Ping An Profit Falls as Market Rout Hurt Investment Returns
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 23 2024
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Source: Bloomberg
- Ping An's Profit Decline: Ping An's profit decreased by 4.3% in the first quarter due to stock-market declines and falling bond yields affecting investment returns.
- Financial Figures: The company reported a fall in profit to 36.7 billion yuan ($5 billion) from 38.4 billion yuan in the same period last year, with operating profit down by 3%.
- Market Challenges: China's stock market volatility and lower bond yields impacted insurers' investment returns despite increased demand for savings products.
- Investment Strategies: Ping An focused on long-term returns through value investing amidst volatile capital markets and declining treasury yields.
- Business Performance: New business value rose by 21% in the first quarter, reflecting improved productivity of life agents, with shares rising by 3% in Hong Kong trading.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
