Ge Long Hui·2025-08-29 05:02Core Viewpoint - UBS report indicates that China Pacific Insurance's net profit for the first half of the year grew by 11% year-on-year, surpassing market expectations of a 2% to 9% increase [1] Financial Performance - Operating profit increased by 7.1%, slightly above UBS's forecast of 6% growth [1] - New business value for the first half of the year rose by 32% year-on-year, in line with expectations [1] Market Trends - The growth of new business value slowed in the second quarter on a comparable basis, attributed to a quarterly slowdown in first-year premium growth, although performance remains strong [1] Valuation Adjustments - Following the recent rise in China Pacific Insurance's stock price, UBS raised its intrinsic value forecast for 2025 by 5% and adjusted the target price from HKD 37 to HKD 41, maintaining a "Buy" rating [1]