Photo/Zhu Wanping

The Ping An Insurance (Group) Company of China, Ltd., one of China's largest insurers, reported a year-on-year fall of 29 percent in net profits last year.

The net profits attributable to shareholders of its parent company stood at 101.62 billion yuan (16 billion U.S. dollars), said a statement the company filed with the Shanghai Stock Exchange.

Its operating profit attributable to shareholders, however, went up 6.1 percent year on year to 147.96 billion yuan. Last year, it achieved an operating return on equity of 18.9 percent, said the statement.

As of the close of trading on Friday, the company's share price was 47.63 yuan, down by 1.28 percent.

Email: tanyuhan@nbd.com.cm