Ping An Insurance (02318) rose nearly 3% after the performance, as of the time of publication, rose 2.77%, to HK$35.25, with a turnover of HK$1.071 billion.
According to the Zhitong Finance APP, Ping An Insurance (02318) rose nearly 3% after the performance, as of the time of publication, rose 2.77%, to HK$35.25, with a turnover of HK$1.071 billion.
On the news front, Ping An Insurance released its interim performance for the six months ended June 30, 2024, with a total revenue of CNY 554.097 billion, an increase of 1.46% YoY; net income attributable to shareholders of the parent company was CNY 74.619 billion, an increase of 6.84% YoY; and earnings per share were CNY 4.21.
The announcement stated that in the first half of 2024, the group achieved an operating profit attributable to shareholders of the parent company of CNY 78.482 billion; annualized operating ROE was 16.4%. Among them, life and health insurance, property insurance, and banking, the three core businesses, achieved growth, with a total operating profit attributable to shareholders of the parent company of CNY 79.565 billion, an increase of 1.7% YoY. At the same time, Ping An paid attention to shareholder returns and will distribute an interim dividend of CNY 0.93 per share in cash to shareholders.
CICC believes that the improvement trend of Ping An's life insurance main business is obvious. Although some investors have doubts about the complex measurement of NBV, for companies with prudent operations, the return to the growth trend of NBV will eventually be realized as an improvement in profitability. Taking into account the trend of various indicators of Ping An's life insurance business, it is optimistic about its future operating trend.