Ping An Insurance announced that the company's revenue in 2017 was 974.57 billion yuan, up 25.83 percent from the same period last year; net profit was 99.978 billion yuan, up 38.2 percent from the same period last year; net profit belonging to shareholders of the parent company was 89.088 billion yuan, up 42.8 percent from the same period last year; operating profit belonging to shareholders of the parent company was 94.708 billion yuan, up 38.8 percent from the same period last year; and ROE for the whole year reached 20.7 percent. The dividend per share for the whole year was 1.50 yuan, an increase of 100% over the same period last year.
Among them, the premium income exceeded 200 billion yuan, and the market share increased by 1.3%. The comprehensive cost rate is 96.2% and the performance ROE is 20.0%, and the business quality and profitability remain excellent. The value and scale of life insurance and health insurance business continued to grow rapidly. The value of new business increased by 32.6% over the same period last year, with a net profit of 36.143 billion yuan, an increase of 44.4%. The number of agents increased by 1.386 million, an increase of 24.8% over the beginning of the year, and production capacity increased by 7.1% over last year. The income of property insurance premiums exceeded 200 billion yuan, an increase of 21.4% over the same period last year, and the comprehensive cost rate of property insurance was 96.2%, which continued to outperform the industry. The retail transformation of banks accelerated, with retail business revenue up 41.7% and retail net profit up 68.3% over the same period last year.
The announcement shows that the company's scientific and technological research and development capability has developed by leaps and bounds. By the end of 2017, the number of Ping an patent applications reached 3030, an increase of 262% over the beginning of the year, covering the fields of artificial intelligence, blockchain, cloud, big data and security, with a number of global leading technologies such as face recognition, voice print recognition and disease prediction. a number of technological achievements have won international awards in medical imaging research, biometric and other fields.
On the other hand, three technology companies under Ping an successfully completed targeted private financing. Ping An Healthcare And Technology completed Pre-IPO financing of US $400m at the end of 2017 and submitted an application for listing on the Hong Kong Stock Exchange. Ping an Healthcare Technology and OneConnect Financial Technology completed initial financing of US $1.15 billion and US $650 million respectively in early 2018.
It is worth noting that Lufax Holding Ltd has maintained rapid development in the areas of wealth management, consumer finance and inter-agency transactions. By the end of 2017, the size of assets under management had reached 461.699 billion yuan, an increase of 5.3% over the beginning of the year; the balance of loans under management was 288.434 billion yuan, an increase of 96.7% over the beginning of the year; and the overall profit for the whole year was achieved for the first time.
In addition, the number of individual customers was 166 million, an increase of 26.4% over the beginning of the year, and the number of new customers was 46.3 million, an increase of 20.5% over the same period last year, of which 18.72 million came from group Internet users, accounting for 40.4% of the new customers. The operation of Internet users has become an important driving force for the steady growth of the number of Ping an customers. The net profit of personal business accounts for 66.2%, and the per capita profit is 356 yuan. The number of Internet users is 436 million, with an average of 73.56 million monthly active users.