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<Research>CMBI Hikes PING AN (02318.HK) TP to $75; 3Q Earnings Beat
Recommend 8 Positive 25 Negative 5 |
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CMB International's research report covered PING AN (02318.HK), which saw its net profit for 1-3Q25 lift by 11.5% YoY to RMB133 billion, with 3Q25 growth reaching 45.4%, surpassing the broker's expectation of RMB129 billion. The NBV for 1-3Q25 mounted 46.2% to RMB35.7 billion, with 3Q25 growth at 58.3%, thanks to strong growth in agency and bancassurance channels. Considering improved investment income, easing drag from the asset management segment, and strengthened intra-group synergies, the broker raised its EPS forecasts for 2025-27 by 9%/ 4%/ 5% to RMB8/ RMB8.3/ RMB9.2, and increased the target price from HKD71 to HKD75, reiterating its Buy rating. AASTOCKS Financial News Website: www.aastocks.com |
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