Ping An hits double-digit earnings growth for six years in a row

minutes 2019/03/13 03:42:29
China's News, China's Financial News,  Ping An

Mar 13, 2019 (China Knowledge) - Ping An Insurance has once again managed to post double-digit growth in earnings for a sixth straight year as its technological investments pay off.

Net profits rose 20.6% to RMB 107.4 billion last year while sale rose by 11% to RMB 1.08 trillion.

Ping An which provides about 538 million people with services such as insurance, banking, financial services and even health care seeks to empower ecosystems with technologies.

The company has since developed innovative new business models through technological innovation in the fintech and healthcare sectors to built multibillion companies such as its Ping An Healthcare which provides medical consultations online and its OneConnect fintech platform.

Ping An will be paying a dividend of RMB 1.72 per share in full year dividends this year which is up 14.7% from last year and also a special dividend of RMB 0.2 per share to commemorate its 30th anniversary.

Analysts also expect the company to continue paying a sustainable and progressive dividend moving forward as the insurance giant considers linking dividends to its operating profits.

While operating profits from its life and health insurance businesses still form the core of its business, operating profits from its fintech and healthcare businesses have been increasing, contributing to 6% of the company’s overall operating profits last year.

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