招银国际：升中国平安目标价至71港元 评级“买入”

Core Viewpoint - China Ping An's (601318)(02318) after-tax operating profit for the first half of the year increased by 3.7% year-on-year to 77.7 billion RMB, with a 4.9% growth in the second quarter, meeting expectations [1] - The new business value surged by 39.8% year-on-year to 22.3 billion RMB, significantly exceeding expectations [1] - The target price has been raised from 65.1 HKD to 71 HKD, maintaining a "Buy" rating [1] Financial Performance - After-tax operating profit for the first half of the year: 77.7 billion RMB, up 3.7% year-on-year [1] - Second quarter growth: 4.9% year-on-year [1] - New business value: 22.3 billion RMB, up 39.8% year-on-year [1] Analyst Rating - Target price adjustment: from 65.1 HKD to 71 HKD [1] - Rating maintained: "Buy" [1]