Ping An Insurance of China : Overseas Regulatory Announcement

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

OVERSEAS REGULATORY ANNOUNCEMENT

This announcement is made pursuant to Rules 13.09 and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

"The Announcement of Ping An Insurance (Group) Company of China, Ltd. in relation to the Disclosure of 2021 Interim Report Summary of Ping An Bank", which is published by Ping An Insurance (Group) Company of China, Ltd. on the website of the Shanghai Stock Exchange, is reproduced herein for your reference.

By order of the Board

Sheng Ruisheng

Joint Company Secretary

Shenzhen, PRC, August 19, 2021

As at the date of this announcement, the executive directors of the Company are Ma Mingzhe, Xie Yonglin, Tan Sin Yin, Yao Jason Bo and Cai Fangfang; the non-executive directors of the Company are Soopakij Chearavanont, Yang Xiaoping and Wang Yongjian; the independent non-executive directors of the Company are Ge Ming, Ouyang Hui, Ng Sing Yip, Chu Yiyun and Liu Hong.

Stock Code: 601318

Stock Short Name: Ping An of China

Serial No.: Lin 2021-037

THE ANNOUNCEMENT OF

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

IN RELATION TO

THE DISCLOSURE OF 2021 INTERIM REPORT SUMMARY OF

PING AN BANK

The board of directors and all directors of Ping An Insurance (Group) Company of China, Ltd. (hereinafter referred to as the "Company") confirm that there are no false representations and misleading statements contained in, or material omissions from this announcement, and severally and jointly accept the responsibility for the truthfulness, accuracy and completeness of the contents of this announcement.

Ping An Bank Co., Ltd. (hereinafter referred to as "Ping An Bank"), a subsidiary of the Company, has published the "2021 Interim Report of Ping An Bank" on the website of the Shenzhen Stock Exchange (www.szse.cn).

Please also refer to the "2021 Interim Report Summary of Ping An Bank" disclosed by the Company on the website of the Shanghai Stock Exchange (www.sse.com.cn) for the operating performance of Ping An Bank for the first half of 2021.

The Board of Directors

Ping An Insurance (Group) Company of China, Ltd.

August 19, 2021

[English translation for reference only. Should there be any inconsistency between the Chinese and

English versions, the Chinese version shall prevail.]

Summary of 2021 Interim Report of Ping An Bank Co., Ltd.

I. Important Notes

1. The Summary of 2021 Interim Report is extracted from the full text of the 2021 Interim Report. Investors are advised to carefully read the full interim report at the news media designated by the China Security Regulatory Commission to have a comprehensive understanding of the business performance, financial position and future development plan of the Bank.
2. The board of directors (hereinafter referred to as the "Board"), the supervisory committee, the directors, the supervisors and senior management of the Bank guarantee the authenticity, accuracy and completeness of the contents of the Interim Report, in which there are no false representations, misleading statements or material omissions, and are severally and jointly take responsibilities for its contents.
3. The 23rd meeting of the 11th session of the Board deliberated the 2021 Interim Report together with its summary. The Board meeting required 14 directors to attend, and 14 directors attended the Board meeting. The Interim Report was approved unanimously at the meeting.
4. The 2021 Interim Report of the Bank was unaudited, but was reviewed by Ernst & Young Hua Ming LLP. Reminder on non-standard audit opinions
   □Applicable √ Not applicable
5. Xie Yonglin (the Bank's Chairman), Hu Yuefei (the President), Xiang Youzhi (the Vice President and the CFO) and Zhu Peiqing (the head of the Finance Department) guarantee the authenticity, accuracy and completeness of the financial report included in the 2021 Interim Report.
6. Proposal of profit distribution of ordinary shares or proposal of provident reserve converting into share capital considered by the Board during the reporting period
   □Applicable √ Not applicable
   There was no proposal to distribute cash dividends, issue bonus shares or convert provident reserve into share capital for the first half of 2021.
   Proposal of profit distribution of preference shares approved by the resolution of the Board during the reporting period

• Applicable □ Not applicable

1

Amount of

Conformity with

Time of distribution

Dividend

distribution

distribution

Method of

Accumulation

Participation of

yield

(RMB)

requirements and

dividend payment

of dividend

surplus profit

(tax inclusive)

procedures

8 March 2021

4.37%

874,000,000.00

Yes

Cash

No

No

II. Company profile

Stock Abbreviation

Ping An Bank

Stock code

000001

Traded on

Shenzhen Stock Exchange

Contact information

Secretary to the Board

Representative of Securities Affairs

Name

Zhou Qiang

Lv Xuguang

Board Office of Ping An Bank, Block B,

Board Office of Ping An Bank, Block B,

Office Address

Ping An Financial Centre, No. 5023,

Ping An Financial Centre, No. 5023,

Yitian Road, Futian District, Shenzhen,

Yitian Road, Futian District, Shenzhen,

Guangdong, the PRC

Guangdong, the PRC

Facsimile

[phone]

[phone]

Telephone

[phone]

[phone]

E-mail

[e-mail]

[e-mail]

III. Accounting data and financial indicators

1.Key indicators

				(In RMB million)
Item	Jan. - Jun. 2021	Jan. - Jun. 2020	Year-on-year change
Operating income	84,680	78,328		8.1%
Net profit attributable to shareholders of the Bank	17,583	13,678		28.5%
Cost/income ratio	27.35%	27.30%	+0.05	percentage point
Average return on total assets (annualised)	0.77%	0.67%	+0.10	percentage point
Weighted average return on net assets (annualised)	10.74%	9.33%	+1.41 percentage points
Net interest margin (annualised)	2.83%	2.87%	-0.04	percentage point
Proportion of net non-interest income	29.90%	29.04%	+0.86	percentage point
			Change at the end of the
	30 June 2021	31 December 2020	reporting period from the
				end of last year
Deposit principals due to customers	2,866,678	2,673,118		7.2%
Total principal of loans and advances to customers	2,874,893	2,666,297		7.8%
Non-performing loan (NPL) ratio	1.08%	1.18%	-0.10 percentage point
Provision coverage ratio	259.53%	201.40%	+58.13 percentage points
	2

Deviation ratio of loans overdue for more than 60	0.85	0.92	-0.07
days
Capital adequacy ratio	12.58%	13.29%	-0.71 percentage point

2. Key accounting data and financial indicators

				(In RMB million)
				Change at the
		31 December	31 December	end of the
Item	30 June 2021	reporting period
2020	2019
		from the end of
				last year
Total assets	4,723,520	4,468,514	3,939,070		5.7%
Shareholders' equity	377,193	364,131	312,983		3.6%
Shareholders' equity attributable to ordinary	307,249	294,187	273,035		4.4%
shareholders
Share capital	19,406	19,406	19,406		-
Net asset per share attributable to ordinary shareholders	15.83	15.16	14.07		4.4%
(RMB/share)
Item	Jan. - Jun.	Jan. - Jun.	Jan.-Dec. 2020	Year-on-year
2021	2020	change
Operating income	84,680	78,328	153,542		8.1%
Operating profit before impairment losses on credit and	60,700	56,150	107,327		8.1%
other assets
Impairment losses on credit and other assets	38,285	38,491	70,418		(0.5%)
Operating profit	22,415	17,659	36,909		26.9%
Profit before tax	22,341	17,587	36,754		27.0%
Net profit attributable to shareholders of the Bank	17,583	13,678	28,928		28.5%
Net profit attributable to shareholders of the Bank after	17,511	13,586	28,840		28.9%
non-recurring gains/losses
					Negative
Net cash flows from operating activities	(115,972)	(25,666)	(16,161)	amount for the
	same period of
					last year
Ratio per share (RMB/share):
Basic/Diluted earnings per share (EPS)	0.80	0.66	1.40		21.2%
Basic/Diluted EPS after non-recurring gains/losses	0.80	0.66	1.40		21.2%
					Negative
Net cash flows from operating activities per share	(5.98)	(1.32)	(0.83)	amount for the
same	period of
					last year
Financial ratios (%):
Return on total assets (un-annualised)	0.37	0.33	N/A		+0.04
percentage point
	3