not vested
PING AN(2318)
Analysis：
The company is one of the largest financial and insurance groups in China and has grown into a Chinese insurance giant.
Its business scope covers insurance, banking, securities, technology and other sectors.
The average ROE in the past ten years has reached 17.8%, and its profitability is significantly stronger than peers.
Through integrated finance, medical and health ecology and digital technology, the company has formed a complete pension service system of "insurance + health management", "insurance + home care", and "insurance + quality health care".
The results of the company's life insurance reform are gradually released. It is expected that the recovery of insurance demand will help drive the company's continued growth with the improvement of the macro economy.
In addition, the policy of real estate industry tends to be looser, and the resolution of industry risks will help promote the revaluation of the company's asset value.
Strategy：
Buy-in Price: $56.05, Target Price: $61.00, Cut Loss Price: $51.66
Source: Phillips
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Ping An 2318
Re: Ping An 2318
by winston » Mon Jul 31, 2023 4:35 pm
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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- Joined: Wed May 07, 2008 9:28 am
Re: Ping An 2318
by winston » Mon Aug 21, 2023 11:09 am
vested
2Q likely FY23F’s strongest quarter
We expect 2Q23F’s 50% yoy NBV growth, with a 57% yoy growth in FYP, to have offset the lower NBV margin from a higher mix of saving products.
2Q23F OPAT was likely under pressure due to 2Q22’s high base, a decline in renewal premiums in life insurance, and profitability issues for CGI in P&C.
Ping An Bank’s slower earnings growth and weaker revenue for asset management and technology likely dragged down 2Q23F OPAT and NPAT.
Reiterate Add rating, with an unchanged SOP-based TP of HK$80.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 1C85583B64
2Q likely FY23F’s strongest quarter
We expect 2Q23F’s 50% yoy NBV growth, with a 57% yoy growth in FYP, to have offset the lower NBV margin from a higher mix of saving products.
2Q23F OPAT was likely under pressure due to 2Q22’s high base, a decline in renewal premiums in life insurance, and profitability issues for CGI in P&C.
Ping An Bank’s slower earnings growth and weaker revenue for asset management and technology likely dragged down 2Q23F OPAT and NPAT.
Reiterate Add rating, with an unchanged SOP-based TP of HK$80.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 1C85583B64
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 118906
- Joined: Wed May 07, 2008 9:28 am
Re: Ping An 2318
by winston » Wed Aug 30, 2023 7:30 am
vested
China's Ping An Insurance first-half profit falls 1.2%, retail business weakens
Source: Reuters
https://www.businesstimes.com.sg/compan ... ss-weakens
China's Ping An Insurance first-half profit falls 1.2%, retail business weakens
PING An Insurance (Group) Co of China on Tuesday (Aug 29) reported a 1.2 per cent drop in first-half net profit.
The insurance giant posted a net profit of 69.84 billion yuan (S$12.9 billion), down from 70.73 billion a year earlier, it said in a filing.
Source: Reuters
https://www.businesstimes.com.sg/compan ... ss-weakens
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 118906
- Joined: Wed May 07, 2008 9:28 am
Re: Ping An 2318
by winston » Wed Aug 30, 2023 7:48 am
vested
Profit dips for insurance giant in tough market
by Themis Qi
China's largest insurer Ping An Insurance (2318) yesterday said its first-half net profit dipped 1.2 percent yearly to 69.8 billion yuan (HK$75.1 billion), partly due to market volatility.
Operating profit for the first six months of the year fell 5 percent year-on-year to 82 billion yuan as the annualized operating return on equity contracted by 3 percentage points to 18.2 percent.
The insurer attributed the decline to the short-term market volatility in the first half.
Its major business, life and health insurance, fell 1.7 percent yearly to 58.6 billion yuan, as the operating return on equity shrank 5.6 points to 35.6 percent.
The value of new business in the first half, however, jumped 32.6 percent year-on-year to 26 billion yuan.
Property and casualty insurance products recorded 9.3 billion yuan in net profit, up by 7.4 percent from one year ago, as Chinese residents turned conservative amid concerns about the economic downturn.
The banking business showed strong growth, with the net profit rising by 14.9 percent year-on-year to 25.4 billion yuan. The net interest income decreased 2.2 percent yearly to 62.6 billion yuan, as the annualized net interest margin dropped 0.21 points to 2.55 percent.
Notably, Ping An's individual savings expanded 10.9 percent yearly to 1.1 trillion yuan by the end of June, while corporate deposits slid 1.9 percent to 2.2 trillion yuan.
As the mainland developer crisis triggered fears, Ping An increased its provisions with the coverage ratio rising by 1.23 points in six months to 291.5 percent by the end of June. And the non-performing loans ratio edged down 0.02 points to 1.03 percent.
However, the first-half profit of asset management business slumped 62.3 percent yearly to nearly 2 billion yuan and the operating profit of the tech business dived 57.6 percent to 2.3 billion yuan over the same period.
Source: The Standard
https://www.thestandard.com.hk/section- ... ugh-market
Profit dips for insurance giant in tough market
by Themis Qi
China's largest insurer Ping An Insurance (2318) yesterday said its first-half net profit dipped 1.2 percent yearly to 69.8 billion yuan (HK$75.1 billion), partly due to market volatility.
Operating profit for the first six months of the year fell 5 percent year-on-year to 82 billion yuan as the annualized operating return on equity contracted by 3 percentage points to 18.2 percent.
The insurer attributed the decline to the short-term market volatility in the first half.
Its major business, life and health insurance, fell 1.7 percent yearly to 58.6 billion yuan, as the operating return on equity shrank 5.6 points to 35.6 percent.
The value of new business in the first half, however, jumped 32.6 percent year-on-year to 26 billion yuan.
Property and casualty insurance products recorded 9.3 billion yuan in net profit, up by 7.4 percent from one year ago, as Chinese residents turned conservative amid concerns about the economic downturn.
The banking business showed strong growth, with the net profit rising by 14.9 percent year-on-year to 25.4 billion yuan. The net interest income decreased 2.2 percent yearly to 62.6 billion yuan, as the annualized net interest margin dropped 0.21 points to 2.55 percent.
Notably, Ping An's individual savings expanded 10.9 percent yearly to 1.1 trillion yuan by the end of June, while corporate deposits slid 1.9 percent to 2.2 trillion yuan.
As the mainland developer crisis triggered fears, Ping An increased its provisions with the coverage ratio rising by 1.23 points in six months to 291.5 percent by the end of June. And the non-performing loans ratio edged down 0.02 points to 1.03 percent.
However, the first-half profit of asset management business slumped 62.3 percent yearly to nearly 2 billion yuan and the operating profit of the tech business dived 57.6 percent to 2.3 billion yuan over the same period.
Source: The Standard
https://www.thestandard.com.hk/section- ... ugh-market
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 118906
- Joined: Wed May 07, 2008 9:28 am
Re: Ping An 2318
by winston » Wed Aug 30, 2023 10:48 am
Ping An Insurance
86% 2Q23 NBV growth – where next?
2Q23’s life NBV growth of 86% yoy (adjusted for assumption changes) was very impressive — the strongest quarterly growth yoy since at least 1Q17.
We believe this may raise questions around sustainability and changes of strategy in 2H23F, as well as high base effects for 2Q24F’s NBV growth.
2Q23 P&C combined ratio fell yoy by 20bp, a turnaround from 1Q23’s 200bp rise, with this improvement driven by credit guarantee insurance, in our view.
Reiterate Add rating, with an unchanged SOP-based TP of HK$80.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 47E9793DC2
86% 2Q23 NBV growth – where next?
2Q23’s life NBV growth of 86% yoy (adjusted for assumption changes) was very impressive — the strongest quarterly growth yoy since at least 1Q17.
We believe this may raise questions around sustainability and changes of strategy in 2H23F, as well as high base effects for 2Q24F’s NBV growth.
2Q23 P&C combined ratio fell yoy by 20bp, a turnaround from 1Q23’s 200bp rise, with this improvement driven by credit guarantee insurance, in our view.
Reiterate Add rating, with an unchanged SOP-based TP of HK$80.
Source: CIMB
https://rfs.cgs-cimb.com/api/download?f ... 47E9793DC2
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 118906
- Joined: Wed May 07, 2008 9:28 am
Re: Ping An 2318
by winston » Mon Sep 04, 2023 8:49 am
not vested
Ping An Insurance to focus on medical, healthcare industry for growth as China’s ageing population worsens, co-CEO says
‘The elderly care and the healthcare ecosystem are the new focus for our company,’ co-CEO Tan says in interview
Some 25 million customers tapped into its insurance and financial ecosystem in the first half of 2023, paying 3 billion yuan (US$413 million) for extra services
by Enoch Yiu
Source: SCMP
https://www.scmp.com/business/article/3 ... ee0e78d382
Ping An Insurance to focus on medical, healthcare industry for growth as China’s ageing population worsens, co-CEO says
‘The elderly care and the healthcare ecosystem are the new focus for our company,’ co-CEO Tan says in interview
Some 25 million customers tapped into its insurance and financial ecosystem in the first half of 2023, paying 3 billion yuan (US$413 million) for extra services
by Enoch Yiu
Source: SCMP
https://www.scmp.com/business/article/3 ... ee0e78d382
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 118906
- Joined: Wed May 07, 2008 9:28 am
Re: Ping An 2318
by winston » Tue Oct 03, 2023 10:55 am
not vested
JPM: PING AN (02318.HK) Co-CEO Changes; Any Shr Weakness Is Buying Opportunity
2023/09/28
JPMorgan noted in a report that PING AN (02318.HK)Co-CEO Jessica Tan has resigned and will be replaced by Guo Xiaotao, currently Chief HR Officer.
Drawing on the experience of the past 15 years of senior management changes at insurance companies in China and Asia, the broker says the change may create uncertainty for the investor community, which is looking for trust in the new co-CEO after they demonstrate an ability to grow the business and enhance the company's value.
The broker commented that PING AN's core solvency ratio, which was maintained at a sufficient level of 169% at the end of June, supports business and dividend payout growth.
The life insurance business will continue to recover as it benefits from the completion of reforms.
The current valuation, at 5x FY24 P/E and 6.3% projected dividend yield, is not too expensive.
With the life insurance business maintaining steady growth, it would be a good opportunity to collect the shares if the price weakens.
Related News: JPM Expects HK Mkt Rebound in 4Q23, Maintains Bullish View on CN Mkt
JPMorgan rated PING AN Overweight with a target price of $77.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
JPM: PING AN (02318.HK) Co-CEO Changes; Any Shr Weakness Is Buying Opportunity
2023/09/28
JPMorgan noted in a report that PING AN (02318.HK)Co-CEO Jessica Tan has resigned and will be replaced by Guo Xiaotao, currently Chief HR Officer.
Drawing on the experience of the past 15 years of senior management changes at insurance companies in China and Asia, the broker says the change may create uncertainty for the investor community, which is looking for trust in the new co-CEO after they demonstrate an ability to grow the business and enhance the company's value.
The broker commented that PING AN's core solvency ratio, which was maintained at a sufficient level of 169% at the end of June, supports business and dividend payout growth.
The life insurance business will continue to recover as it benefits from the completion of reforms.
The current valuation, at 5x FY24 P/E and 6.3% projected dividend yield, is not too expensive.
With the life insurance business maintaining steady growth, it would be a good opportunity to collect the shares if the price weakens.
Related News: JPM Expects HK Mkt Rebound in 4Q23, Maintains Bullish View on CN Mkt
JPMorgan rated PING AN Overweight with a target price of $77.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 118906
- Joined: Wed May 07, 2008 9:28 am
Re: Ping An 2318
by winston » Mon Oct 30, 2023 6:43 am
not vested
China’s Ping An Insurance posts 19.6% fall in Q3 profit
PING An Insurance (Group) of China posted a 19.6 per cent annual drop in third-quarter net profit, the insurance giant reported on Friday (Oct 27).
The group posted a net profit of 17.73 billion yuan (S$3.3 billion) according to a Reuters calculation, versus 22.06 billion yuan a year earlier.
For the nine months ended September, Ping An reported a 5.6 per cent decline in its net profit from a year earlier.
The group’s number of retail customers rose 1.5 per cent from a year earlier to 229.93 million at the end of September, the filing showed.
The insurer reported 86.76 billion yuan in operating profits of its life and health insurance business in the first nine months, down 1.3 per cent year on year.
Source: Business Times
https://www.businesstimes.com.sg/compan ... -q3-profit
China’s Ping An Insurance posts 19.6% fall in Q3 profit
PING An Insurance (Group) of China posted a 19.6 per cent annual drop in third-quarter net profit, the insurance giant reported on Friday (Oct 27).
The group posted a net profit of 17.73 billion yuan (S$3.3 billion) according to a Reuters calculation, versus 22.06 billion yuan a year earlier.
For the nine months ended September, Ping An reported a 5.6 per cent decline in its net profit from a year earlier.
The group’s number of retail customers rose 1.5 per cent from a year earlier to 229.93 million at the end of September, the filing showed.
The insurer reported 86.76 billion yuan in operating profits of its life and health insurance business in the first nine months, down 1.3 per cent year on year.
Source: Business Times
https://www.businesstimes.com.sg/compan ... -q3-profit
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 118906
- Joined: Wed May 07, 2008 9:28 am
Re: Ping An 2318
by winston » Mon Oct 30, 2023 10:21 am
not vested
Ping An Insurance Group (2318 HK)
3Q23: Results In Line; NBV Continuing Its Recovery Path
Ping An’s 9M23 results were in line, with NBV growing more than 40% yoy and margins improving.
The operating and net profit declined by 9.8% and 5.6% yoy as higher underwriting cost due to natural disasters and weaker investment environments weighed on its P&C and asset management business.
We find Ping An’s risk-to-reward profile attractive given its strong recovery in life insurance business yet undemanding valuation (-1.6SD).
Maintain BUY. Target price: HK$73.00.
Source: UOBKH
https://research.uobkayhian.com/content ... 7091712f05
Ping An Insurance Group (2318 HK)
3Q23: Results In Line; NBV Continuing Its Recovery Path
Ping An’s 9M23 results were in line, with NBV growing more than 40% yoy and margins improving.
The operating and net profit declined by 9.8% and 5.6% yoy as higher underwriting cost due to natural disasters and weaker investment environments weighed on its P&C and asset management business.
We find Ping An’s risk-to-reward profile attractive given its strong recovery in life insurance business yet undemanding valuation (-1.6SD).
Maintain BUY. Target price: HK$73.00.
Source: UOBKH
https://research.uobkayhian.com/content ... 7091712f05
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
-
winston - Billionaire Boss
- Posts: 118906
- Joined: Wed May 07, 2008 9:28 am
Re: Ping An 2318
by winston » Mon Oct 30, 2023 2:02 pm
not vested
HSBC Global Research Cuts PING AN (02318.HK) TP to $62, Rating Buy
HSBC Global Research said in a report that the share price of PING AN (02318.HK) remained depressed, due to investor concerns over the new business value (NBV) outlook, potential further asset impairment and major managerial shuffles.
The NBV performance of PING AN was decent in the first three quarters of 2023, elevating by 41% on a yearly basis. The management upgraded the outlook to forecast NBV growth in 2024.
Related News- CICC Drops PING AN (02318.HK) TP to $66.2; 1-3Q OP Misses
HSBC Global Research maintained the Buy rating for PING AN, and reduced the 2023-25E IFRS EPS by 24.8%/ 6.3%/ 8.5%.
The target price for the stock was trimmed from $65 to $62.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
HSBC Global Research Cuts PING AN (02318.HK) TP to $62, Rating Buy
HSBC Global Research said in a report that the share price of PING AN (02318.HK) remained depressed, due to investor concerns over the new business value (NBV) outlook, potential further asset impairment and major managerial shuffles.
The NBV performance of PING AN was decent in the first three quarters of 2023, elevating by 41% on a yearly basis. The management upgraded the outlook to forecast NBV growth in 2024.
Related News- CICC Drops PING AN (02318.HK) TP to $66.2; 1-3Q OP Misses
HSBC Global Research maintained the Buy rating for PING AN, and reduced the 2023-25E IFRS EPS by 24.8%/ 6.3%/ 8.5%.
The target price for the stock was trimmed from $65 to $62.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 118906
- Joined: Wed May 07, 2008 9:28 am
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