Investment Rating - The investment rating for Ping An is "Buy" with a target price of RMB 70 (A shares) and HKD 69 (H shares) [7][11]. Core Views - The consolidation of Lufax into Ping An's financial statements is expected to have a minimal impact on Ping An's net assets. The earnings per share (EPS) forecasts for 2024, 2025, and 2026 are RMB 7.58, RMB 7.99, and RMB 8.24 respectively [2][4]. - The increase in Ping An's stake in Lufax from 41.40% to 56.82% enhances its control and may lead to closer collaboration between the two entities [2][3]. - Lufax's special dividend announcement led to a significant increase in its stock price, reflecting investor interest [3]. Summary by Sections Financial Performance - In Q1 2024, Ping An reported an EPS of RMB 2.07, a year-on-year decline of 4.6%, primarily due to weaker investment performance. However, the new business value (NBV) for life insurance grew robustly, increasing by 20.7% year-on-year, driven by improved profit margins [5]. - The combined ratio (COR) for property insurance reached 99.6% in Q1 2024, indicating a historically high level, influenced by credit guarantee insurance and natural disasters [5]. Valuation Methodology - The valuation of Ping An employs a three-stage DCF model, with the first three years providing clear forecasts, followed by a defensive period of ten years, and a long-term phase of thirty-seven years. The target price is based on the average of intrinsic value and book value methods [11][12]. Key Financial Metrics - Projected gross premium income for 2024 is RMB 585.81 billion, reflecting a 9.20% increase from 2023. Total investment income is expected to rise significantly to RMB 93.69 billion in 2024, marking a 181.16% increase from the previous year [6][17]. - The projected net profit for 2024 is RMB 132.29 billion, representing a 54.42% increase compared to 2023 [6][17].

香港交易及結算所有限公司及香港聯合交易所有限公司對本聯合公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本聯合公告全部或任何部分內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 本聯合公告僅供參考，並不構成收購、購買或認購陸金所證券的邀請或要約，亦並非在任何司 法管轄區徵集任何表決或批准。本聯合公告不得在任何司法管轄區發佈、刊載或派發，否則將 構成違反該司法管轄區的相關法律。 倘本聯合公告所提述陸金所要約在美國作出，則是由聯合要約人直接作出。本聯合公告所提述 由摩根士丹利代表聯合要約人作出的陸金所要約應據此詮釋。 （於中華人民共和國註冊成立之股份有限公司） 股份代號：2318（港幣櫃台）及 82318（人民幣櫃台） 安科技術有限公司 （於香港註冊成立的有限公司） 中國平安保險海外（控股）有限公司 （於香港註冊成立的有限公司） 聯合公告 Lufax Holding Ltd 陸金所控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6623） （紐交所股票代碼：LU） (1) 摩根士丹利為及代表聯合要約人作出可能的強制性無條件現金要約 （由選擇陸金所特別股息觸發） ...

证券代码：601318 证券简称：中国平安 公告编号：临 2024-033 中国平安保险（集团）股份有限公司 关于陆金所控股有限公司纳入合并报表范围 的提示性公告 中国平安保险（集团）股份有限公司（以下简称"本公司"）董事会及全体董事保 证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真 实性、准确性和完整性承担法律责任。 截至本公告日，本公司通过全资子公司 An Ke Technology Company Limited （以下简称"安科技术"）及 China Ping An Insurance Overseas (Holdings) Limited （以下简称"平安海外控股"）合计持有陆金所控股有限公司（以下简称"陆金所"， 系一家在开曼群岛注册成立的有限公司，于美国纽约证券交易所（股票代码：LU） 及香港联合交易所有限公司（股票代码：6623）上市）41.40%的股权。 根据陆金所自 2024 年 3 月 21 日起于香港交易及结算所有限公司网站 （www.hkexnews.hk）刊载的系列公告，陆金所股东大会批准其从储备的股份溢 价账中宣派及派发特别股息（以下简称"特别股息计划"） ...

表决结果：赞成 13 票、反对 0 票、弃权 0 票 特此公告。 中国平安保险（集团）股份有限公司董事会 证券代码：601318 证券简称：中国平安 公告编号：临 2024-032 中国平安保险（集团）股份有限公司 第十三届董事会第二次会议决议公告 中国平安保险（集团）股份有限公司（以下简称"本公司"）董事会及全体董事 保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的 真实性、准确性和完整性承担法律责任。 本公司第十三届董事会第二次会议（以下简称"会议"）通知于 2024 年 7 月 2 日发出，会议于 2024 年 7 月 3 日以书面传签方式召开。会议应参与投票董 事 13 人，实际参与投票董事 13 人，会议有效行使表决权票数 13 票。会议的召 集、召开程序符合《中华人民共和国公司法》和《中国平安保险（集团）股份有 限公司章程》的相关规定，会议合法、有效。 会议审议通过了《关于根据香港〈公司收购及合并守则〉刊发联合公告的议 案》。联合公告的具体内容请见本公司于同日刊载于上海证券交易所网站 （www.sse.com.cn）的《中国平安保险（集团）股份有限公司 H 股公告》。 202 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2024年6月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中国平安保险（集团）股份有限公司 呈交日期: 2024年7月3日 | 2. 股份分類 | 普通股 | | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02318 | | 說明 | H股 | | | | | | | | 多櫃檯證券代號 | 82318 | RMB | 說明 | | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | | 7,447,576,912 | RMB | | 1 | RMB | | 7,447,576,912 | | 增加 / 減少 (-) | | | | | | | | RMB | | | | 本月底結存 | | | | 7,447 ...

Core Insights - The aging population in China presents significant business opportunities for the financial services industry, particularly in senior care, which is currently fragmented and lacks unified standards [1][10] - China is experiencing aging before achieving high income levels, with a low retirement replacement ratio and insufficient awareness of financial planning for senior care [2][9] - The demand for personalized wealth management solutions, including capital preservation and appreciation, is expected to grow as life expectancy increases [3][9] Company Overview - Ping An Insurance is one of the largest financial services companies globally, aiming to provide integrated finance, health, and senior care services [7][8] - The company has a customer base of 234 million retail clients and is leveraging technology to enhance service quality and efficiency [7][11] - As of the end of 2023, Ping An reported total assets of RMB 11,583.417 million and ranked 29th in the Forbes Global 2000 list in 2024 [7] Senior Care Services - 90% of seniors in China prefer home-based care, and Ping An offers a comprehensive suite of services, including an online diagnostic platform and a 24/7 concierge service [5][15] - The company integrates over 100 suppliers to provide a wide range of in-home care services, with more than 80,000 customers currently benefiting from these services [5][11] - Technological advancements, such as AI-driven concierge services, are being utilized to improve the efficiency and quality of home care [6][17] Market Challenges - The senior care and healthcare services sector in China is still developing, facing challenges such as service fragmentation, uneven quality, and lack of unified standards [10][12] - The insurance industry is recognizing the need for diversified and customized wealth management products tailored to seniors' specific lifecycle needs [9][12] Technological Integration - Ping An possesses one of the world's largest healthcare databases, which is utilized for various applications, including health insurance underwriting and claims processing [17] - The integration of financial data with senior care services is seen as a way to enhance service delivery and meet customer needs more effectively [12][17]

承董事會命 盛瑞生 公司秘書 中國平安保險（集團）股份有限公司（「本公司」及其附屬公司「本集團」）董事會（「董 事會」）兹通告謹定於二零二四年八月二十二日（星期四）舉行董事會會議，以考慮及 通過本集團截至二零二四年六月三十日止六個月之中期業績、派發中期股息（如有）， 以及處理任何其他事項。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 董事會召開日期 中國深圳，2024年6月27日 於本公告日期，本公司的執行董事為馬明哲、謝永林及蔡方方；非執行董事為謝吉人、楊小平、何 建鋒及蔡潯；獨立非執行董事為伍成業、儲一昀、劉宏、吳港平、金李及王廣謙。 ...

Group 1 - Ping An Asset Management Co., Ltd. (PAAMC) is ranked 33rd in the world and 3rd in Asia in the Top 500 Asset Managers 2024 list by Investment & Pensions Europe (IPE), improving three spots from the previous year [4] - There are 52 Chinese asset management companies included in this year's IPE ranking, with a total Assets Under Management (AUM) of RMB72.4 trillion as of the end of 2023, indicating strong growth in China's asset management industry [5] - PAAMC had RMB5.03 trillion in AUM as of December 31, 2023, and offers diversified one-stop investment management solutions to both domestic and overseas clients [7][8] Group 2 - PAAMC was established in 2005 and is one of the first insurance asset management companies approved by the National Financial Regulatory Administration [7] - The company has been on the IPE list for five consecutive years and has maintained a position in the top 50 for four consecutive years [8] - PAAMC became a signatory of the UN-supported Principles for Responsible Investment (PRI) in the Investment Manager category in 2023 [8]

现将本公司 2024 年度长期服务计划的购股进展公告如下： 截至本公告日期，本公司 2024 年度长期服务计划尚未实施购股。本公司后 续将根据 2024 年度长期服务计划实施方案完成股票购买，并及时履行信息披露 义务。 证券代码：601318 证券简称：中国平安 公告编号：临 2024-031 中国平安保险（集团）股份有限公司 关于 2024 年度长期服务计划购股进展的公告 中国平安保险（集团）股份有限公司（以下简称"本公司"）董事会及全体董事 保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的 真实性、准确性和完整性承担法律责任。 本公司第十二届董事会第二十二次会议审议通过了《关于审议 2024 年度长 期服务计划参与情况的议案》（以下简称"2024 年度长期服务计划"）。 特此公告。 中国平安保险（集团）股份有限公司董事会 2024 年 6 月 21 日 ...

Core Insights - Ping An Insurance has upgraded its "Ping An Family Doctor" brand to provide a one-stop, proactive health management services system, focusing on chronic disease control and full disease management [1][10][11] Company Overview - Ping An Insurance (Group) Company of China, Ltd. is one of the largest financial services companies globally, with total assets of RMB 11,583.417 billion as of the end of 2023 [7][8] - The company ranked 29th in the Forbes Global 2000 list in 2024 and 33rd in the Fortune Global 500 list in 2023 [7] Health Services Development - The upgraded health management system includes a team of certified family doctors, a 5A standard service process, tailored health management services, and access to 12 scarce medical resources [4][11] - As of 2023, nearly 13 million users held family doctor memberships, with over 98% satisfaction in medical consultation services [3][11] Strategic Focus - Ping An Health aims to consolidate its family doctor service system as its primary business segment, focusing on proactive health management solutions to meet the public's growing medical needs [7][10] - The company plans to invest significantly in the health and senior care ecosystem and strengthen partnerships with financial and corporate clients for stable expansion [7][10] Technological Integration - Ping An Health has developed five significant medical databases and an innovative multimodal medical large language model (LLM) to enhance health management processes [12] - The integration of healthcare and insurance services has proven successful, with over 20 million Ping An Life insurance customers also utilizing Ping An's healthcare services in 2023, achieving a 99% service satisfaction rate [13][15]