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<Results>PING AN 2024 NP Surges 47.8% to RMB126.61B; Final DPS Rises to RMB1.62
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PING AN (02318.HK) announced its full-year results for the period ending December 31, 2024. Revenue reached RMB1.14 trillion, up 10.6% YoY. It recorded a net profit of RMB126.607 billion, up 47.8% YoY, with EPS at RMB7.16.

The company declared a final DPS of RMB1.62, vs RMB1.5 in the same of the previous year. The full-year total annual DPS amounted to RMB2.55, reflecting a 5% YoY rise. Cash dividend payout ratio based on OPAT attributable to shareholders of the parent company will be 37.9%, having risen for 13 consecutive years.

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On a like-for-like basis with year-end 2023 assumptions, the group’s Life & Health NBV grew 28.8% YoY last year. The agent channel NBV grew by 26.5% YoY. Bancassurance channel NBV grew 62.7% YoY. The number of Ping An Life’s individual sales agents grew steadily for three consecutive quarters to 363,000 as of December 31, 2024.
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