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    2318   CNE1000003X6

PING AN INSURANCE GROUP COMPANY

(2318)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-09-28 am EDT
39.00 HKD   -4.18%
09/20PING AN INSURANCE GROUP COMPANY : Ex-dividend day for interim dividend
FA
09/16Execution of Sub-license Agreement from Ping An-Shionogi Hong Kong to Ildong for Ensitrelvir Fumaric Acid, a Therapeutic Drug for COVID-19, for South Korea
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09/16Chinese Commercial Banks Book $25 Billion Forex Settlement Surplus in August
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HSBC rejects Ping An break-up call

08/01/2022 | 10:43am EDT

STORY: HSBC shares jumped around 8% on Monday (August 1).

It comes after it pushed back on a proposal by a top shareholder to split the lender.

HSBC said the idea put forward by China's Ping An Insurance Group would be costly.

It also argued it could hurt the bank's credit rating, tax bill and operating costs in the long-term.

Monday's comments were the most direct defense by Europe's biggest bank against the move.

In April, Ping An had called to carve out the lender's Asian operations.

HSBC is due to meet shareholders in Hong Kong on Tuesday (August 2) to talk over the insurer's idea.

The bank also pleased investors by posting profits beyond expectations.

HSBC saw a pretax profit of $9.2 billion for the first half of the year.

It was down from last year, but beat analyst estimates of around $8.1 billion.

The lender said it would now focus on restructuring its U.S. and European businesses instead of a break-up.

HSBC also vowed to go back to paying quarterly dividends from early next year.


© Reuters 2022
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More news
Analyst Recommendations on PING AN INSURANCE GROUP COMPANY
More recommendations
Financials
Sales 2022 772 B 107 B 107 B
Net income 2022 114 B 15 862 M 15 862 M
Net Debt 2022 - - -
P/E ratio 2022 5,40x
Yield 2022 6,84%
Capitalization 713 B 99 022 M 99 022 M
Capi. / Sales 2022 0,92x
Capi. / Sales 2023 0,86x
Nbr of Employees 355 982
Free-Float 82,4%
Chart PING AN INSURANCE GROUP COMPANY
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Technical analysis trends PING AN INSURANCE GROUP COMPANY
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 26
Last Close Price 35,77 CNY
Average target price 61,64 CNY
Spread / Average Target 72,3%
EPS Revisions
Managers and Directors
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