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Ping An Named “Most Honored Company” for the Tenth Time and Received Seven Awards from Institutional Investor
HONG KONG and SHANGHAI, July 6, 2023 /PRNewswire/ — Ping An Insurance (Group) Company of China, Ltd. (“Ping An” or the “Group”, HKEx:2318; SSE:601318) announced that Ping An was named a “Most Honored Company” in Institutional Investor’s 2023 Asia (ex-Japan) Executive Team survey among 1,600 companies. This is the 10th consecutive year Ping An received this award.
In addition, Ping An’s Board of Directors was named “Best Company Board” and Xie Yonglin, President and Co-CEO, and Jessica Tan, Co-CEO, were named “Best CEO”. Ping An also received awards in other categories, including “Best environmental, social and governance (ESG)”, “Best IR Program”, “Best IR Team” and “Best IR Professional”, reflecting Ping An’s outstanding performance in corporate governance, strategy execution by the management team, ESG strategy and implementation, and investor relations, are well recognized by the capital market.
Institutional Investor magazine is one of the most influential financial magazines in the world, and its annual “Best Executive Team” survey is regarded as one of the most authoritative lists by the capital market. Only certified financial industry professionals have the right to vote. Its ranking results have also become a global investment benchmark, recognized by buy-side investors and sell-side institutions. A total of 6,474 investment institutions, portfolio managers and analysts voted on 1,608 companies and 2,504 individuals across 18 industries. They considered a number of core metrics, including financial disclosure, CEO, ESG, investor services and communication.
Ping An’s Board of Directors provides guidance to ensure the Group’s strategy is forward-looking and accurate. It adopts global best practices in governance to pursue long-term and sustainable development, seize future growth opportunities and create sustainable value for shareholders, investors and other stakeholders. Focusing on its core financial businesses, Ping An will continue to enhance the technology-driven “integrated finance + healthcare” strategy, providing customers with a “worry-free, time-saving, and money-saving” service experience. With its sound foundation of corporate governance, Ping An has maintained a steady growth pace. In the first quarter of 2023, Ping An delivered an 18.8% annualized operating return on equity (ROE). Operating profit attributable to shareholders of the parent company reached RMB41.385 billion and net profit attributable to shareholders of the parent company increased 48.9% year-on-year to RMB38.352 billion. As of the end of March 2023, more than 64% of Ping An’s nearly 229 million retail customers have used services provided by its healthcare ecosystem.
Ping An values shareholder returns and is committed to protecting the interests of investors and continuing to improve cash dividends. In 2022, the annual dividend per share increased 1.7% year-on-year to RMB2.42. Ping An has grown its full-year cash dividend amount at a 9.8% compound annual growth rate (CAGR) over the past five years.
Ping An is taking an active role to address the challenges and opportunities brought by climate change, by leveraging green finance to support China’s carbon peak and carbon neutrality goals. As of the end of March 2023, Ping An’s green investment and financing scale totaled approximately RMB308.45 billion and green banking business was approximately RMB174.11 billion. In the first quarter of 2023, green insurance premium income was approximately RMB6.57 billion. Ping An also fulfils its social responsibilities to the community. As of the end of 2022, Ping An had invested a total of RMB77.153 billion in poverty alleviation and rural industrial development.
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