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<Research>BofAS: PING AN (02318.HK) Delivers Solid Overall Results; 1Q NP Slightly Beats
Recommend 11 Positive 19 Negative 5 |
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PING AN (02318.HK)'s 1Q26 net profit was RMB25 billion, down 7% YoY, slightly above BofA Securities' forecast of a 10% decline, BofA Securities issued a research report saying. Operating profit rose 8% YoY, while value of new business (VONB) hiked 21% YoY. First-year premiums (FYP) inclined by 46%. Its new business value margin fell from 28.3% in the same period last year to 23.5%, reflecting a higher proportion of participating products. The broker believed that, given the weak 1Q26 market, PING AN's overall results were solid. BofA Securities estimated the Group to maintain its sales momentum, with investment returns likely to improve in 2Q26. Therefore, the broker kept rating at Buy for the stock, with a target price of $74. Auto-translated by AI AASTOCKS Financial News |
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