Zhi Tong Cai Jing·2026-03-03 07:44Core Viewpoint - UBS reports that Ping An Insurance (601318)(02318) plans to announce its 2025 results after market close on March 26, with an expected 9% year-on-year increase in net operating profit attributable to shareholders, indicating a 23% growth in Q4 year-on-year [1] Group 1: Financial Performance - UBS expects a 5% year-on-year increase in net profit attributable to shareholders for the full year 2025 [1] - The estimated total dividend for 2025 is projected to be RMB 2.68 per share, reflecting a 5% year-on-year growth [1] - The asset value is anticipated to grow by 7% year-on-year, indicating moderate quarter-on-quarter growth in Q4 [1] Group 2: Business Growth - UBS forecasts a 30% year-on-year growth in new business value for the full year 2025 [1] - The company is expected to achieve a new business value growth of 25% to 30% in Q1 2026, with an 18% growth forecast for the entire year 2026, positioning it at an industry-leading level [1] - The report highlights that participating policies present lower interest rate risk and profit volatility compared to traditional products [1] Group 3: Strategic Positioning - UBS believes that Ping An is well-positioned to capture opportunities from deposit migration and bancassurance collaboration due to its scale advantages, such as brand strength and bargaining power with banks [1]