Core Viewpoint - Prudential (02378.HK) announced a share buyback on January 26, 2023, involving an expenditure of £4.2993 million to repurchase 371,000 shares at a price range of £11.5 to £11.735 per share [1] Group 1 - The total amount spent on the share buyback was £4.2993 million [1] - The number of shares repurchased was 371,000 [1] - The price range for the repurchased shares was between £11.5 and £11.735 [1]

表格類別： 股票 狀態： 新提交 公司名稱： Prudential plc 保誠有限公司* (* 僅供識別) 呈交日期： 2026年1月26日 FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 02378 | 說明 | 普通股每股0.05英鎊 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | ...

Group 1 - The company Prudential (02378) announced a share buyback plan, intending to repurchase approximately 322,100 shares at a cost of about £3.7963 million [1]

Group 1 - The company Prudential (02378) announced a share buyback plan, intending to repurchase approximately 322,100 shares at a cost of about £3.7963 million [1]

Group 1 - The company Prudential (02378.HK) announced a share buyback on January 22, 2026, spending £3.7963 million to repurchase 322,100 shares [1] - The buyback price per share ranged from £11.705 to £11.88 [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： Prudential plc 保誠有限公司* (* 僅供識別) 呈交日期： 2026年1月23日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 不適用 | | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 02378 | 說明 | 普通股每股0.05英鎊 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | ...

Group 1 - The core viewpoint of the report is that Prudential (02378) is currently trading at 1.0x/0.8x 26e/27e P/EV, and the company maintains an outperform rating based on the positive impact of its joint venture in India on profitability [1] - The company announced that its joint venture with ICICI Bank, ICICI Prudential Asset Management Company Limited, completed its IPO on the National Stock Exchange of India, raising approximately $1.4 billion, which will be used to enhance shareholder returns [2] - A new stock buyback plan of $1.2 billion was announced, expected to be completed by December 18, 2026, with about $700 million coming from the IPO proceeds, continuing the previous $2 billion buyback plan [3] Group 2 - The company will have a new independent chairman, Sir Douglas Flint, starting May 2026, who has extensive experience in wealth management and asset management, suggesting a potential shift in strategic direction and financial goals [4] - The company reported a 13% year-on-year increase in new business profit (NBP) for the first nine months of 2025 at constant exchange rates, with double-digit growth in Hong Kong and mainland China business in Q3 2025, indicating a strong growth outlook for the mainland insurance market [5]

Group 1 - The core viewpoint of the report is that Prudential (02378) is currently trading at 1.0x/0.8x 26e/27e P/EV, and the firm maintains an outperform rating based on the positive impact of the IPO of its joint venture in India on earnings [1] - The company announced that its joint venture with ICICI Bank, ICICI Prudential Asset Management Company Limited, completed its IPO on the National Stock Exchange of India, raising approximately $1.4 billion, which will be used to enhance shareholder returns [2] - A new stock buyback plan of $1.2 billion was announced, expected to be completed by December 18, 2026, with about $700 million coming from the IPO proceeds, continuing the previous $2 billion buyback plan completed in 2025 [3] Group 2 - The company is set to have a new independent chairman, Sir Douglas Flint, starting in May 2026, who has extensive experience in wealth management and asset management, suggesting a potential shift in strategic direction and financial goals [4] - The company reported a 13% year-on-year increase in new business profit (NBP) for the first nine months of 2025 at constant exchange rates, with double-digit growth in both Hong Kong and mainland China businesses in Q3 2025, indicating a strong growth outlook for the mainland insurance market [5]

新单保费增速不及预期；美债利率和资本市场大幅波动；海外金融风险事件。 关注董事会独立主席换届后的战略方向。公司此前公告DouglasFlint爵士将于2026 年5 月接任公司非执 行董事和董事会主席，其曾担任汇丰集团、Aberdeen Group plc和IP Group plc主席，在财富管理、资产 管理等领域均有丰富经验，建议关注其上任后的战略方向、财务目标及投资者预期的可能变化。 重申看好中国大陆业务发展。公司9M25 新业务利润（NBP）在固定汇率（CER）下同比+13%，其中 3Q25 中国香港、中国大陆业务NBP均录得两位数增长。我们重申此前判断，中国大陆保险业正迈入黄 金发展期，在"存款搬家"和客群升级背景下，公司中国大陆业务有望继续维持较快增长。 盈利预测与估值 保诚当前交易于1.0x/0.8x 26e/27e P/EV。我们维持公司跑赢行业评级不变，基于印度合资公司上市对盈 利影响，我们上调公司25e EPS 1.8%至1.06 美元；我们看好公司中国大陆业务发展和新任董事会主席给 公司未来经营带来的积极变化，上调公司26eEPS 9.5%至1.24 美元，首次引入27e EPS 1.44 ...

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