Interim net profit fell 8.8 per cent to 68.05 billion yuan (US$9.50 billion) from a year earlier, missing a 4.4 per cent increase that was expected by Bloomberg’s consensus estimate.

The value of new business in Ping An’s life and health insurance divisions, a key measure of future growth, rose 39.8 per cent during the period to 25.96 billion yuan, fuelled by strong sales by agents and the bancassurance business.

“China’s economy was generally stable and improved steadily despite pressure from a complex and severe external environment in the first half of 2025, but it still faces short- and medium-term challenges including lacklustre domestic demand,” Ping An chairman Peter Ma Mingzhe said in an earnings statement on Tuesday to the Hong Kong stock exchange after trading hours.

The Shenzhen-based insurer said it would pay an interim dividend of 0.95 yuan per share, up 2.2 per cent from a year earlier.