Finance
Ping An Insurance (Group) Co. of China Ltd.
Company Background
Ping An Insurance Group is a Chinese financial conglomerate with banking, asset management and other units. It has nearly 90 million customers. Ping An was established in the southern city of Shenzhen, Guangdong Province, in 1988 as China's first joint-stock insurance company. It entered the banking business in 2006 when it purchased a bank in the city and renamed it Ping An Bank.
The company has 236,000 employees and 635,000 insurance agents. Many of the types of policies it promotes have not entered the mainstream in China. It ranks second in both the life and nonlife insurance markets in terms of premium revenues.
One of Ping An's key strengths is its ability to comprehensively offer a range of financial services, including insurance, banking, trust, securities, futures and asset management.
Ping An stands out among Chinese financial institutions for its aggressive acceptance of foreign capital. HSBC of the U.K. became its single largest shareholder in 2002. HSBC later sold its stake under a new management policy, making Thai conglomerate Charoen Pokphand Group the biggest investor. Other shareholders include Tamasek Holdings, an investment company owned by the government of Singapore.
Business Summary
Ping An Insurance (Group) Co. of China Ltd. engages in the provision of financial products and services. It operates through the following segments: Insurance, Banking, Trust, Securities, Other Asset Management, Technology, and Others. The Insurance segment offers life, property and casualty, pension, and health insurance services. The Banking segment undertakes loan and intermediary business, wealth management, and credit card services. The Trust segment provides trust services and undertakes investing activities. The Securities segment undertakes brokerage, trading, investment banking and asset management services. The Other Asset Management business segment provides investment management services and financial leasing business, reflecting performance of asset management and financial leasing and the other asset management subsidiaries. The Technology business segment provides financial and daily-life services through internet platforms such as financial transaction information service platform, health care service platform, reflecting performance summary of the technology business subsidiaries, associates and jointly controlled entities. The company was founded by Ming Zhe Ma on March 21, 1988 and is headquartered in Shenzhen, China.
Financial Highlights
| Dec 2022 | HKD | USD |
| Revenue | 1,303.30B | 166,440.39M |
| Gross Profit | -- | -- |
| Operating income | 179,539.09M | 22,928.20M |
| Income before tax | 111,229.29M | 14,204.64M |
| Net income | 97,418.95M | 12,440.98M |
| EBITDA | -- | -- |
| Diluted EPS | 5.50 | 0.70 |
| Dividends Per Share | 2.77 | 0.35 |
| Total Assets | 12,476.10B | 1,598.48B |
| Total liabilities | 11,156.55B | 1,429.42B |
| Total equity | 964,068.56M | 123,520.14M |
| Operating cash flow | 764,712.19M | 97,658.29M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
| Revenue | 1,274.03B | 1,248.57B | 1,352.31B | 1,421.07B | 1,303.30B |
| Gross Profit | -- | -- | -- | -- | -- |
| Operating income | 299,536.54M | 251,080.85M | 291,126.47M | 268,371.55M | 179,539.09M |
| Income before tax | 171,837.01M | 183,144.52M | 192,060.54M | 159,369.86M | 111,229.29M |
| Net income | 127,215.08M | 169,415.05M | 160,799.39M | 122,471.12M | 97,418.95M |
| EBITDA | -- | -- | -- | -- | -- |
| Diluted EPS | 7.12 | 9.50 | 8.83 | 6.89 | 5.50 |
| Dividends Per Share | 1.99 | 2.26 | 2.56 | 2.86 | 2.77 |
| Total Assets | 8,126.51B | 9,178.32B | 11,272.65B | 12,373.54B | 12,476.10B |
| Total liabilities | 7,346.91B | 8,224.87B | 10,101.35B | 11,055.20B | 11,156.55B |
| Total equity | 634,617.86M | 752,994.80M | 904,121.81M | 993,787.11M | 964,068.56M |
| Operating cash flow | 284,951.17M | 417,534.12M | 507,719.49M | 436,176.69M | 764,712.19M |
| Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | |
| Revenue | 162,555.55M | 159,355.01M | 174,357.15M | 182,826.10M | 166,440.39M |
| Gross Profit | -- | -- | -- | -- | -- |
| Operating income | 38,218.15M | 32,045.24M | 37,535.67M | 34,526.84M | 22,928.20M |
| Income before tax | 21,924.85M | 23,374.58M | 24,762.85M | 20,503.43M | 14,204.64M |
| Net income | 16,231.49M | 21,622.30M | 20,732.27M | 15,756.29M | 12,440.98M |
| EBITDA | -- | -- | -- | -- | -- |
| Diluted EPS | 0.90 | 1.21 | 1.13 | 0.88 | 0.70 |
| Dividends Per Share | 0.25 | 0.28 | 0.33 | 0.36 | 0.35 |
| Total Assets | 1,037.95B | 1,177.94B | 1,453.81B | 1,587.10B | 1,598.48B |
| Total liabilities | 938,381.55M | 1,055.58B | 1,302.75B | 1,418.00B | 1,429.42B |
| Total equity | 81,056.26M | 96,639.39M | 116,602.95M | 127,469.07M | 123,520.14M |
| Operating cash flow | 36,357.19M | 53,289.54M | 65,461.55M | 56,115.50M | 97,658.29M |
Valuation Measures
| Dec 2022 | |
| PER | 8.24 |
| ROA | 0.78% |
| ROE | 9.95% |
| Operating margin | 13.77% |
| Profit margin | 7.47% |
Key executives
- President, Co-CEO & Executive Director: Yong Lin Xie
- Co-CEO, Executive Director & Chief Actuary: Jason Yao
- Co-CEO, Executive Director & Executive VP: Sin Ying Tan
- COO & Director-Strategic Development Center: Xin Fu
- Chief Financial Officer & Finance Director: Zhi Chun Zhang
Shareholders
- CHEARAVANONT FAMILY (15.9%)
- The Vanguard Group, Inc. (2.6%)
- BlackRock Fund Advisors (2.3%)
- Baillie Gifford & Co. (2.0%)
- Capital Research & Management Co. (Global Investors) (1.5%)
- Capital Research & Management Co. (World Investors) (1.4%)
- Dimensional Fund Advisors LP (0.8%)
- State Street Global Advisors Asia Ltd. (0.8%)
- Capital International Ltd. (0.8%)
- Fidelity Management & Research Co. LLC (0.8%)
Contact Details
- Website:http://www.pingan.com
- Address: Ping An Finance Center, 47-48-108-109-110-111-112 Floor, Shenzhen, 518033, China
- Phone: +86.400.8866.338
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- Ping An Futures(HK) of China Co., Ltd
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- Ping An Wealthtone Investment Management Co., Ltd.
- Shenzhen Ping An New Capital Investment Co., Ltd.
- Pingan Capital Co. Ltd.
- Ping An Digital Economic Research Center
- Ping An Property Insurance Co. of China Ltd.
- Ping An Stock Preferred No 3 Stock Pension Product
- Shenzhen Qianhai Credit Information Center Co., Ltd.
- Ping An Technology Hong Kong
- Shenzhen City Shenglu Enterprise Management Co. Ltd.
- Ping An International Smart City Technology Co., Ltd.
- Ping an Property & Casualty Insurance Company of China Ltd. (D
- Ping An Insurance (Group) Company of China Ltd. (DSG)
Competitors
- China Life Insurance Co. Ltd. Class H
- X Financial Sponsored ADR Class A
- Datasea, Inc.
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