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Ping An Climbs to 21 in the Fortune Global 500 List, 2nd Among Global Financial Enterprises
Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An” or the “Group”, HKEx:2318; SSE:601318) is number 21 overall in the 2020 Fortune Global 500 list, climbing eight places since last year. With sustained growth and revenues of USD184,280 million, the Group ranked second among global financial enterprises, fifth among all Chinese enterprises.
The Fortune Global 500 list is regarded as the most authoritative ranking for the world’s biggest listed companies, measured primarily by annual revenues and profits. This year, total revenue of the 500 global listed companies reached a record high of USD33 trillion. This year, the number of Chinese (including Hong Kong) enterprises reached 124, surpassing U.S. companies (121) for the first time.
Ping An achieved sustained business growth in 2019, as the Group further pursued its “finance + technology” and “finance + ecosystem” transformation strategies, and continued to enhance its data-driven operational capabilities.
In 2019, the Group’s revenue amounted to RMB1,168,867 million, up 19.7% year on year. Operating profit attributable to shareholders of the parent company rose 18.1% year on year to RMB132,955 million. Net profit attributable to shareholders of the parent company rose 39.1% year on year to RMB149,407 million. As of 31 December 2019, the Group’s total number of retail customers surpassed 200 million and internet users reached 516 million. The Group acquired 36.57 million new customers year-on-year, 40.7% of whom were sourced from internet users within the Group’s five ecosystems – financial services, health care, auto services, real estate services, and smart city services.
Ping An aims to “serve the real economy with finance”. Through its insurance, banking, trust and fintech businesses, the Group has allocated more than RMB4 trillion to economic and social development, including means such as insurance protection, loan provision, debt-equity plans and inclusive finance. For example, Ping An and the Guangdong provincial government jointly established the “Guangdong-Ping An Development Fund” of RMB150 billion, investing in large-scale infrastructure within the Guangdong-Hong Kong-Macao Greater Bay Area, including smart city construction, a high-speed railway, an inter-city railway and an airport. Loans for entities granted by Ping An Bank in 2019 reached RMB2.1 trillion, increasing by RMB153.6 billion compared to the end of 2018. Ping An Property & Casualty introduced a range of property, personnel and the third-party liability insurance products for small- and micro-sized enterprises, for protection against their most common risks.
With “finance + technology” as Ping An’s core and main businesses, the Group applies world-leading technologies in its main financial business to increase efficiency, cut costs and enhance risk management while offering customers excellent products and service experiences. Its innovations include the introduction of artificial intelligence (AI) interview robots in the Group’s life and health insurance unit to conduct 100% of sales agent recruitment interviews and the agents’ exclusive smart personal assistant AskBob, which has served agents 340 million times to date. Ping An Property & Casualty launched the Ping An Motor Insurance Trust Claim service, which has cut the average turnaround time of a single claim to three minutes and provides 45 million auto owners with a line of credit. In banking, Ping An developed AI-powered retail banking for all processes including sales, risk control, operations, and management. AI is also used to credit card approvals; of the 14.3 million credit cards issued by Ping An Bank in 2019, nearly 90% were automatically approved by AI.
Ping An’s technologies have also been widely applied to support its five ecosystems. By providing innovative products and services to the market, the Group’s technology business grew rapidly in 2019: total revenue increased by 27.1% year on year to RMB82,109 million. The total valuation of the technology companies reached USD69.1 billion. As of 31 December 2019, the Group had a technology team of nearly 110,000 technology business employees, 35,000 R&D employees, and 2,600 scientists. Ping An’s technology patent applications reached 21,383, and Ping An achieved global ranking of first in fintech and second in digital healthtech for the number of published patent applications.
Ping An is also pursuing sustainable development based on Environment, Social and Governance (ESG) principles. Its MSCI ESG rating has been upgraded twice in a row to “A”. Ping An also built an AI-ESG platform to empower responsible investment. As of 31 December 2019, the Group’s responsible investment reached RMB954,449 million, sustainable insurance insured amount reached RMB121.21 trillion, and the total line of green credit granted reached RMB59,056 million. Ping An is also continuing to drive its “Ping An Rural Communities Support” initiative in China, with RMB24,905 million in poverty alleviation funds granted to date. The Group has also supported the COVID-19 pandemic control efforts in China, with support measures such as insurance protection, medical support and external donations. The Group’s total amount of material and cash donations has exceeded RMB175 million.
In 2020, Ping An’s brand value continues to increase: the Group ranked 7th in Forbes Global 2000 list and 38th in BrandZ™ Top 100 Most Valuable Global Brands list, maintaining its top position among global insurance brands.
Other Chinese enterprises in the top 30 in the 2020 Fortune Global 500 list include Sinopec Group (2nd place), State Grid Corporation of China (3rd), China National Petroleum (4th), China State Construction Engineering (18th), Industrial and Commercial Bank of China (24th), Hon Hai Precision Industry (26th) and China Construction Bank (30th).
DEMONSTRATES TTI’S COMMITMENT TO SUSTAINABLE PRODUCTS AND PRACTICES
FORT LAUDERDALE, Fla., Dec. 23, 2024 /PRNewswire/ — Global cordless power tool, outdoor power equipment and floorcare company Techtronic Industries Co. Ltd. (“TTI” or the “Company”) (stock code: HK:0669, ADR symbol: TTNDY) today announced that it has joined the United Nations Global Compact, reaffirming its dedication to sustainability and social responsibility. With over 25,000 signatories in over 160 countries, the UN Global Compact is the world’s largest voluntary corporate sustainability reporting initiative. By joining, TTI is committing to communicating its progress to stakeholders annually through our ESG Report and UN Global Compact’s website.
TTI’s CEO Steve Richman remarked: “As the industry pioneer in lithium-ion battery-powered, energy efficient power tools and outdoor power equipment, TTI’s commitment to sustainable products and business practices has long been a fundamental part of the way we do business. We began publishing ESG reports in 2015 and we aligned our goals and targets with the UN Sustainable Development Goals in 2018. Every year we make progress in areas including safety solutions, noise reduction, supply chain traceability, decarbonization, and governance. While we have demonstrated our commitment, by joining the UN Global Compact, we have officially aligned our sustainability strategy with the Ten Principles in the areas of human rights, labor, environment, and anti-corruption.”
As part of TTI’s ongoing sustainability efforts, our objective is to implement initiatives that deepen our support of the UN’s Sustainable Development Goals (SDGs) while fostering an inclusive and equitable workplace culture. We are dedicated to advancing our sustainability journey, setting measurable goals, and continuously monitoring our progress.
Learn more about TTI’s efforts by reading our latest ESG publications here. Our 2024 ESG report will be published in March 2025.
About TTI
Techtronic Industries Company Limited (“TTI” or the “Company”), founded in 1985 by German entrepreneur Horst Julius Pudwill, is a world leader in cordless technology. As a pioneer in Power Tools, Outdoor Power Equipment, Floorcare and Cleaning Products, TTI serves professional, industrial, Do It Yourself (DIY), and consumer markets worldwide. With more than 50,000 employees globally, the company’s relentless focus on innovation and strategic growth has established its leading position in the industries it serves.
MILWAUKEE is at the forefront of TTI’s professional tool portfolio. With global research and development headquartered in Brookfield, Wisconsin, the historic MILWAUKEE brand is renowned for driving innovation, safety, and jobsite productivity worldwide. The RYOBI brand, headquartered in Greenville, South Carolina, remains the top choice for DIYers and continues to set the standard in DIY tool innovation. TTI’s diverse brand portfolio also includes trusted brands like AEG, EMPIRE, HOMELITE, and leading floorcare names HOOVER, ORECK, VAX, and DIRT DEVIL (based in Charlotte, North Carolina).
TTI’s international recognition and renowned brand portfolio are supported by a strong ownership structure that underscores the company’s global reach and stability. The Pudwill family remains the company’s largest shareholder, with the remaining ownership held largely by institutional investors at North American and European-owned firms. TTI is publicly traded on the Hong Kong Stock Exchange and is a constituent stock of the Hang Seng Index, operating globally with a strong commitment to environmental, social, and corporate governance standards. For more information, visit www.ttigroup.com.
All trademarks listed other than AEG and RYOBI are owned by the Company. AEG is a registered trademark of AB Electrolux (publ.) and is used under license. RYOBI is a registered trademark of Ryobi Limited and is used under license.
View original content:https://www.prnewswire.co.uk/news-releases/techtronic-industries-joins-the-un-global-compact-302338248.html
LONDON, Dec. 23, 2024 /PRNewswire/ — ATFX Connect, the institutional arm of global trading platform ATFX, has been honored with the prestigious “Outstanding FX Liquidity Provider” award at the FinanceFeeds Awards 2024. This recognition underscores ATFX Connect’s industry-leading position in providing deep and reliable foreign exchange (FX) liquidity, a critical factor for institutional clients navigating global financial markets.
The FinanceFeeds Awards celebrate excellence and innovation in the financial sector, highlighting organizations that deliver exceptional services and groundbreaking solutions. ATFX Connect’s achievement in this category reflects its commitment to addressing the sophisticated needs of institutional clients, including hedge funds, asset managers, private banks, and brokers. The award recognizes the platform’s ability to offer tailored liquidity solutions, cutting-edge technology, and efficient trade execution.
Launched in 2019, ATFX Connect was designed to expand ATFX’s presence in the institutional space by offering a multi-access platform for professional investors. Its focus on technology-driven solutions has made it a trusted partner for clients requiring scalable and adaptable liquidity services. Over the years, ATFX Connect has consistently demonstrated excellence in integrating innovative tools with high-quality liquidity provision, helping clients optimize trading strategies in complex market environments.
This accolade solidifies ATFX Connect’s position as a top-tier liquidity provider in the financial industry. With its ongoing efforts to blend technology with personalized services, the platform continues to set new standards in the institutional trading sector.
About ATFX Connect
Back in 2019, ATFX stepped into the Institutional arena with the launch of its Multi-Access platform ATFX Connect. The management’s vision was to expand the broker’s global presence and continue to provide award-winning liquidity and customer service to clients within the Institutional community. With the focus on the professional Investor, the ATFX Connect platform is designed to provide an efficient automated trading venue that delivers tailored liquidity solutions to Hedge Funds, Asset Managers, Brokers, Private Banks, and other financial institutions. (ATFX Connect Website: https://www.atfxconnect.com)
View original content:https://www.prnewswire.co.uk/news-releases/atfx-connect-won-outstanding-fx-liquidity-provider-award-at-financefeeds-2024-302338243.html
- Work is more important to professionals in ‘Global South’ countries than it is to their peers in Western countries.
- They also place more value on working longer hours, with a significant percentage of professionals in China and India willing to work more than 40 hours a week.
- Westerners lack leadership ambition – only 42% of respondents express a desire to lead or establish a business. In the Global South 65% hold this aspiration.
- Global executive search & leadership advisory firm Amrop surveyed 8,000 people in Brazil, China, France, Germany, India, Poland, the UK, and US on the meaning of work.
BRUSSELS, Dec. 23, 2024 /PRNewswire/ — Professionals in Western countries are less ambitious and less interested in work than their ‘Global South’ peers, a new global study by Amrop, a leading global executive search and leadership consulting firm, reveals.
“The drive and ambition in India, Brazil, and China highlight a contrast with the aging societies in the West. As Western nations also face a scarcity of qualified professionals, the ambition of their workforce becomes a decisive factor for growth, economic success, and wealth preservation,” states Annika Farin, Global Chair at Amrop. “Stakeholders should encourage entrepreneurship and foster interest in both professional and personal growth in workers.”
Notably, 92% of Indians and 87% of Brazilians say they enjoy working, while the sentiment is lower in Germany (71%), the US (69%), and the UK (68%), as well as other European countries. Significant variations emerge in how respondents prioritize their careers: 84% in India assert that a successful career is crucial for a good life, with high agreement also in China (71%) and Brazil (70%). Conversely, only 43% in Germany, 40% in France and 37% in Poland share this perspective. In other Western countries such as the US and UK, over half of respondents consider their careers vital for a good life.
India Leads with Impressive Work Ethic and Work-Life Balance
However, divergent work ethics surfaced among Western countries as well, with 70% in the US prioritizing hard work, contrasting starkly with the 35% in France who share the same belief. In this context, India leads at 75%, surpassing Brazil (55%) and China (63%). Chinese professionals also lean more towards career over private life. Work hours reveal distinctions: 46% in China and 42% in India are willing to work over 40 hours, while 29% in the UK, 27% in Germany and only 16% in France, are open to longer working hours. At the same time 73% in India and 59% in China assert that they have a healthy work-life balance, contrasting with 45% in France and 49% in Germany.
“This observation is intriguing. Working fewer hours doesn’t necessarily improve one’s perception of work-life balance. If any connection exists, it appears to be the other way around – professionals willing to work longer hours also seem to have a greater sense of work-life balance. In Europe, especially, we need follow-up studies to find out where these sentiments are coming from, so we know how to reignite the passion for work,” says Farin.
The Lack of Leadership Ambition Extends to Politics
Further results from the survey show that the Global South countries demonstrate a higher aspiration for leadership roles and entrepreneurial ventures. Notably, 76% in India express a desire to run or manage a company, followed by 66% in Brazil and 54% in China. In contrast, the UK (52%), the US (49%), France (37%), and Germany (36%) trail in these aspirations. The global lack of leadership ambition extends to politics, with respondents deeming it the least desirable career across most countries. Only 19% express a motivation to make a positive impact, with 51% prioritizing financial stability and 39% aiming for a specific lifestyle.
Looking at these results, Farin emphasizes a further concern, “In surveying individuals with at least a bachelor’s degree across various countries, our results prompt a crucial question: If most professionals lack ambition for high-level leadership, who will shape the future of economies and societies? Our societies rely on people, their expertise, and motivation. Are we approaching a future where we question not only corporate leadership but also national leadership?”
About the Survey
An online survey was conducted and gathered insights from 8,000 participants, with 1,000 respondents from each of the following countries: Brazil, China, France, Germany, India, Poland, the US, and the UK.
The survey aimed for representativeness across these diverse nations, capturing perspectives from individuals aged 20 to 60 (Gen Z: 20-26, Young Millennials: 27-34, Old Millennials: 35-42, Gen X: 43-60), all possessing at least a bachelor’s degree. Where applicable, reported results represent the top two answer sets (strongly agree/agree).
About Amrop
Amrop is a global leadership consulting firm, offering retained executive search, Board and leadership advisory services. We advise the world’s most dynamic, agile organizations on identifying and positioning Leaders For What’s Next – adept at working across borders, in markets around the world. Established in 1977, Amrop operates in Asia, EMEA and the Americas across 69 offices in 57 countries.
Contact:
The Amrop Partnership SC
Rue Abbé Cuypers 3
1040 Brussels, Belgium
T. +32 471 733 825
E. [email protected]
Brigitte Arhold, COO
Logo: https://mma.prnewswire.com/media/1755576/Amrop_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/new-report-what-rises-in-the-east-and-goes-down-in-the-west-ambition-to-lead-302337266.html
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