(Yicai Global) March 13 -- Shares in Ping An Insurance Group have resisted a declining Chinese market so far today, gaining 3.18 percent after its 2018 earnings beat forecasts.

The Shenzhen-based firm's stock [SHA:601318;HKG:2318] was trading at CNY71.55 (USD10.65) a share  as of 2.41 p.m. in Shanghai, and HKD84.3 (USD10.74) apiece in Hong Kong, up 1.93 percent as of 2.27 p.m.

Its performance far outstrips the Shanghai Composite Index, Shenzhen Component Index and ChiNext Price Index, which were down 0.79 percent, 2.61 percent and 4.51 percent.

Ping An announced yesterday that net profit grew 20.5 percent in 2018 to CNY120.5 billion (USD18 billion), beating expectations. The company also increased its cash dividend payout for the 10th straight year, proposing a final payout of CNY1.10 (16 US cents) per share to take total ordinary dividends for the year to CNY1.72 a share.

On top of that, it offered a special 30th anniversary dividend of CNY0.20 for each share held, announced in the first quarter of 2018, meaning shareholders would receive a total CNY1.92 for each share held, 28 percent more than last year.

Editor: James Boynton