, with the corporate health management business contributing 23.9% of total revenue, an increase of 4.6 percentage points compared to the previous year. The commercial insurance synergy business deepened further, highlighting its ecosystem value.
The company maintains its belief that genuine health guardianship extends beyond providing compensation when illness occurs, focusing instead on daily companionship and proactive care. PA GOODDOCTOR continues to strengthen its collaboration with Ping An Group's integrated financial business, offering personal customers of Ping An Group online/offline, 24/7, proactive medical and elderly care services. This cooperation aids Ping An Group in customer acquisition, retention, and value enhancement. During the reporting period, the average premium for new life insurance policies among healthcare entitlement customers increased by 1.5 times. The policy conversion rate for Ping An Life customers using the company's healthcare services rose by over 15%, demonstrating the full emergence of ecosystem synergy effects.
The corporate health management business delivered an outstanding performance, expanding its service scale. This specialized business is dedicated to providing corporate clients with professional, comprehensive, high-quality, and one-stop enterprise health management solutions, acting as a health "guardian" for both companies and their employees. In collaboration with Ping An Group, the company has built a product system integrating "commercial insurance + health protection mandates + medical health services," established a compliant service catalog, and provides fully customized services for enterprises and employees. It also promotes online-to-offline operational conversion, enhancing the experience through precise services and dedicated teams. During the reporting period, this business achieved robust growth, with revenue increasing by 40.6% to RMB 1.306 billion.
The company upgraded its "Four-Reach" closed-loop system to improve its comprehensive service layout. The "Online Reach" service strengthens the traffic foundation by creating digital service entry points. As the traffic gateway, user reservoir, and core service output for the Ping An medical and elderly care ecosystem, the company has built an integrated, multi-touchpoint closed loop and iterated multi-level family doctor services. Its "AI + real doctor" service covers 100% of Ping An Group's individual customers, providing proactive, full-cycle health management for Ping An's financial clients and corporate employees. Nearly 12 million people used the AI doctor service annually during the reporting period, continuously solidifying the ecosystem's traffic base and digital service foundation.
The "Hospital Reach" service expanded the offline network, connecting the diagnosis and treatment service chain. The company continued to grow its offline service network, cooperating with over 5,100 hospitals, more than 240,000 pharmacies, and over 4,400 medical check-up providers, establishing a hierarchical, interconnected medical service system. For scenarios like offline medication purchases under corporate health management, the company launched a one-touch scan-and-pay service, seamlessly linking diagnosis, medication, and payment, with plans to cover more offline scenarios and service networks in the future.
The "Home Reach" service focuses on the needs of the elderly, strengthening home-based care safeguards. Addressing the core needs of seniors for home-based elderly care, particularly in medical care, safety, and daily assistance, the company introduced three new service plans: "Illness Management," "Safety Assistance," and "Elderly Care Support." These plans provide high-quality, all-scenario services to secure home-based care. By the end of the reporting period, home-based elderly care services had expanded to 100 cities across the country, embodying the principle of ensuring care and security for the aged.
The "Enterprise Reach" service deepens ecosystem synergy, empowering corporate health management. Leveraging its accumulated service network, operational efficiency, and data advantages, the company is gradually extending its capabilities to the broader external corporate market, exporting its health management expertise and creating diversified growth paths. During the reporting period, PA GOODDOCTOR deeply integrated Ping An Group's resources to create unified solutions, offering customized services like health lectures and assessments for enterprises, helping to build high-quality healthy workplaces, and establishing model corporate clinics. The number of paying corporate clients served exceeded 6,700, an 83.1% increase from 2024, underscoring the core competitiveness and strong growth momentum of the corporate health management business.
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