Core Viewpoint - The article highlights the potential of value investing, particularly focusing on Ping An Insurance Co. of China (PNGAY) as a strong value stock opportunity due to its favorable valuation metrics and earnings outlook [2][4][6]. Company Analysis - Ping An Insurance Co. of China (PNGAY) currently holds a Zacks Rank of 1 (Strong Buy) and an A grade for Value, indicating strong investment potential [4]. - The stock is trading at a P/E ratio of 4.40, significantly lower than the industry average P/E of 8.26, suggesting it may be undervalued [4]. - Over the past 12 months, PNGAY's Forward P/E has fluctuated between a high of 5.77 and a low of 3.68, with a median of 4.62, further indicating its valuation dynamics [4]. Valuation Metrics - The P/S ratio for PNGAY is 0.53, compared to the industry average P/S of 0.95, reinforcing the notion that the stock is undervalued [5]. - These valuation metrics, including P/E and P/S ratios, suggest that PNGAY is likely being undervalued in the current market [6].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2024年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中国平安保险（集团）股份有限公司 呈交日期: 2024年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601318 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,762,657,695 | RMB | | | 1 RMB | | 10,762,657,695 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 10,762,657,695 | RMB | | | 1 RMB | | 10,762,657,695 | | ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price of HKD 51.00, indicating a potential upside of 48.9% from the current price of HKD 34.25 [1][3][10]. Core Insights - The company is expected to face pressure on performance in the first half of 2024, but its valuation remains attractive. The new business value is projected to grow by 12% year-on-year, primarily driven by an increase in the new business value rate [1][2]. - The report highlights a decline in new individual insurance premiums by 5.2% year-on-year in the first half of 2024, with a slight improvement in the new business value rate to 23.1% in the second quarter [1][2]. - The company plans to issue USD 3.5 billion in 5-year convertible bonds, which will provide investors with the option to convert to shares, thereby reducing financing costs and having a limited dilution effect [3][6]. Financial Performance Summary - The expected comprehensive cost ratio for the property and casualty insurance segment is 99.4%, reflecting a year-on-year increase of 1.4 percentage points due to a slowdown in auto insurance growth and natural disaster impacts [2][6]. - The report anticipates a 3% year-on-year decline in operating profit attributable to the parent company (OPAT) for the first half of 2024, with a more significant decline of 18% in the property insurance segment [2][6]. - The net profit for the first half of 2024 is expected to decrease by 2% year-on-year, with a potential recovery in profit growth in the second half of the year [2][6]. Business Segment Insights - The life and health insurance segment is projected to maintain stable performance, while the property insurance segment is expected to see a significant decline in profits due to concentrated underwriting losses from credit guarantee insurance [2][6]. - The new business value for the life insurance segment is expected to reach RMB 96 billion, reflecting a 2% year-on-year increase, with the new business value rate improving to 22.9% [1][6][7]. Valuation Metrics - The company currently has a dividend yield exceeding 7%, and the report suggests a high certainty of a year-on-year recovery in operating profit for 2024 [3][6]. - The report provides updated forecasts for key financial metrics, including a projected net profit of RMB 94.825 billion for 2024, which is a 3.5% decrease from previous estimates [7][13].

香港交易及結算所有限公司及香港聯合交易所有限公司對本聯合公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本聯合公告全部或任何部分內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 聯合公告 本聯合公告僅供參考，並不構成收購、購買或認購陸金所證券的邀請或要約，亦並非在任何司 法管轄區徵集任何表決或批准。本聯合公告不得在任何司法管轄區發佈、刊載或派發，否則將 構成違反該司法管轄區的相關法律。 倘本聯合公告所提述陸金所要約在美國作出，則是由聯合要約人直接作出。本聯合公告所提述 由摩根士丹利代表聯合要約人作出的陸金所要約應據此詮釋。 （於中華人民共和國註冊成立之股份有限公司） 股份代號：2318（港幣櫃台）及 82318（人民幣櫃台） 安科技術有限公司 （於香港註冊成立的有限公司） 中國平安保險海外（控股）有限公司 （於香港註冊成立的有限公司） (1) 摩根士丹利為及代表聯合要約人作出可能的強制性無條件現金要約 （由選擇陸金所特別股息觸發） (I) 以收購所有已發行陸金所股份及陸金所美國存託股份以及根據陸金 所以股代息計劃、陸金所2014年股份激勵計劃及陸金所2019年績效股 份 ...

One company value investors might notice is Ping An Insurance Co. of China (PNGAY) . PNGAY is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. The stock has a Forward P/E ratio of 4.69. This compares to its industry's average Forward P/E of 8.84. PNGAY's Forward P/E has been as high as 5.77 and as low as 3.68, with a median of 4.68, all within the past year. Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 本公告僅供參考，並不構成提呈收購、購買或認購任何證券的要約邀請或招攬，或訂立進行該 等收購、購買或認購的協議之邀請，且本公告並不旨在邀請收購、購買或認購任何證券之要 約。 本公告不會直接或間接於或向美國（包括美國的領土及屬地、任何州以及哥倫比亞特區）發佈。 本公告及其包含的信息並不構成在美國境內購買、認購或出售證券的任何要約或要約邀請或招 攬或其組成部分。本公告中所述的證券並無亦不會根據1933年美國《證券法》（經修訂）（「《證券 法》」）進行登記，亦不得於美國境內發售或出售，惟獲豁免或毋須遵守《證券法》登記規定的交 易除外。本公告中所述的證券將根據《證券法》S規例在美國境外發售和出售。本公告中所述的 證券並無亦不會於美國境內或該等發售受到限制或禁止的其他司法管轄區境內進行公開發售。 本公告或其中包含的信息沒有招攬任何金錢、證券或其他對價，並且任何基於本公告或其包含 的信息而發出的任何金錢、證券或其他對 ...

证券代码：601318 证券简称：中国平安 公告编号：临 2024-043 特此公告。 中国平安保险（集团）股份有限公司（以下简称"本公司"）董事会及全体董事保 证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真 实性、准确性和完整性承担法律责任。 根据本公司于 2024 年 7 月 16 日在上海证券交易所网站（www.sse.com.cn） 披露的《中国平安保险（集团）股份有限公司拟根据一般性授权发行 H 股可转换 债券的公告》，本公司拟发行本金总额为 35 亿美元 0.875%利率 2029 年到期的可 转换为本公司 H 股股份的债券（以下简称"H 股可转换债券"）。 H 股可转换债券认购协议中的所有先决条件均已达成，H 股可转换债券已于 2024 年 7 月 22 日完成发行，并将于 2024 年 7 月 23 日在香港联合交易所有限公 司上市和交易。后续本公司将根据中国证券监督管理委员会的相关规定及时履行 H 股可转换债券发行的相关备案程序。 中国平安保险（集团）股份有限公司 关于 H 股可转换债券发行完成以及 在香港联合交易所有限公司上市的公告 中国平安保险（集团）股份有限公司 ...

Investment Rating - The report maintains an "Accumulate" rating for China Ping An (601318) with a target price of 58.98 CNY per share, unchanged from the previous rating [2][4]. Core Views - The report anticipates a recovery in investment income, leading to an improvement in net profit on a quarter-on-quarter basis. The operational profit is expected to benefit from the alleviation of asset management impairment pressures and improvements in both life and property insurance sectors [3][4]. Summary by Sections Financial Performance - The report forecasts a year-on-year increase of 6.0% in net profit attributable to shareholders for the first half of 2024, with a quarter-on-quarter turnaround from negative to positive in Q1 2024. The operational profit for the group is expected to grow by 1.4% year-on-year, with life insurance operational profit increasing by 2.5% [4][9]. - The report projects the earnings per share (EPS) for 2024-2026 to be 6.17, 7.57, and 8.77 CNY respectively [4]. Business Segments - The new business value (NBV) is expected to grow by 12.3% year-on-year in H1 2024, primarily due to improvements in the new business value rate, despite a slight pressure on new policies due to a high base from the previous year. The life insurance premium is projected to increase by 5.0% year-on-year, with new policy premiums declining by 5.2% [4][9]. - Property insurance premiums are expected to grow slowly, with a year-on-year increase of 4.1% in H1 2024. The combined ratio (COR) is anticipated to improve slightly, with a forecasted COR of 99.2% [4][9]. Market Data - The report notes that the stock price has fluctuated between 37.78 and 52.60 CNY over the past 52 weeks, with a total market capitalization of 783.586 billion CNY [5]. - The current price of the stock is 43.03 CNY, indicating potential upside to the target price [2][5]. Financial Projections - The projected operating revenue for 2024 is 941.703 billion CNY, with a net profit attributable to shareholders expected to reach 112.437 billion CNY [9][10]. - The report highlights a projected net asset value per share of 51.64 CNY for 2024, with a price-to-earnings (P/E) ratio of 6.89 based on the current price [10].

现将本公司 2024 年度长期服务计划的购股进展公告如下： 截至本公告日期，本公司 2024 年度长期服务计划尚未实施购股。本公司后 续将根据 2024 年度长期服务计划实施方案完成股票购买，并及时履行信息披露 义务。 特此公告。 中国平安保险（集团）股份有限公司董事会 2024 年 7 月 19 日 证券代码：601318 证券简称：中国平安 公告编号：临 2024-042 中国平安保险（集团）股份有限公司 关于 2024 年度长期服务计划购股进展的公告 中国平安保险（集团）股份有限公司（以下简称"本公司"）董事会及全体董事 保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的 真实性、准确性和完整性承担法律责任。 本公司第十二届董事会第二十二次会议审议通过了《关于审议 2024 年度长 期服务计划参与情况的议案》（以下简称"2024 年度长期服务计划"）。 ...

证券代码：601318 证券简称：中国平安 公告编号：临 2024-040 中国平安保险（集团）股份有限公司 2023 年年度分红派息实施公告 中国平安保险（集团）股份有限公司（以下简称"本公司"）董事会及全体董事保证本公告内 容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性 承担法律责任。 重要内容提示： 每股分配比例 每股派发现金红利人民币 1.50 元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2024/7/25 | － | 2024/7/26 | 2024/7/26 | 差异化分红送转： 是 一、 通过分配方案的股东大会届次和日期 本公司 2023 年年度分红派息实施方案（以下简称"本次分红派息"）经本公司 2024 年 5 月 30 日召开的 2023 年年度股东大会审议通过。 二、 分配方案 截至 A 股股权登记日 2024 年 7 月 25 日下午上海证券交易所收市后，在中国证券登记结 算有限责任公司上海分公司（以下简称"中 ...