Ping An Healthcare and Technology Company Limited (PA GoodDoctor) announced that wholly owned subsidiary Kang Jian signed a Services Purchasing Agreement with controlling shareholder Ping An Insurance (Group) Company of China on 24 March 2026. The contract runs from the signing date to 31 December 2026.

Under the agreement, Ping An will supply financial, administrative, risk consulting, human-resources and information-technology services to the PA GoodDoctor group. Service fees are set on a cost-plus basis with a 5% mark-up and will be settled in four instalments.

Management set the 2026 annual payment cap at RMB8.99 million, referencing historical purchases of RMB6.90 million in 2023, RMB6.62 million in 2024 and RMB4.42 million in 2025, as well as planned expansion of digital management and risk-control system upgrades.

Because Ping An holds approximately 53.71% of PA GoodDoctor’s issued share capital, the transaction is classified as a continuing connected transaction under Chapter 14A of the Hong Kong Listing Rules. With the highest applicable percentage ratio exceeding 0.1% but below 5%, the deal requires reporting, announcement and annual review but is exempt from independent shareholders’ approval.

Internal control measures include oversight by the audit and risk management committee, regular monitoring of transaction progress, and annual reviews by independent non-executive directors and external auditors to confirm adherence to contract terms and market pricing.

Three directors holding positions at Ping An abstained from the board vote approving the agreement; all other directors, including independent non-executives, consider the terms fair, reasonable and in the company’s interests.