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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Ping An Insurance Group Company    601318   CNE000001R84

PING AN INSURANCE GROUP COMPANY (601318)
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Ping An Insurance of China : Becomes HSBC's Strategic Shareholder

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12/07/2017 | 01:54am CEST
   By Joanne Chiu 
 

Ping An Insurance (Group) Co.'s (>> Ping An Insurance (Grp) Co of China Ltd) first-time disclosure that it holds a 5.01% stake in global banking giant HSBC Holdings Plc. (>> HSBC Holdings plc) highlights the Chinese insurer's attempt to boost its financial investments to improve returns.

The Hong Kong and Shanghai-listed insurer has cumulatively bought 1.02 billion shares of HSBC through the southbound Stock Connect program, which allows mainland Chinese companies to buy Hong Kong shares, making it one of HSBC's significant investors, Ping An said in a statement late Wednesday.

Ping An last week unveiled that it had boosted its stake in China's top lender Industrial & Commercial Bank of China to 8% from 7.9%, for around HK$483 million (US$61.8 million). The latest disclosure also marks a reversal of Ping An's historical relationship with the U.K. bank, which in 2012 sold its 15.6% stake in the Chinese insurer to a conglomerate controlled by Thailand's tycoon Dhanin Chearavanont for US$9.39 billion.

Ping An said that investing in HSBC is a financial investment given the bank's strong business performance and good dividend. "This complements the assets and liabilities matching principles of Ping An Asset Management's insurance funds," it said.

Write to Joanne Chiu at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
HSBC HOLDINGS 0.92% 745.7 Delayed Quote.-3.65%
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Financials ( CNY)
Sales 2018 843 B
EBIT 2018 158 B
Net income 2018 104 B
Debt 2018 -
Yield 2018 2,37%
P/E ratio 2018 11,45
P/E ratio 2019 9,50
Capi. / Sales 2018 1,38x
Capi. / Sales 2019 1,18x
Capitalization 1 164 B
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Ping An Insurance Group Co Technical Analysis Chart | 601318 | CNE000001R84 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 84,1  CNY
Spread / Average Target 32%
EPS Revisions
Managers
NameTitle
Ming Zhe Ma Chairman & Chief Executive Officer
Li Ji Gu Chairman-Supervisory Board
Sin Ying Tan Chief Operating & Information Officer, Deputy GM
Jason Bo Yao CFO, Executive Director & Deputy General Manager
Jian Yi Sun Vice Chairman & Deputy General Manager
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