Ping An Ranks 7th on Forbes' 'Global 2000' List

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

May 17, 2019, 00:25 ET

SHANGHAI and HONG KONG, May 16, 2019 /PRNewswire/ -- On 15 May 2019, Forbes magazine released its "Global 2000" rankings for listed companies. Benefitting from steady growth in operating income, profit, assets and market capitalization, Ping An has moved up to 7^th position in the 2018 rankings, climbing 3 places compared to last year's list. The Company is the top global insurer. Ping An ranks 6th among global financial companies, and ranks 4^th among the listed companies in mainland China.

Forbes ranks the top 2000 global listed companies each year. The list is regarded as internationally authoritative and features the best companies in the world. The rankings are based on data derived from operating income, profit, assets and market capitalization. The top 10 companies on the 2019 list are Industrial and Commercial Bank of China, JP Morgan, China Construction Bank, Agricultural Bank of China, Bank of America, Apple, Ping An Insurance Company, Bank of China, Shell Group and Wells Fargo.

Ping An's revenue during the period covered was US$151.8 billion, with a profit of US$16.3 billion, assets of US$1,038.3 billion and a market capitalization of US$220.2 billion.

Forbes commented, "Few industries carry as much financial might and profitability as insurance with as little buzz. Ping An Insurance Group, a tech-driven company, ranks first among the global insurers."

Under the strategies of "finance + technology" and "finance + ecosystem", Ping An's overall performance in 2018 achieved steady growth, with an operating income of RMB976.832 billion, a year-on-year increase of 9.6%. The company reports net profit of RMB120.452 billion, a year-on-year increase of 20.5%. The net profit attributable to shareholders of the parent company was RMB107.404 billion, a year-on-year increase of 20.6%. The total assets of the company was RMB7,140 billion, an increase of 10% from the beginning of the year. As of now, the total market value of Ping An is nearly RMB 1,500 billion.

Ping An said, "The year 2019 marks the 70th anniversary of the founding of the People's Republic of China and is the beginning of Ping An's fourth decade, a crucial period for its strategic transformation. The Group will pursue the strategic goal of becoming a 'world-leading technology-powered personal financial services group' guided by technology. Ping An will further optimize products and services experience to promote steady growth of business and continue to create value for customers and shareholders."

About Ping An

Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered personal financial services group. With 184 million retail customers and 538 million Internet users, Ping An is one of the largest financial services companies in the world. Ping An has two over-arching strategies 'pan financial assets' and 'pan healthcare', which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems in financial services, healthcare, auto services, real estate services and Smart City services. Our 'finance + technology' and 'finance + ecosystems' strategies aim to provide customers and internet users with innovative and simple products and services. As China's first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The company is listed on the stock exchanges in Hong Kong and Shanghai. Ping An ranked 7^th in Forbes' 2019 Global 2000, and it ranked 29^th in Fortune Magazine's 2018 Global 500 Leading Companies. Ping An also ranked 43^rd in 2018 WPP Millward Brown's BrandZTM Top 100 Most Valuable Global Brands. For more information, please visit www.pingan.cn