Financials Ping An Insurance (Group) Company of China, Ltd.

Equities

End-of-day quote Shanghai S.E. Other stock markets 10/09/2024			5-day change	1st Jan Change
42.66 ^CNY	-0.05%		-1.82%	+5.86%

09-06	China creates $230 billion brokerage powerhouse as consolidation gathers pace	RE
08-23	Transcript : Ping An Insurance Company of China, Ltd., H1 2024 Earnings Call, Aug 23, 2024

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	1,168,867	757,599	739,933	742,418	913,789	552,161	580,500	610,232
Change	-	-35.19%	-2.33%	0.34%	23.08%	-39.57%	5.13%	5.12%
EBITDA	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
EBIT ¹	185,028	214,200	167,662	226,391	144,463	142,968	161,487	176,158
Change	-	15.77%	-21.73%	35.03%	-36.19%	-1.04%	12.95%	9.09%
Interest Paid ¹	-20,098	-26,436	-28,082	-22,888	-24,346	-22,892	-23,820	-25,886
Earnings before Tax (EBT) ¹	184,739	187,764	139,580	105,815	120,117	160,406	174,598	188,372
Change	-	1.64%	-25.66%	-24.19%	13.52%	33.54%	8.85%	7.89%
Net income ¹	149,407	143,099	101,618	83,774	85,665	117,591	127,100	142,089
Change	-	-4.22%	-28.99%	-17.56%	2.26%	37.27%	8.09%	11.79%
Announcement Date	20/02/20	03/02/21	17/03/22	15/03/23	21/03/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q4	2024 Q1	2024 Q2
Net sales ¹	355,261	-	287,114	168,993	340,308	295,341	-	-	-	171,312	158,129	281,600	-	208,851	245,569	137,756
Change	-	-100%	-	-41.14%	101.37%	-13.21%	-100%	-	-	-	-7.7%	78.08%	-100%	-	17.58%	-43.9%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	39,120	40,156	36,901	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	2.65%	-8.11%	-100%	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	49,464	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-100%	-	-	-	-	-	-
Net income ¹	26,063	42,620	34,358	40,058	-	30,782	23,633	20,658	39,615	16,190	7,311	38,400	31,489	-	36,709	37,910
Change	-	63.53%	-19.39%	16.59%	-100%	-	-23.22%	-12.59%	91.77%	-59.13%	-54.84%	425.24%	-18%	-100%	-	3.27%
Announcement Date	23/04/20	27/08/20	27/10/20	03/02/21	22/04/21	26/08/21	27/10/21	29/04/22	23/08/22	26/10/22	15/03/23	26/04/23	29/08/23	21/03/24	23/04/24	15/08/24

¹CNY in Million

Estimates

Fiscal Period: December	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales	629,956	341,845	635,649	329,643	412,977	329,441	546,134	367,655	-	-	-	-
Change	-	-45.74%	85.95%	-48.14%	25.28%	-20.23%	65.78%	-32.68%	-100%	-	-	-
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-
EBIT ¹	-	-	-	73,766	78,085	88,310	95,950	48,513	103,155	73,372	94,160	79,415
Change	-	-	-	-	5.86%	13.09%	8.65%	-49.44%	112.63%	-28.87%	28.33%	-15.66%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	90,760	-	78,821	-	-	-	-	-	-	-	-	-
Change	-	-100%	-	-100%	-	-	-	-	-	-	-	-
Net income	68,683	74,416	58,005	-	-	-	69,841	-	25,879	-	-	-
Change	-	8.35%	-22.05%	-100%	-	-	-	-100%	-	-100%	-	-
Announcement Date	27/08/20	03/02/21	26/08/21	17/03/22	23/08/22	15/03/23	29/08/23	21/03/24	15/08/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	1,927,725	1,927,725	1,927,725
Change	-	-	-	-	-	-	0%	0%
Announcement Date	20/02/20	03/02/21	17/03/22	15/03/23	21/03/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2022	2023	2024	2025	2026
CAPEX ¹	8,871	7,810	2,169	2,286	2,441
Change	-	-11.96%	-72.23%	5.39%	6.78%
Free Cash Flow (FCF) ¹	-	-	-	-	-
Change	-	-	-	-	-
Announcement Date	15/03/23	21/03/24	-	-	-

¹CNY in Million

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	-	-	-	-	-	-	-	-
EBIT Margin (%)	15.83%	28.27%	22.66%	30.49%	15.81%	25.69%	27.82%	28.87%
EBT Margin (%)	15.8%	24.78%	18.86%	14.25%	13.14%	28.21%	29.53%	30.89%
Net margin (%)	12.78%	18.89%	13.73%	11.28%	9.37%	21.13%	21.89%	23.28%
FCF margin (%)	-	-	-	-	-	-	-	-
FCF / Net Income (%)	-	-	-	-	-	-	-	-
Profitability
ROA	1.94%	1.61%	1.03%	0.79%	0.75%	1.06%	1.14%	1.16%
ROE	24.4%	20%	13%	10.03%	9.7%	13.03%	12.05%	11.97%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	-	-	-	1.19%	0.85%	0.39%	0.39%	0.4%
CAPEX / EBITDA (%)	-	-	-	-	-	-	-	-
CAPEX / FCF (%)	-	-	-	-	-	-	-	-
Items per share
Cash flow per share ¹	-	-	5.071	26.58	-	-	-	-
Change	-	-	-	424.18%	-	-	-	-
Dividend per Share ¹	2.05	2.2	2.38	2.42	1.5	2.465	2.594	2.717
Change	-	7.32%	8.18%	1.68%	-38.02%	64.31%	5.25%	4.74%
Book Value Per Share ¹	36.82	41.72	44.44	46.97	49.37	53.2	58.03	63.57
Change	-	13.29%	6.54%	5.69%	5.11%	7.77%	9.08%	9.54%
EPS ¹	8.38	8.04	5.72	4.73	4.74	6.496	7.04	7.883
Change	-	-4.06%	-28.86%	-17.31%	0.21%	37.05%	8.38%	11.97%
Nbr of stocks (in thousands)	18,222,647	18,210,235	18,132,470	18,107,642	18,107,642	18,107,642	18,107,642	18,107,642
Announcement Date	20/02/20	03/02/21	17/03/22	15/03/23	21/03/24	-	-	-