Ping An update

HK 2318 + 2,32% = 39,65hk$

Sentiment was boosted on Monday by the listing plan of China's No. 2 life insurer. The China Securities Regulatory Commission said on Friday it would review Ping An Insurance's (2318.HK: Quote, Profile , Research) application to issue up to 1.15 billion A shares. Based on the close of Ping An's Hong Kong-listed shares on Friday, the Shanghai offer could raise as much as US$5.55 billion, making it China's second biggest domestic IPO and attracting fresh interest in the Shanghai market.  

Ping An Insurance, the nation's second-largest insurer, will raise as much as 38.9 billion yuan ($5 billion) by selling shares in Shanghai, the company said in an exchange filing yesterday after the market closed. It will be China's second-biggest stock offering. Ping An Insurance already trades in Hong Kong, where it fell 0.3 percent to HK$38.45.

``Some investors are lured away by Ping An Insurance's IPO sale on expectation of a high return when they start trading,'' said Wu Kan, an analyst at Shanghai Securities Consulting Co. in Shanghai. ``That triggers a bit of selling.''  

Ping An set for record bids in IPO

Katherine Ng

Saturday, February 10, 2007

Market observers expect Ping An Insurance (2318) to break the record set by Industrial Bank by freezing more than 1 trillion yuan (HK$1.008 trillion) when it launches its A-share offering Monday.

The insurance company held an online presentation for retail investors Friday after setting a price range of 31.8 yuan to 33.8 yuan Thursday. The yuan- denominated shares will be available to retail investors online Monday.

"The lower-than-expected range will stimulate investors," a fund manager said, adding he believed the price would be set at the top end of the range.

The Shenzhen-based insurance company said Friday its premiums growth last year had stayed steady at an average of 20 percent.

"Life premiums grew 17 percent while the property and casualty portion grew 33 percent," a senior official said while answering questions posted online by a retail investor.

Ping An was also bullish about policy changes by the industry regulator regarding the regulation of asset investments.

"The lifting of the ban allowing insurers to invest in the equity and property markets could raise our rate of return. However, it would also increase the volatility and risk," an official said.

The China Insurance Regulatory Commission made two separate announcements Thursday and Friday, saying it would relax the ban on equity and property investments.

Ping An Insurance, which is aiming to raise up to 38.9 billion yuan in the domestic market, is offering up to 1.15 billion A shares.

According to the company, 30 percent would be allocated to strategic investors, 25 percent to fund managers and the remaining 45 percent for individuals.

Its strategic partner, HSBC (0005) owns 19.9 percent of the existing H shares but has not announced if it will buy any A shares.

Ping An's H shares dropped 0.91 percent Friday to close at HK$38.20.  

Ping An starts $5b China share sale today


Ping An Insurance (Group) Co., which is raising as much as 38.9 billion yuan ($5 billion) in China's second-biggest stock sale, started gauging investor interest in a nation that has only one publicly traded insurer.

Shenzhen-based Ping An, China's second-biggest insurer, is offering as many as 1.15 billion shares at between 31.8 yuan and 33.8 yuan apiece, according to a statement sent late yesterday. It began taking orders today.

Ping An follows bigger rival China Life Insurance Co. in selling shares after Chinese stocks rebounded from a four-year slump and doubled in 2006. They will be the only two insurance stocks on China's domestic stock markets, where more than 1,400 companies are traded.

"Insurance stocks are rare in China so there should be a scarcity premium,'' said Chris Tang, a manager at hedge fund Marco Polo Investments Group in Hong Kong. ``The sale is attractive."

Shares of both companies already trade on the Hong Kong exchange. Ping An raised HK$14.3 billion ($1.83 billion) in an initial public offering in Hong Kong in 2004. China Life's December 2003 IPO brought in $3.5 billion.

Ping An, a fifth owned by HSBC Holdings Plc, is tapping investors to help finance an expansion into the banking and securities industries as growth in insurance premiums slows. China's insurance market expanded 14 percent last year, about half the pace of 2003, according to the industry regulator.

Coming Home

Chinese companies that sold shares overseas during the 2001-2005 stock market slump are now returning home, buoyed by the 121 percent surge in the benchmark Shanghai and Shenzhen 300 Index last year. Air China Ltd., the nation's biggest international airline, in August raised 4.6 billion yuan in Shanghai. Industrial & Commercial Bank of China Ltd. sold 46.6 billion yuan of shares last year, the most ever in the country.  

Ping An hat für über 1 B-yuan A share verkauft, der Handel beginnt Montag...


Ping An in trillion yuan A-share sale

Katherine Ng

Wednesday, February 14, 2007

Ping An Insurance (2318), the mainland's second-biggest life insurer, priced its A-share sale at 33.8 yuan (HK$34.05) apiece, at the top end of the indicative range, locking up about 1.1 trillion yuan in the interbank market Monday, the company announced.

In light of capital released from initial public offerings including that of Chongqing Iron & Steel and Ping An, the mainland interbank rate eased Tuesday.

The Shanghai interbank offered rate, Shibor, dipped with the overnight rate at 3.3685 percent, down 63 basis points from 4.0016 percent a day earlier.

Shibor, launched January 4, is a reference rate between 16 commercial banks.

One-month and three-month interbank rates were at 4.0089 percent and 2.8745 percent, having eased from 4.0491 percent and 2.8757 percent Monday, the day Ping An sold A shares online.

"The institutional and retail investor response was huge. The institutional portion was 25 to 28 times oversubscribed, locking up a record 250 billion yuan," a market source said.

"The retail portion was also overwhelmed [with orders] and the clawback mechanism was exercised."

Market-watchers believe there will be ample liquidity left for new IPOs.

"Most IPO candidates are financials, which are hot among investors. Provided there is no drastic incident or a market crash, the 1 trillion yuan IPO money will stay," said a fund manager in Shanghai.

Upcoming A-share offerings include China CITIC Bank, Bank of Communications (3328), Beijing Capital Airport (0694) and Chongqing Commercial Bank.

"On its first day of trading, Ping An's A share will trade at about a 5 percent premium to its H share," forecast a fund manager, adding there will not be a repetition of the frenzy surrounding China Life (2628).

China Life's A shares more than doubled on its trading debut January 8, closing at 38.93 yuan per share.

Ping An's H shares closed Tuesday at HK$38.40, down 2.17 percent from a day earlier.

1227 [Dow Jones] STOCK CALL: ABN Amro equally pessimistic about Ping An Insurance (2318.HK [News / Quote]) as it is about China Life (2628.HK [News / Quote]). Cuts Ping An's target price to HK$32 (from HK$33.10) due to 'disappointing growth in the value of new business'. Says Ping An's valuation is expensive and asks investors to take advantage of current share price strength and sell stock before FY06 results on April 12. Keeps Sell call. Stock +2% at HK$39.05.(SMG) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com

HK +1.8% = 39H$

DJ UPDATE: Ping An Insurance Posts 86% Rise In 2006 Net Profit Apr 12, 2007 16:06


(Adds share price reaction, more details of company's 2006 results and outlook for 2007.)



HONG KONG (Dow Jones)--Ping An Insurance (Group) Co. of China Ltd. (2318.HK [News / Quote]) posted a robust 86% rise in net profit last year on strong gains from investment and growing insurance business.



Ping An, China's second-largest insurer by premiums after China Life Insurance Co., said late Wednesday its net profit for the 12 months ended Dec. 31 was CNY7.84 billion, up from CNY4.23 billion the previous year.



However, the Shenzhen-based insurer's 2006 earnings were below a CNY8.16 billion consensus forecast by 19 analysts polled by Thomson Financial.



Ping An shares were up 0.5% at HK$40.50 at 0330 GMT, while the Hang Seng Index was trading 0.2% lower.



Ping An's 2006 revenue rose to CNY87.94 billion from CNY65 billion, with its gross written premiums and policy fees totaling CNY69.70 billion last year, up from CNY59.02 billion in 2005.



Market share for its life insurance operations, where net profit rose 61% to CNY5.70 billion last year, increased slightly to 17% from 16.1%.



The company's property and casualty insurance arm now accounts for about a tenth of China's non-life insurance business with net profit of CNY1.04 billion, nearly two-and-a-half times that of 2005.



Ping An's investment income more than doubled to CNY21.87 billion from CNY9.66 billion in the year-earlier period, as the insurer increased its equities exposure on the buoyant stock market last year. Its net investment yield widened to 4.6% from 4.2% in 2005.



However, earnings were hurt by increases in general and administrative expenses and benefits payouts. Total expenses nearly doubled to CNY8 billion.



Ping An declared a final dividend of CNY0.22. The company omitted a final dividend in 2005.



On its 2007 outlook, Ping An said it expects to benefit from the opening up of the financial sector and increased personal wealth on China's growing economy.



The company is scheduled to hold a press conference on its results at 0700 GMT. -By Amy Or, Dow Jones Newswires; 852-2832 2335; amy.or@dowjones.com

HK +2,5% = 43,85

Ping An (2318.HK: Quote, Profile , Research), China Life's smaller competitor, gained 3.2 percent after it said it plans to double its China banking outlets to about 100 in the next three years
Ping An, which said on Wednesday its second-half profit nearly doubled, is also planning to launch a credit card in the southern boom town of Shenzhen as soon as next month, and Chief Executive Louis Cheung expects that business to break even within five years.

1106 [Dow Jones] Ping An (2318.HK [News / Quote]) +2.9% at HK$44.00, adding to 6.1% post-results rally yesterday. Citigroup ups target to HK$50.56 from HK$46.17 while keeps as Buy; in addition to core life insurance business, banking, securities, non-life business together now make up 29% of Ping An's NPAT, with Shenzhen Commercial Bank to be fully incorporated into Ping An results this year. Bigger rival China Life (2628.HK [News / Quote]) +2.6% at HK$25.40; own FY06 results due Tuesday. Volume heavy, CL most heavily traded, Ping An 11th.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com

Ping An Insurance’s (2318) net profit for 1Q07 was RMB3.85bn under the PRC GAAP. We believe the bottom line is in-line with market forecast. We maintain our BUY recommendation and target price of $45.0. (Timothy Li)

DJ MARKET TALK: Ping An +4.8% On HSI Inclusion; Upside Capped
2007/05/14 12:16
1105 [Dow Jones] Ping An (2318.HK) +4.8% at HK$46.60 on news of HSI inclusion, but perhaps more importantly due to broad market strength on QDII boost. Core Pacific - Yamaichi says Ping An's addition only has limited impact on overall makeup of HSI as would only take up 1.12% weighting. Adds dark horse China Overseas (0688.HK) being left out "was a disappointment" given there currently aren't any pure mainland property stocks in HSI. Still, tips CO, BoCom (3328.HK) to make it in next quarterly review in August. China Overseas +2.9% at HK$10.56. For Ping An, volume modest at HK$388.2 million, and intraday peak of HK$49.50 unlikely to be revisited anytime soon. (RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com (Delayed by 1 hour)

HSI Service Ltd. announced the inclusion of Ping An Insurance (2318) into the HSI with effect from 4 June 2007. A booming A-share market year-to-date is expected to substantially improve the company’s investment gain this year. Given a huge share price discount of H-share to A-share, Ping An Insurance will also benefit from the change in investment policy of QDII. We maintain our BUY recommendation but revised six-month target price upwards from $45.0 to $50.0. (Timothy Li)

China Life (2628.HK: Quote, Profile , Research) gained 1.4 percent to HK$26.10 and Ping An Insurance (Group) Co. of China Ltd. (2318.HK: Quote, Profile , Research) surged 3.1 percent to HK$47.85 after China raised the one-year deposit rate by 0.27 percentage point, helping to push up the insurers' investment yield.

tgt H$ 54,8

Hang Seng Index surged 340 points to close at 20,634. The rebound with a higher market turnover enhances our view that Hong Kong’s equity market can benefit from the execution of QDII even if the A-share market enters into a consolidation phase. The China Insurance Regulatory Commission is set to allow insurance companies investing overseas up to 15% of their assets. Based on total assets of RMB1, 970bn at the end of 2006, we believe the new rules may cause an outflow of RMB300bn to overseas equity markets primarily in Hong Kong. China Life Insurance (2628) and Ping An Insurance (2318) will benefit the most.  

DJ MARKET TALK: Ping An +2.0% At Pre-Open; New HSI Constituent
2007/06/04 11:11
0952 [Dow Jones] Ping An (2319.HK) +2.0% at HK$48.00 on its first trading day as new HSI constituent stock, on news it could invest $9.7 billion into overseas equities markets on further QDII relaxation. Also earnings outlook positive, with Macquarie expecting Ping An''s profit from bank and financial services business units to contribute combined 22% of net profit by 2008, up from 11% in 2006. Stock''s 52-week high of HK$50.10 is near-term resistance.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com (Delayed by 1 hour)

2318 PING AN 47.25 0.2 0.43 681,326 14,513

Tips Ping An Insurance(2318)
Date 4 / 6
Source Fulbright Securities
 

Ping An becomes a Hang Seng constituent stock today. The insurance commission is permitting further diversification in its investment strategy. The Group can increase return on its portfolio investment. Share price will rise again.

Buy $47.00 Target $55.00 Cut loss $40.00

DJ MARKET TALK: Ping An Off 0.5%; S/T Support At HK$45.72
2007/06/04 12:31
1120 [Dow Jones] Ping An (2318.HK) down 0.5% at HK$46.80 on its first day trading as new HSI constituent, off high of HK$47.15.

"Investors had mostly closed off short-covering positions last week,

which caused shares to rise (+4% Friday). Now, the stock is likely to take a breather after recent gains," says Francis Lun at Fulbright; stock +12% since end-April. Short-term support likely at 10-day moving average around HK$45.72.(SUT) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com (Delayed by 1 hour)

RT 46,55-1%

2318 PING AN 45.8 1.15 -2.45 593,350 12,917

2318 PING AN 54 5.4 11.11 665,342 13,082

Seit dem einstieg in die Banken welt klettert Ping An überproportional, dennoch auch eine Aktie aus "der 2.ten reihe" die im Schatten der grossen still und heimlich sehr gut wächst (s.u.1Jahr 139..aber wrtet noch 40 Minuten, dann ...150+ ;-)

viel Glück

Performance
Zeitraum  Veränderung    Zeitraum  Datum  Kurs  
1 Woche  +7,42%    52W Hoch  03.01.2007  4,67  
1 Monat  +5,95%    52W Tief  15.06.2006  1,93  
1 Jahr  +139,90%    Jahreshoch  03.01.2007  4,67  
laufendes Jahr  +10,24%    Jahrestief  05.03.2007  2,98  

Tips Ping An Insurance (2318)
Date 18 / 6
Source Fulbright Securities
  Ping An Insurance (02318) The insurance group has just acquired 4.95% of Minsheng Bank, a medium size bank in China. The Group has already invested in Shenzhen Development Bank. Its banking affiliates now have branches all over China. The Bank branches can sell Ping An insurance policies. Buy $48.60 Target $55.00 Cut loss $40.00
          §

Ping An Insurance

PIAIF - PING AN INSURANCE (OTC)
      Date      Open      High       Low      Last    Change    Volume§% Change
  06/15/07    6.1500    6.1500    6.1000    6.1500   +0.2000      4000§+3.36%

Composite Indicator
  Trend Spotter TM Buy

Short Term Indicators
  7 Day Average Directional Indicator Buy
  10 - 8 Day Moving Average Hilo Channel Buy
  20 Day Moving Average vs Price Buy
  20 - 50 Day MACD Oscillator Buy
  20 Day Bollinger Bands Hold

Short Term Indicators Average:  80% - Buy
20-Day Average Volume - 12295

Medium Term Indicators
  40 Day Commodity Channel Index Buy
  50 Day Moving Average vs Price Buy
  20 - 100 Day MACD Oscillator Buy
  50 Day Parabolic Time/Price Buy

Medium Term Indicators Average:  100% - Buy
50-Day Average Volume - 9562

Long Term Indicators
  60 Day Commodity Channel Index Buy
  100 Day Moving Average vs Price Buy
  50 - 100 Day MACD Oscillator Buy

Long Term Indicators Average:  100% - Buy
100-Day Average Volume - 26402

Overall Average:  96% - Buy

Price Support Pivot Point Resistance
6.1500 6.0833 6.1333 6.1833

Ping An Insurance (Group) Co. (2318 HK), China's second- biggest insurer, gained 95 cents, or 1.8 percent, to HK$53.15. The company reported premiums of 43.8 billion yuan ($5.7 billion) for the first five months of 2007, 19 percent more than a year earlier.

2007-6-21   12:12:00 p.m. HKT, XFNA
BROKER CALL - China Life, Ping An 'buy' reiterated on strong growth -

Citigroup

-

BEIJING (XFN-ASIA) - Citigroup has reiterated its ""buy/low risk"" call on China Life Insurance with a target price of 30.50 hkd on strong premium growth.

""We estimate that China Life is still expected to deliver more than 20 pct new-business growth in 2007 as the leading life insurer continues to improve its product mix,"" Citigroup analyst Bob Leung said.

Citigroup added that the main upside risks include widening investment channels and rising interest rates allowing China Life to achieve investment yield in excess of its own pricing assumptions.

Downside risk could come from a 'hard landing' caused by a significant correction in the market, falling interest rates and increased competition from foreign players.

""If any of these factors has a greater impact than we expect, the stock could have difficulty achieving our target price,"" Leung said.

Separately, Citigroup said it maintained its ""buy/low risk"" rating on Ping An Insurance with a target price of 50.56 hkd based on the strength of its non-life, banking and securities divisions and more efficient distribution and product mix, resulting in further margin expansion.



(1 usd = 7.8 hkd)

fergus.naughton@xfn.com  

DJ MARKET TALK: China Insurers Up On Rate Hike Hopes
2007/06/21 12:25
1106 [Dow Jones] China's 2 listed insurance companies rising on expectations Beijing may raise interest rates further to cool economy. "Interest rate hikes will lead to higher investment returns for insurance companies, which put a large portion of their assets in bonds and deposits," says Shao Ziqin at Ping An Securities. Notes long-term outlook for insurers rosy, as China has entered rate hike cycle; expects great business potential for insurers because of low market penetration in China. China Life Insurance (601628.SH) +6.5% at CNY42.70, Ping An Insurance (601318.SH) +3.3% at CNY73.00; both in active trade. (ZZJ) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com (Delayed by 1 hour)

2318 PING AN 53.75 2.1 4.07 420,479 7,863

2318 PING AN 56.4 2.4 4.44 646,934 11,581

Hong Kong Schluss +6,02%

2318 PING AN 57.25 3.25 6.02 1,538,223 27,276

Insurer wins approval to boost banking unit
By Zhang Fengming


PING An Insurance (Group) Co has received regulatory approval to buy Ping An Bank and merge it with Shenzhen Commercial Bank in a move that beefs up the financial services strength of China's second-biggest insurer.

The China Banking Regulatory Commission approved a plan to allow Ping An Insurance to take over the Shanghai-based Ping An Bank through its Shenzhen Commercial Bank, Ping An Insurance said in a statement to the Shanghai Stock Exchange yesterday.

Under the plan, Shenzhen Commercial Bank sought to acquire a 27 percent stake in Ping An Bank from HSBC for US$29.4 million and pick up the rest from Ping An Trust & Investment, a subsidiary of Ping An Insurance, the Shenzhen-based insurer said.

The two banking arms will be merged and renamed Shenzhen Ping An Bank Co, which will operate a network of about 50 outlets in Shenzhen, Shanghai and Fuzhou.

The merger also enables Ping An Bank, formerly a Sino-foreign joint venture, to offer unlimited retail yuan services to Chinese.

Ping An bought 89 percent of Shenzhen Commercial Bank for 4.9 billion yuan in July 2006, gaining 46 branches in the southern Chinese city and a credit-card license.

Sun Jianyi, executive deputy general manager of Ping An Insurance, said last year that the insurer's banking strategy is to create a single-brand lending business.

Ping An Insurance is gearing up to build itself into a Chinese version of rivals such as Citigroup Inc by offering a full range of financial services, including banking, insurance and assets management.

Ping An Insurance said in March that it had gained a license to run an assets management firm in Hong Kong as the group's overseas investment arm.

Ping An expects to get two-thirds of its revenue from banking, securities and asset management in the long run, compared with about 10 percent at the end of last year.

2318 PING AN 58.65 1.4 2.45 349,549 6,036

As of 12.15 pm, China Life Insurance was up 0.85 hkd or 2.24 pct at 38. 85, off an all-time high of 39.05, Ping An Insurance Group was up 3.35 hkd or 3.91 pct at 89.15, off an all-time high of 90.0 and PICC Property & Casualty was up 0.18 hkd or 1.63 pct at 11.20.

          §
Last Updated: 17/9/2007 12:20:00 HKT


2318 PING AN 88.65 +2.9 +3.38% 772,618 8,818

2318 PING AN 98.9 7.95 8.74 1,131,056 11,794

www.hkex.com.hk/listedco/listconews/sehk/...s.asp?id=000551136

...ts rivals are seeking overseas investors for capital and expertise. Shenzhen-based Ping An Insurance (Group) has teamed up with HSBC as an investor, and Shanghai-based China Pacific Insurance Co has secured overseas investors including Carlyle Group and Prudential Financial.

Ping An, China's second-biggest insurer, added 3.8 percent to 136.52 yuan in Shanghai. China Vanke Co., the nation's biggest publicly traded real-estate developer, gained 3.1 percent to 30.16 yuan. China Minsheng Banking Corp., the first non-state-owned lender, climbed 2.8 percent to 15.50 yuan.

2318 PING AN 116.6 9 8.36 1,309,264 11,380

2318 PING AN 112.6 +2.7 +2.46% 1,032,474 9,191

China's Ping An Insurance may become strategic investor in XJ Group - report

Ping An Insurance (Group) Co of China Ltd (SHA 601318; HK 2318) may become a strategic investor in central Henan province-based power equipment maker XJ Group, the parent of XJ Electric Co Ltd (SZA 000400), the 21st Century Business Herald reported, citing sources.

It will be the first equity investment for Ping An, China's second largest insurer, the report said.

XJ Group had 2006 operating revenue of 6.6 bln yuan and a profit of 450 mln.

The group is also the largest shareholder in Central China Securities with a 40.6 pct stake, and the report said Ping An will be interested in this holding.  

www.boerse-online.de/aktien/deutschland_europa/492081.html