Core Viewpoint - Ping An Insurance has released its 2024 Sustainability Report, highlighting its commitment to public welfare education and innovative financial services, while showcasing significant achievements in various sustainability initiatives [2][21]. Group 1: Public Welfare Education - Ping An's public welfare education initiative celebrated its 30th anniversary in 2024, continuing to support rural education through infrastructure, volunteer teaching, scholarships, and training [3][4]. - As of the end of 2024, Ping An has built 119 Ping An Hope Primary Schools, recruited 12,708 volunteer teachers, and established educational scholarships benefiting 31,345 students [4][7]. Group 2: Financial Services Innovation - The "Worry-free, Time-saving and Money-saving" project aims to enhance customer service and product offerings, focusing on financial advisers, family doctors, and senior care concierges [5][6]. - By the end of 2024, Ping An had 242 million retail customers, with an average of 2.92 contracts per customer, and over 63% of them were entitled to health and senior care service benefits [6][8]. Group 3: Financial Performance - In 2024, Ping An achieved an operating profit of RMB121,862 million, a year-on-year increase of 9.1%, and a net profit of RMB126,607 million, a substantial increase of 47.8% [9]. - The total revenue for 2024 was RMB1,141,346 million, reflecting a year-on-year increase of 10.6%, with a cash dividend of RMB2.55 per share, marking a 5% increase from the previous year [9]. Group 4: Technological Advancements - Ping An has invested heavily in technology, with 55,080 patent applications and AI service representatives handling about 1.8 billion customer service interactions in 2024 [10]. - The company developed an AI-assisted diagnosis system covering over 2,000 diseases, achieving over 99% accuracy in triage and over 95% in assisted diagnosis [10]. Group 5: Green Finance Initiatives - In 2024, Ping An's green insurance premium income reached RMB58,608 million, a year-on-year increase of nearly 57%, while the balance of green loans was RMB157,762 million, up 13% [11]. - The company actively supports low-carbon technologies, issuing RMB440 million in project loans for carbon capture and approximately RMB3.44 billion for clean conversion projects [11]. Group 6: Social Responsibility - Ping An provided over RMB52 billion in rural revitalization assistance, conducted free health examinations for 6,859 villagers, and upgraded 45 rural clinics in 2024 [18]. - The company encouraged employee participation in public welfare projects, with over 490,000 volunteers involved in various initiatives [19]. Group 7: Recognition and Ratings - In 2024, Ping An received an AA rating in the MSCI ESG rating and was recognized as a "Low Risk" company in the Sustainalytics ESG rating, achieving the best score among insurance companies in mainland China [20]. - The company has been included in the FTSE4Good index series for five years and the Hang Seng Corporate Sustainability Index Series for 14 years [20].
Ping An Releases 2024 Sustainability Report