2023-03-15 16:00Financial Performance - Ping An reported a total revenue of RMB 1,200 billion for the year 2022, representing a year-on-year growth of 10%[10]. - The net profit attributable to shareholders for 2022 was RMB 150 billion, an increase of 12% compared to the previous year[10]. - The company achieved an operating profit attributable to shareholders of RMB 148.365 billion in 2022, a year-on-year increase of 0.3%, with an operating ROE of 17.9%[17]. - The net profit attributable to the parent company's shareholders for 2022 was RMB 83.774 billion, a decrease of 17.6% compared to RMB 101.618 billion in 2021[74]. - The operating profit for 2022 reached RMB 148.365 billion, showing a slight increase of 0.3% from RMB 147.961 billion in 2021[74]. - The basic operating earnings per share for the group in 2022 were RMB 8.50, reflecting a year-on-year growth of 1.2%[72]. - The return on equity (ROE) for 2022 was 10.1%, down from 13.0% in 2021, reflecting a decrease of 2.9 percentage points[74]. - The company reported a total operating profit of RMB 172.910 billion across all business segments for 2022[76]. Insurance Business - The number of individual insurance policies sold increased by 15% year-on-year, reaching 50 million policies[10]. - The life insurance segment saw an operating profit growth of 16.4% year-on-year, with the average new business value per agent increasing by 22.1%[17]. - The operating profit from individual business increased by 2.0% to RMB 132,636 million, accounting for 89.4% of the group's total operating profit[35]. - The operating profit for the life and health insurance business in 2022 was RMB 111.235 billion, a 16.0% increase from RMB 95.906 billion in 2021[78]. - The total premium income for life and health insurance business in 2022 was RMB 543,014 million, a decrease of 4.3% from RMB 567,281 million in 2021[100]. - The health insurance segment reported a premium income of RMB 9,696 million, with a cost ratio of 95.2%[124]. - The company achieved health insurance premium income of nearly RMB 140 billion in 2022, with a continuous increase in the contribution of customers enjoying services from the health ecosystem to the new business value of life insurance[65]. Customer Base and Engagement - The number of individual customers reached nearly 227 million, with an average of 2.97 contracts per customer, reflecting a 2.1% increase from the beginning of the year[17]. - The number of individual customers reached approximately 226.4 million, representing a year-on-year growth of 2.1%[42]. - The number of annual active users reached approximately 351 million, with over 208 million individual customers also being internet users[43]. - The customer base of high-net-worth individuals had an average of 20.65 contracts per customer, significantly higher than that of affluent customers[48]. - The company served approximately 18.59 million customers with health management services in 2022, with over 76% of new contract customers utilizing these services[90]. Investment and Asset Management - The company has invested over RMB 7.89 trillion to support the real economy, with a green investment and financing scale of RMB 282.363 billion[18]. - The company’s insurance fund investment portfolio reached approximately RMB 4.37 trillion, an increase of 11.5% from the beginning of the year[138]. - The total assets under management for Ping An Trust reached RMB 552.01 billion, a growth of 19.7% year-on-year, with investment-type assets increasing by 51.3%[175]. - The company’s investment portfolio totaled RMB 4,368.4 billion as of December 31, 2022, up from RMB 3,916.4 billion in 2021[142]. - The net investment income for 2022 was RMB 188.84 billion, representing a year-on-year increase of 13.2% from RMB 166.85 billion in 2021[146]. Strategic Initiatives and Future Plans - The company plans to expand its health insurance segment, targeting a 20% increase in premium income for 2023[10]. - Ping An aims to enhance its market share in the asset management sector, with a target of increasing assets under management by 15% in 2023[10]. - The company is exploring strategic acquisitions to bolster its fintech capabilities, with a budget of RMB 10 billion allocated for potential deals[10]. - The company aims to enhance its "comprehensive finance + healthcare" strategy to drive high-quality development amid challenging macroeconomic conditions[75]. - The company plans to strengthen its insurance protection functions and improve customer experience through a "managed healthcare model"[75]. Technology and Innovation - New technology initiatives, including AI-driven customer service, are expected to reduce operational costs by 5% in the next fiscal year[10]. - The number of technology patents reached 46,077, an increase of 7,657 from the beginning of the year, with AI-driven product sales growing by 25%[18]. - The AI-driven product sales accounted for 48.5% of total sales in 2022, reflecting a 19.2 percentage point increase year-on-year[190]. - The company ranks first globally in digital medical patent applications and has built one of the largest medical databases, covering 4,000 diseases[69]. Banking Operations - The bank's operating income was RMB 179.895 billion, up 6.2% year-on-year, and net profit increased by 25.3% to RMB 45.516 billion[17]. - The total amount of loans and advances issued was RMB 3.329161 trillion, up 8.7% from the previous year[157]. - The overdue loan ratio increased to 1.05%, up from 1.02% in the previous year[157]. - The net interest margin for 2022 was 2.75%, down 0.04 percentage points from the previous year[159]. - Ping An Bank has implemented measures to support clients facing temporary operational difficulties due to macroeconomic impacts, including grace periods and tailored collection strategies[171].