Core Viewpoint - Ping An Insurance reported solid interim results for the first half of 2024, demonstrating resilience in a stable economic environment, with a focus on high-quality business development and integrated finance strategies [2][3][25] Financial Performance - Operating profit attributable to shareholders reached RMB78,482 million, a 1.7% increase year on year [2][4] - Net profit attributable to shareholders rose 6.8% year on year to RMB74,619 million [2] - Total assets grew to nearly RMB12.23 trillion as of June 30, 2024 [2] Business Segments - Life & Health new business value (NBV) increased by 11.0% year on year to RMB22,320 million [3][5] - Property and Casualty (P&C) insurance revenue rose 3.9% year on year to RMB161,910 million [6] - Ping An Bank's net profit grew 1.9% year on year to RMB25,879 million [7][17] Investment Performance - The insurance funds investment portfolio achieved an annualized comprehensive investment yield of 4.2%, up 0.1 percentage points year on year [8][18] Customer Development - Retail customers increased to 236 million, with 24.9% holding four or more contracts [9][19] - Over 87.92 million retail customers held multiple contracts with different subsidiaries [19] Health and Senior Care Ecosystem - Customers entitled to service benefits in the health and senior care ecosystem accounted for over 68% of Ping An Life's NBV [10][21] - The ecosystem included partnerships with top hospitals and a network of approximately 233,000 pharmacies [10][23] Social Responsibility and Brand Value - Cumulatively invested nearly RMB9.46 trillion to support the real economy, with significant green investments [11] - Ranked 53rd on the Fortune Global 500 list and first in the global "Insurance: life and health" industry [12] Technology and Innovation - Ping An ranked second globally in generative AI patent applications, with a total of 52,185 patent applications [24] - AI service representatives handled about 870 million service interactions, accounting for 80% of total customer service volume [24]
Ping An Reports Stable Operating Profit Attributable to Shareholders of the Parent Company and Interim Dividends, with a 6.8% YoY Increase in Net Profit