Ping An of China(601318.CN)

中文

Introduction

Born in Shekou, Shenzhen in 1988, Ping An Insurance company is the first joint-stock insurance company in China. So far, ping An has developed into one of the personal financial life service groups integrating insurance, banking and investment, and developing core financial and Internet financial services in parallel.

Ping an is committed to become the international leading individual financial service provider of life, adhere to the "science and technology leading financial, financial service life" concept, through the "comprehensive financial + Internet" and "Internet + comprehensive financial" two patterns, focus on "big financial assets" and "health" two big industry, insurance, banking, asset management, Internet financial four plates, for customers to create "professional, make life more simple" brand experience.

History

In 1988, ping An Insurance Company was established to operate property insurance business.

In 1994, it entered the life insurance market and introduced two foreign shareholders, Morgan Stanley and Goldman Sachs, becoming the first domestic financial institution to introduce foreign capital.

In 1995, it acquired the Pearl River Delta Financial Trust of Industrial and Commercial Bank of China and renamed it Ping An Trust.

In 1996, Ping An Securities was formally established under the name of Ping An Trust.

In 2002, the State Council approved Citic Group, Everbright Group and Ping An Group to pilot three comprehensive financial holding groups.

On October 8, 2002, HSBC group became the single largest shareholder of Ping An.

In 2003, it acquired a 73% stake in Fujian Asia Bank and changed its name to Ping An Bank.

In 2004, Ping An Group of China went public in Hong Kong as a whole, making it the largest INITIAL public offering in Hong Kong that year.

In 2005, Ping An Asset Management Co., LTD., Ping An Health Insurance and Ping An Pension insurance were established.

In May 2006, China Ping An National Operation and Management Center was put into operation in Shanghai Zhangjiang, becoming the largest centralized operation platform in Asia.

In July 2006, Ping An of China acquired Shenzhen Commercial Bank.

On March 1, 2007, Ping An Group of China was listed on the Shanghai Stock Exchange, which was then the world's largest insurance company IPO.

In 2011, holding Shenzhen Development Bank; Later, SDB absorbed and merged the former Ping An Bank, renamed it Ping An Bank, and set up ping An Dahua Fund.

In 2012, Ping An set up luFAX and began to expand its financial technology and medical technology businesses.

In 2013, Ping An International financial Leasing company, ping An Good Car, was established.

In 2014, "Ping An Hao Fang Net" was officially launched.

In 2015, "Ping An Inclusive Finance" was integrated and "Ping An Good Doctor" was launched.

In 2018, the company launched the "Three Villages Project" (village officials, village doctors and village teachers), which has been launched in nine provinces or autonomous regions.

Business

China peace through a multi-channel distribution network in a unified brand, with the aid of ping an life insurance, ping an insurance, ping an life insurance, ping an health insurance, ping an bank, ping an trust, ping an securities, ping an asset management and financial leasing companies such as safe operation three core financial insurance, banking, asset management business, with the help of Lu Jin holdings, a good doctor, financial one zhang tong, peace health science and technology, automobile companies operating financial technology and medical technology such as the home business, to provide customers a wide range of financial products and services.

At present, Ping An focuses on the development of "finance, medical care, automobile, real estate and smart city" five ecological circles, and has incubated four "unicorns", such as Lufax Holding, Financial One Account, Ping An Good Doctor and Ping An Medical Insurance Technology. In addition, various businesses of fintech and medical technology are developing rapidly.

Life insurance business is the main source of profits of the group, and the proportion of property insurance, banking, securities and trust profits is lower than that of life insurance and decreases year by year. The personal business is the main source of Ping An's profits, which increased from 58 per cent in 2015 to 85 per cent in the first half of 2018. The rapid growth of personal business comes from the improvement of the number of customers, the number of contracts per customer and the profitability of products. Remarkable achievements have been made in r&d and application. As of June 30, 2018, the number of science and technology patent applications has reached 6,121, an increase of 6.3 times compared with the end of 2016. The four core technology achievements have been widely applied.

In terms of financial service ecosystem, Ping An provides payment, wealth management and credit services to individual customers and exports fintech services to financial institutions and the government through subsidiaries such as Financial Ledger, Lufax Holdings and so on. Lufax Holding, through its subsidiaries such as Ping An Puhui, Lufax and Qfe, is committed to building a broader platform for trading financial assets. Our customers are mainly small and medium-sized financial institutions. Through "three clouds", we export fintech to help them solve five pain points of customer acquisition, product, risk, operation and technology.

In terms of medical health ecosystem, Ping An builds an O2O health management and medical service platform through "Ping An Good Doctor (online) + 10,000 clinics (offline)" at the traffic end. On the payment side, Ping An Medical Insurance Technology, as a technology-based managed medical platform, provides a package of intelligent solutions for the upstream and downstream service providers of medical insurance, commercial insurance and medical health industry and even individual users.

In terms of automobile service ecosystem, Ping An of China covers a large number of C-terminal car-related financial customers and Internet users through Autohome, Ping An Bank and Ping An Property Insurance. B terminal service providers are widely covered through automobile dealer platform, new-car second net platform, second-hand car trading platform and automobile parts platform.

Property service ecosystem, peace by peace tries to build up a good book, good room broker cloud cloud, the cloud, real estate three cloud "one network" ecological solutions, the government cloud solutions as the breakthrough point, to strengthen services, data and management ability, and the service consumer and commercial companies, building ecological chain solution for all. As of June 30, 2018, Ping An Government Cloud project has signed contracts in 29 cities and landed in 8 cities.

As for the smart city ecosystem, led by the subsidiary of Ping An Smart City, it integrates all the businesses of Ping An to build a "1+N" smart city platform system and provide a package of solutions for all aspects of urban life.

浙江医药 英威腾 泸州老窖 威孚高科 河钢股份 新洋丰 海格通信 中钨高新 *ST雅博 *ST富控 ST华鼎