Ping An Continues Partial Company "Relocation to the South": Ping An Good Doctor and Ping An Technology May Move to Shenzhen

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Recently, news about some China Ping An companies in Shanghai relocating to Shenzhen has attracted market attention.

According to Wallstreetcn's confirmation with several people close to Ping An, both Ping An Good Doctor and Ping An Technology have plans to "move south."

In fact, this is not the first time that companies within the Ping An system have moved from Shanghai to Shenzhen.

As early as September 2025, Yicai had reported that some employees of Ping An Life Insurance's headquarters in Shanghai were relocating to Shenzhen. At that time, Ping An Life Insurance responded that, due to regulatory requirements such as the Company Law, the company's registered location must be consistent with its office location, so some employees working in Shanghai needed to return to the Shenzhen headquarters for centralized office work. The company would ensure the legal rights and interests of employees.

An insider at China Ping An later told Yicai that the relocation mainly involved subsidiaries of the China Ping An Group whose registered headquarters are in Shenzhen. Among them, the head office of Ping An Life Insurance is registered in Shenzhen, and some employees originally working in Shanghai needed to return to Shenzhen.

Ping An Good Doctor and Ping An Technology, which are beginning their southward relocation this time, both hold important positions within Ping An Group's strategic system.

As an important Internet healthcare division under Ping An, Ping An Good Doctor, which has long been listed on the Hong Kong Stock Exchange, has shown outstanding performance. In 2025, its total revenue was 5.468 billion yuan, a year-on-year increase of 13.7%, while its adjusted net profit reached 414 million yuan, a year-on-year surge of 161.3%.

Behind these results lies a closer relationship between Ping An Good Doctor and Ping An Group and its affiliates. In 2025, Ping An Group and its affiliates contributed 2.28 billion yuan in revenue to Ping An Good Doctor, an increase of nearly 40% year-on-year, accounting for 41.7% of total revenue, up more than 7 percentage points from the previous year.

As a wholly owned subsidiary of Ping An Group, Ping An Technology is responsible for developing and operating the group's key platforms and services, and has not yet been independently listed.

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