Summary by Futu AI
Ping'an, China, released its 2024 quarterly results report on April 23, 2024, showing that the company's operations are stable and the core business has resumed growth. The report noted that operating profit attributable to the shareholders of the parent company reached RMB 387 billion, a slight increase of 0.3% year-on-year. Of these, life insurance and health insurance, property insurance and the three core businesses of banking all showed renewed growth, with the property insurance business growing by 5.7% year-on-year. The value of new business reached RMB 129 billion, a strong year-on-year increase of 20.7%, and the new business value ratio increased to 22.8%. The number of personal customers increased to 2.34 million, an increase of 1.0% year-on-year. In the technology business, net profit was affected by the decline in net profit held by National Treasuries, and the operating profit of parent company decreased RMB8.95 million year-on-year. The Company stresses that forward-looking statements involve risks and uncertainties, and investors should consider investment risks with caution.