HONG KONG, July 22, 2019 /PRNewswire/ -- Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group", HKEx: 2318; SSE: 601318) ranked 29th this year in Fortune magazine's Global 500.
The Fortune Global 500 list is regarded as the world's most authoritative corporate ranking for global large-scale enterprises. The ranking measures companies primarily by their annual revenue and profit.
Ping An's ranking on the 2019 list was based on annual revenue in 2018of US$163,597.40 million (equivalent to RMB1,081.87 billion) and profit of US$16,237.20million (equivalent to RMB107.38 billion).
"Ping An is an insurance company by name but, behind the scenes, the Shenzhen-based insurer is a tech power house, feeding its proprietary A.I. algorithms with reams of data harvested from its close to 200 million customers. The Big Data/A.I. combo has enabled Ping An to create unique metrics for risk assessment, helping the company rack up US$163.6 billion in revenues last year," said Fortune.
In 2018, Ping An advanced the strategies of "finance + technology" and "finance + ecosystem", focusing on two major industries of pan financial assets and pan health care. The company applies new technologies to traditional financial businesses and five ecosystems: financial services, health care, auto services, real estate services and smart city services. In 2018, Ping An reported total revenue of RMB1,082.15 billion, with year-on-year growth of 11%. The Group's operating profit attributable to shareholders of the parent company rose18.9% year-on-year to RMB112.57 billion. The net profit attributable to shareholders of the parent company rose 20.6% year-on-year to RMB107.40 billion. The total assets of the company were RMB7,140 billion, an increase of 10% from the beginning of the year. As of now, the total market value of Ping An is nearly RMB1,500 billion.
Ping An also led a robust corporate social responsibility program in China in education, charity, environmental protection, and volunteer work in 2018. To mark Ping An's 30th anniversary, the Group launched Ping An Rural Communities Support. Through the Village Officer, Village Doctor, and Village Teacher programs, Ping An provided financial and technological resources to support entire industry chains in poverty-stricken area sand to give rural residents better access to advanced medical facilities and quality education. In addition, Ping An supported more than 100,000 employees to participate in volunteer activities during the year.
In 2019, Ping Anis focused on maintaining stable, healthy growth of its core businesses, optimizing the business mix, strictly managing risks and building the foundation of its future. Ping An will continue to increase investment in technology, pursue the "finance + ecosystem" strategy and enhance its data-driven operations and smart risk management capabilities to create value for customers, shareholders and society.
For enquiries, please contact:
Gareth Hewett @ +852 68822027 or gareth.john@pingan.com.hk
