Sep 10, 2026 earnings call — AI insurance technology and inclusive health product upgrades
Total revenue for the quarter was RMB 1.39 billion, a year-over-year increase of 30.1%.
Revenue $0.2B · EPS $1.31
Key quotes
"These capabilities have already been deployed in medical insurance claims assistance scenarios, achieving a material classification accuracy of 95% and average key field extraction accuracy of approximately 94%."
"In June this year, our Super Medical Insurance series underwent a comprehensive upgrade focused on addressing pain points across users' full treatment journey."
"Under our USD 15 million share repurchase program, as of August 31, 2026, we have repurchased approximately 114,000 ADSs for a total consideration of approximately USD 1.6 million, reflecting our continued commitment to returning capital to shareholders."
Analyst Q&A 7
celebrity live streaming and AI agents
Q (Amy Jy Chen · Citi): The analyst asked about licensed celebrities doing live streaming to sell insurance and whether the company will use this. She also asked if AI agents and the agent economy will change distribution and how the company plans to capture those trends.
A: Management said regulations require online financial marketing to use licensed institutions and people. They call celebrity live streaming a traffic entry point but focus on funneling users into Yuanbao's own service ecosystem. They see AI agents as an emerging entry point that is useful for simple inquiries but still immature for complex, full purchase journeys.
"Licensed celebrity live streaming is essentially a new form of customer education and traffic conversion within this compliance framework, leveraging public influencers." — Unknown Executive
ad demand, short-term insurance, Hong Kong business
Q (Yue Xu · China): The analyst asked how softer digital ad demand on major platforms affects customer acquisition ROI and whether demand for short-term insurance is shifting. She also asked for an update on the Hong Kong brokerage business after getting the license.
A: Management said ROI is holding at a fairly stable level so far despite softer ad demand and that growing ad spend and new user segments dilute ROI to some extent. They said demand for short-term insurance remains substantial but requires matching coverage products and ongoing product iterations. They had no other update on the overseas/Hong Kong business.
"Currently, our ROI is holding at a fairly stable level, and we have not seen any negative impact from softer advertising demand yet." — Unknown Executive
advertising margins and sales trends
Q (Thomas Wang · Goldman Sachs): The analyst asked about medium- to long-term margins for the new advertising business and the trend in policies sold and average ticket size for the quarter.
A: Management declined to disclose detailed figures for the new advertising business and product pricing. They said the advertising business is a healthy trend and that overall momentum remains healthy, but they provided no specific margin or price numbers.
"For the advertising new business, right now, we don't disclose any details." — Unknown Executive
new ad service and AI claim results
Q (Ling Tan · Haitong International): The analyst asked what the new advertising service revenue is and what measurable improvements AI delivered in customer acquisition cost, policy quality, claim costs, and R&D CapEx plans.
A: Management said advertising services are a new offering for insurance carriers based on their marketing platform and made up a small share of revenue this quarter. For AI in claims, they have deployed multimodal models in medical insurance claims assistance and reported a document classification accuracy of 95% and an average key field extraction accuracy of approximately 94%. They also said the AI team is over 10% of the workforce and that they will keep investing in core technology.
"These capabilities have now been deployed in medical insurance claims assistance scenarios, achieving a document classification accuracy of 95% and an average key field extraction accuracy of approximately 94%." — Unknown Executive
dividend and buyback; AI for retention
Q (Xintao Chen · CICC): The analyst asked for guidance on dividend and buyback policies for 2026 and 2027 and how AI is used to improve retention of existing customers.
A: Management said future dividend payout will be assessed by profitability and approved by the Board, and they plan to maintain or grow dividends subject to healthy cash flow and profitability. They announced a USD 15 million share repurchase program over 12 months and will evaluate expansion based on execution. On retention, they use their AI engine to optimize conversion and retention before and after exposure, use multimodal tech to improve claims processing, and build a proprietary knowledge base to support AI and improve repeat purchases.
"And on the buyback side, we have announced a USD 15 million share repurchase program over a 12-month period." — Unknown Executive
marketing compliance and dividend sustainability
Q (Shenwan Hongyuan): The analyst asked what the biggest challenge is for transitioning to the new online financial marketing rules in September and how the company will ensure smooth compliance. She also asked whether the company might set a regular dividend tied to net income or free cash flow.
A: Management said the new regulation has not materially affected their customer acquisition because they already prioritize compliance and have a marketing management system plus mandatory reviews. They emphasized that their model is tied to licensed insurance carriers and they keep proactive communication with regulators. On dividends, they reiterated plans to maintain or grow dividends subject to healthy cash flow and profitability.
"To date, the introduction of this regulation has not had a material impact on our customer acquisition model." — Unknown Executive
AI agent results and capital allocation
Q (Yuan Liao · CITICS): The analyst asked about penetration and attach rate of the multi-agent AI adviser and efficiency gains in B2B client support and quality monitoring. He also asked for more detail on future capital allocation given strong cash and the shareholder return program.
A: Management said combining their knowledge base with multimodal models and agents improved AI accuracy and moved services toward an AI-assisted human-machine model. They reported their AI-assisted claims assistant uses 3 agents and helped insurance carriers shorten settlement time for small claims under RMB 10,000 by 41%. For capital allocation, they said they will follow a disciplined strategy balancing investments, new opportunities, liquidity management and shareholder returns.
"It works alongside our intelligent claims assistance feature to empower our insurance carrier partners, helping insurance carriers shorten claim settlement time for small claims under RMB 10,000 by 41%." — Unknown Executive