智通财经网·2025-11-10 09:06Core Viewpoint - Goldman Sachs updated its forecasts for China Pacific Insurance (02601) following the release of its Q3 2025 earnings, reflecting a positive outlook on profitability and new business value despite some adjustments to shareholder equity predictions [1] Financial Performance - The net profit forecast for FY2025 was raised by 11% after incorporating better-than-expected investment income from Q3 [1] - Profit forecasts for FY2026 and FY2027 were slightly adjusted upwards by 2% to 3% [1] - The forecast for new business value for FY2025 to FY2027 was increased by 7% to 11%, indicating a sustained expansion in profit margins and a positive outlook for new policy sales in FY2026 and FY2027 [1] Shareholder Equity - The forecast for shareholder equity for FY2025 to FY2027 was reduced by 2% due to lower-than-expected growth in book value for Q3 2025 [1] Cost and Pricing - The comprehensive cost ratio forecast for the property and casualty insurance business for FY2025 was slightly adjusted upwards by 0.1 percentage points to 97.8% [1] Target Price and Rating - The target price for China Pacific Insurance was raised from HKD 32.5 to HKD 34, while maintaining a "Buy" rating [1]