Ping An appoints Ray Wang as chief technology officer

HONG KONG/SHANGHAI - Ping An Insurance (Group) Company of China, Ltd. (HKEX:2318; SSE:601318), a financial powerhouse with a market capitalization of $129.9 billion and a "GOOD" financial health rating according to InvestingPro, has appointed Ray Wang as its new Chief Technology Officer and General Manager of Ping An Technology, according to a press release statement issued Tuesday.

Wang, who holds a master’s degree in computer science from the National University of Singapore, brings nearly 20 years of experience in the finance and technology sectors. Prior to joining Ping An, he held senior technical management positions at Google and Bloomberg.

His career also includes roles as Chief Architect at Baidu, where he led the development of Baidu Wallet and financial services, and as Vice President and CTO of Ant Fortune and Ant Insurance at Ant Group.

At Ping An, Wang will be responsible for enhancing the company’s artificial intelligence research and development capabilities. The company stated that his appointment aims to support the integration of its self-developed large language models and open-source big data platforms.

Ping An has invested in building what it calls a "953" technology foundation, supported by nine major databases, five laboratories, and three technology companies. These technology investments have contributed to impressive returns, with the stock gaining 78.5% over the past year and 27% year-to-date, according to InvestingPro data. As of March 31, 2025, the company reported filing 55,435 patent applications.

The insurance group currently employs over 21,000 technology developers and more than 3,000 scientists as part of its technology team.

Ping An reported total assets of more than RMB12 trillion as of December 2024, maintaining a strong financial position with a current ratio of 7.19 and generating $130.3 billion in revenue over the last twelve months. The company ranked 27th in the Forbes Global 2000 list and 47th in the Fortune Global 500 list in 2025. Get detailed insights and 12 additional key metrics with InvestingPro.

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