Ping An 2318

Re: Ping An 2318

Postby winston » Wed Apr 20, 2016 2:27 pm

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<Research Report>UBS Cuts PING AN (02318.HK) Target to $48.41; Rated Buy

UBS, in its report, said the share price of PING AN (02318.HK) has not fully reflected its strong new business value (NBV) growth outlook.

Ping An should continue to deliver healthy NBV growth and maintain strong underwriting profit for its non-life unit over the next few years.

UBS expected Ping An's distribution channel upgrade to translate to solid topline growth in 2016, and forecasted the insurer's 2016 NBV growth will remain above the 15-20% long-term trend.

For the property and casualty insurance (P&C) segment, Ping An can maintain industry-leading results.

UBS believed that Ping An's overall credit risk exposure is under strict control, as its proportion of financing trusts and real estate financing trusts have been also reduced, so as to reduce its credit risk exposure .

For the Lufax platform, the proportion of P2P trading?usually viewed as a higher-risk business?has decreased from 10.4% to 3.4% of total transaction volume at end-2015.

UBS trimmed the 2016/2017/2018 NPAT estimates by 2.6%/4.5%/3.3% to reflect the estimates of combined ratios to 95.7%/96.2%/96.5%; 2016/2017/2018 investment yield assumptions are lowered to 5.0%/4.8%/4.8%.

UBS forecast on NBV growth of 2016/2017/2018 were 20%/15%/12%.

The target price was lowered from $59.13 to $48.41 and the rating was maintained at Buy.

Source: AAStocks Financial News
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Re: Ping An 2318

Postby winston » Wed Apr 20, 2016 2:41 pm

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Apr 15, 2016

<Research Report>JPM: Bullish on PRC Life Insurers Over Property Insurers; Top Pick PING AN

JPMorgan, in its report, said although the stock market in mainland China is volatile, mainland insurers still saw NBV growth, strong capital and stable profits, and the industry foundation can be re-evaluated given the current low infiltration rate, and can offset the negative impact of unstable investment market.

It is believed that the second half of 2015 was nearly the trough, so the report said the NBV of life insurance will continue to grow fast, so JPMorgan recommends insurers with low systemic risks, including PING AN (02318.HK) and CPIC (02601.HK).

The research house anticipated that the NBV growth will continue to be strong (over 20% year-on-year) with better large composite portfolio; low investment returns are offset by managed assets growth; financial situation is stable under C-ROSS.

JPMorgan is bullish on life insurance in PRC over property insurance, with top pick of PING AN Insurance and then CPIC.

Source: AAStocks Financial News
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Re: Ping An 2318

Postby winston » Thu Apr 21, 2016 9:15 am

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Ping An Bank 1Q Net Profit RMB6.086B, Up 8.12% YoY

Ping An Bank (000001.SZ) revealed in its quarterly report that for the period from January to March, the bank recorded a revenue of RMB27.532 billion, an increase of 33.19% yearly;

Net profit of RMB6.086 billion, an annual increase of 8.12% yearly; and EPS of RMB0.43.

Source: AAStocks Financial News
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Re: Ping An 2318

Postby winston » Wed Apr 27, 2016 7:48 am

Ping An is riding solidly on broad demand

Ping An Insurance (Group) of China (2318), the country's second-largest insurer by market value, said a 4 percent gain in first-quarter net profit it posted yesterday came with demand for all types of insurance.

Ping An had a net profit of 23.4 billion yuan (HK$29.9 billion) in the first three months of this year compared with 22.4 billion yuan in the same quarter a year earlier, according to a stock exchange filing.

Net profit attributable to shareholders reached 20.7 billion yuan for the first three months against 19.9 billion yuan for the period in 2015.

Ping An reported a 38 percent rise in full-year profit in December, though soured debt at Ping An Bank could cast a shadow on this year.

The results follow a profit warning last week from the mainland's largest insurer, China Life Insurance (2628).

Ping An said the economy was in a downward trend in the first quarter, yet the new business value of life insurance hit 13 billion yuan up 38.3 percent from 12 months earlier.

Written premiums in the life sector also saw a 28 percent rise to 134.71 billion yuan for the first three months.

Source: REUTERS
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Re: Ping An 2318

Postby winston » Wed Apr 27, 2016 12:11 pm

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<Research Report>C Suisse Raises PING AN Target to $46.2; Rated Outperform

PING AN (02318.HK) reported 1Q16 NPAT growth of 3.7% YoY, tracking 41% of consensus for the full year, according to Credit Suisse.

Despite weak equity markets, 1Q NAV rose 4% QoQ, assuring investors of positive EV trend.

Core solvency ratios of life/ P&C were strong at 208%/ 252%.

The stock is trading at 0.9x P/EV and 1.5x P/B, based on vigorous new business and positive NAV trend.

The target price was raised to $46.2 from $43.5 and the rating was maintained at Outperform.

The research house said that despite headwinds from reserve charge and investment, operation remains solid.

VNB was up 38.3% and new business from agents soared 38.5%.

P&C probability was healthy with combined ratio improved to 94.3%.

Source: AAStocks Financial News
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Re: Ping An 2318

Postby winston » Thu Jun 16, 2016 7:30 am

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Ping An to spin off securities arm

by Watson Tan

Ping An Group has approved the spin- off of its subsidiary, Ping An Securities on the local bourse.

Net proceeds from the overseas issue, expected to be launched within the next 18 months, will be used to raise the firm's capital, supplement working capital, and promote development of relevant securities businesses.

The group currently holds 96.55 percent direct and indirect stake of Ping An Securities.

After the H-share listing, the group will still remain the controlling shareholder with a stake of no less than 69.8 percent.

Ping An Securities reported a 19.2 percent jump in revenue to almost 2.1 billion yuan (HK$2.48 billion) in the first quarter from a year earlier. Net profit rose 16.7 percent to 747 million yuan.

Source: The Standard
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Re: Ping An 2318

Postby winston » Mon Jul 04, 2016 2:42 pm

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June 13, 2016

PING AN (02318.HK) Jan-May Premium Income Up 21.64%

PING AN (02318.HK) announced that its premium income from January to May 2016 was RMB233.395 billion, up 21.64% yearly.

Source: AAStocks Financial News
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Re: Ping An 2318

Postby winston » Tue Jul 19, 2016 2:49 pm

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Ping An

By Shuli Ren

I sat down with Arthur Kwong, head of Asia Pacific equities at BNP Paribas Investment Partners, and asked him about Asian stocks that the European asset manager likes.

Barron’s: Some investors say Chinese insurance companies’ best days are over as the People’s Bank of China lowers its benchmark interest rates to stimulate the economy. Why is Ping An Insurance (2318.Hong Kong) still on your top-10 list?

Kwong: First, it is a relative call. We’ve got to hold some financial stocks unless we are deeply underweighting the sector. And we prefer Chinese insurance companies to banks.

As Chinese get wealthier, they will want to buy more insurance products. So far, the penetration rate in China is still low.

We go back to the concept of market power. Chinese banks are more fragmented. The biggest banks in terms of deposits have only very few percentage points of market share.

The top 5 insurance companies, on the other hand, dominate the market. Ping An, for instance, has about 20% market share in healthcare insurance.

We especially like Ping An because it has a good sales team. Its sales force focuses on the wealthy parts of China. As a result, Ping An’s revenue per salesperson is the best amongst competitors.


Source: Barron's Asia
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Re: Ping An 2318

Postby winston » Mon Aug 15, 2016 11:42 am

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PING AN (02318.HK) Jan-Jul Premium Income Up 20.72%

PING AN (02318.HK) announced that the accumulated gross premium income for the period from January to July 2016 amounted to RMB289.162 billion, up approximately 20.72% against the year-ago period.

Source: AAStocks Financial News
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Re: Ping An 2318

Postby winston » Thu Aug 18, 2016 8:02 am

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Insurer dodges stock slump

Ping An Insurance (Group) (2318), China's second-largest insurer, yesterday said first-half profit rose 18 percent as growth in premiums and banking revenue helped offset the impact of stock- market declines that have hit rivals.

Net income climbed to 40.8 billion yuan (HK$47.7 billion) or 2.28 yuan a share, in the six months to June 30, from 34.6 billion yuan, or 1.90 yuan a share, a year earlier.

A 6 percent profit increase at the Shenzhen-based company's banking arm and higher premium revenue helped it bolster net income even as declines in the nation's stock market caused a slump in Chinese insurers' combined profits.

Ping An said its investment income fell 33 percent in the first six months from a year earlier to 55.6 billion yuan. The firm recorded 9 billion yuan in realized investment losses, reversing from 42.7 billion yuan of gains a year ago. Net investment income, mainly dividends and interest income, jumped 52 percent.

Net premiums earned rose 27 percent, the company said. New business value, which gauges the profitability of new life policies sold, expanded 43 percent.

Insurers' combined profits slumped 54.1 percent in the period from a year earlier, largely due to share-market declines and higher expenses, official data showed last month.

Returns from equities totaled 24.1 billion yuan during the period, down by 261.2 billion yuan from a year earlier.

Source: BLOOMBERG
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