大华继显：升友邦保险(01299)目标价至95港元 维持“买入”评级

Core Viewpoint - AIA Group's new business value for Q3 2025 is expected to grow by 27% in actual exchange rates, significantly exceeding the market expectation of 17% due to strong performance in mainland China and Hong Kong [1] Group 1: Business Performance - The annualized new premium growth rate accelerated to 15% [1] - The new business value margin increased by 6 percentage points to 58.2% [1] Group 2: Analyst Recommendations - Daiwa Capital Markets maintains a "Buy" rating for AIA Group [1] - The target price has been raised from HKD 91 to HKD 95 [1] - The significant outperformance in new business value is expected to lead to a positive stock price trend [1]