Ping An Insurance Company of China Ltd (HK:2318)
:2318
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Ping An Insurance Company of China
(2318)
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Rating:64Neutral
Price Target:
HK$67.00
▲(10.56% Upside)
Action:Reiterated
Date:05/02/26
The score is supported primarily by strong profitability and high-quality cash conversion, with improving leverage trends. It is held back by the very high P/E and a mixed technical picture with slightly negative MACD and the price below key medium-term moving averages.
Positive Factors
Integrated financial platform
Ping An's multi‑pillar business (life, P&C, banking, asset management) creates durable diversification and cross‑sell advantages. Shared distribution and digital channels lower customer acquisition costs, stabilise revenues across cycles and support long‑term fee and interest income growth.
Negative Factors
High absolute debt
Despite improving ratios, the very large absolute debt stock increases sensitivity to interest rates and funding conditions. In adverse market or regulatory scenarios this could constrain capital actions, require higher provisions, or raise refinancing risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated financial platform
Ping An's multi‑pillar business (life, P&C, banking, asset management) creates durable diversification and cross‑sell advantages. Shared distribution and digital channels lower customer acquisition costs, stabilise revenues across cycles and support long‑term fee and interest income growth.
Read all positive factors
Ping An Insurance Company of China (2318) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.13T
Dividend Yield4.25%
Average Volume (3M)41.58M
Price to Earnings (P/E)9.1
Beta (1Y)1.36
Revenue Growth>-0.01%
EPS Growth6.63%
CountryHK
Employees273,053
SectorFinancial
Sector Strength70
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)7.57
Shares Outstanding7,447,577,000
10 Day Avg. Volume42,817,767
30 Day Avg. Volume41,581,731
Financial Highlights & Ratios
PEG Ratio6.42
Price to Book (P/B)1.06
Price to Sales (P/S)1.14
P/FCF Ratio1.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$82.79Price Target Upside36.62% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)8.11
Revenue Forecast (FY)HK$1.08T
Ping An Insurance Company of China Business Overview & Revenue Model
Company Description
Ping An Insurance (Group) Company of China, Ltd. provides financial products and services for insurance, banking, asset management, and fintech and healthtech businesses in the People's Republic of China. The company's Life and Health Insurance se...
How the Company Makes Money
Ping An primarily makes money through a combination of insurance underwriting and investment/financial income across its integrated financial platform.
1) Insurance underwriting income (risk-based earnings)
- Life & health insurance: Ping An sell...
Ping An Insurance Company of China Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 912.17B | 927.89B | 916.62B | 678.64B | 664.50B | 1.06T |
| Gross Profit | 902.93B | 919.19B | 908.77B | 678.64B | 664.50B | 1.06T |
| EBITDA | 224.10B | 221.61B | 207.86B | 163.69B | 183.38B | 184.18B |
| Net Income | 132.76B | 131.29B | 126.61B | 85.67B | 111.01B | 101.62B |
Balance Sheet | ||||||
| Total Assets | 14.17T | 13.90T | 12.96T | 11.58T | 11.01T | 10.14T |
| Cash, Cash Equivalents and Short-Term Investments | 983.50B | 269.72B | 950.37B | 797.92B | 746.52B | 630.51B |
| Total Debt | 1.34T | 2.61T | 1.40T | 1.49T | 1.48T | 1.59T |
| Total Liabilities | 12.74T | 12.49T | 11.65T | 10.35T | 9.82T | 9.06T |
| Stockholders Equity | 1.02T | 1.00T | 928.60B | 899.01B | 869.19B | 812.40B |
Cash Flow | ||||||
| Free Cash Flow | 397.01B | 655.67B | 375.80B | 352.59B | 467.90B | 77.93B |
| Operating Cash Flow | 405.28B | 663.81B | 382.47B | 360.40B | 476.78B | 90.12B |
| Investing Cash Flow | -554.35B | -689.73B | -416.25B | -104.00B | -215.76B | 27.93B |
| Financing Cash Flow | 256.69B | 199.24B | 30.95B | -222.06B | -230.87B | -136.41B |
Ping An Insurance Company of China Technical Analysis
Negative
60.60
Price Trends
62.14
Negative
65.60
Negative
60.86
Positive
Market Momentum
0.12
Positive
42.44
Neutral
12.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2318, the sentiment is Negative. The current price of 60.6 is below the 20-day moving average (MA) of 62.90, below the 50-day MA of 62.14, and below the 200-day MA of 60.86, indicating a neutral trend. The MACD of 0.12 indicates Positive momentum. The RSI at 42.44 is Neutral, neither overbought nor oversold. The STOCH value of 12.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2318.
Ping An Insurance Company of China Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | HK$1.06T | 7.84 | 31.07% | 3.42% | 36.40% | 44.74% | |
77 Outperform | HK$195.24B | 4.89 | 35.23% | 5.24% | 39.01% | 38.60% | |
69 Neutral | HK$358.49B | 6.78 | 18.16% | 3.28% | 10.54% | 27.66% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | HK$905.75B | 7.26 | 15.16% | 2.16% | 9.97% | -4.43% | |
64 Neutral | HK$1.13T | 9.14 | 13.93% | 4.25% | >-0.01% | 6.63% | |
60 Neutral | HK$325.60B | -37.16 | 13.89% | 3.05% | 9.46% | 9.49% |
* Financial Sector Average
HK:2318
Ping An Insurance Company of China
61.40
15.65
34.20%
HK:1299
AIA Group
85.95
21.77
33.91%
HK:2601
China Pacific Insurance (Group) Co
32.70
9.23
39.32%
HK:2628
China Life Insurance Co
29.62
14.51
96.08%
HK:1339
People's Insurance Co (Group) of China
5.65
0.60
11.93%
HK:1336
New China Life Insurance Co., Ltd. Class H
49.08
18.61
61.06%
Ping An Insurance Company of China Corporate Events
Ping An Posts Solid Q1 2026 Growth as Integrated Finance and Health Strategy Gains Traction
Apr 28, 2026
Ping An reported a solid start to 2026, with operating profit attributable to shareholders rising 7.6% year on year to RMB40.78 billion in the first quarter, and equity attributable to shareholders up 1.8% to RMB1.02 trillion, reflecting resilienc...
Ping An Sets 2026 AGM to Approve 2025 Results, Dividend and Share Issue Mandate
Apr 28, 2026
Ping An Insurance Company of China has called its 2026 annual general meeting for May 20 in Shenzhen to seek shareholder approval of its 2025 board and supervisory reports, annual report and summary, and the profit distribution plan including the ...
Ping An Flags 2026 First-Quarter Results in Hong Kong Regulatory Notice
Apr 28, 2026
Ping An Insurance Company of China has issued an overseas regulatory announcement in Hong Kong to comply with local listing rules, underscoring its status as a cross-border financial institution subject to multiple disclosure regimes. The notice, ...
Ping An Posts Robust Q1 2026 Results as Integrated Finance and Health Strategy Gains Traction
Apr 28, 2026
Ping An reported a solid start to 2026, with operating profit attributable to shareholders rising 7.6% year on year to RMB40.78 billion and shareholders’ equity up 1.8%, despite macroeconomic headwinds and external uncertainties. The group&#...
Ping An Insurance Flags Release of Ping An Bank’s Q1 2026 Results
Apr 24, 2026
Ping An Insurance (Group) Company of China has announced that its banking subsidiary, Ping An Bank Co., Ltd., has released its first-quarter 2026 financial report on the Shenzhen Stock Exchange’s website. The group has also made the same qua...
Ping An Advances 2026 Share Purchase and Long-Term Service Plans
Apr 24, 2026
Ping An Insurance has reported progress on its 2026 Key Employee Share Purchase Plan and 2026 Long-term Service Plan, both approved by its board to strengthen employee incentives. The initiatives involve buying company shares on the secondary mark...
Ping An Publishes 2025 Annual Results as Hong Kong Regulatory Filing
Mar 26, 2026
Ping An Insurance (Group) Company of China, Ltd. has released its 2025 annual results in March 2026 as an overseas regulatory announcement in Hong Kong, in line with local listing rules. The filing, described under the theme of value growth and se...
Ping An launches 2026 key employee share purchase plan with broad staff participation
Mar 26, 2026
Ping An Insurance (Group) Company of China has approved and launched its 2026 Key Employee Share Purchase Plan, aiming to align staff interests with those of shareholders and reinforce long‑term commitment. A total of 2,282 employees, includ...
Ping An Extends Key Employee Share Purchase Plan to Bolster Talent Retention
Mar 26, 2026
Ping An Insurance (Group) Company of China has extended the term of its Key Employee Share Purchase Plan, a core component of its medium- and long-term incentive framework first approved in 2015 and previously prolonged to February 4, 2027. The bo...
Ping An Launches RMB 4 Billion 2026 Long-term Employee Service Plan
Mar 26, 2026
Ping An Insurance has approved the implementation plan for its 2026 Long-term Service Plan, a broad-based employee incentive and retention scheme funded entirely from staff remuneration. A total of 71,374 employees have opted in, contributing RMB ...
Ping An Sets April Board Meeting to Approve First-Quarter 2026 Results
Mar 26, 2026
Ping An Insurance has scheduled a board meeting for April 28, 2026, to review and approve the group’s first-quarter results for the period ending March 31, 2026. The meeting will also address other corporate matters, signaling an upcoming di...
Ping An Announces Final 2025 Dividend and Sets Cross-Border Tax Terms
Mar 26, 2026
Ping An Insurance (Group) Company of China has declared a final ordinary dividend of RMB 1.75 per share for the financial year ended 31 December 2025, with shareholders to approve the payout on 20 May 2026. The dividend offers a currency election ...
Ping An Sets Detailed Mandate for Nomination and Remuneration Committee
Mar 26, 2026
Ping An Insurance has formalized detailed terms of reference for its Nomination and Remuneration Committee, defining its composition as at least three independent non-executive directors, one with strong talent identification and remuneration mana...
Ping An Formalizes Roles and Powers of Nomination and Remuneration Committee
Mar 26, 2026
Ping An Insurance has detailed the composition and operational rules of its Nomination and Remuneration Committee, which must consist of at least three independent non-executive directors, including at least one with strong experience in talent id...
Ping An Proposes RMB1.75 Final Dividend and Sets Payout Timetable
Mar 26, 2026
Ping An Insurance has proposed a cash final dividend of RMB1.75 per share for the year ended December 31, 2025, with payment subject to shareholder approval at the annual general meeting on May 20, 2026. The dividend will be declared in renminbi, ...
Ping An Publishes Audited 2025 Results and Full Annual Report
Mar 26, 2026
Ping An Insurance (Group) Company of China has released its audited results for the year ended Dec. 31, 2025, alongside the full 2025 annual report prepared under International Financial Reporting Standards. The report, which will be distributed t...
Ping An Publishes Ping An Bank 2025 Annual Report Summary on Mainland Exchanges
Mar 20, 2026
Ping An Insurance (Group) Company of China announced that its banking subsidiary, Ping An Bank Co., Ltd., has released its 2025 annual report on the Shenzhen Stock Exchange. The group has also disclosed a summary of Ping An Bank’s 2025 annua...
Ping An Sets March 2026 Webcast for 2025 Annual Results
Mar 19, 2026
Ping An Insurance (Group) Company of China will publish its 2025 annual results on March 26, 2026, on the Hong Kong stock exchange website, reinforcing its disclosure practices as a leading Chinese financial and insurance conglomerate. The group&#...
Ping An Shareholders Approve Governance Amendments at 2026 Extraordinary Meeting
Feb 13, 2026
Ping An Insurance has reported the voting results of its first extraordinary general meeting of 2026, held in Shenzhen with both onsite and online participation by A-share and H-share holders. The meeting complied with PRC corporate and securities...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.