Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research> HSBC Research Raises CPIC (02601.HK) TP to HKD44, Maintains Buy
Recommend 3 Positive 1 Negative 1 |
||||
|
||||
|
HSBC Research issued a report noting that CPIC (02601.HK) recorded a 9.6% YoY increase in value of new business in 1Q26, lagging behind China Ping Ans 21% growth, but reflecting the companys shift toward a value-driven growth strategy. First-year premiums declined 8.2%, with single-premium policies plunging 30%. During the period, net profit rose 4.3% YoY, while excluding one-off items it fell 1.1%. Group operating profit increased 3.6% YoY, demonstrating stronger earnings resilience than peers amid stock market volatility. HSBC Research holds a positive view on CPICs value-oriented strategy in agency and bancassurance channels. Although short-term growth in value of new business may trail peers, it should support more sustainable long-term growth. The broker raised its earnings forecast for CPIC this year by 30%. The TP for CPICs H shares was lifted from HKD43 to HKD44, while the TP for its A shares was lowered from RMB57 to RMB56. Buy ratings were maintained for both share classes. (ec/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
