Increasing Ping An's FVE as Core Business Will Increasingly Benefit From Technology Adoption

Ping An Posted Robust First-Half EV Growth; FVE Increased

Ping An's FinTech Conference Revealed Strength of Its Technology Platform; Increasing FVE to HKD 60

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Equity Bottom-Up

<p><strong><a href="https://www.smartkarma.com/entities/12880" target="_blank" data-smartkarma-citation="entities:12880:1">Ping An Insurance (Grp) Co Of China Ltd. (2318 HK)</a></strong>'s 2017 results reflected strong fundamentals across financial and tech businesses, with embedded value and new business value surging 29.4% and 32.6% from 2016, respectively. The results confirmed our thesis that Ping An is on a fast growth track, as its financial and tech businesses are both seeing rising synergies. We raise our fair value estimate to CNY 85 from CNY 79 for the A shares and to HKD 105 from HKD 93 for the H shares to recognize…</p>

Ping An Insurance (Grp) Co Of China Ltd. (2318 HK)'s 2017 results reflected strong fundamentals across financial and tech businesses, with embedded value and new business value surging 29.4% and 32.6% from 2016, respectively. The results confirmed our thesis that Ping An is on a fast growth track, as its financial and tech businesses are both seeing rising synergies. We raise our fair value estimate to CNY 85 from CNY 79 for the A shares and to HKD 105 from HKD 93 for the H shares to recognize…

Increasing Ping An’s FVE to Reflect Modest Contributions From Tech Initiatives

Ping An Insurance (H)

Increasing Ping An’s FVE to Reflect Modest Contributions From Tech Initiatives