Financial China

Ping An - not so tranquil

  • Published 20 Aug 2009

Sacrificing profit margins to expand market share has hurt 1H performance.

It became clear on August 14 how big a price Ping An Insurance (2318:HKG) has paid in trying to expand market share by sacrificing profit margins. The insurer reported a 44.96% year-on-year fall in 1H net profit to Rmb 5.22bn ($764m, €541bn, £462bn). Investors were disappointed, selling the stock down 5.85% to close at HK$61.20 (Rmb 53.96, $7.90, €5.60, £4.78) after the announcement.

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