Resilient DPS despite OPAT decline; EV assumptions change cut VNB more than expected

27 Mar 2024 PLEASE READ THE ANALYST CERTIFICATION AND IMPORTANT DISCLOSURES ON LAST PAGE MORE REPORTS FROM BLOOMBERG: RESP CMBR OR http://www.cmbi.com.hk1 | --- | --- | --- | --- | --- | --- | |--------------------------|---------|--------|---------|---------|---------| | (YE 31 Dec) | FY22A | FY23A | FY24E | FY25E | FY26E | | Net profit (RMB mn) | 111,008 | 85,665 | 123,014 | 139,361 | 152,730 | | EPS (Reported)(RMB) | 4.8 | 4.8 | 6.9 | 7.9 | 8.6 | | Consensus (RMB) | n.a | n.a | 6.8 | 7.8 | 8.4 | | Group ...