Ping An Trust

What Ping An Trust does

Ping An Trust (平安信托有限责任公司) is a Shenzhen-incorporated, wholly-owned subsidiary of Ping An Insurance (Group) Company of China, established on April 9, 1996 with RMB 130 billion in registered capital. It operates as a comprehensive trust company under China's trust regulatory framework, offering wealth management service trust, securities investment trust, asset management trust, charitable trust, infrastructure investment, private equity, and special asset management. The company serves ultra-high-net-worth individuals and family offices (with family trust minimums ranging from RMB 1M insurance gold trust to RMB 50M prestige series), institutional clients including banks, securities firms, and wealth management companies (~200 institutional relationships), and Ping An Group's captive insurance capital mandates. Family trust is the strategic flagship product line, anchored by the '鸿承世家' brand (China's first registered family trust brand, 2015) and a four-tier product system (鸿睿/鸿晟/鸿图/鸿福) covering entry points from RMB 1M to RMB 50M. Ping An Trust is the first-mover in multiple Chinese trust categories (first family trust 2012, first charity trust under Charity Law 2016, first unconditional intergenerational family trust 2014).

The business model is fee-and-commission-based, with RMB 12.206 billion in net fee and commission income in 2025 (~74% of RMB 16.503 billion consolidated operating revenue), supplemented by proprietary investment returns. As of FY2025, total AUM reached RMB 10,688.61 billion (up 7.64% YoY), with insurance gold trust holding ~40% national market share and wealth management service trust holding ~20%. The company has built the proprietary DeepTrust AI platform, lifting securities investment trust automation from 47.2% to 76.1% and enabling 85% risk management process coverage. Distribution combines Ping An Group's integrated financial network (Ping An Bank, Ping An Life Insurance), a 1+N dedicated advisor model, and partnered banks and securities firms, supported by a 24/7 digital platform. Ping An Trust is currently pivoting to a 'light-asset, service-oriented trust expert' model under China's new trust regulations, with a November 2025 strategic partnership with Ping An Zhen Yi Nian to build an integrated 'insurance + trust + elderly care service' ecosystem.

Name

Ping An Trust

Legal name

平安信托有限责任公司

Website

https://trust.pingan.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Ping An Trust is a Shenzhen-based, wholly-owned subsidiary of Ping An Insurance Group operating as a top-tier Chinese trust company. It serves ultra-high-net-worth individuals, family offices, and institutional clients with family trust, insurance gold trust, securities investment trust, and infrastructure/PE products, holding ~40% of China's insurance gold trust market.

Ownership category

akta.pro rank

Headquarters

HQ city

Shanghai

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Asset Management Fees (手续费及佣金净收入): Fee and commission income from managing trust assets. In 2025, net fee and commission income reached RMB 122.06 billion (up 26.08% YoY), representing approximately 74% of total revenue. This stream encompasses management fees from wealth management service trusts, securities investment trusts, and asset management trusts, as well as service fees from family trusts and insurance trusts.
2. Investment Returns and Trading Gains (投资收益): Income generated from proprietary investments and mark-to-market gains on the trust's own portfolio. In 2025, total consolidated operating revenue was RMB 165.03 billion, which includes investment gains alongside fee income.
3. Trust Product Subscription Fees: Revenue from qualified investor subscription fees for trust products. Minimum subscription is RMB 1 million per trust plan for qualified investors meeting income or asset thresholds.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Ping An Trust provides licensed trust and asset management services to high-net-worth individuals, family offices, institutional clients, and qualified investors. Core offerings include family trust products (standard, customized, and premium tiers), securities investment trusts (sunshine private placement and discretionary mandates), infrastructure and private equity investment trusts, special assets investment, insurance trusts, wealth management service trusts, and charitable trust services. The firm manages trust assets of RMB 663.7 billion across these business lines.

Product overview

Ping An Trust operates as a comprehensive trust company under Ping An Group, offering a multi-product platform across wealth management service trust, securities investment trust, and charity trust. The core product family includes the Family Trust (家族信托) system with four series: Hong Rui (鸿睿, standard, 10M yuan minimum), Hong Sheng (鸿晟, customized, 10M yuan), Hong Tu (鸿图, premium, 50M yuan), and Hong Fu (鸿福, insurance gold trust, 1M yuan). Supporting products include Sunshine Private Placement (阳光私募) for TOF and bond products, Full Discretionary Trust (全权委托) for customized investment management, and various business area products covering Infrastructure Investment, Private Equity, and Special Assets. The company also operates an Elderly Care Service Trust ecosystem integrating insurance + trust + elderly care services, and manages charitable trusts focused on education, environmental protection, and social welfare. Technology-enabled services include the DeepTrust AI platform for process automation and digital operations.

Differentiator

Problem solved

Functional benefit

Brands

• 鸿承世家: 国内首个家族信托品牌，注册于2015年
• 鸿睿系列
• 鸿晟系列
• 鸿图系列
• 鸿福系列
• 全权委托
• 阳光私募
• 基建投资
• 股权投资
• 特殊资产

Products and services

• Family Trust (家族信托)

Quantifiable outcome

• Wealth management service trust market share ~20%, insurance gold trust market share ~40%
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• 中广核 (CGN — China General Nuclear Power)coreStrategic or Co-development Partner · 31 December 2025Ping An Trust successfully facilitated a RMB 3.7 billion strategic equity investment in CGN's offshore wind power project, marking the first time domestic insurance funds directly invested as equity in offshore wind power on a pari passu basis. This supports national clean energy strategy and provides stable returns for insurance capital.
• 平安臻颐年 (Ping An Zhen Yi Nian)coreStrategic or Co-development Partner · 27 November 2025Ping An Trust and Ping An Zhen Yi Nian signed a strategic cooperation agreement to deeply integrate financial resources with quality elderly care services. The partnership creates a new 'insurance + trust + elderly care service' ecosystem, solving key challenges in Chinese-style elderly care including fund management, service payment, and wealth inheritance across different life stages. The model enables direct payment from trust accounts to elderly care service providers.
• 红树林基金会 (Mangrove Foundation)minorStrategic or Co-development Partner · 1 November 2025Co-organized the 8th Futian Egrets Festival with the Mangrove Foundation and other institutions, themed on 'Biodiversity Friendly'. The festival raised funds for biodiversity conservation through interactive activities, with some proceeds donated to the foundation for mangrove and ancient tree protection.
• 深圳市自闭症研究会 (Shenzhen Autism Research Association)minorGTM or Marketing Partner · 1 November 2025Partner in the '蔚蓝行动·心青年融合计划' (Blue Action — Young Minds Integration Program), providing vocational training and job practice opportunities for young adults with autism. Ping An Trust invited '蔚蓝行动' volunteers to participate in the Egrets Festival, supporting social integration of special needs individuals.
• 深圳市四叶草家长支持中心 (Shenzhen Four Leaf Grass Parent Support Center)minorGTM or Marketing Partner · 1 November 2025Partner in the '蔚蓝行动·心青年融合计划', collaborating on autism awareness and public education activities during the 8th Egrets Festival to promote understanding and inclusion of special needs individuals.
• 交银理财 (Bank of Communications Wealth Management)minorStrategic or Co-development Partner · 10 October 2024Ping An Trust collaborated with Bank of Communications Wealth Management to establish the '平安骄子慈善信托' (Ping An Jiaozi Charity Trust), focused on supporting education development in central and western China. Bank of Communications Wealth Management provides charitable project screening support for the trust.
• 上海真爱梦想公益基金会 (Shanghai True Love Dream Foundation)minorImplementation/ SI/ Consulting Partner · 10 October 2024The foundation serves as the project execution party for the '平安骄子慈善信托', responsible for setting charitable project plans, screening beneficiaries, distributing funds to beneficiaries, and providing regular project management reports to ensure funds are used efficiently for charitable purposes.

Scale indicators15 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Bank of China Wealth Management: Bank-affiliated wealth management subsidiary that competes directly for HNW relationship mandates with trust wrappers and structured products. A broad incumbent on distribution and qualified-investor penetration.
• CCB Trust: Trust subsidiary of China Construction Bank with significantly larger balance sheet and bank-distribution network. Overlaps in infrastructure investment, real estate, and securities investment trusts but benefits from bank-led distribution Ping An Trust does not fully own.
• Minmetals Trust: Trust arm of China Minmetals conglomerate, with strong infrastructure and alternative-investment origination capabilities. Comparable on alternative-asset and securities investment mandates for institutional clients.

Direct peers

• CITIC Trust: Major Chinese trust company affiliated with CITIC Group, offering institutional asset management, securities investment trusts, and family/charitable trust. Closely comparable full-service trust peer inside another large Chinese conglomerate.
• Zhongrong Trust: Large diversified Chinese trust company with similarly broad product platform across real estate, securities investment, and family wealth. Direct competitor in the institutional and HNW trust market.
• China Merchants Trust (CMB Trust): Trust arm of China Merchants Group with comparable trust, asset management, and securities investment product lines. A direct peer in the comprehensive trust company category competing for institutional and HNW mandates.
• Industrial International Trust: Major Chinese trust company operating in institutional asset management, securities investment, and family trust. Comparable in scope across alternative investments and HNW/qualified-investor product suites.
• China Merchants Bank Wealth Management: One of China's largest HNW/private banking franchises with deep retail wealth penetration. Directly comparable on family-wealth advisory, qualified-investor products, and integrated trust/insurance offerings to UHNW clients in mainland China.

Emerging players

• UBS Global Wealth Management (formerly Credit Suisse): Global private bank with deep family-office and UHNW trust-advisory capabilities relevant for cross-border HNW Chinese families. Comparable as a benchmark on trust-structuring and estate-planning sophistication, though not a direct mainland-China competitor.

Regional players

• Hangzhou Industrial & Commercial Trust (HTRUST): Privately held Chinese trust company focused on private equity and alternative-investment mandates. Compares on institutional asset management and securities-investment-trust products, though with a more regionally concentrated footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ping-an

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ping An Trust