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<Research>Citi: AIA Strong in New Biz Regions in Mainland CN in 3Q; TP $99, Rating Buy
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Citi’s report indicated that AIA (01299.HK) recorded a 100% YoY upsurge in 3Q VoBN across nine new business regions in mainland China. Among these, four regions, including Anhui, Shandong, Chongqing, and Zhejiang, only commenced operations in April 2025. Management attributed the rapid expansion in these regions to a sufficient reserve of agents, relatively affluent local populations, accumulated company experience, and contributions from banking channels. In the Hong Kong market, the 3Q VoBN hiked by 40% YoY. AIA's management explained that this was mainly due to considerable contributions from both agents and banking channels. The broker assigned a target price of $99 and a Buy rating for AIA. AASTOCKS Financial News Website: www.aastocks.com |
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