Ge Long Hui A P P·2025-09-11 02:39Core Viewpoint - Goldman Sachs reports that China Pacific Insurance has announced the issuance of HKD 15.556 billion zero-coupon convertible bonds maturing in 2030, indicating the company's opportunity to raise equity capital due to the stock price increase and low-cost financing over the past 12 months [1] Group 1: Company Financials - The core insurance subsidiaries of China Pacific Insurance (China Pacific Life and China Pacific Property) do not have immediate capital needs, with solvency ratios of 136% and 196% respectively in the first half of the year [1] - The additional capital from the bond issuance is expected to provide the company with greater flexibility in capital management amid uncertainties in long-term bond yields [1] Group 2: Analyst Ratings - Goldman Sachs maintains a "Neutral" rating on the company, with a target price of HKD 30.5 for its H-shares [1]