Ping An 2318

Re: Ping An 2318

Postby winston » Sun Nov 25, 2012 1:04 pm

Another Big Stake in Ping An, Hidden in a Hong Kong Investment
By DAVID BARBOZA

The main connection to Ping An for relatives of Wen Jiabao was through their stakes in a company based in the prime minister’s hometown, Tianjin, in northern China. But there was also apparently a Hong Kong connection.

Cheng Yu-tung, a Hong Kong billionaire. At one time, his companies owned 20 percent of Ping An.

One big investor in Ping An was Zheng Jianyuan, who former Ping An executives said worked as a business associate and an investment manager for Cheng Yu-tung, the Hong Kong billionaire who controls both the New World Development Group and Chow Tai Fook, one of the world’s largest jewelry store chains.

http://www.nytimes.com/2012/11/25/busin ... .html?_r=0
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Re: Ping An 2318

Postby winston » Tue Jan 08, 2013 3:06 pm

CDB reportedly reconsiders whether to back CP Group deal

There may be an uncertainty about HSBC HOLDINGS (00005.HK)'s sale of its 15.6% stake in PING AN (02318.HK) to Thai CP Group all of a sudden.

China Development Bank, which backs the deal, is going to reconsider whether to throw its support behind the transaction, market sources said.

CP Group could not comment on the development immediately, while both HSBC and PING AN declined comment.

PING AN has dropped 4.1% to $68.1 today.


Source: AAStocks Financial News
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Re: Ping An 2318

Postby winston » Thu Jan 10, 2013 8:22 am

Exclusive: HK bank chief suspended over Ping An deal

The head of China Development Bank's Hong Kong branch has been suspended after a U-turn by the state-owned lender over its proposed involvement in a deal for HSBC's stake in Ping An Insurance.

CDB is understood to have backed off from its plan to provide loan support for a US$9.4 billion bid by a Thai conglomerate for HSBC's holding in the mainland's No 2 life insurer.

Sources close to the situation told the South China Morning Post yesterday that Liu Hao , CDB's Hong Kong branch head, was informed by the lender's Beijing headquarters last week that he had been suspended from his job until further notice.

Liu's suspension was related to the multibillion-dollar loan deal CDB initially agreed with Charoen Pokphand Group (CP) to support the Thai firm's acquisition of HSBC's entire 15.6 per cent stake in Ping An, said the sources, who declined to be identified due to the highly sensitive nature of the matter.

"He has been suspended temporarily, but this doesn't necessarily mean he has a problem," one of the sources said. "It's still too early to say."

Liu, who officially took the Hong Kong position about a year ago, was also advised to return to Beijing quickly and give a full report on the loan arrangements to the top managers of CDB, led by chairman Chen Yuan , son of the late senior Communist Party leader Chen Yun .

In a brief e-mail in response to inquiries by the Post yesterday, Liu said he was "currently working normally in Hong Kong and performing my duties as the branch head of CDB". He declined to comment further.

Liu was the decision-maker at CDB on last month's loan deal with CP, which is known for its food exports but has little experience in the financial industry, the sources said.

Chen was annoyed when he was later informed that the Thai firm might not be the real buyer and ultimate holder of the Ping An stake, which has been held by HSBC for more than a decade, the sources said.

Part of the money CDB initially agreed to lend CP for the Ping An deal came from a pool of cash Beijing wanted CDB to reserve for agriculture-related financing purposes, one of the sources said.

He added that any misuse of agriculture-only loans could result in a breach of banking regulations.

On Tuesday, the Post broke the news that CDB was reconsidering its decision to back CP's bid, a signal the deal was in trouble.

The Post also ran an exclusive report yesterday that the China Insurance Regulatory Commission was poised to reject the deal over concerns about how the deal was funded and the identity of the real buyer. Xiao Jianhua , a secretive mainland businessman, is believed to be the buyer behind the scenes, the Post reported.

Liu's suspension has so far remained an internal matter of which only a few CDB senior executives related to the case are aware, the people the Post spoke to yesterday said. No internal or public statement about the suspension has been made. Liu may resume his job once the case is cleared, the sources said.

From a legal perspective, before any formal application to the China Banking Regulatory Commission (CBRC) for approval of a change in a senior position such as Liu's, the incumbent's title remains unchanged.

CDB opened its Hong Kong branch in 2009. It is an important offshore business platform from which the lender - a policy bank turned commercial bank that is directly under the State Council, China's cabinet - can expand outside the mainland.

Early last month, HSBC surprised the market by saying it would sell its Ping An stake to CP.

HSBC said the deal would be closed in two stages. CP would first pay for about 20 per cent of the shares with its own cash and the remainder would be paid for with a combination of cash and loans sponsored by CDB's Hong Kong branch.

Ping An gained 0.88 per cent in Hong Kong yesterday - as the Hang Seng Index rose 0.46 per cent - after sinking 4 per cent on Tuesday, but its Shanghai shares fell 0.86 per cent as the onshore market dipped 0.03 per cent.

HSBC slipped 0.12 per cent to HK$82.65.

http://www.scmp.com/news/article/112419 ... -ping-deal
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Re: Ping An 2318

Postby winston » Tue Jan 15, 2013 8:35 am

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Premium income of PING AN (02318.HK)'s life insurance unit rises 8% in 2012

PING AN (02318.HK) announced that the accumulated gross premium income of its subsidiaries, namely Ping An Life Insurance Company of China, Ltd., Ping An Property & Casualty Insurance Company of China, Ltd., Ping An Health Insurance Company of China, Ltd. and Ping An Annuity Insurance Company of China, Ltd., for the period from January 1, 2012 to December 31, 2012 were RMB128,771.17 million, RMB98,786.20 million, RMB210.75 million and RMB5,869.22 million, representing a year-on-year growth of 8.2%, 18.5%, 60.4% and 17.5% respectively.


Source: AAStocks Financial News
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Re: Ping An 2318

Postby winston » Fri Jun 20, 2014 7:22 am

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PING AN (02318.HK) downgraded to Underweight, targeted at $56 - Nomura
2014-06-19

Nomura, in its latest research report, downgraded PING AN (02318.HK) 0.000 (0.000%) Short selling $145.01M; Ratio 20.305% from Buy to Underweight, with target cut from $80 to $56 to reflect the concerns over Ping An Bank and Trust.

Meanwhile, HSBC HOLDINGS (00005.HK) 0.000 (0.000%) Short selling $37.84M; Ratio 7.252% disposal of PING AN's shares for $59 per share will become the upside resistance in short term.

Source: AAStocks Financial News
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Re: Ping An 2318

Postby winston » Fri Jun 20, 2014 12:02 pm

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<Research Report>M Stanley: Ping An rated "Overweight" with target $81

Morgan Stanley, in its latest research report, said it has conducted a survey and 77% of the participants expressed concerns over the capital risk in PING AN (02318.HK).

The research house believes the result reflects the weak capital of the Bank, concerns over default as Trust size expands, and the mixed performance in stock price seen in the previous fund raising of Ping An.

The Company stands low chance of further fund raising in near term, as it has issued convertible bonds in 2013, and it should own capital of approximately RMB30 billion to RMB40 billion, Morgan Stanley said.

Based on the valuation, the Overweight rating is maintained, with target $81.

Source: AAStocks Financial News
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Re: Ping An 2318

Postby winston » Fri Mar 20, 2015 5:57 am

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Ping An profit spikes

Ping An Insurance (2318) saw net profit surge 39.51 percent last year to 39.28 billion yuan (HK$49.21 billion), with the net investment yield of its insurance funds hitting a three-year high.

Earnings per share at China's second largest insurer climbed to 4.93 yuan, and a final dividend of 50 fen was proposed.

Total income soared 25.83 percent to 530.02 billion yuan, with the contribution from the life segment rising 15.21 percent to 252.73 billion yuan while property and casualty insurance jumped 23.75 percent to 143.15 billion yuan.

Both banking and investment sectors achieved double-digit growth. The net investment yield of insurance funds rose to 5.3 percent, a three-year high.

Its solvency margin ratio surged to 205.1 percent from 174.4 percent.

Chairman Ma Mingzhe said the firm wants to reinforce its internet finance unit.

Source: The Standard HK
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Re: Ping An 2318

Postby winston » Wed Jul 22, 2015 8:19 pm

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Ping An (2318 HK)

Ping An is one of the leading integrated financial groups in China that provides insurance, banking and investment services.

The group continued to report better-than-peers earnings in 2014 with solid premiums growth, robust investment income and stable P&C underwriting results.

In addition, the banking segment continued to deliver better-than-expected results.

We view Ping An as our top pick due to:
a) its better fundamentals,
b) re-rating of its banking operations, and
c) potential spin-off of its P2P internet financing platform

Source: UOBKH
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Re: Ping An 2318

Postby winston » Fri Aug 21, 2015 5:10 am

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Stock boom buoys Ping An Insurance

China's Ping An Insurance Group (2318) reported a 62 percent increase in first-half profit yesterday, boosted by gains from stock investments and booming sales of life insurance products.

The performance of Chinese insurers in the second half of the year could be affected by claims from last week's deadly explosions in the port of Tianjin, analysts and ratings agencies have said.

Ping An did not mention the Tianjin blast in its earnings report.

Profits for six months to June 30 reached 34.65 billion yuan (HK$42.05 billion), up from 21.3 billion yuan a year earlier, it said.

The improved performance also came from stronger sales of life insurance products.

Ping An's property and casualty insurance unit is among those facing exposure to claims from the devastating Tianjin explosions.

Ping An Property and Casualty has received 524 property insurance claims related to the Tianjin blast, Credit Suisse said yesterday.

Source: REUTERS
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Re: Ping An 2318

Postby winston » Wed Oct 28, 2015 6:56 am

Insurer's profit rises 32pc on strong sales

Ping An Insurance (2318) said its third- quarter net profit rose 32 percent due to strong sales of life insurance products.

China's second-largest insurer by market value posted net profit of 13.63 billion yuan (HK$16.62 billion) in the quarter ended September 30, it said.

But that reflected a slowdown in profit growth versus last year's third quarter, when profits doubled from the same period in 2013.

The big swings in Chinese insurers' financial results are partly due to local accounting rules requiring them to include changes in the value of their investment portfolios in their figures.

Ping An said written premiums in its life insurance business rose 16.2 percent in the first three quarters compared to a year earlier.

Separately, Ping An said it has formed a US$600 million (HK$4.68 billion) fund to invest in US real estate and logistics assets, together with Blumberg Investment Partners.

They also plan to invest a further US$400 million.

Source: REUTERS
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