中國太平:2023年年報
CICC: Life insurance profits may exceed expectations, Chinese life insurance welcomes medium-term investment opportunities
Chinese life insurance currently has medium-term investment opportunities.
Changes in Hong Kong stocks | Insurance stocks rise, China's Taiping (00966) rises more than 6%. Institutions expect long-term interest rates to fall, and the asset side is expected to usher in marginal improvements
As of press release, China's Taiping (00966) rose 6.3% to HK$7.26, Ping An of China (02318) rose 3.78% to HK$35.7, and AIA (01299) rose 3.37% to HK$52.1.
Insurance stocks generally rose, and Ping An (601318.SH/2318.HK) H shares surged 5%! Sorting out the logic that institutions are optimistic about
Recently, with the introduction of the new “National Nine Rules” and the Securities Regulatory Commission's delisting opinions, the overall performance of the capital market has been enthusiastic, and there is no shortage of positive expectations for future bull markets.
Cainiao teamed up with China People's Insurance to establish a warehousing and logistics investment fund with an investment scale of 3 billion yuan
Jinwu Financial News | Cainiao released news that recently, Cainiao and People Insurance Capital jointly set up a warehousing and logistics equity investment fund to focus on investing in high-standard warehousing and logistics infrastructure in the Yangtze River Delta, Beijing-Tianjin-Hebei and other economic circles. The total assets invested by the fund are about 3 billion yuan. Cainiao and China People's Insurance Company cooperated for the first time to make a cornerstone investment in the fund. China Taiping (00966) and Shentong Express also participated in the investment.
Insurance stocks were collectively pressured, China's Taiping (00966) fell 4.1%, and institutions expect Q1 insurers' profit growth rate to remain under pressure
Jinwu Financial News | Insurance stocks were collectively pressured. AIA (01299) fell 4.55%, China Taiping (00966) fell 4.1%, Ping An of China (02318) fell 4%, China Life Insurance (02628) fell 2.7%, and Xinhua Insurance (01336) fell 2.37%. According to the news, Cathay Pacific Junan indicated that the 24Q1 equity market picked up in February-March after experiencing a pullback in January, but the increase was still below the 23Q1 level. It is expected that insurance companies will still have some pressure to include equity investment in FVTPL. Some companies benefit from grasping the theme of high-dividend assets, and investment performance is expected to be good
Insurance stocks were collectively pressured, and Xinhua Insurance (01336) fell 4.88%. Institutions say insurance valuations and positions are still at the bottom of history
Jinwu Financial News | Insurance stocks were collectively pressured. Xinhua Insurance (01336) fell 4.88%, China Financial Insurance (02328) fell 3.04%, China Taibao (02601) fell 3.03%, China Taiping (00966) fell 3.01%, China People's Insurance Group (01339) fell 2.73%, and China Life (02628) fell 2.54%. According to the Securities Times, according to statistics, under the new accounting standards, the five major A-share listed insurers China Insurance, China Life Insurance, China Ping An, China Taibao, and Xinhua Insurance in 2023 increased 5.6% year-on-year
Haitong Securities: The growth rate of life insurance premiums has increased significantly, and the monthly growth rate of industrial insurance has turned negative
The original premium income of personal insurance companies in February was +17% year-on-year, up 9pct from January; health insurance was +9% year-on-year, and the monthly growth rate of industrial insurance policies turned negative, but we are still optimistic about the long-term development of leading insurers.
CITIC Securities: Maintaining the “better than the market” rating in the life insurance industry favors leading companies in the long term
The Zhitong Finance App learned that CITIC Securities released a research report saying that looking at undervaluation+strong beta attributes in the short term and debt-side adjustments in the long term, maintaining the “better than the market” rating for the life insurance industry.
After the results, Southbound Capital continued to buy shares in China's Taiping (00966) net share ratio of over 11%
In the last 6 trading days, 4.204 million shares were net purchased, and the shareholding ratio increased from 10.91% to 11.03%.
Cathay Pacific Junan: Maintaining China's Taiping “Gain” Rating to Target Price of HK$9.61
Guotai Junan released a research report maintaining China's Taiping (00966) “gain” rating, with a target price of HK$9.61. The 2024-2026 EPS forecast was raised to HK$1.90 (previous value 1.49, +27.6%)/2.20 (previous value 1.91, +15.2%) /2.62 (previous value 2.24, +17.1%). Guotai Junan said that NBV is in line with expectations, and channel optimization in the industry is beneficial to stable performance: NBV was 26.0% (before HKD caliber assumption adjustment)/0.7% (after adjustment of HKD caliber assumption) in '23
Cathay Pacific Junan: Maintain China's Taiping (00966) “gain” rating to target price of HK$9.61
The Zhitong Finance App learned that Guotai Junan released a research report to maintain China's Taiping (00966) “gain” rating, with a target price of HK$9.61. The 2024-2026 EPS forecast was raised to HK$1.90 (previous value 1.49, +27.6%)/2.20 (previous value 1.91, +15.2%) /2.62 (previous value 2.24, +17.1%). Guotai Junan said that NBV is in line with expectations, and the industry's procyclical channel optimization is beneficial to stable performance: NBV was 26.0% compared to the same period in '23 (before adjustment of the HKD caliber assumption)/0.7% (Hong Kong
Haitong International: Maintaining China's Taiping “Better Than the Market” Rating Target Price of HK$11.5
Haitong International released a research report stating that it maintains China's Taiping (00966) “superior to the market” rating, with a target price of HK$11.5. The company announced its 2023 interim report results, with net profit of HK$5.22 billion, +20.5% year over year; Taiping Life NBV3.65 billion, +28.5% YoY; NBV Margin 12.2%; Taiping Life EV of HK$254.9 billion, +5% from the beginning of the year; and net assets of HK$82 billion. China Taiping insists on promoting the implementation of high-quality development strategies and continuing to lay out the construction of a health ecosystem. The bank is optimistic about its long-term development resilience. The bank mentioned that China
Nomura: Target price of HK$10.78 for China's Taiping “buy” rating
Nomura released a research report stating that it gave China Taiping (00966) a “buy” rating, with a target price of HK$10.78. The company's new business value, net profit, and earnings per share all reached double-digit growth in 2023. The value of the new business increased 28% year over year, up 13% from the bank's forecast; net profit increased 44% per year to HK$6.2 billion, with net assets of HK$79 billion, slightly higher than the bank's forecast. Dividends per share increased by 15% per year in 2023 to HK$0.3, reflecting a dividend ratio of 4.6%.
Nomura: Target price of HK$10.78 for China's Taiping (00966) “buy” rating
The Zhitong Finance App learned that Nomura released a research report stating that it gave China Taiping (00966) a “buy” rating, with a target price of HK$10.78. The company's new business value, net profit, and earnings per share all reached double-digit growth in 2023. The value of the new business increased by 28% year on year, higher than the bank's forecast of 13%; net profit increased 44% per year to HK$6.2 billion, with net assets of HK$79 billion, slightly higher than the bank's forecast. Dividends per share increased by 15% per share to HK$0.3 per year in 2023, reflecting a dividend ratio of 4.6%.
China Merchants Securities: China Taiping's 2023 performance surpassed expectations and the 24Q1 life insurance NBV growth rate is expected to be significantly superior to that of peers
According to the 2023 annual report recently released by China's Taiping (00966), after a period of adjustments, the company's performance showed clear signs of recovery. Net profit to mother reached HK$6.19 billion, an increase of 44.1% over the previous year. The China Merchants Securities non-bank analyst team commented that its performance far exceeded market expectations. Looking at the business sector, the life insurance business, as the core of China Taiping, accounts for 92% of net operating profit. The new business value (NBV) of the life insurance business reached 8.515 billion yuan, an increase of 27.8% over the previous year. This growth trend was outstanding among peers. China Merchants Securities emphasized, 2
Changes in Hong Kong stocks | China Taiping (00966) rose nearly 6% after earnings, net profit for the whole year increased by more than 44%, institutions say annual results far exceeded market expectations
China's Taiping (00966) rose nearly 6% after the results. As of press release, it rose 5.26% to HK$6.81, with a turnover of HK$22.471 million.
CICC: China's Taiping (00966) profit in 2023 was better than expected, with 47% room to rise
Although the impact of the new standard change is complex and difficult to compare with peers, Taiping's annual net profit increased 44% year over year to HK$6.19 billion, which still exceeded the bank's and market expectations
China Merchants Securities: China Taiping (00966)'s 2023 performance surpassed expectations, and the NBV growth rate of 24Q1 life insurance is expected to be significantly superior to that of peers
China Merchants Securities emphasized that a good start in 2024 is progressing smoothly, and the 24Q1NBV growth rate is expected to exceed 100%.
CHINA TAIPING To Go Ex-Dividend On July 10th, 2024 With 0.3 HKD Dividend Per Share
March 26th - $CHINA TAIPING(00966.HK)$ is trading ex-dividend on July 10th, 2024. Shareholders of record on July 11th, 2024 will receive 0.3 HKD dividend per share on July 23rd, 2024. The ex-divid
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