601318.SS - Ping An Insurance (Group) Company of China, Ltd.
| Previous Close | 91.72 |
| Open | 92.30 |
| Bid | 89.75 x 0 |
| Ask | 89.76 x 0 |
| Day's Range | 89.68 - 92.45 |
| 52 Week Range | 54.94 - 92.50 |
| Volume | 59,091,288 |
| Avg. Volume | 50,786,147 |
| Market Cap | 1.599T |
| Beta (3Y Monthly) | 1.08 |
| PE Ratio (TTM) | 10.91 |
| EPS (TTM) | 8.23 |
| Earnings Date | Oct 24, 2019 |
| Forward Dividend & Yield | 1.85 (2.04%) |
| Ex-Dividend Date | 2019-09-04 |
| 1y Target Est | 83.33 |
- MarketWatch
How the hostile bid lost its aura
There have only been 17 completed or pending hostile deals launched so far this year. That is the lowest number since 1998 for the comparable year to date when there were 14, according to data from Dealogic.
- PR Newswire
Ping An Selected for Dow Jones Sustainability Index
SSE: 601318) has been selected for the 2019 Dow Jones Sustainability Emerging Markets Index (DJSI) for the first time. Ping An is the first insurance company from mainland China to be selected in the Emerging Markets Index. The latest review of the DJSI was officially released on 23 September.
- PR Newswire
First China Corporate Bond UCITS Fund launched in China by Ping An and Queensland Investment Corporation
HONG KONG and SHANGHAI , Sept. 23, 2019 /PRNewswire/ -- Ping An Insurance (Group) Company of China , Ltd. (hereafter " Ping An " or the "Group", HKEX: 2318; SSE: 601318) is pleased ...
- Reuters
Ping An's OneConnect plans New York listing in mid-Nov - source
Ping An Insurance's OneConnect financial technology unit is aiming for a stock market debut in New York in mid November this year, a person with direct knowledge of the matter said. Ping An Insurance Group Co of China Ltd, China's biggest insurer by market value, changed the listing venue to New York from Hong Kong a few months ago in the hope of achieving a higher valuation. OneConnect, which provides technology solutions to small and medium-sized financial institutions, was eyeing a valuation of about $8 billion and raise up to $1 billion in the IPO, sources had told Reuters in June.
- PR Newswire
Ping An Leads Investment in Riverain Technologies to Advance AI in Healthcare
HONG KONG and SHANGHAI , Sept. 18, 2019 /PRNewswire/ -- Ping An Insurance (Group) Company of China , Ltd. (hereafter " Ping An " or the "Group", HKEX: 2318; SSE: 601318) is pleased ...
- Thomson Reuters StreetEvents
Edited Transcript of 601318.SS earnings conference call or presentation 16-Aug-19 2:00am GMT
Half Year 2019 Ping An Insurance Group Co of China Ltd Earnings Presentation (Chinese, English)
- Bloomberg
SoftBank Needs a Different IPO After WeWork Slip
(Bloomberg Opinion) -- SoftBank Group Corp. and its Vision Fund need another win. And they need it fast.With news that U.S. rental office company WeWork – formally known as The We Company – looks set to delay its IPO, we can see just how dependent SoftBank supremo Masayoshi Son’s empire was on this one exit to keep the Japanese company’s hit machine ticking along. SoftBank Vision Fund has been a major investor in some of this year’s most significant listings. Uber Technologies Inc. and Slack Technologies Inc. were among them. Both have fallen this quarter, dragging down the value of the Fund.There is a pattern to how the Vision Fund keeps returns climbing. Buy in at a later round of a startup’s funding, list the company a year or two later, and book the mark-to-market gains.Sounds simple, except for the one-two punch that follows: SoftBank, like most pre-IPO investors, is generally locked in and can’t cash out that profit for at least a year. Additionally, IPO shares have a tendency to perform badly in their first year. For SoftBank and the Vision Fund, that means quick gains turn to slow public-market losses that need to be booked every period, hurting returns in subsequent quarters.To paper over these losses, the Fund can book gains by bringing its next hot offering to market. That means that as long as there’s a healthy IPO each quarter, the pain from public-market declines can be squelched. So the model becomes: IPO gain, public-market losses, IPO gain. And around again.With WeWork, however, the merry-go-round risks turning into musical chairs. The game needs IPOs on the floor or the music stops. Had WeWork gone public before Sept. 30, and at a healthy premium to the various prices SoftBank paid through its funding rounds, then such paper profits likely would have covered over losses caused by the 26% decline in Uber’s shares so far this quarter and the 30% drop in those for Slack.As Bloomberg’ s Gillian Tan wrote earlier this month, SoftBank and its affiliates own around 29% of WeWork. Should the $47 billion valuation at which SoftBank most-recently bought in turn into the current whisper number of $15 billion, then SoftBank and the Fund could be set to lose as much as $9.28 billion right out of the gate.(4)That would result in an unusual IPO loss, drag down the Fund, and ruin the quarterly model. So it makes sense that SoftBank wants to delay WeWork’s IPO, at least until after Sept. 30. WeWork responded to reports of this delay by saying it expects to complete the IPO by the end of this year.Assuming that there’s no other basis for revaluation, such as a new equity round, the Vision Fund can still contend that WeWork is worth $47 billion when it closes its books at the end of this month.But that doesn’t solve the possibility of the Vision Fund posting a loss this quarter thanks to slides in Uber and Slack. One listed portfolio company, Ping An Good Doctor (aka Ping An Healthcare and Technology Co.), was up 39% in Hong Kong as of Tuesday morning, netting a gain of around $110 million to the Vision Fund. Others have fallen, including Guardant Health Inc. (-13%) and ZhongAn Online P&C Insurance Co. (-8.6%). I believe that this leaves SoftBank Vision Fund with little choice but to enact a two-pronged strategy. First, take a “big bath(3)” for the September quarter and get the bad news behind it. Second, hurry along the IPOs of the other unicorns in its stable.ByteDance, the hugely popular Chinese video content platform, is currently the world’s most valuable startup at $75 billion, according to CB Insights. That’s followed by Chinese ride-hailing provider Didi Chuxing at $56 billion. I don’t think either is ready to IPO in the next month or two, but there’s always a chance ByteDance may decide to list before a slowdown in the Chinese economy starts to show up in its growth metrics.There are also some smaller fruit about to ripen. South Korean e-commerce company Coupang and U.S. food delivery provider DoorDash Inc. could find favor among IPO investors. Southeast Asian transport and services startup Grab Holdings Inc. would also be very popular, but I sense they want to spend a little more time building the non-transport offerings before pitching an IPO. Then there is Son’s plan to relist British semiconductor designer ARM Holding Plc, which would likely be a success because of its central role in the global technology sector.Despite the troubles with WeWork, SoftBank still has a strong team of highly valued startups on its roster. But they’re not much good to the Vision Fund if they’re sitting on the bench.(1) The exact scale of any loss would depend on how SVF has valued preferred shares acquired in earlier rounds. This figure assumes the Fund raised valuations in subsequent funding rounds.(2) Big Bath refers to the concept of collating lots of bad news in one quarter so that a company can put it all in the past and move on. Often seen as manipulation, I'd argue this can actually be a healthy strategy because it allows investors and management to return their focus to building the company.To contact the author of this story: Tim Culpan at tculpan1@bloomberg.netTo contact the editor responsible for this story: Patrick McDowell at pmcdowell10@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
- PR Newswire
Ping An Invests in Joonko to Modernize Financial Services in Europe
SSE: 601318) is pleased to announce Ping An Global Voyager Fund is investing Joonko, the new digital financial portal from finleap, Europe's leading fintech ecosystem. Joonko is the digital financial portal that helps European consumers to choose the right financial products for their personal saving and protection needs. Ping An invested in finleap in 2018 and has had significant involvement in developing Joonko's strategy and technology capabilities.
- PR Newswire
Ping An and HKEX Sign MOU
HONG KONG , Sept. 6, 2019 /PRNewswire/ -- Ping An Insurance (Group) Company of China , Ltd. (hereafter "Ping An" or the "Group", HKEX: 2318; SSE: 601318) and Hong Kong Exchanges and ...
- Motley Fool
Here's My Favorite Chinese Stock to Buy in September (And It's Not a BAT)
This 30-year-old insurer is one of the most innovative companies in the world.
- PR Newswire
Ping An Joins UN-supported Principles for Responsible Investment (PRI) First Asset Owner Signatory in China to the PRI
SSE: 601318) has become a signatory of the United Nations-supported Principles for Responsible Investment (PRI), the first Chinese asset owner to participate in the initiative. The PRI, initiated by former UN Secretary-General Kofi Annan, was launched on the New York Stock Exchange in 2006. It works to understand the investment implications based on three major issues of environmental, social and governance (ESG) factors.
- PR Newswire
finleap connect partners with OneConnect to bring superior technology to Europe
HONG KONG and SHENZHEN, China, Aug. 26, 2019 /PRNewswire/ -- Two leading technology providers signed a cooperation agreement in Shenzhen today. SSE: 601318), will offer its fintech software-as-a-service (SaaS) technology to the European market through finleap connect, the fintech SaaS provider of Europe's leading fintech ecosystem, finleap. Based in Shanghai, OneConnect is a leading technology-as-a-service platform for financial institutions, based on world-class technologies including artificial intelligence (AI), blockchain, cloud computing, and biometrics identification.
- Motley Fool
4 Hang Seng Index Shares Set to be Hurt by the RMB’s Depreciation
The decline in China's RMB could take a bite out of the earnings of these four Hong Kong-listed companies. Here's what investors should know.
- Reuters
Goldman Sachs, China's Ping An back artificial intelligence firm H20.ai
Goldman Sachs Group Inc, China's Ping An Global Voyager Fund and others have invested $72.5 million in H20.ai, a rapidly growing artificial intelligence startup, the companies said on Tuesday. Founded in 2012, California-based H20.ai is a software company that aims to make it easier for companies that lack the skilled workforce or time to adapt to the rapidly changing artificial intelligence landscape, Chief Executive and founder Sri Ambati said in an interview. Customers like Capital One Financial Corp, Wells Fargo & Co, Aetna and Booking.com can use H20's platform to automate model building, feature engineering and to pull valuable insights out of large amounts of the companies' proprietary data, Ambati said.
- Reuters
Ping An Insurance says Hong Kong important hub despite mass protests
HONG KONG/SHANGHAI (Reuters) - Ping An Insurance (Group) Co of China, the country's largest insurer by market value, said on Friday Hong Kong remains an important hub despite escalating mass protests, a day after it posted its strongest half-year profit growth in over a decade. Ten weeks of confrontations between police and pro-democracy groups have plunged Hong Kong into its worst crisis since it reverted from British to Chinese rule in 1997, and have presented the biggest popular challenge to Chinese President Xi Jinping in his seven years in power. "We continue to believe in Hong Kong as an important hub," said Jessica Tan, co-CEO of Ping An.
- PR Newswire
Ping An Reports Steady Growth of 23.8% in Operating Profit Attributable to Shareholders of the Parent Company in 1H 2019
Ping An achieved steady overall and core business growth for the first half of 2019 with operating profit attributable to shareholders of the parent company rising 23.8% year on year to RMB73,464 million. Benefiting from an RMB10,453 million one-off gain from a tax law change on commission expenses in the period, net profit grew 63.3% year on year to RMB105,738 million and net profit attributable to shareholders of the parent company rose 68.1% year on year to RMB97,676 million. With continuing financial sector restructuring, the Company continued to transform toward high-value businesses and improved its business portfolio.
- South China Morning Post
Ping An posts biggest jump in interim net profit since 2015, helped by a one-time tax benefit and a stock market rally in China
Ping An Insurance (Group), China's largest insurer by value, posted the biggest jump in interim net profit since 2015, bolstered by a one-time tax benefit, a stock market rally and growth in its new business units.Net income soared 68 per cent to 97.7 billion yuan in the six months ended June 30, beating the 19 per cent increased expected in a Bloomberg survey of analysts. Revenue rose 17 per cent to 690.25 billion yuan (US$98 billion), while basic earnings per share rose 23.7 per cent to 4.12 yuan.The company, established three decades ago in China's technology hub of Shenzhen, is also one of China's largest financial conglomerates, involved in a range of businesses on top of insurance, including banking, wealth management, technology, health care online lending and virtual banking. According to Forbes' 2019 Global 2000 list, Ping An is the world's seventh-largest company by capitalisation, behind Apple and ahead of Royal Dutch Shell.SCMP GraphicsThe insurer made a one-time gain of 10.45 billion yuan from tax incentives on its life and property insurance businesses, which benefited from a new tax regime that kicked in three months ago.Operating profit, a better reflection of performance as it removes one-off items, rose 24 per cent, Ping An said. Operating profit on its core insurance business rose 36.1 per cent to 48.43 billion yuan, while income from property and casualty insurance jumped 69.5 per cent o 10.03 billion yuan.SCMP Graphics"As financial macro-control tightens, China is shifting the economic focus to high-quality development," said Peter Ma Mingzhe, founding chairman and chief executive of Ping An in the result statement. "We implement our ecosystem strategy steadfastly. We develop our technology business rapidly by building open platforms for pan financial assets and pan health care."Net profit from banking rose 15.2 per cent to 15.4 billion yuan. Ping An is HSBC's second-largest shareholder, with a 7 per cent stake.Ping An's net income was helped by China's stock market rally, where the Shanghai Composite Index had jumped 19.5 per cent in the first half, as the world's sixth-biggest gaining stock index. Total net investment income doubled to 93.86 billion yuan, as a result of increasing returns on its bond investment, higher dividend income and higher valuations from its stock holdings. Its securities business rose 31 per cent to 1.25 billion yuan.Profit margin widened, as Ping An focused on developing products that were more profitable, raising its new business value by 4.7 per cent, compared with 0.2 per cent a year ago.Ping An's shares rose for the second day in four, advancing by as much as 0.4 per cent to HK$87.20 in Hong Kong before earnings were announced.The company has also been a big investor in technology, making abundant use of artificial intelligence (AI) and big data analysis to enhance its car insurance, wealth management and even health care businesses. As many as 576 million internet users make use of Ping An's online platform at the end of June, 6.9 per cent more than the start of the year, the company said.Ping An OneConnect, the financial technology arm of Ping An which was awarded a virtual bank licence by the Hong Kong Monetary Authority (HKMA) in May, plans to provide the technology to help other financial institutions in the city manage fraud and loan default risks.The online population is a resource for Ping An, helping the insurer cross sell financial products to customers. Still, the operating profit from the technology business fell 28.9 per cent to 3.27 billion yuan, Ping An said.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.
- PR Newswire
Ping An introduces doctor's AI assistant to Singapore
HONG KONG , July 23, 2019 /PRNewswire/ -- Ping An Insurance (Group) Company of China , Ltd. (hereafter " Ping An " or the "Group", HKEX: 2318; SSE: 601318) announced that Ping An Smart ...
- PR Newswire
Ping An Ranked 29th in Fortune's 2019 Global 500, Top 4 in Financial Sector
HONG KONG , July 22, 2019 /PRNewswire/ -- Ping An Insurance (Group) Company of China , Ltd. (hereafter " Ping An " or the "Group", HKEx: 2318; SSE: 601318) ranked 29th this year in ...
- Reuters
Exclusive: Ping An-backed Lufax to ditch P2P lending amid regulatory woes - sources
BEIJING/SHANGHAI (Reuters) - Lufax, one of China's largest online wealth management platforms that is backed by financial giant Ping An Insurance, plans to exit its once-core peer-to-peer lending (P2P) business, three sources with direct knowledge of the matter told Reuters. The move by Lufax to exit P2P, in which companies gather funds from retail investors and loan the money to small corporate and individual borrowers, is due to regulatory hurdles, two of the sources said, and comes amid China's crackdown on the business to contain broader financial risks. The sources said they did not know exactly when Lufax's P2P business would be shuttered, or how the outstanding business will be handled, but added that the company has already started the process of applying for a licence in consumer finance, a business which it intends to focus on.
