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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Ping An Insurance (Group) Company of China, Ltd.    2318   CNE1000003X6

PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD.

(2318)
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Ping An Insurance of China : 2020 Third Quarter Results Announcement

10/27/2020 | 04:05am EST

2020 Nine Months Results

October 2020

Cautionary Statements Regarding Forward-Looking Statements

To the extent any statements made in this Report contain information that is not historical, these statements are essentially forward- looking. These forward-looking statements include but are not limited to projections, targets, estimated and business plans that, the Company expects or anticipates, will or may occur in the future. Words such as "potential", "estimates", "expects", "anticipates", "objective", "intends", "plans", "believes", "will", "may", "should", variations of these words and similar expressions are intended to identify forward-looking statements.

These forward-looking statements are subject to known and unknown risks and uncertainties that may be general or specific. Readers should be cautioned that a variety of factors, many of which are beyond the Company's control, affect the performance, operations

and results of the Company, and could cause actual results to differ materially from the expectations expressed in any of the

Company's forward-looking statements. These factors include, but are not limited to, exchange rate fluctuations, market shares, competition, environmental risks, changes in legal, financial and regulatory frameworks, international economic and financial market conditions and other risks and factors beyond our control. These and other factors should be considered carefully and readers should

not place undue reliance on the Company's forward-looking statements. In addition, the Company undertakes no obligation to publicly

update or revise any forward-looking statement that is contained in this Report as a result of new information, future events or otherwise. None of the Company, or any of its employees or affiliates is responsible for, or is making, any representations concerning the future performance of the Company.

2

Contents

Overview

Retail Integrated Finance and

Insurance Business

Corporate Integrated Finance and

Banking Business

Technology Business

3

Overview

Retail Integrated Finance

Corporate Integrated Finance

Technology Business

and Insurance Business

and Banking Business

Overview

4

Challenging operating environment for 9M 2020

External challenges

  • Business models need to be transformed due to the impact of COVID-19:Traditional offline operations have begun to recover.
    However it has remained difficult to hold large- scale offline campaigns in China and offline face-to-face meetings have not resumed to pre-epidemic levels.
  • Credit risks persist but are improving: The first half of 2020 saw elevated credit default risks and higher bad debt losses across our businesses. The situation has begun to moderate in the third quarter.
  • Investment risks increased: Fair value gains and losses became more volatile due to the declining Hong Kong stocks and volatile interest rates as well as the Company's implementation of IFRS 9. Uncertain overseas COVID-19situation may temper domestic recovery.

Internal operations

  • Promoting online-merge-offline operations: Ping An continued to upgrade our online operating model, and took innovative measures in team management, customer development, and product promotion to accumulate momentum for business growth.
  • Advancing Ping An Life's deep business reform: Ping An Life empowered business teams through culture building, model upgrading, operations improvement, product strategies and channel development.
  • Strengthened risk management: Ping An continued to strengthen credit risk management and enhanced the efficiency of risk management with fintech.
  • Optimized asset allocation: Ping An increased the allocation to long-duration, low-riskbonds and continued to narrow the asset-liabilityduration gap. Moreover, Ping An boosted investment returns by managing equity investment flexibly to seize opportunities from epidemic-inducedmarket volatility and structural trends.

Opportunities and challenges coexist

  • In the short term: Consumer demands for insurance and other financial services have not yet returned to pre-epidemic levels.
  • In the medium and long term: Economic growth will be driven by released potential domestic demands:
    • Financial services: People's health awareness will be stronger after the epidemic, and their demands for insurance and other financial services will grow.
    • Healthtech: Driven by policies and technologies, the health care industry will develop rapidly, bringing growth opportunities in the upstream and downstream of the industry.

5

Business highlights for 9M 2020

Group

Customer development

Life & Health insurance

Banking

Technology

  • Operating profit attributable to shareholders of the parent company rose by 4.5% year on year to RMB108,692 million, culminating in a 20.9% annualized operating ROE.
  • Retail customer increased by 7.0% year to date to over 214 million as of September 30, 2020. Overall contracts per retail customer grew by 2.7% year to date to 2.71. We acquired 28.53 million new retail customers this year.
  • Life & Health insurance operating profit rose by 9.2% YoY to RMB75,446 million. Amid post-epidemic challenges, the Company continued to upgrade its business models and advance Ping An Life's deep business reform.
  • Operating income before impairment loss rose by 16.2% year on year to RMB83,313 million. As of September 30, 2020, the provision coverage ratio rose by 35 pps to 218% from the beginning of 2020.
  • As of September 30, 2020, Ping An's technology patent applications increased by 6,654 year to date to 28,037, more than most other international financial institutions'.

6

Overview

Retail Integrated Finance

Corporate Integrated Finance

Technology Business

and Insurance Business

and Banking Business

Financial Review

7

Financial performance for 9M 2020

(in RMB)

Operating profit(1)

Net profit(1)

108,692 million

103,041 million

+4.5%

-20.5%

NBV

Operating ROE

(annualized)

42,844 million

20.9%

-27.1%

-2.0pps

Notes: (1) Both the operating profit and the net profit are attributable to shareholders of the parent company.

(2) The computation of NBV is based on the 11.0% risk discount rate.

8

Operating profit excludes non-operating items to reflect

underlying performance

Operating Profit = Net Profit - Short-term Investment Variance - Discount Rate Change Impact - One-off Material Non-operating Items

(in RMB million)

114,892

5,687

0

120,560

108,692

(19)

(11,868)

Net profit

Short-term

Impact of discount

Impact of one-off

Operating

Operating profit

Operating profit

for 9M 2020

investment

rate change of

material non-operating

profit

attributable to non-

attributable to

variance of L&H(1)

L&H

items(2)

for 9M 2020

controlling interests

shareholders of the

parent company for

9M 2020

Notes: (1) Short-term investment variance is the variance between the actual investment return and the EV long-run investment return assumption (5%), net of the associated impact on insurance and investment contract liability.

(2) There was no one-off material non-operating item in 9M 2020.

9

Group operating profit rose 4.5% YoY

(in RMB million)

9M 2020

Proportion (%)

YoY Change (%)

Operating profit growth drivers

9M 2019 OPAT

Life and health insurance

74,764

68.8

9.3

104,061

Property and casualty insurance

11,003

10.1

(22.4)

Life and health

6,370

Banking

12,981

11.9

(5.2)

Property and casualty

(3,181)

Trust

2,239

2.1

(7.6)

Banking

(719)

Securities

2,381

2.2

40.1

Asset management

64

Other asset management(1)

3,808

3.5

(10.2)

Technology(2)

4,669

4.3

13.6

Technology

559

Others & elimination

(3,153)

(2.9)

(32.8)

Others & elimination

1,539

The Group

108,692

100.0

4.5

9M 2020 OPAT

108,692

Notes: (1) The other asset management business represents results of companies that engage in asset management business including Ping An Asset Management, Ping An Financial Leasing, and Ping An Overseas Holdings.

  1. The technology business represents results of subsidiaries, associates and jointly controlled entities that engage in technology business including Lufax Holding, OneConnect, Ping An Good Doctor, Ping An HealthKonnect, and Autohome.
  2. Operating profit refers to the operating profit attributable to shareholders of the parent company.
  3. Figures may not match the calculation due to rounding.

10

Strong capital adequacy position

Comprehensive solvency margin ratio remained strong

234%

219%

232%

232%

218%

224%

259%

229%

Dec 31, 2017

Dec 31, 2018

Dec 31, 2019

Sep 30, 2020

Ping An Life

(Regulatory requirement:

Core solvency margin ratio≥50%,

Comprehensive solvency margin ratio≥100%)

Ping An P&C

(Regulatory requirement:

Core solvency margin ratio≥50%,

Comprehensive solvency margin ratio≥100%)

Core tier 1 capital adequacy ratio comfortably above regulatory minimum

8.28%

8.54%

9.11%

8.94%

Ping An Bank

(Regulatory requirement ≥7.5%)

Dec 31, 2017

Dec 31, 2018

Dec 31, 2019

Sep 30, 2020

Note: Ping An Bank and its wholly-owned subsidiary Ping An Wealth Management Co., Ltd. are included in the computation of the above core tier 1 capital adequacy ratio in accordance with the Administrative Measures for the Capital of Commercial Banks (Trial) issued by the former China Banking Regulatory Commission on June 7, 2012.

11

Overview

Retail Integrated Finance

Corporate Integrated Finance

Technology Business

and Insurance Business

and Banking Business

Retail Integrated Finance and Insurance Business

12

Overview

Retail Integrated Finance

Corporate Integrated Finance

Technology Business

and Insurance Business

and Banking Business

Retail Integrated Finance

13

Growing retail customer base and cross-selling penetration

Huge potential for user conversion among the Group's 579 mn internet users

516

579

430

444

346

242

180

200

214

131

157

109

Dec 31, 2015 Dec 31, 2016 Dec 31, 2017

Dec 31, 2018 Dec 31, 2019

Sep 30, 2020

The proportion of retail customers holding multiple contracts with different subsidiaries kept growing amid continuous expansion of customer base

34.3%

36.8%

37.4%

29.6%

74

80

24.0%

62

19.0%

46

21

32

Dec 31, 2015 Dec 31, 2016 Dec 31, 2017

Dec 31, 2018 Dec 31, 2019

Sep 30, 2020

(million persons)

Retail customers

Internet users

(million persons)

Proportion of retail customers holding multiple contracts with different subsidiaries

Number of retail customers holding multiple contracts with different subsidiaries

Notes: (1) At the end of 2019, we revised the definitions of retail customers and internet users, removing customers with complimentary insurance from retail customers and independent users of suspended internet platforms from internet users, and restating the data for the comparable periods of 2017, 2018, and 2019.

(2) Figures may not match the calculation due to rounding.

14

Overview

Retail Integrated Finance

Corporate Integrated Finance

Technology Business

and Insurance Business

and Banking Business

Insurance Business

15

Ping An Life's reform: face new challenges head-on by

leveraging the Group's resources

4 core advantages

Background

1 Demographic dividends are disappearing

Mainstream

2 customers have changed

China's working-age population is shrinking

Serving higher-income customers

Those born in the 1980s and 1990s have become main consumers

  1. professional management team

Highly competent teams

25+ years of managerial experience

• Global vision, professional expertise, and

diverse skills

• A highly competent sales force

Industry-leadingproductivity

3

4

Customer demands are evolving

Competition landscape is changing abruptly

Customer demands have become more varied and complicated

Internet players have crossed over into the life insurance industry

A strong integrated financial product portfolio

Support for sales agents' income growth and

career development

Sales agents' cross-selling income increased

by 48% YoY in 1H 2020

Our life insurance business must undergo a reform!

-Chairman Ma Mingzhe

Leading technological strengths

• Ping An Life ranked seventh in the global

fintech patent ranking list with 152 fintech

patent applications

16

Ping An Life's reform: the reform projects have been piloted

and will be scaled up

Vision

Positioning

World-leading life insurer

Market leader

Industry benchmark

Customers' first choice

Channels

• Ping An Life upgraded the remuneration,

care and management under the basic

management procedure for sales agents;

Strategies

• Ping An Life carried out online and offline

activities, and supported sales agents to

switch the focus from "scale" to "scale +

quality."

Culture

Products

Building differential competitive edges

  • Ping An Life established a "product + service" system;
  • Launched "critical illness + health" management services.

Operation empowerment

  • Ping An Life upgraded AskBob, an AI- aided tool, to empower sales agents;
  • Ping An Life built a digital business outlet management platform and improved the appraisal criteria and management mechanisms to empower business outlets.

Model

17

Life & Health business NBV still affected by COVID-19

(in RMB million)

FYP used to

NBV margin

NBV

calculate NBV

-1.7%

122,273120,152

9M 2019

9M 2020

In Q3 2020, Ping An's agent

NBV declined

in Q3 2020,

channel was still under

partly due to a

pressure due to COVID-19,

higher base as

and the proportion of

premium income from high-

Ping An

promoted the

-12.4 pps

value business in the agent

-27.1%

sales of high-

channel declined. The higher-

value long-term protection

value protection

products in Q3

business in the agent channel

48.1%

2019.

was impacted. As a result,

the agent channel's NBV

58,805

margin fell YoY.

35.7%

42,844

9M 2019

9M 2020

9M 2019

9M 2020

Note: Figures may not match the calculation due to rounding.

18

The property and casualty insurance premium income grew

steadily

(in RMB million)

Premium income

Combined ratio

Operating profit

11.5%

219,490

196,875

Non-auto

72,418

58,192

24.4%

insurance

Auto

insurance 138,683 6.0% 147,072

9M 2019

9M 2020

2.9 pps

96.2%

99.1%

9M 2019

9M 2020

-22.4%

14,254

11,055

9M 2019

9M 2020

19

Investment portfolio of insurance funds grew by 10.3% from the beginning of 2020

Investment assets

(in RMB trillion)

10.3%

3.54

3.21

Dec 31, 2019

Sep 30, 2020

Annualized total investment yield

6.0%

-0.8 pps

5.2%

9M 2019

9M 2020

Note: In the computation of the annualized total investment yield, only interest revenue from deposits and debt financial assets as well as operating lease income from investment properties were annualized, while interest revenue from financial assets purchased under reverse repurchase agreements, interest expenses on assets sold under agreements to repurchase and placements from banks and other financial institutions, dividend income, capital gains from investments, and fair value gains and losses were not annualized.

20

Overview

Retail Integrated Finance

Corporate Integrated Finance

Technology Business

and Insurance Business

and Banking Business

Corporate Integrated Finance and Banking Business

21

Overview

Retail Integrated Finance

Corporate Integrated Finance

Technology Business

and Insurance Business

and Banking Business

Corporate Integrated Finance

22

Extending the "1+N" philosophy to corporate business under an innovative corporate integrated financial business model

"1+N" corporate business model

Customer development

We provide comprehensive tailor-

made solutions combining

"commercial banking + investment

Strategic

banking + investment" and

Local major

customers

"financing + intelligence"

clients

We embed the highly competitive

"sophisticated investment/financing + new supply chain" model in treasury platforms and insurance business by leveraging local marketing advantages

Small and medium-sized enterprises

We build uniform platforms and accounts to provide customers with financial and non-financialproducts and services in batches

Three models

• We built a uniform customer

development platform to

acquire and activate customers

in ecosystems and scenarios

through the projects of "Four

Connects and One Platform"

Simple,

• We built a strong middle office

standard

to centralize functions including

model

underwriting and approval for

efficient, intensive and targeted

marketing

Sophisticated

investment

and financing

model

  • In key areas including infrastructure, real estate, mixed ownership reform, deleveraging and M&As, we set up task forces to provide tailor- made comprehensive solutions
  • We follow fund flows to open accounts, acquire customers, retain deposits, and contain risks.
  • We seek business opportunities in insurance and technology through cross-selling channels under a
    "1+N" service model

Transaction collaboration model

  • We built a three-tiereddecision-making chain characterized by "pre- investment guidance, clear job division during investment, and post- investment evaluation"
  • We developed stop-profit and stop-loss mechanisms to lock up returns and contain risks

Technological empowerment

Online management platform and smart marketing platform

Databases of customers, products, channels, account

managers, and experts

System

Data

23

Rising corporate integrated financial business volume

(in RMB million)

Corporate premiums achieved through

New financing scale achieved through

cross-selling rose 38%

corporate business cross-selling rose 150%

38%

12,795

3,628

Written

9,275

113%

premium of

1,700

the corporate

channel

9M 2019

9M 2020

150%

411,319

164,638

9M 2019

9M 2020

Notes: (1) Corporate premiums achieved through cross-selling refer to written premiums of insurance policies sold by the Group to corporate customers through cross-selling.

  1. Written premium of the corporate channel refers to the written premium of the integrated financial business less that of the life insurance channel.
  2. New financing scale achieved through corporate business cross-selling refers to the scale of new financing projects achieved by the Group's member companies through cross-selling.

24

Overview

Retail Integrated Finance

Corporate Integrated Finance

Technology Business

and Insurance Business

and Banking Business

Banking Business

25

Ping An Bank maintained stable operations

(in RMB million)

Revenue rose 13% YoY

13.2%

18.8%

Operating income before impairment loss rose 16% YoY

16.2%

19.0%

102,958

116,564

86,664

60,236

71,709

83,313

9M 2018

9M 2019

9M 2020

9M 2018

9M 2019

9M 2020

Cost-to-income ratio

improved 1.90 pps

29.52% 29.43% 27.53%

Annualized net interest

margin fell 0.11 pps QoQ

2.62%

2.62%

2.60%

2.59%

2.48%

9M 2018

9M 2019

9M 2020

Q3 2019

Q4 2019

Q1 2020

Q2 2020

Q3 2020

26

Asset quality risks under control

Decreasing NPL ratio

1.70%

1.75%

1.65%

1.32%

Dec 31,

Dec 31,

Dec 31,

Sep 30,

2017

2018

2019

2020

Provision coverage ratio

now over 200%

218%

183%

151% 155%

Dec 31,

Dec 31,

Dec 31,

Sep 30,

2017

2018

2019

2020

Decreasing percentage of SMLs

3.70%

2.73%

2.01%

1.59%

Dec 31,

Dec 31,

Dec 31,

Sep 30,

2017

2018

2019

2020

Decreasing percentage

of loans 60+ days overdue

Increasing provision coverage ratio for loans 60+ days overdue

Deviation of loans

60+ days overdue below 1

1.92%

1.58%

1.27%

141%

190%

226%

1.10

0.96 0.96

Dec 31,

Dec 31,

Sep 30,

Dec 31,

Dec 31,

Sep 30,

2018

2019

2020

2018

2019

2020

Dec 31,

Dec 31,

Sep 30,

2018

2019

2020

27

Retail banking business continued to grow steadily

(in RMB million)

Retail AUM

Retail customers

26%

40% 1,982,721

1,416,796

2,488,171

(million persons)

15.7%

6.8%

97.08

103.64

83.90

Dec 31, 2018

Dec 31, 2019

Sep 30, 2020

Dec 31, 2018

Dec 31, 2019

Sep 30, 2020

Balance of retail deposits

continued to grow

12%

26%

583,673

655,020

461,591

Dec 31, 2018

Dec 31, 2019

Sep 30, 2020

Retail NPL improved QoQ

0.37 pps

1.56%-0.24 pps

1.19%

1.32%

Dec 31, 2019

Jun 30, 2020

Sep 30, 2020

28

Corporate banking remained steady while interbank business grew strongly

  • Ping An Bank continued to enhance corporate banking

(in RMB million)

Balance of corporate deposits rose 2.2% YTD

11.2%

2.2%

1,853,262

1,894,825

1,666,966

Dec 31, 2018

Dec 31, 2019

Sep 30, 2020

Corporate loans grew YTD with continued focus on risk controls

12.4%

1,085,743

14.5%

965,984

843,516

Dec 31, 2018

Dec 31, 2019

Sep 30, 2020

  • Ping An Bank's interbank business grew strongly

Net revenue from

Interbank institutional

trading

sales volume

Scale of NAV type

products in compliance

with the new asset

management regulations

RMB4,317 million

RMB554,619 million

RMB377,949 million

+39% YoY

+54% YoY

+47% YTD

29

Overview

Retail Integrated Finance

Corporate Integrated Finance

Technology Business

and Insurance Business

and Banking Business

Technology Business

30

Technological innovations: upgrading core financial services with cutting-edge technologies

Tech patent applications

  • 28,037 technology patent applications so far
  • Including 6,908 filed under the Patent Cooperation Treaty (PCT) or abroad

Awards & certifications

  • OneConnect was selected for the 2020 IDC China Fintech
    Top 50
  • OneConnect won the Platinum Award for Digital Banking at the IFTA FinTech Achievement Awards 2019

Contests

  • Ping An won multiple international honors in AI, healthtech and other fields
  • Ping An's healthtech team won the championship in the biomedical translation task of 2020 Conference on Machine Translation (WMT2020)
  • Ping An Life's AI Customer Visit Assistant: provide an online 50-people reception

Sales room and a customer-visit training camp; used over 11.50 million times in the first nine months of 2020.

• Ping An Life's AI-powered,video-based customer survey robot: completed customer surveys for nearly 2.70 million new insurance policies in the first nine months of 2020.

• Ping An leverages technologies to optimize financial business processes, boost

Operations

operational efficiency, and improve customer experiences.

• In property and casualty insurance operations, Ping An combines such AI

technologies as image-based loss assessment with precise customer profiling to

provide targeted claims services. Ping An settled 88% of auto insurance claims via

"One-click Claim Services," demonstrating its leading position in online claims

settlement.

Services • Widely used in banking, insurance, and other areas, our speech robots provided services over 1,380 million times in the first nine months of 2020.

  • The net promoter score (NPS) of the speech robots for September 2020 was 16.5 pps higher than that for December 2019.

31

Technological innovations: adopted advanced medical technologies to build and empower its health care ecosystem

Horizontal integration

  • Patients: grasp patient flows
  • Payers: manage medical institutions effectively
  • Providers: empower providers to maximize value

Vertical integration

  • Serving the government: leverage core resources of hospitals, doctors and pharmacies
  • Technological empowerment: empower ecosystem members and build barriers to competition

Synergies with

main businesses

  • Customer acquisition: seek synergies with Ping An's main financial businesses in terms of customer acquisition and stickiness
  • Higher value per customer: boost customer value by combining financial services with health care

Ping An will seize the great development opportunities in the health care market and create new drivers of value growth by building a closed-loop health care ecosystem involving the government, users, service providers, payers, and technology.

32

Healthtech business

Ping An Good Doctor (01833.HK)

Has built an AI-aidedin-house medical team,

and provides users with online-merge-offline services by

integrating offline health care networks

  • Ping An Good Doctor has built an excellent in-house medical team of nearly 2,000 members. Supported by a proprietary AI- based medical system, this team has constantly improved user services.
  • In mid-2020, Ping An Good Doctor launched an across-the-board strategic upgrade, focusing on channels, services, and capacities.
  • In September 2020, Ping An Good Doctor launched a sub-brand"Ping An Doctor Home" to facilitate communication between doctors and patients. Ping An Good Doctor upgraded its services, including the Private Doctor and the Doctor Virtual Office, to serve both users and doctors.

Ping An HealthKonnect

Committed to becoming a smart technology company

fully empowering the health care ecosystem

  • Centering around a smart SHI system, Ping An HealthKonnect empowers Healthcare Security Administrations by developing the Smart SHI Integrated Platform. Starting from SHI, Ping An HealthKonnect also provides integrated medical management solutions covering hospitals, doctors, pharmacies, and insured members.
  • In the first nine months of 2020, Ping An HealthKonnect won bids to construct SHI platforms for provinces including Qinghai, Hainan, Guizhou, Guangdong, Xinjiang, and Shaanxi. As of Sep- tember 30, 2020, Ping An HealthKonnect had won bids to construct SHI platforms for nine provinces.

33

Fintech business

Lufax Holding

China's leading online wealth management and retail

lending technology platform

  • Loans facilitated by Lufax Holding to small and micro-business owners and retail customers grew steadily. The balance of retail credit facilitated by Lufax Holding increased by 15.9% from the beginning of 2020 to RMB535,788 million.
  • In online wealth management, customer assets increased by 9.1% from the beginning of 2020 to RMB378,278 million due to its business transformation in response to the latest regulatory requirements.
  • The ratio of loans more than 30 days overdue in the loan portfolio facilitated by Lufax Holding has fallen drastically from the peak seen in the second quarter, and has returned to pre-epidemic levels.

OneConnect (OCFT US)

China's leading technology-as-a-service

platform for financial institutions

  • OneConnect's end-to-end technology applications and business services help financial institutions boost revenues, manage risks, increase efficiency, improve services, and reduce costs, thereby enabling digital transformations.
  • Ping An OneConnect Bank (Hong Kong) Limited,
    OneConnect's virtual bank, officially opened for business in Hong Kong on September 29, 2020. The virtual bank aims to push beyond the boundaries of traditional banks with fintech, and provide flexible, convenient financial services for small- and medium-sized enterprises and retail customers in Hong Kong.

34

Smart city business covers 143 domestic cities and multiple countries and regions involved in the Belt and Road Initiative

Government services

  • Ping An signed a contract worth RMB180 million on the construction of Shenzhen's integrated smart market supervision platform. This is so far the largest order for a smart market supervision platform in China.
  • Ping An won the bid for a vocational skills training supervision service platform of Shenzhen Human Resources and Social Security Bureau. The platform supervised the data-driven training for over 14,000 trainees in the first week.

Business development

  • Ping An helps the government strengthen ecological environment management and assists businesses in green environmental protection by building an integrated smart environmental protection platform.

Tech-empowered

Citizen services

city development

  • Ping An launched the "Nationwide COVID-19 Real Time Dashboard" with authoritative organizations of the state. The dashboard went live on over 300 official platforms in 21 provinces and 31 cities across China, keeping the public updated on COVID-19 developments in real time.
  • Ping An also provided AI-based image reading services for over 1,500 medical institutions across China to identify COVID-19. It took only 15 seconds on average to issue a single smart analysis, and over 40 million images were analyzed.

35

Thank you!

Disclaimer

Ping An Insurance (Group) Co. of China Ltd. published this content on 27 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2020 09:04:10 UTC


© Publicnow 2020
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Financials
Sales 2020 778 B 118 B 118 B
Net income 2020 131 B 19 943 M 19 943 M
Net Debt 2020 - - -
P/E ratio 2020 12,0x
Yield 2020 2,47%
Capitalization 1 729 B 223 B 262 B
Capi. / Sales 2020 2,22x
Capi. / Sales 2021 2,10x
Nbr of Employees 372 194
Free-Float 82,4%
Chart PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD.
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Ping An Insurance (Group) Company of China, Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 27
Average target price 90,04 CNY
Last Close Price 87,65 CNY
Spread / Highest target 16,6%
Spread / Average Target 2,72%
Spread / Lowest Target -16,0%
EPS Revisions
Managers
NameTitle
Bo Yao Co-CEO, CFO, Executive Director & Chief Actuary
Sin Ying Tan Co-CEO, COO, Executive Director & Executive VP
Yong Lin Xie President, Co-CEO & Executive Director
Ming Zhe Ma Chairman
Jian Yi Sun Chairman-Supervisory Board