Workflow
大行评级|星展:重申中国平安“买入”评级 预计上半年新业务价值增长强劲
Ge Long Hui·2025-08-04 02:58

Core Viewpoint - DBS expects China Ping An's new business value (VNB) to increase in the first half of the year, driven by strong sales of participating products, particularly through the bank insurance channel [1] Group 1: Business Performance - The sales of participating products are expected to remain robust, contributing to the growth of VNB [1] - The marginal profit margin is also anticipated to improve slightly [1] Group 2: Investment Outlook - The investment income and asset portfolio outlook for the company is optimistic [1] - The comprehensive cost ratio for property and casualty (P&C) business is expected to improve significantly year-on-year [1] Group 3: Company Ratings - DBS maintains a "Buy" rating for China Ping An, considering it a preferred choice among Chinese insurance stocks [1] - The target price for H-shares is set at HKD 69, while the target price for A-shares is set at CNY 68.41, reflecting a 15% premium [1]