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 年度核 心人员持股计划参与情况的议案》（以下简称"2024 年度核心人员持股计划"）及 《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"，与"2024 年度核心人员持股计划"合称"实施方案"）。 现将本公司 2024 年度核心人员持股计划及 2024 年度长期服务计划的购股 进展公告如下： 证券代码：601318 证券简称：中国平安 公告编号：临 2024-024 中国平安保险（集团）股份有限公司 关于 2024 年度核心人员持股计划及 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 2024 年度核心人员持股计划于 2024 年 5 月 13 日至 2024 年 5 月 16 日通过二级市场购得本公司 A 股股票（股票代码：601318.SH）3,724,800 股，占 本公司总股本的比例为 0.020%，成交金额 ...

证券代码：601318 证券简称：中国平安 公告编号：临 2024-023 中国平安保险（集团）股份有限公司 关于参加 2023 年年度股东大会的提示性公告 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。 本公司定于 2024 年 5 月 30 日 14:00 于中国广东省深圳市观澜泗黎路 402 号平 安（深圳）金融教育培训中心平安会堂召开本公司 2023 年年度股东大会（以下简 称"本次股东大会"）。本次股东大会的具体安排请见本公司于 2024 年 4 月 27 日 在上海证券交易所网站（www.sse.com.cn）发布的《中国平安保险（集团）股份有 限公司关于召开 2023 年年度股东大会的通知》。 为提高本次股东大会服务质量，现就本公司 A 股股东参加本次股东大会登记方 法提示如下： (一)登记方式 本次股东大会的股权登记日为 2024 年 5 月 22 日，当日收市后在中国证券登记 结算有限责任公司上海分公司登记在册的本公司 A 股股东有权出席本次股东大会， 并可以 ...

Investment Rating - The report maintains a "Buy" rating for the company [1][3]. Core Views - The recent relaxation of real estate policies by the central bank is expected to positively impact the company's valuation and performance, positioning it as a strong option for investing in financial stocks [2][3][25]. - The company is not only a leader in the insurance sector but also a comprehensive financial group that stands to benefit significantly from the current real estate policy changes [2][3][25]. Summary by Sections Earnings Forecast and Valuation - The forecasted net profit attributable to shareholders for 2024-2026 is projected to be 120.38 billion, 154.12 billion, and 162.21 billion yuan, with year-on-year growth rates of 40.5%, 28.0%, and 5.2% respectively [1][3]. - The estimated embedded value per share is expected to rise from 76.34 yuan in 2023 to 83.19 yuan in 2024 [1][3]. Market Data - The closing price of the stock is 45.20 yuan, with a market capitalization of approximately 823.1 billion yuan [4]. - The price-to-book ratio stands at 0.91 [4]. Basic Data - The company's total assets have a debt-to-asset ratio of 89.63% [5]. - The total number of shares is approximately 18.21 billion [5]. Real Estate Exposure Analysis - As of the end of 2023, the company's real estate-related investments in the insurance segment amounted to 204 billion yuan, accounting for 4.3% of total investment assets [2][9]. - The bank's real estate-related credit exposure was approximately 284.2 billion yuan, reflecting a decrease from the previous year [12][13]. Investment Recommendations - The report suggests that the recent real estate policy changes will help narrow the decline in real estate sales and investments, leading to an improvement in the asset quality of insurance companies [2][25]. - The company is viewed as a strong bullish option in the financial sector, with expectations of valuation recovery driven by the recent policy changes [2][25].

证券代码：601318 证券简称：中国平安 公告编号：临 2024-022 中国平安保险（集团）股份有限公司 保费收入公告 中国平安保险（集团）股份有限公司董事会 2024 年 5 月 15 日 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。 根据中华人民共和国财政部《企业会计准则解释第 2 号》以及《保险合同相 关会计处理规定》，本公司如下子公司于 2024 年 1 月 1 日至 2024 年 4 月 30 日 期间的原保险合同保费收入为： | | | 2024 年 | 1-4 月 | | --- | --- | --- | --- | | 子公司名称 | 原保险合同保费收入 | | 同比 | | | （人民币万元） | | （%） | | 中国平安财产保险股份有限公司 | 10,352,876 | | 3.1 | | 中国平安人寿保险股份有限公司 | 21,215,526 | | 1.9 | | 平安养老保险股份有限公司 | 814,456 | | -0.8 | | 平安健 ...

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4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5月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 601318 | 說明 | A股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,762,657,695 | RMB | | 1 | RMB | | 10,762,657,695 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 10,762,657,695 | RMB | | 1 | RMB | | 10,762,657,695 | | 2. ...

Investment Rating - The report maintains a "Buy" rating for China Ping An (601318) [2] Core Views - The overall performance is in line with expectations, with a 4.3% year-on-year decline in net profit attributable to shareholders, primarily due to the technology, asset management, and property insurance sectors [2] - The OPAT decreased by 3% year-on-year, influenced by a high base from the previous year, capital market fluctuations, and small and micro enterprise credit business [2] - The NBV saw a significant increase of 20.7% year-on-year on a retrospective basis, driven by improvements in productivity and value rate [2] Summary by Sections Performance Overview - In Q1 2024, net profit attributable to shareholders was 36.7 billion yuan, down 4.3% year-on-year, mainly affected by technology (-107%), asset management (-30%), and property insurance (-14%) [2] - OPAT decreased by 3% year-on-year, with life and health insurance segments showing a slight increase of 2.2% due to asset scale growth and operational deviations [2] - The retrospective NBV growth of 20.7% was attributed to enhanced productivity and value rates [2] Life Insurance - The agency channel's per capita NBV increased by 56.4%, benefiting from improved sales capabilities and product structure adjustments [2] - The number of agents decreased by 4% from the beginning of the year to 333,000, which may limit sustainable business growth [2] - The first-year new business decreased by 13.6% due to regulatory policies and high base effects, but the overall value growth remains promising with a 6.5 percentage point increase in value rate [2] Property Insurance - Property insurance premium income grew by 2.8% year-on-year, with auto insurance growth slowing down [2] - The combined operating ratio (COR) increased by 0.9 percentage points to 99.6%, primarily due to claims from snow disasters and guarantee insurance [2] - Excluding guarantee insurance, the overall COR was 98.4%, with expectations for gradual improvement in the coming quarters [2] Investment Income - The annualized net investment return rate fell to 3.0%, mainly due to declining interest rates affecting asset yields [2] - The annualized comprehensive investment return rate decreased to 3.1%, influenced by equity market volatility [2] - Estimated non-bank business interest income and investment returns decreased by 3.3% year-on-year [2] Investment Recommendations - Short-term new business sales face growth pressure due to high base effects, but value rate improvements alleviate concerns about value growth [2] - Asset-side risks, particularly in real estate, remain a core valuation pressure, though trends indicate potential alleviation with economic recovery [2] - The report adjusts EPS forecasts for 2024, 2025, and 2026 to 5.57, 6.12, and 7.10 yuan, respectively, while maintaining the "Buy" rating [2]

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [2] Core Views - The report highlights a significant increase in the dividend rate and substantial growth in comparable net new business value (NBV) [2][7] - The company's first-quarter performance shows a slight decline in net profit but a notable increase in NBV, indicating strong operational resilience [5][6] Summary by Sections Financial Performance - In Q1 2024, the company's net profit attributable to shareholders was 36.7 billion yuan, a year-on-year decrease of 4.3% [5] - The operating profit attributable to shareholders was 38.7 billion yuan, down 3.0% year-on-year, with life and health insurance operating profit increasing by 2.2% [5] - The NBV reached 12.9 billion yuan, showing a year-on-year increase of 20.7% on a comparable basis [5] Life Insurance Segment - The first-year premium used to calculate NBV decreased by 13.6% year-on-year, while the comparable NBV increased by 20.7% [6] - The NBV margin on a comparable basis rose by 6.5 percentage points to 22.8%, driven by improved product structure and increased product value rates [6] - The number of life insurance agents at the end of Q1 was 333,000, a decrease of 4.0% from the beginning of the year, but the quality of the agent team continued to improve [6] Property and Casualty Insurance Segment - The property and casualty insurance premium increased by 2.8% year-on-year, with the combined cost ratio rising to 99.6% due to adverse weather conditions and increased travel [6] Investment Performance - The annualized net investment yield for Q1 2024 was 3.0%, a decrease of 0.1 percentage points year-on-year [6] - The company's investment assets exceeded 4.93 trillion yuan, an increase of 4.4% from the beginning of the year [6] Valuation - The report indicates that the company's valuation remains low, with a target price range of 53.03 to 57.11 yuan based on a projected PEV of 0.65-0.7 times for 2024 [7]

中国平安保险（集团）股份有限公司 2023 年年度股东大会资料 2024 年 5 月 30 日 深圳 1 中国平安保险（集团）股份有限公司 2023 年年度股东大会议程 现场会议时间：2024 年 5 月 30 日 14:00 开始 现场会议地点：中国广东省深圳市观澜泗黎路 402 号平安（深圳）金融教育培训 中心平安会堂 网络投票时间：采用上海证券交易所网络投票系统，通过交易系统投票平台的投 票时间为股东大会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00； 通过互联网投票平台的投票时间为 2024 年 5 月 30 日 9:15-15:00。 主持人：董事长马明哲 议程内容 一、宣布会议开始及会议议程 二、议案名称 （一）非累积投票方式（普通决议案）： （二）非累积投票方式（特别决议案）： （三）累积投票方式（普通决议案）： 12、 审议及批准《关于选举第十三届董事会独立董事的议案》 2 1、 审议及批准《公司 2023 年度董事会报告》 2、 审议及批准《公司 2023 年度监事会报告》 3、 审议及批准公司 2023 年年度报告及摘要 4、 审议及批准《公司 ...

证券代码：601318 证券简称：中国平安 公告编号：临 2024-021 中国平安保险（集团）股份有限公司 关于召开 2023 年年度股东大会的通知 中国平安保险（集团）股份有限公司（以下简称"本公司"或"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。 重要内容提示： 一、 召开会议的基本情况 (一)股东大会类型和届次：2023 年年度股东大会 召开的日期时间：2024 年 5 月 30 日 14 点 00 分 召开地点：中国广东省深圳市观澜泗黎路 402 号平安（深圳）金融教育培训 中心平安会堂 (五)网络投票的系统、起止日期和投票时间 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 5 月 30 日至 2024 年 5 月 30 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互联 网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (六)融 ...

Investment Rating - The report maintains a "Buy" rating for the company [7][8]. Core Views - The main industry challenge remains asset-side factors, necessitating attention to long-term interest rates, equity markets, and the real estate sector. In a scenario of marginal improvement, the company has significant upside potential. In the medium to long term, the company continues to advance channel reforms, emphasizes supply-side innovation, and deepens its involvement in healthcare and comprehensive financial services. The expected advantages of its ecosystem will help the company build future product and pricing barriers. The current 2024 PEV valuation is 0.49 times, which is at the bottom range [2][6][7]. Financial Performance Summary - The company reported a net profit attributable to shareholders of 36.71 billion yuan, a year-on-year decrease of 4.3%. The new business value reached 12.89 billion yuan, with a comparable year-on-year growth of 20.7% [6]. - The decline in profit is primarily attributed to market volatility. The net investment yield decreased by 0.1 percentage points to 3.0%, likely due to the ongoing decline in interest rates and reduced returns from new fixed-income allocations. The total income from non-bank business, investment income, and fair value changes amounted to 56.71 billion yuan, a year-on-year decrease of 3.3% [6]. - The new business value growth is promising, with a new business value rate improvement being the main contributor to this growth. The new single premium decreased by 13.6% to 56.63 billion yuan, while the new business value rate (first-year premium) increased by 6.5 percentage points to 22.8% [6][7]. - The individual insurance capacity continues to improve, with the number of agents down 4% to 333,000 compared to the beginning of the year. However, productivity has significantly increased, with per capita new business value rising by 56.4% year-on-year [6][7]. - The company achieved a property and casualty insurance premium of 79.08 billion yuan, a year-on-year increase of 2.8%, with significant growth in accident and health insurance premiums [6][7]. Market Outlook - The focus in the short term is on asset-side issues, while the long-term outlook remains positive due to the company's ecological advantages. The company is expected to continue its channel reforms and supply-side innovations, which will support its future growth [2][7].