Xin Lang Cai Jing·2025-12-05 05:48Group 1 - Morgan Stanley has added China Ping An to its focus list and maintains it as a top pick, raising the A-share target price from 70 CNY to 85 CNY and the H-share target price from 70 HKD to 89 HKD [1] - CITIC Securities indicates that the insurance industry is transitioning from a narrative of balance sheet recession to positive expansion, with a formal establishment of an upward cycle expected to strengthen further by 2026 [1] - The insurance sector is benefiting from low bond yield fluctuations and a slow bull market in the stock market, with a focus on companies with high policy value rates and fast new business value growth [1] Group 2 - As of December 5, 2025, the CSI 800 Securities Insurance Index has risen by 0.88%, with China Ping An up by 3.50% and other major insurers also showing positive performance [2] - The CSI 800 Securities Insurance Index is based on the CSI 800 Index, selecting corresponding securities within the insurance sector, providing investors with diversified investment options [2] - The top ten weighted stocks in the CSI 800 Securities Insurance Index account for 63.12% of the total index, with China Ping An being the largest component [2]