vested
PING AN: Interim OP +18% Excl. Specific Provision; Yearns Life Insurance Reform Effect Next Yr
PING AN (02318.HK)'s net profit decreased 15.5% YoY to RMB58.005 billion in the first half of 2021.
Stripping impairment on the CFLD (600340.SH) investment, the insurer's operating profit would have risen 18% YoY during the period, said Co-CEO Yao Bo.
This indicated the group's financial conglomerate model is conducive to coping with different cycles.
Equally, Co-CEO Jessica Tan believed the 2022 life insurance reform will take effect.
PING AN Interim NP Drops 15.5% to RMB58.005B; Div. RMB0.88
Source: AAStocks Financial News
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Ping An 2318
Re: Ping An 2318
by winston » Fri Aug 27, 2021 1:26 pm
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Re: Ping An 2318
by winston » Fri Aug 27, 2021 3:22 pm
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PING AN: Investment Mkt to Remain Volatile in 2H; New Econ. Investment Reaches RMB700B
PING AN (02318.HK) CIO Chan Tak Yin expressed that the company expects the financial and asset market to remain volatile over 2H, with uncertainties surrounding the COVID-19 resurgence and higher-than-expected inflation.
The market fluctuations, however, could offer investment opportunities, opined Chan, stating the group's investment in new economy has reached RMB700 billion.
UBS Axes PING AN (02318.HK) TP to $90; Rated Buy
Source: AAStocks Financial News
PING AN: Investment Mkt to Remain Volatile in 2H; New Econ. Investment Reaches RMB700B
PING AN (02318.HK) CIO Chan Tak Yin expressed that the company expects the financial and asset market to remain volatile over 2H, with uncertainties surrounding the COVID-19 resurgence and higher-than-expected inflation.
The market fluctuations, however, could offer investment opportunities, opined Chan, stating the group's investment in new economy has reached RMB700 billion.
UBS Axes PING AN (02318.HK) TP to $90; Rated Buy
Source: AAStocks Financial News
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Re: Ping An 2318
by winston » Mon Aug 30, 2021 7:04 am
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Ping An boosted as insurer sees limit to developer losses
Source: Bloomberg
https://www.thestandard.com.hk/breaking ... per-losses
Ping An boosted as insurer sees limit to developer losses
China’s largest insurer by market value may spare additional impairment on its exposure to China Fortune Land Development Co., Chief Financial Officer Jason Yao said at an earnings conference Friday.
The investment erased 20.8 billion yuan from net profit in the first six months, more than double the toll announced in April, results showed Thursday.
Ping An may even claw back some of the losses this year if the debt situation of the developer improves, Yao said.
The insurer said it will continue to work with various parties to resolve the “debt crisis” of China Fortune, which earlier this year defaulted on a $530 million dollar bond, becoming the nation’s first real estate firm to suffer a repayment failure since Beijing tightened controls of the debt-laden sector last year. Ping An holds a 25% stake, according to Bloomberg data.
“The drag from China Fortune investments may ease in the second half,” said Steven Lam, a Hong Kong-based Bloomberg Intelligence analyst. “Ping An already set aside 36 billion yuan for losses, accounting for the bulk of its exposure,” he said.
Operating profit, which the insurer says better reflects performance by stripping out short-term investment volatilities and one-time items, rose 10% for the six months ended June 30.
That indicator beat market consensus compiled by the company by 4%, according to its Chief Capital Markets Officer James Garner.
Net income dropped 16% to 58 billion yuan.
In a move that may lift investor confidence, Ping An also said it plans to buy back up to 10 billion yuan of Shanghai-listed A shares.
Source: Bloomberg
https://www.thestandard.com.hk/breaking ... per-losses
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Re: Ping An 2318
by winston » Mon Aug 30, 2021 11:48 am
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Ping An Insurance (2318 HK / 601318 CH) - Solid OPAT growth
Ping An is China’s second largest life and property & casualty (p&c) insurer, with an integrated financials services platform.
Life insurance, p&c insurance and banking segments contributed 55%, 20% and 18% respectively to 2020 operating profits.
Driven by its strong agency focus, diversified business model and proprietary technology to improve the customer experience and facilitate cross-sales efforts, Ping An continues to deliver strong organic growth in life/health insurance and internet finance, benefiting from the rising protection and wealth management needs of China’s rising middle class.
Following a transition period for the company, we expect continued distribution cost discipline and life product mix improvements ahead.
To improve retention rates, the company has moved its recruitment model from mass hiring to an artificial intelligence (AI) based electronic process.
Potential further value at a later stage may be unlocked by separate listing of its Fintech and Securities businesses. BUY.
Source: OCBC
Ping An Insurance (2318 HK / 601318 CH) - Solid OPAT growth
Ping An is China’s second largest life and property & casualty (p&c) insurer, with an integrated financials services platform.
Life insurance, p&c insurance and banking segments contributed 55%, 20% and 18% respectively to 2020 operating profits.
Driven by its strong agency focus, diversified business model and proprietary technology to improve the customer experience and facilitate cross-sales efforts, Ping An continues to deliver strong organic growth in life/health insurance and internet finance, benefiting from the rising protection and wealth management needs of China’s rising middle class.
Following a transition period for the company, we expect continued distribution cost discipline and life product mix improvements ahead.
To improve retention rates, the company has moved its recruitment model from mass hiring to an artificial intelligence (AI) based electronic process.
Potential further value at a later stage may be unlocked by separate listing of its Fintech and Securities businesses. BUY.
Source: OCBC
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Re: Ping An 2318
by winston » Tue Aug 31, 2021 8:42 am
China regulator probing Ping An Insurance's property investments — sources
by Engen Tham, Zhang Yan & Kane Wu
Source: Reuters
https://www.theedgemarkets.com/article/ ... 94-sources
by Engen Tham, Zhang Yan & Kane Wu
The CBIRC has also ordered the insurer to stop selling alternative investment products, which are typically tied to the property market.
In February disclosed a 54 billion yuan (US$8.4 billion) exposure to the indebted China Fortune Land Development Co Ltd.
China Fortune, a developer of industrial parks and urban real estate, said it had overdue debt and interest worth 69.2 billion yuan as of end-June.
The insurer's total real estate-related exposure is 185.5 billion yuan, weighing roughly equally on equities, debt, and investment properties and accounting for around 4.8% to 4.9% of its 3.8 trillion yuan total investment portfolio.
Ping An's other property investments include 14.1% of the shares in China Jinmao Holdings Group Ltd, 8% of Country Garden Holdings Co Ltd, and 6.54% of CIFI Holdings (Group) Co Ltd.
Source: Reuters
https://www.theedgemarkets.com/article/ ... 94-sources
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Re: Ping An 2318
by winston » Tue Aug 31, 2021 10:54 am
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Ping An Insurance Group (2318 HK / 601318 CH): <News alert> News reported that CBIRC is probing on Ping An‘s property investments [BUY, TP: HK$105.00 / BUY, TP: RMB90.62]
We have reached out to Ping An and the insurers indicated their investment always strictly follows related regulatory rules and they do not comment on market rumors which are not based on facts.
As of 1H21, Ping An’s total property investments has reached Rmb186bn, or less than 5% of its investment portfolio and within the regulatory cap of 20% (1/3 in equity, 1/3 in debt, and 1/3 in property right).
Investment return of Ping An’s property investments has reached 7% and around 10% of its net investment income in FY20 came from its property investments.
The asset class has helped Ping An to lengthen its asset duration (i.e. office building at 20-30 years) which also offers stable and attractive returns.
Maintain BUY on Ping An (2318 HK) and see any share price pullback as a good buying opportunity.
Source: DBS
Ping An Insurance Group (2318 HK / 601318 CH): <News alert> News reported that CBIRC is probing on Ping An‘s property investments [BUY, TP: HK$105.00 / BUY, TP: RMB90.62]
We have reached out to Ping An and the insurers indicated their investment always strictly follows related regulatory rules and they do not comment on market rumors which are not based on facts.
As of 1H21, Ping An’s total property investments has reached Rmb186bn, or less than 5% of its investment portfolio and within the regulatory cap of 20% (1/3 in equity, 1/3 in debt, and 1/3 in property right).
Investment return of Ping An’s property investments has reached 7% and around 10% of its net investment income in FY20 came from its property investments.
The asset class has helped Ping An to lengthen its asset duration (i.e. office building at 20-30 years) which also offers stable and attractive returns.
Maintain BUY on Ping An (2318 HK) and see any share price pullback as a good buying opportunity.
Source: DBS
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Re: Ping An 2318
by winston » Fri Sep 10, 2021 5:01 am
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CP offloads part of Ping An stake
CP Group offloaded part of its stake in Ping An Insurance (2318) at HK$60.577 a share on Monday, a premium of 1.64 percent compared to yesterday's closing price.
The sale brought in HK$463 million, bourse data showed.
That took the stake held by Thailand's top agro-industrial conglomerate from 17.02 to 16.91 percent.
Source: The Standard
https://www.thestandard.com.hk/section- ... g-An-stake
CP offloads part of Ping An stake
CP Group offloaded part of its stake in Ping An Insurance (2318) at HK$60.577 a share on Monday, a premium of 1.64 percent compared to yesterday's closing price.
The sale brought in HK$463 million, bourse data showed.
That took the stake held by Thailand's top agro-industrial conglomerate from 17.02 to 16.91 percent.
Source: The Standard
https://www.thestandard.com.hk/section- ... g-An-stake
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Re: Ping An 2318
by winston » Tue Sep 14, 2021 6:54 pm
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PING AN 8M21 Premium Incomes Dip 5.3% YoY to RMB531.8B
PING AN (02318.HK) announced that the accumulated gross premium incomes of the four subsidiaries of the company for the period from January 1, 2021 to August 31, 2021 sank 5.33% YoY to RMB531.785 billion.
Source: AAStocks Financial News
PING AN 8M21 Premium Incomes Dip 5.3% YoY to RMB531.8B
PING AN (02318.HK) announced that the accumulated gross premium incomes of the four subsidiaries of the company for the period from January 1, 2021 to August 31, 2021 sank 5.33% YoY to RMB531.785 billion.
Source: AAStocks Financial News
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Re: Ping An 2318
by winston » Tue Sep 21, 2021 10:32 am
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Ping An - BUY (Panic attack)
Ping An’s share price has declined by 13% over the past week, mainly reflecting concern over real estate exposure and potential systemic risk.
We believe the market has over-reacted as Ping An has lost more market cap over the past month than its real estate exposure.
Its implied life embedded value (EV) multiple is only 0.4x, comparable to SOE peers.
We maintain our BUY rating on Ping An with an unchanged target price of HK$83.
source: CLSA
Ping An - BUY (Panic attack)
Ping An’s share price has declined by 13% over the past week, mainly reflecting concern over real estate exposure and potential systemic risk.
We believe the market has over-reacted as Ping An has lost more market cap over the past month than its real estate exposure.
Its implied life embedded value (EV) multiple is only 0.4x, comparable to SOE peers.
We maintain our BUY rating on Ping An with an unchanged target price of HK$83.
source: CLSA
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Re: Ping An 2318
by winston » Tue Sep 21, 2021 10:46 am
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Ping An Insurance (2318 HK / 601318 CH) - Spooked by real estate concerns
Ping An is China’s second largest life and property & casualty (p&c) insurer, with an integrated financials services platform.
Life insurance, p&c insurance and banking segments contributed 55%, 20% and 18% respectively to 2020 operating profits.
Driven by its strong agency focus, diversified business model and proprietary technology to improve the customer experience and facilitate cross-sales efforts, Ping An continues to deliver strong organic growth in life/health insurance and internet finance, benefiting from the rising protection and wealth management needs of China’s rising middle class.
Following a transition period for the company, we expect continued distribution cost discipline and life product mix improvements ahead.
To improve retention rates, the company has moved its recruitment model from mass hiring to an artificial intelligence (AI) based electronic process.
Potential further value at a later stage may be unlocked by separate listing of its Fintech and Securities businesses. BUY.
Source: OCBC
Ping An Insurance (2318 HK / 601318 CH) - Spooked by real estate concerns
Ping An is China’s second largest life and property & casualty (p&c) insurer, with an integrated financials services platform.
Life insurance, p&c insurance and banking segments contributed 55%, 20% and 18% respectively to 2020 operating profits.
Driven by its strong agency focus, diversified business model and proprietary technology to improve the customer experience and facilitate cross-sales efforts, Ping An continues to deliver strong organic growth in life/health insurance and internet finance, benefiting from the rising protection and wealth management needs of China’s rising middle class.
Following a transition period for the company, we expect continued distribution cost discipline and life product mix improvements ahead.
To improve retention rates, the company has moved its recruitment model from mass hiring to an artificial intelligence (AI) based electronic process.
Potential further value at a later stage may be unlocked by separate listing of its Fintech and Securities businesses. BUY.
Source: OCBC
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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