Cai Jing Wang·2025-09-18 07:45Core Viewpoint - China Ping An has denied rumors regarding the relocation of its Shanghai headquarters to Shenzhen, clarifying that the conclusion is unfounded and that the company is merely reorganizing its office arrangements to enhance management and team collaboration efficiency [1][3]. Company Operations - The company stated that its main office location must align with its registered address according to relevant laws, and some employees working remotely will be required to return to the Shenzhen headquarters for centralized operations [1][3]. - Employees who choose to leave will receive an "N+1" compensation package, while those relocating to Shenzhen will receive salary increases and additional benefits such as travel allowances and moving expenses [1][3]. Company Structure - The registered headquarters of various subsidiaries, including Ping An Asset Management, Ping An Pension Insurance, and Ping An Health Insurance, will remain unchanged despite the relocation rumors [1][5]. - Ping An Life Insurance is a subsidiary of China Ping An Insurance (Group) Company, which holds a 99.5139% stake in Ping An Life, with a registered capital of approximately 33.635 billion yuan [5]. Historical Context - China Ping An's dual headquarters model dates back to 2002, with significant investments in Shanghai, including the construction of the Ping An Financial Building [5][6]. - Over the past decade, China Ping An has created 770,000 jobs in Shanghai, served 7.07 million customers, and contributed 104.6 billion yuan in taxes [6]. Financial Performance - As of June 30, 2025, China Ping An's total assets exceeded 13 trillion yuan, reaching 13.51 trillion yuan, a 4.3% increase from the beginning of the year [6]. - The company reported a revenue of 500.076 billion yuan for the first half of the year, a year-on-year increase of 1%, while net profit attributable to shareholders decreased by 8.8% to 68.047 billion yuan [6]. - The number of agents at Ping An Life decreased by 23,000 to 340,000, with an average new business value per agent of 48,515 yuan, reflecting a growth of 21.6% [7].