Deep integration and deeper development this year, net profit is expected to exceed 9 billion

"Ping-shen" integration in another pass. China Ping An issued a notice today, the company's board of directors to consider the adoption of major asset purchases and related transactions and relevant issues, such as a number of bills, China Ping ' an held ping an bank 7,825,181,106 shares and cash 269,005.230,000 full subscription for the deep development of the private offering of 1, 638,336,654 shares.　　At present, the transaction still requires the approval of both shareholders ' meeting and regulatory authorities. A big increase in profitability announced that after the expansion of the deep development in the first half of 2010, the net profit of 3.847 billion yuan, compared to 279% before the transaction growth.　　The total assets of the bank after the deal is estimated to exceed 900 billion, 9 million credit cards, which are expected to exceed 9 billion yuan in 2010. The Board also considered the adoption of a proposal for a profit forecast compensation agreement with the Shenzhen development. Within 3 years after the implementation of this transaction, if according to the special audit opinion, Ping An bank in the period of any year's actual profit is lower than the corresponding profit forecast, then China peace should be in cash way to deep development pay the difference between the actual profit and the profit forecast 90.75%.　　The move makes the bank of Ping an a profitable contribution to the deep development of its assets. According to the evaluation report issued by the Sino-Union Assets Appraisal Co., as at the benchmark date of assessment (June 30, 2010), the net assets value of Ping An bank is 2,908,047.560,000 Yuan. Combined with the 2010 and 2011 earnings forecasts and commitments of Ping An bank, it is expected that ping an bank 2010 profit growth of at least 58% to 1.75 billion yuan, 2011 net profit increased to 2.3 billion yuan, 2010 expected net rate of about 1.79 times times, 2011 expected net rate of about 1.57 times times.　　According to the valuation, Ping An will subscribe for about 1.638 billion shares of the deep development private offering, with a subscription price of $17.75 per share. Upon completion of the above transaction, the Shenzhen development and Ping An bank will study feasible options for the subsequent integration of the two lines.　　In due course, the development will take the form of two-line integration, including, but not limited to, the means permitted by applicable laws such as the incorporation of Ping an bank. Ushered in the extension of growth in China Ping An, said, after the completion of the transaction, the depth of the development of the number of outlets will be greatly improved, to fill the network of Hercynian Economic Zone gap, and in the economically developed Yangtze River Delta, Pearl River Delta and the Bohai Sea area of the number of outlets will reach the In addition, deep development will further enhance the retail and SME business features, credit card business scale and quality will be a new level.　　At the same time, will also accelerate the deep development of the system upgrade, improve operational efficiency and risk control capacity. Especially important, the deep development will be able to obtain China Ping ' an sustained capital support, share the resources of 5600多万个 customers, more than 2 million enterprise customers, all over the country's distribution network, advanced backup platform and the successful experience of cross sales of multiple financial products, will enable the deep development in the implementation of the extended extension of the same time,Further enhance the overall competitive strength, to achieve rapid and healthy development.