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    000001   CNE000000040

PING AN BANK CO., LTD.

(000001)
  Report
End-of-day quote. End-of-day quote Shenzhen Stock Exchange - 01/14
16.33 CNY   -3.83%
01/14Ping An Bank's FY21 Profit Surges 26% to $5.7 Billion; Shares Slide 4%
MT
2021Chinese property bonds dive as contagion kicks in
RE
2021WRAPUP 7-Chinese property bonds dive as contagion kicks in
RE
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Ping An Bank Launches Cross-Boundary Wealth Management Connect Services in Greater Bay Area

10/25/2021 | 03:27am EST

Ping An Bank has launched services under the Cross-boundary Wealth Management Connect pilot scheme on 19 October. The Bank's service expansion opens a new chapter in the integration of Guangdong, Hong Kong and Macao, accelerating the financial markets' connectivity and development. The Cross-boundary WMC enables residents in Hong Kong, Macao and nine cities in Guangdong Province to make cross-boundary investments in wealth management products distributed by banks in the area. Ping An Bank, one of the first banks to participate in the pilot scheme, received approval from the People's Bank of China and the Hong Kong Monetary Authority on 18 October. The Cross-boundary WMC includes the Southbound Scheme and the Northbound Scheme. In the Northbound Scheme, Ping An Bank offers fixed-income top wealth management products tailor-made by its wealth management subsidiary Ping An Wealth Management. Ping An Bank also partners with first-tier fund companies in mainland China, such as E Fund and ZO Asset Management, to select mutual funds with low subscription fees and quality service exclusively for Hong Kong and Macao clients. Amid COVID-19 travel restrictions, the Bank enables Hong Kong and Macao clients who already have accounts with Ping An Bank in the Greater Bay Area to sign an e-agreement, link to the transfer account at OCBC Wing Hang Bank of Hong Kong, and activate the Northbound Scheme function in the Ping An Pocket Bank app. They can then purchase or redeem domestic wealth management products in mainland China online. There is no need to visit to a bank branch. However, new customers must open a bank account by visiting a Greater Bay Area branch in person. For the Southbound Scheme, Mainland investors can open a cross-border investment account through Ping An Bank without travelling to Hong Kong or Macao. They can then invest in eligible wealth management products distributed by OCBC Wing Hang Bank of Hong Kong via the Ping An Pocket Bank app.


ę S&P Capital IQ 2021
All news about PING AN BANK CO., LTD.
01/14Ping An Bank's FY21 Profit Surges 26% to $5.7 Billion; Shares Slide 4%
MT
2021Chinese property bonds dive as contagion kicks in
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2021WRAPUP 7-Chinese property bonds dive as contagion kicks in
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Analyst Recommendations on PING AN BANK CO., LTD.
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Financials
Sales 2021 171 B 26 895 M 26 895 M
Net income 2021 35 278 M 5 561 M 5 561 M
Net Debt 2021 - - -
P/E ratio 2021 9,11x
Yield 2021 1,48%
Capitalization 317 B 49 883 M 49 949 M
Capi. / Sales 2021 1,86x
Capi. / Sales 2022 1,68x
Nbr of Employees 36 115
Free-Float -
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Mean consensus BUY
Number of Analysts 27
Last Close Price 16,33 CNY
Average target price 25,59 CNY
Spread / Average Target 56,7%
EPS Revisions
Managers and Directors
Yue Fei Hu President, General Manager & Executive Director
You Zhi Xiang Chief Financial Officer, Executive Director & VP
Wei Qiu Chairman-Supervisory Board
Yong Lin Xie Chairman
Ru Sheng Yang Independent Director