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Second quarter 2021 earnings released: EPS CN¥1.75 (vs CN¥2.42 in 2Q 2020)

The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved.Second quarter 2021 results:

  • Revenue: CN¥322.8b (up 6.1% from 2Q 2020).
  • Net income: CN¥30.8b (down 28% from 2Q 2020).
  • Profit margin: 9.5% (down from 14% in 2Q 2020). The decrease in margin was driven by higher expenses.

Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings.

Ping An Insurance (Group) Company of China, Ltd. (SEHK:2318) announces an Equity Buyback for CNY 10,000 million worth of its shares.

Ping An Insurance (Group) Company of China, Ltd. (SEHK:2318) announces a share repurchase program. Under the program, the company will repurchase up to CNY 10,000 million worth of its shares. The shares will be repurchased at a price not more than CNY 82.56 per share. The repurchases will be funded from the internal financial resources of the company. The shares repurchased will be used for the Company’s employee stock ownership plan, including but not limited to the long-term service plan which has been considered. The program will be valid for 12 months.