Ge Long Hui·2025-11-10 07:31Core Viewpoint - Goldman Sachs updated its forecasts following the third-quarter performance announcement of China Pacific Insurance, raising the net profit forecast for fiscal year 2025 by 11% [1]. Financial Performance - The profit forecasts for fiscal years 2026 and 2027 were adjusted slightly upward by 2% to 3% [1]. - The book value growth in the third quarter was below expectations, leading to a 2% downward revision of shareholder equity forecasts for fiscal years 2025 to 2027 [1]. New Business Value - The new business value forecasts for fiscal years 2025 to 2027 were increased by 7% to 11%, reflecting a sustained expansion in profit margins for fiscal year 2025 and a positive outlook for new policy sales in fiscal years 2026 and 2027 [1]. Target Price and Rating - The target price was raised from HKD 32.5 to HKD 34, while maintaining a "Buy" rating [1].