Financial Performance - In the first half of 2022, the operating profit attributable to the parent company's shareholders reached RMB 85.34 billion, a year-on-year increase of 4.3%[6]. - The bank's operating income was RMB 92.02 billion, reflecting an 8.7% year-on-year growth, while net profit increased by 25.6% to RMB 22.09 billion[6]. - The company distributed an interim cash dividend of RMB 0.92 per share, an increase of 4.5% year-on-year[16]. - The net profit attributable to shareholders of the parent company was RMB 60.273 billion, up 3.9% year-on-year[28]. - The life insurance and health insurance business achieved an operating profit of RMB 58.993 billion, a year-on-year increase of 17.4%[17]. - The net profit from the banking business was RMB 22.088 billion, reflecting a 25.6% year-on-year increase[28]. - The net profit from the property insurance business decreased by 22.3% year-on-year to RMB 8.381 billion[28]. - The asset management business reported a decrease of 45.1%, with net profit dropping to RMB 4.40 billion from RMB 8.01 billion[79]. - The company’s net profit attributable to the parent company was RMB 60.27 billion, a 3.9% increase from the previous year[73]. Customer Base and Engagement - The number of individual customers exceeded 225 million, with an average of 2.95 contracts per customer, up 1.4% from the beginning of the year[6]. - The number of individual customers reached 22.516 million, with a year-on-year increase of 1.5%[41]. - The number of annual active users exceeded 342 million, with each internet user utilizing an average of 2.09 online services[42]. - Over 64% of Ping An's 225 million individual customers utilized services from the healthcare ecosystem[19]. - The registered users of the "Ping An Pocket Bank" app exceeded 140 million, with nearly 50 million users actively using online services each month[14]. - The number of registered operating users on the "Ping An Bank Digital Wallet" platform reached 10.853 million by June 30, 2022, an increase of 33.3% year-to-date[54]. Insurance and Health Services - The new business value of life and health insurance increased by 26.9%, with a 13-month policy continuation rate rising by 4.1 percentage points[6]. - The health ecosystem strategy has achieved 100% cooperation with top 100 hospitals and tertiary hospitals in China, with over 208,000 partnered pharmacies[6]. - The health insurance premium income exceeded RMB 70 billion in the first half of 2022[64]. - The customer base for the health management service "Ping An Zhenxiang RUN" reached approximately 15 million, with a customer satisfaction rate of 98%[93]. - The diabetes management service has been used by over 500,000 individuals, with 92% of users improving their blood sugar levels[68]. Technology and Innovation - The company’s technology patent applications increased by 4,674 to a total of 43,094, ranking among the top international financial institutions[8]. - The company aims to enhance customer experience through continuous technological innovation and product optimization, focusing on customer-centric strategies[49]. - The company has integrated over 50,000 internal and external doctors, with more than 10,000 cooperating hospitals in China[67]. Investment and Financial Strategy - The total investment income for the first half of 2022 is RMB 55,033 million, reflecting the impact of market volatility on investment returns[104]. - The company has implemented a disciplined and flexible investment operation to optimize asset-liability matching, focusing on long-term, low-risk bonds[148]. - The company has established a comprehensive risk management framework for corporate bonds, including asset allocation and dynamic review processes[157]. - The company has maintained a strong reinsurance policy, collaborating with nearly 100 global reinsurers to enhance underwriting capacity and mitigate operational risks[135]. Corporate Social Responsibility - The cumulative support funds for poverty alleviation and industrial revitalization reached RMB 49.72 billion[9]. - The green finance investment scale reached RMB 249.36 billion, with green banking business scale at RMB 161.73 billion[8]. - The company has established partnerships with over 100 top hospitals and 10,000 health management institutions, covering 100% of top-tier hospitals in China[62]. Operational Efficiency - The comprehensive cost ratio for the insurance business was 97.3%, an increase of 1.4 percentage points compared to the previous year[120]. - The company aims to enhance operational efficiency and service quality in the life insurance sector while controlling operational costs for sustainable high-quality development[25]. - The company is expected to improve its comprehensive cost ratio in the medium to long term due to various economic support policies and risk management measures[120].

Financial Performance - For the first quarter of 2022, the operating profit attributable to the parent company's shareholders was RMB 43.05 billion, representing a year-on-year increase of 10.0%[3] - The net profit attributable to the parent company's shareholders for the first quarter was RMB 20.66 billion, a decrease of 24.1% year-on-year, primarily due to capital market fluctuations[4] - Net profit attributable to shareholders reached RMB 27.223 billion, with a year-on-year increase of 9.4%[7] - The total operating profit was RMB 45.040 billion, reflecting a strong operational performance[7] - The net profit for the bank was RMB 12.85 billion, reflecting a year-on-year growth of 26.8%[2] - The asset management business achieved a net profit of RMB 2,914 million in Q1 2022, marking a 10.5% increase year-on-year[26] - The net profit for the three months ended March 31, 2022, was RMB 27,250 million, down from RMB 33,011 million in the same period of 2021, representing a decrease of approximately 17.0%[43] Customer Metrics - As of March 31, 2022, the number of individual customers reached 223.43 million, with an average of 2.94 contracts per customer, up 1.0% from the beginning of the year[3] - The number of individual customers increased to 223.43 million, a growth of 0.7% compared to the beginning of the year[9] - The registered user base of the "Ping An Good Car Owner" app exceeded 153 million, with over 97 million vehicles linked as of March 31, 2022[19] - As of March 31, 2022, the number of registered users for the "Jin Guanjia" app exceeded 272 million, with personalized service provided to approximately 10.9 million customers in Q1 2022[29] Insurance Premiums - The total premium income from property insurance for the first quarter was RMB 73.02 billion, a year-on-year increase of 10.3%[2] - Health insurance premium income exceeded RMB 40 billion in the first quarter of 2022[11] - Property insurance premium income reached RMB 73.018 billion in Q1 2022, reflecting a year-on-year growth of 10.3%[19] - Comprehensive financial premium scale for group customers was RMB 4.812 billion, up 9.4% year-on-year[10] Cost and Efficiency - The comprehensive cost ratio for property insurance was 96.8%, an increase of 1.6 percentage points compared to the previous year[3] - The comprehensive cost ratio rose by 1.6 percentage points to 96.8%[20] - The self-service issuance rate in property insurance operations reached 75% in March 2022, utilizing AI technology to streamline processes[29] Investment and Assets - As of March 31, 2022, the insurance fund investment portfolio reached approximately RMB 4.10 trillion, growing by 4.6% since the beginning of the year[21] - The annualized net investment yield for the first quarter of 2022 was 3.3%, while the total investment yield was 2.3%[21] - The total assets as of March 31, 2022, amounted to RMB 10,541,097 million, an increase from RMB 10,142,026 million as of December 31, 2021[45] - The company's total assets reached RMB 10,541,097 million as of March 31, 2022, up from RMB 10,142,026 million at the end of 2021, representing a growth of 3.9%[46] Shareholder Information - The total number of shareholders as of March 31, 2022, was 1,214,814, with A-shares accounting for 10,832,664,498 shares and H-shares for 7,447,576,912 shares[31] - The largest shareholder, Hong Kong Central Clearing Limited, holds 37.01% of the shares, totaling 6,765,166,356 shares[32] - The total number of participants in the core personnel stock ownership plan reached 1,703 in 2022, acquiring 12,518,547 shares for a total transaction amount of RMB 595.60 million, accounting for 0.068% of the company's total share capital[35] Challenges and Future Outlook - The company anticipates challenges in business growth due to economic pressures and uncertainties, but sees long-term opportunities in health management and digital transformation[30] - The company aims to enhance its comprehensive financial and healthcare services, responding to the increasing demand for insurance and health management[30] - The company is committed to high-quality development and actively participates in the "Healthy China" initiative, focusing on risk management and customer-centric services[30]

User Base and Customer Engagement - Internet user base increased to 64.732 million, up from 59.804 million in 2020, representing a growth of 3.928 million users or approximately 6.56%[8] - The number of individual customers reached over 2.27 billion, with 39.3% holding contracts from multiple subsidiaries[14] - The total number of individual customers exceeded 227 million by the end of 2021, representing a 4.1% increase from the beginning of the year, with 35.8% of new customers coming from internet users[29] - The number of individual customers holding contracts with multiple subsidiaries reached 89.26 million, accounting for 39.3% of total individual customers, up 1.3 percentage points from the beginning of the year[45] - Nearly 63% of individual customers utilized services from the healthcare ecosystem, with an average of 3.3 contracts per customer[22] - The average number of contracts per individual customer in the group's ecosystem reached 3.0, and the average AUM was 33,000 yuan, which is 2.3 times and 4.1 times higher than other customers, respectively[64] - The annual active user count exceeded 345 million, reflecting improved user engagement and retention[41] Financial Performance - Operating profit attributable to shareholders reached RMB 147.961 billion, a rise from RMB 139.470 billion in 2020, marking an increase of 1.491 billion or approximately 1.07%[8] - Net profit attributable to shareholders decreased to RMB 101.618 billion from RMB 143.099 billion in 2020, reflecting a decline of 41.481 billion or approximately 29%[8] - The total revenue for 2021 was RMB 1,287.68 billion, with a basic earnings per share of RMB 8.40[13] - The company achieved an operating profit attributable to shareholders of RMB 147.96 billion in 2021, representing a year-on-year growth of 6.1%[14] - The company distributed a cash dividend of RMB 2.38 per share, representing an 8.2% increase year-on-year[20] - The operating profit for the group increased by 3.6% to RMB 97.075 billion, while the operating ROE decreased to 32.3%[89] - The operating profit for life and health insurance business reached RMB 109.314 billion in 2021, a 5.2% increase from RMB 103.926 billion in 2020[107] Investment and Asset Management - Total assets grew to RMB 10,142.026 million, up from RMB 9,527.870 million in 2020, indicating an increase of 614.156 million or approximately 6.44%[8] - The total assets under management (AUM) for financial main accounts reached CNY 321.602 billion, growing by 132.2% year-on-year[36] - The net asset scale of asset custody reached CNY 7.62 trillion by the end of 2021, an increase of 31.0% compared to the beginning of the year[181] - The company's insurance fund investment portfolio reached nearly RMB 3.92 trillion, growing by 4.7% from the beginning of the year[146] - The company actively increased investments in high-quality alternative assets, particularly those with stable cash flows[148] Technology and Innovation - The technology business generated total revenue of RMB 99.27 billion in 2021, reflecting a year-on-year increase of 9.8%[14] - The company filed 7,008 new technology patent applications in 2021, bringing the total to 38,420, ranking among the top international financial institutions[25] - AI-driven product sales reached approximately RMB 275.8 billion in 2021, marking a 66% year-on-year growth[14] - The company has over 110,000 technology professionals and more than 4,500 scientists, enhancing its technological capabilities[64] - The company is committed to digital transformation, enhancing marketing, service, and risk control through innovative technology applications[102] Insurance and Risk Management - The comprehensive solvency adequacy ratio for property insurance business was 278.4%, up from 241.4% in 2020, indicating an increase of 37 percentage points[8] - The claims and policyholder benefits for 2021 amounted to RMB 444,096 million, a decrease from RMB 461,753 million in 2020, reflecting a decline of about 3.8%[116] - The company achieved an underwriting profit of RMB 5.136 billion in 2021, representing a year-on-year increase of 145.7%[121] - The overall combined ratio improved by 1.1 percentage points to 98.0% in 2021[123] - The company aims to enhance risk management and promote high-quality reforms in the life insurance sector to adapt to external challenges[79] Banking Operations - Ping An Bank achieved an operating income of RMB 169.38 billion, a year-on-year growth of 10.3%, and a net profit of RMB 36.34 billion, up 25.6% year-on-year[24] - The non-performing loan ratio for Ping An Bank was 1.02%, a decrease of 0.16 percentage points from the beginning of the year[167] - The bank's cost-to-income ratio was 28.30%, a decrease of 0.81 percentage points year-on-year[168] - The retail customer asset under management (AUM) reached CNY 3,182.634 billion, a growth of 21.3% compared to the beginning of 2021[167] - The bank's capital adequacy ratio stood at 8.60%, slightly down from 8.69% in the previous year[169] Challenges and Future Outlook - The overall economic environment remains challenging, with pressures on consumer spending and economic growth, impacting the long-term insurance business[79] - The company aims to deepen the integration of "finance + technology" and "finance + healthcare" to enhance service quality and efficiency in 2022[27] - The company is focusing on channel and product reforms, enhancing agent channel transformation and exploring innovative community-based channels[87] - The company aims to optimize its product system by enhancing competitive offerings in both protection and savings products[95] - The company plans to continue promoting green finance actions to support ecological civilization development in 2022[27]

Financial Performance - The operating profit attributable to the parent company's shareholders for the first half of 2020 reached CNY 74.31 billion, a year-on-year increase of 1.2%, with an annualized operating ROE of 21.6%[7]. - The bank's operating income for the first half of 2020 was CNY 78.33 billion, reflecting a year-on-year growth of 15.5%[7]. - Total revenue for the first half of 2020 was RMB 683,280 million, slightly down from RMB 690,246 million in the same period of 2019[8]. - The net profit attributable to the parent company's shareholders for the same period was RMB 68.68 billion, a year-on-year decrease of 29.7%[22]. - The company’s basic earnings per share for the first half of 2020 was RMB 4.20, an increase of 1.9% year-on-year[58]. - The total net profit for the group was RMB 75.968 billion, with a basic earnings per share of RMB 4.20, reflecting a year-on-year growth of 29.7%[60]. - The company reported a total of 20.962 million customers across various insurance and financial products, reflecting a 4.6% increase from the end of 2019[30]. Insurance Business Performance - The life and health insurance business generated an operating profit of CNY 51.54 billion in the first half of 2020, reflecting a growth of 6.4%[7]. - The operating profit attributable to the parent company's shareholders for the life and health insurance business was RMB 51.127 billion, representing a year-on-year increase of 6.6%[60]. - The new business value of life and health insurance for the first half of 2020 was RMB 41,052 million, compared to RMB 4.12 million in the same period of 2019[9]. - The new business value for the life and health insurance segment was RMB 31.031 billion, down 24.4% year-on-year, with a new business value rate decrease of 8.0 percentage points[69]. - Total premium income for life and health insurance decreased to RMB 301,127 million, down 4.6% from RMB 315,774 million[88]. Customer Growth and Engagement - As of June 30, 2020, the number of individual customers reached 210 million, an increase of 4.6% from the beginning of the year, with 18.09 million new customers added in the first half, 35.4% of whom came from the group's five major ecosystems[7]. - The registered user count for the "Ping An Good Driver" app exceeded 109 million, marking a growth of 17.8% since the beginning of the year[7]. - The number of internet users reached 560 million, an increase of 8.7% from the beginning of the year, with 510 million app users, up 8.5%[32]. - The number of individual customers who are also internet users reached 185 million, a growth of 6.2% from the beginning of the year[32]. Technology and Innovation - The company has filed a total of 26,008 technology patents as of June 30, 2020, an increase of 4,625 patents since the beginning of the year[8]. - The company continues to enhance its technology investments to support its "Finance + Ecosystem" strategy, aiming to optimize customer acquisition channels and service efficiency[5]. - The company’s technology patent applications totaled 26,008 by June 30, 2020, an increase of 4,625 from the beginning of the year, ranking first globally in fintech patent applications for two consecutive years[15]. - The company’s AI technology enabled an average daily productivity of 131.3 times per person for human agents, up 15% from 114.5 times per person in the same period last year[48]. COVID-19 Response - The company provided a total of over RMB 1.75 billion in cash and material donations in response to the COVID-19 pandemic[8]. - The company implemented online transformation measures to mitigate the impact of the pandemic on operations[60]. - During the pandemic, the company provided free employee insurance coverage for approximately 500,000 small and micro enterprises, with a total coverage amount of RMB 100 million per enterprise[103]. Investment and Asset Management - The company’s investment return rate for life and health insurance business was locked at 5% after excluding short-term investment fluctuations[60]. - The total investment income for the first half of 2020 was RMB 85,899 million, a decrease of 16.3% year-on-year[136]. - The company's bond investment scale reached RMB 116,432 million, accounting for 3.4% of total investment assets, down 0.6 percentage points from the beginning of 2020[138]. - The average investment assets increased to RMB 298,591 million, reflecting an 11.5% growth from RMB 267,877 million in the previous year[104]. Banking Performance - Ping An Bank achieved an operating income of CNY 78.33 billion in the first half of 2020, reflecting a year-on-year growth of 15.5%[145]. - Net profit for the first half of 2020 was RMB 13.678 billion, representing a year-on-year decline of 11.2%[149]. - The non-performing loan ratio for Ping An Bank remained stable at 1.65% as of June 30, 2020, with a significant increase in provision coverage ratios[145]. - The retail business revenue for Ping An Bank reached CNY 43.35 billion, growing by 12.3% year-on-year, with retail customer assets under management increasing by 17.1%[145]. Challenges and Strategic Focus - The company faced challenges due to the COVID-19 pandemic, including disruptions to offline business and increased credit risk, which impacted new business growth rates[60]. - The company is focusing on value-driven management and reducing short-term savings products with high continuation rates[78]. - The company is implementing differentiated risk management strategies to enhance customer quality and risk identification[165].

Strategic Transformation and Ecosystems - Ping An continues to push forward with its "Finance + Technology" and "Finance + Ecology" strategic transformation, focusing on five major ecosystems: financial services, healthcare, automotive services, real estate services, and smart cities[6]. - The company emphasizes high-quality asset management and stable investment strategies, aiming for deep transformation in financial services and achieving "four modernizations"[7]. - Ping An is committed to social responsibility initiatives, including the "Three Villages Poverty Alleviation Project" and other public welfare efforts[7]. - The company aims to leverage its financial strength and technological intelligence to serve customers, reward shareholders, and contribute to society and the nation[7]. - Ping An's future outlook includes a commitment to sustainable development and continuous innovation in its service offerings[6]. Financial Performance - The total revenue for 2019 reached RMB 1,273,091 million, representing a growth of 17.6% compared to 2018[14]. - The operating profit attributable to shareholders was RMB 132,955 million in 2019, an increase of 18.1% from RMB 112,573 million in 2018[14]. - The basic earnings per share rose to RMB 7.48 in 2019, reflecting an 18.5% increase from RMB 6.31 in 2018[14]. - The intrinsic value increased to RMB 1,200,533 million in 2019, a growth of 19.8% from RMB 1,002,456 million in 2018[14]. - The net profit attributable to shareholders was RMB 149,407 million in 2019, up from RMB 107,404 million in 2018[8]. Customer Growth and Engagement - The number of individual customers increased by 11.2% year-on-year, reaching 200 million, with 36.57 million new customers added, 40.7% of whom came from the group's five major ecological circles[15]. - The number of internet users reached 515.5 million in 2019, up from 443.59 million in 2018[8]. - The average number of contracts per customer rose to 2.64, reflecting a 3.9% increase compared to the beginning of the year[36]. - The number of APP users grew to 470 million, a 17.8% increase from the beginning of the year[32]. - The number of active users reached 282 million, indicating a strong engagement with the internet services offered[32]. Technology and Innovation - The company’s technology patent applications totaled 21,383, an increase of 9,112 from the beginning of the year, ranking among the top international financial institutions[19]. - The group aims to enhance its technological capabilities and expand application scenarios, focusing on financial technology and medical technology advancements[23]. - The company continues to focus on a "one-stop service" model to enhance user experience and service scenarios[32]. - The intelligent underwriting platform achieved a risk interception accuracy rate of 90.8%, with 96% of insurance applicants experiencing rapid underwriting without disturbance, reducing processing time from 3.8 days to 10 minutes[76]. - The company plans to continue leveraging technology to drive business transformation and improve customer experience[45]. Investment and Asset Management - The total investment income for 2019 was RMB 174.682 billion, compared to RMB 79.384 billion in 2018, indicating a substantial increase[85]. - The total investment return rate for the property insurance business was 6.6% in 2019, up by 2.2 percentage points year-on-year, with total investment income increasing by 63.2%[117]. - The investment asset total reached RMB 3,208,836 million in 2019, compared to RMB 2,794,620 million in 2018[124]. - The net investment income for 2019 was RMB 144,050 million, a 13.7% increase from RMB 126,707 million in 2018[128]. - The company actively adjusted its equity asset allocation to mitigate the impact of market volatility[122]. Corporate Governance and Accountability - Ping An's governance structure includes a comprehensive report on board members, supervisors, and senior management personnel, ensuring transparency and accountability[4]. - The company has implemented a share buyback program amounting to RMB 5 billion for the first time[56]. - The company recognized a one-time impact on income tax expenses due to a reduction in tax payable from a policy announcement in May 2019, which affected the 2018 tax settlement[61]. - The company’s effective tax rate decreased significantly due to new tax policies, impacting the income tax expense for 2019 positively[96]. - The solvency ratio for the group was 229.8% in 2019, compared to 216.4% in 2018[8]. Retail Banking and Financial Services - Ping An Bank achieved operating revenue of RMB 137.96 billion, a year-on-year increase of 18.2%, and net profit of RMB 28.20 billion, up 13.6% year-on-year[137]. - Retail business operating revenue rose to RMB 79.97 billion, a 29.2% increase, accounting for 58.0% of total revenue, while retail net profit increased by 13.8% to RMB 19.49 billion, representing 69.1% of total net profit[144]. - The non-performing loan ratio improved to 1.65%, down 0.10 percentage points from the beginning of the year, with a provision coverage ratio of 183.12%, up 27.88 percentage points[139]. - The bank's strategy focuses on becoming a leading intelligent retail bank in China, emphasizing technology, retail breakthroughs, and precision in corporate services[136]. - The transaction amount of Ping An Bank's internet payment and settlement services reached CNY 4.18 trillion, a year-on-year growth of 64.5%[151]. Insurance Business Performance - The total premium income for life and health insurance business reached RMB 611.637 billion in 2019, an increase from RMB 570.523 billion in 2018, representing a growth of 7.2%[85]. - Claims and policyholder benefits totaled RMB 445.775 billion in 2019, up from RMB 323.494 billion in 2018, marking a significant increase of 37.9%[89]. - The total premium income from property insurance business reached RMB 270.93 billion in 2019, a growth from RMB 247.44 billion in 2018[110]. - The operating profit from life and health insurance business was CNY 88.950 billion, reflecting a year-on-year growth of 24.7%[67]. - The original insurance premium income for property insurance was RMB 270.930 billion in 2019, representing a growth of 9.5% compared to the previous year[99].

Company Strategy and Vision - The company aims to become an "internationally leading technology-driven personal financial service group" focusing on "finance + technology" and "finance + ecology" strategies[8]. - In 2019, the company plans to enhance its services by promoting "technology empowering finance, technology empowering ecology, and ecology empowering finance" to provide better customer service[8]. - The company reported a significant focus on the integration of innovative technology in the financial services, healthcare, automotive, real estate, and smart city ecosystems[8]. - The company emphasizes survival through competition and development through innovation as key operational strategies[8]. - The company aims to leverage technology in financial services and expand into healthcare and smart city ecosystems[11]. - The company plans to enhance its integrated financial services model to serve 184 million personal customers and 538 million internet users[11]. Financial Performance - Operating profit attributable to shareholders reached RMB 112.57 billion, a 19% increase from RMB 94.71 billion in 2017[9]. - Basic earnings per share increased to RMB 6.31, compared to RMB 5.31 in 2017, marking a growth of 18.8%[9]. - Return on equity (ROE) for the group was 21.9%, slightly down from 22.0% in 2017[9]. - The solvency ratio for the group was 216.4%, up from 214.9% in 2017, indicating strong financial stability[9]. - The total revenue for 2018 was RMB 1,082.146 billion, an increase of 11.0% compared to 2017[30]. - The net profit attributable to shareholders reached RMB 107.404 billion in 2018, reflecting a year-on-year growth of 20.6%; the ROE was 20.9%[66]. Customer Growth and Engagement - The number of personal customers reached 183.96 million, an increase from 165.73 million in 2017, representing a growth of 10.4%[9]. - The average operating profit per customer rose to RMB 531.25, up from RMB 449.69 in 2017, a growth of 18.1%[9]. - The number of individual customers reached 184 million, growing by 11.0% year-on-year, with 40.78 million new customers added during the year[33]. - The average number of contracts per customer increased by 9.1% to 2.53 contracts, with 63.64 million individual customers holding contracts from multiple subsidiaries, accounting for 34.6% of total customers[42]. Technology and Innovation - The company has filed a total of 12,051 technology patents, ranking among the top international financial institutions[31]. - The company’s technology-driven initiatives led to the establishment of five major ecosystems, significantly enhancing profit contributions from the technology sector[23]. - Ping An's facial recognition technology has an accuracy rate of 99.8%, and voiceprint recognition technology can reach 99.7% accuracy[53]. - The company has established a global blockchain platform serving over 200 banks and 200,000 enterprises, with more than 44,000 blockchain nodes[54]. - Ping An Cloud supports core business operations with a trillion-level asset scale and has over 400 cloud technology patent applications[55]. Investment and Financial Technology - The company invested over CNY 5 billion in poverty alleviation projects, directly benefiting over 15,000 impoverished households[24]. - The company’s fintech platform, Lufax, achieved a post-investment valuation of USD 39.4 billion following a new round of financing[24]. - The company aims to enhance its digital operations and intelligent risk management capabilities while continuing to invest in technology to support its "Finance + Ecosystem" strategy[25]. Insurance Business Performance - The life and health insurance business generated an operating profit of CNY 71.345 billion, a year-on-year increase of 35.1%, while the new business value reached CNY 72.294 billion, up 7.3% year-on-year[23]. - The new business value in life and health insurance was RMB 72.29 billion, up from RMB 67.36 billion in 2017, reflecting a growth of 2.86%[9]. - The operating profit from the personal business segment was RMB 97.729 billion, accounting for 86.8% of the group's total operating profit, with a year-on-year growth of 31.1%[33]. Risk Management and Compliance - The company has a robust risk management framework to address various market uncertainties and regulatory changes[6]. - The company has established a scientific asset allocation model to manage risks effectively, ensuring that overall risk remains within the company's established risk appetite[129]. Corporate Social Responsibility - The company is committed to supporting poverty alleviation and rural development initiatives through its "Three Villages Smart Poverty Alleviation" program[8]. - Ping An has invested 1% of its revenue annually in technology research and development, significantly increasing its R&D input[50].