Zhi Tong Cai Jing·2026-01-26 06:43Core Viewpoint - Huachuang Securities has issued a report predicting China Taiping's (00966) enterprise value per share (EVPS) for 2025 to 2027 at 56.9, 65.8, and 75.6 HKD respectively, with a target price of 29.6 HKD for 2026, maintaining a "Buy" rating [1] Financial Performance - The company expects its net profit attributable to shareholders for 2025 to increase by 215% to 225%, amounting to an annual performance of 26.6 billion to 27.4 billion HKD [1] - For the first half of 2025, the company has achieved a net profit of 6.8 billion HKD, representing a year-on-year growth of 12% [1] - The projected net profit for the second half of 2025 is estimated to be between 19.8 billion and 20.6 billion HKD, reflecting a year-on-year increase of 723% to 758% [1] Performance Drivers - The significant growth in performance is attributed to a low base effect, equity elasticity, and one-time tax impacts, with expectations of continued active equity contributing to performance elasticity in the first half of the year [1]