Ping An’s OneConnect registers steep revenue growth in 2021
Ping An today announced its financial results for the year ended December 31, 2021.
OneConnect Financial Technology Co. Ltd, a Technology-as-a-Service provider for financial institutions and an associate of Ping An, facilitated the digital transformation of the financial services ecosystem and operating performance continued to improve. Revenue grew 24.8% year on year to RMB4,132 million in 2021. Premium customers increased by 202 year on year to 796, including 212 premium plus customers.
Ping An achieved an 18.9% operating ROE, with operating profit attributable to shareholders of the parent company rising 6.1% year on year to RMB147,961 million in 2021. Net profit was RMB121,802 million and net profit attributable to shareholders of the parent company decreased 29.0% year on year to RMB101,618 million.
Ping An attaches importance to shareholder returns and will pay an annual dividend of RMB2.38 per share in cash, up 8.2% year on year, marking a continued increase in cash dividends. Subsequent to the announcement of the A Share Repurchase Plan in August 2021, Ping An repurchased approximately 77.77 million A shares, worth approximately RMB3.9 billion, as of December 31, 2021.
Ping An’s technology patent applications increased by 7,008 from the beginning of 2021 to 38,420 as of December 31, 2021, more than most other international financial institutions.
Ping An uses artificial intelligence to develop its financial businesses. Sales realized by AI service representatives increased 66% year on year to approximately RMB275.8 billion in 2021. AI service representatives covered 2,158 scenarios as of December 31, 2021, with customer service volume reaching approximately 2.07 billion times, accounting for 84% of Ping An’s total customer service volume in 2021.