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<Research>BofAS Raises PING AN's TP to HKD67.5; NP Beats on Last Qtr's Strong Investment Returns
Recommend 52 Positive 64 Negative 31 |
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PING AN (02318.HK) announced a net profit of RMB132.9 billion for 1-3Q25, marking an 11% YoY increase, beating expectations, according to a BofA Securities report. The company's 3Q25 net profit grew by 45% YoY, mainly driven by strong investment returns, as both the CSI 300 Index and the ChiNext Index performed positively. The value of new life insurance business for 1-3Q25 also increased by 46% YoY. The new business profit margin rose from 17.6% to 25.2%, consistent with the trend in 1H25. The post-tax operating profit for 1-3Q25 leaped by 7% YoY. BofA Securities lifted its target price for PING AN by 4% from HKD64.8 to HKD67.5, with a rating reiterated as Buy. AAStocks Financial News |
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