Ping An Insurance (Group) Company of China, Ltd. announced Wednesday that net profits attributable to its shareholders declined by 4.2 percent, year on year, in 2020 due to COVID-19.
Net profits totaled 143.1 billion yuan (about 22.2 billion U.S. dollars) last year, the financial conglomerate said in its annual report filed with the Shanghai Stock Exchange.
The company generated revenue of nearly 1.22 trillion yuan last year, a year-on-year increase of 4.2 percent.
Ping An Insurance blamed COVID-19 for its weaker performance, as the epidemic hit its offline business and financial investments, and drove down the market interest rates. Enditem