Core Viewpoint - UBS has raised the target price for China Ping An (02318) from HKD 60 to HKD 66, maintaining a "Buy" rating due to improved macro environment and reduced spread risks [1] Financial Performance - China Ping An is expected to announce its mid-year results at the end of August, with a forecasted year-on-year growth of 3.5% in after-tax operating profit (OPAT) [1] - The second quarter is projected to see an accelerated growth rate of 4.5%, compared to 2.4% in the first quarter, driven by the recovery in asset management and the rebound in fair value of bonds in property insurance due to declining interest rates [1] New Business Value - The new business value (VNB) for the second quarter is anticipated to grow by 43% year-on-year, with a total increase of 38% for the first half of the year, outperforming peers [1] Net Profit and Dividends - UBS forecasts a 5.9% increase in after-tax net profit (NPAT) for the second quarter [1] - The mid-term dividend is expected to slightly increase to RMB 0.94 per share, with an anticipated total annual dividend of RMB 2.63 per share, resulting in a dividend yield of 5.1%, the highest among peers [1]