Ping An's AH shares both fell, with net profit falling 21% in the first three quarters, and total assets exceeded 10 trillion yuan for the first time

On October 28, Ping An's AH shares fell at the beginning of the session, and as of press time, Ping An A shares of China fell by 2.92% and Ping An H shares of China fell by 2.88%.

On the evening of the 27th, Ping An of China released three quarterly reports, data show that in the first three quarters of 2021, the operating income was 904.629 billion yuan, a year-on-year decrease of 1.4%; the net profit attributable to the mother was 81.638 billion yuan, down 20.8% year-on-year.

In the first three quarters of 2021, Ping An achieved an operating profit attributable to shareholders of the parent company of RMB118.737 billion, an increase of 9.2% year-on-year. It is worth mentioning that as of the end of September 2021, Ping An's total assets reached 10.08 trillion yuan, an increase of 5.8% year-on-year, breaking the 10 trillion mark for the first time.

In terms of business segments, in the first three quarters, Ping An Life insurance and health insurance business of China achieved an operating profit of 73.684 billion yuan, down 2.3% year-on-year; the value of new business was 35.237 billion yuan, down 17.8% year-on-year; in the third quarter, the average first-year premium of agents increased by 6% compared with the second quarter.

As for the reasons for the pressure on the value of new life insurance business, Ping An of China said that it was mainly because of the optimization of the team structure, and the decline in the number of agents had a certain negative impact on the value of new business.

According to the third quarterly report, as of September 30, Ping An of China has repurchased 56,878,274 shares of Ping An A shares through centralized auction transactions, accounting for 0.31115% of the total share capital, and the total amount of funds paid is about 2.867 billion yuan, the lowest transaction price is 48.38 yuan per share, and the highest transaction price is 51.96 yuan per share. As of the end of the third quarter, the number of Ping An shareholders rose to 1.3 million, an increase of 118,000 from the second quarter. Among them, there are 1.303 million A-share shareholders and 4285 H-share shareholders.