Ping An News

Ping An’s Goal to Pivot from Finance Group to Tech Giant Is Now Threatened

The headwinds that toppled Ant Group Co.’s initial public offering now threaten a $22 billion dream of China’s Ping An Insurance (Group) Co. — to pivot from a finance group to a tech giant and be valued like one. While …

China’s Ping An-Backed Lufax Files for $3 Billion U.S. IPO

Lufax Holding Ltd., one of China’s largest online wealth management platforms, on Wednesday filed to list its shares in the United States, the latest company looking to take advantage of a rebound in capital markets. Lufax, backed by financial giant …

Chinese Companies Lag Far Behind in Climate Risk Disclosure

A report on the current state of climate risk disclosures among the largest companies in China and the United States found that Chinese companies lag significantly behind their global peers in the S&P 500 in climate risk disclosures and need …

China’s Ping An Reports Steady Results for First Half

Ping An Insurance Company of China announced its 2020 interim results for the six month period ended June 30, 2020. The integrated financial services company said it maintained steady business performance in the period by continuing the transformation of the …

China’s Ping An Reports Q1 Profit Drop of 42.7% on Coronavirus Business Disruption

Ping An Insurance (Group) Co of China Ltd, on Thursday reported a 42.7% drop in first-quarter profit, its biggest fall in quarterly profits in more than eight years, as the coronavirus outbreak disrupted its businesses. Ping An, the country’s largest …

Ping An’s OneConnect Raises $312 Million in Expanded U.S. IPO

China-based cloud fintech platform OneConnect Financial Technology Co. expanded its U.S. initial public offering to raise $312 million, partly reversing cuts to its share-sale plans disclosed one day ago. The company, one of several Ping An Insurance (Group) Co. businesses …

IPO for Ping An’s OneConnect Cut in Half

China-based cloud fintech platform OneConnect Financial Technology Co. cut its planned U.S. initial public offering set for Thursday by almost half. The company, one of several Ping An Insurance (Group) Co. businesses backed by SoftBank Group Corp., said in a …

Ping An’s Technology Unit OneConnect Reduces Offering in U.S. IPO

Ping An Insurance’s OneConnect Financial Technology launched a U.S. initial public offering (IPO) of up to $504 million on Tuesday, reducing both its target offering size and valuation. The unit of China’s biggest insurer by market value, Ping An Insurance …

Ping An Q3 Profit Jumps 50% on Higher Investment Returns, Bank Income

Ping An Insurance (Group) Co., China’s largest insurer by market value, said third-quarter profit jumped 50% thanks to higher investment returns and banking income. Net income rose to 31.9 billion yuan ($4.5 billion) in the three months ended Sept. 30 …

China’s Ping An Insurance to Spend $22B on Tech, From AI to Blockchain

Ping An Insurance wants to be valued more like a technology company. Its executives have yet to convince investors their planned $22 billion spend on everything from artificial intelligence to blockchain will work. While Ping An (Group) Co.’s Hong Kong-traded …