Ping An Ins Group Co China Ltd - PNGAY STOCK NEWS

Ping An Insurance (Group) Company reported its financial results for the first nine months of 2022, highlighting a 3.8% increase in operating profit attributable to shareholders, reaching RMB123,288 million. However, net profit saw a 6.3% decline to RMB76,463 million. The company maintained a 19.9% annualized operating ROE and grew retail customers by 2.6%. Notably, Ping An continues to enhance its integrated finance + healthcare strategy, which now benefits over 146 million retail customers. The group has invested more than RMB5.9 trillion to support the real economy amidst challenging market conditions.

Ping An Insurance (Group) Company of China announced that its subsidiary, Ping An Bank, has released its first Environmental Information Disclosure Report for 2021. The report highlights the Bank's commitment to green finance, with a target of RMB400 billion in investments and RMB250 billion in green insurance premiums by 2025. As of December 31, 2021, the Bank's green finance balance reached RMB113.727 billion, a 199.6% increase year-on-year. The Bank aims to support China's carbon neutrality goals by promoting green finance and enhancing its governance structure.

Ping An Insurance (HKEx:2318; SSE:601318) has ranked #23 in the FutureBrand Index 2022 and leads the financial sector for the second consecutive year. The index evaluates brand perception based on various indicators, reflecting how companies address societal challenges. Despite COVID-19's impacts, Ping An reported a 20.4% annualized operating ROE in H1 2022 with profits increasing by 4.3% to RMB85,340 million. The company is also enhancing its green finance initiatives, with total green investments reaching RMB249,355 million as of June 30, 2022.

Ping An of China Asset Management (Hong Kong) Company Limited (PAAMC HK) has been recognized in 4 key categories by the Insurance Asset Management Association of China (IAMAC) for 2021. This prestigious accolade, based on a survey of over 160 insurance firms, highlights PAAMC HK as a leader in overseas business partnerships and investment management. Chairman Hoi Tung emphasized this recognition as a testament to the company's hard work during challenging times and its commitment to delivering value. Established in 2006, PAAMC HK is a subsidiary of China Ping An Insurance Overseas and is licensed by the SFC of Hong Kong.

Ping An Life has launched its home-based elderly care brand, Ping An Concierge, aiming to address challenges in China's aging population. Co-CEO Jessica Tan highlighted critical issues such as a rising elderly proportion and a shrinking pension pool. The new model combines insurance with elderly care services, offering over 300 services across major cities in China. With more than 10,000 customers qualified for these services, Ping An seeks to enhance the quality of life for seniors while easing family concerns through dedicated concierge services.

Ping An Insurance reported 4.3% year-on-year growth in operating profit for the first half of 2022, amounting to RMB85,340 million. The group's net profit reached RMB60,273 million, up 3.9% year-on-year. Shareholder returns improved with an interim cash dividend of RMB0.92 per share, reflecting a 4.5% increase. Despite ongoing COVID-19 challenges, Ping An's integrated financial services model expanded, serving over 225 million retail customers and enhancing performance across insurance and banking sectors.

Ping An Insurance announced the successful launch of PingAn-3, its first optical remote sensing satellite, from the Jiuquan Satellite Launch Center on August 22, 2022. This satellite aims to enhance financial services for micro, small, and medium-sized enterprises (MSMEs) by providing high-resolution data to assess loan risks and improve funding accessibility. Part of the Nebula IoT Program, the satellite will complement existing satellites to monitor agricultural and energy sectors, facilitating support for banks in evaluating projects and enhancing inclusive finance.

Ping An Insurance (Group) Company of China has launched its Ping An Guanlan Data Center No. 3, the first financial data center in mainland China with a Power Usage Effectiveness (PUE) below 1.25, achieving a PUE of 1.2479. This breakthrough is expected to save approximately 10.5 million kWh of electricity and reduce CO2 emissions by 6,406 tons annually. The center supports over 500 million users, aligning with Ping An's goal for operational carbon neutrality by 2030. This initiative is part of Ping An's broader commitment to green development and energy efficiency.