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穿越周期的“长青”范式,平安如何定义长期主义?
格隆汇APP· 2025-03-20 10:44
Core Viewpoint - The article emphasizes the resilience and strategic foresight of Ping An Insurance in navigating market cycles, highlighting its long-term commitment to sustainable growth through innovation and ecosystem development [2][20]. Group 1: Financial Performance - In 2024, Ping An achieved revenue of 1.03 trillion yuan, a year-on-year increase of 12.6%, and a net profit attributable to shareholders of 126.6 billion yuan, up 47.8% [4]. - The weighted average return on equity was 13.8%, an increase of 4.1 percentage points year-on-year, indicating strong overall performance [4]. - The life insurance and health insurance business generated new business value of 28.534 billion yuan, a year-on-year growth of 28.8% [5]. Group 2: Business Segments - The life insurance segment showed high-quality growth, with a 3.6 percentage point increase in the 13-month policy continuation rate and a 3.9 percentage point increase in the 25-month policy continuation rate [5]. - The property insurance segment reported service revenue of 328.146 billion yuan, a 4.7% increase, and a net profit of 15.021 billion yuan, up 67.7% [6]. - The overall combined cost ratio for property insurance improved by 2.3 percentage points to 98.3%, with the auto insurance combined cost ratio at 98.1%, outperforming the market average [7]. Group 3: Investment Strategy - As of the end of 2024, Ping An's insurance fund investment portfolio exceeded 5.73 trillion yuan, a growth of 21.4% from the beginning of the year, with a comprehensive investment return rate of 5.8%, up 2.2 percentage points year-on-year [8]. - The company’s long-term investment discipline is reflected in its consistent performance, with an average comprehensive investment return rate of 5.1% over the past decade [8]. Group 4: Shareholder Returns and Innovation - Ping An plans to distribute a cash dividend of 1.62 yuan per share for the 2024 year-end, marking a 5% increase in total annual dividends to 2.55 yuan per share, with a cash dividend payout ratio of 37.9% [10]. - The company has filed 55,080 patent applications, ranking among the top international financial institutions, showcasing its commitment to technological innovation [12]. - In 2024, Ping An's AI service volume reached approximately 1.84 billion, covering 80% of its total customer service, demonstrating the integration of technology into its operations [12]. Group 5: Strategic Positioning - The aging population in China, with over 20% of the population aged 60 and above, presents significant opportunities for Ping An's healthcare and pension services [14][15]. - Ping An's "insurance + service" model transforms infrequent insurance transactions into frequent health management interactions, enhancing customer loyalty and creating a competitive advantage [16]. - The integration of AI in healthcare services is expected to improve service quality and accessibility, with Ping An developing a leading remote diagnosis platform covering over 2,000 diseases [18].