You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
大和:中國太平(0966.HK)盈利及VNB遜預期 削目標至17港元
格隆匯 03-30 13:23

大和發表研究報告表示,中國太平(0966.HK)去年盈利按年跌31%,新業務價值(VNB)按年跌19%,均遜於市場預期,今年將聚焦更多於保險代理團隊建立及新業務價值的利潤,該行將其目標價由26港元大幅下調至17港元,維持“買入”評級。

該行指,去年新業務價值遜預期,主要由於健康險產品銷售令人失望,令新業務價值利潤率下跌7.6個百分點至28.4%,管理層透露新產品全能保於今年2月底推出,其VNB利潤率將較福祿康瑞產品高30個百分點。該行將中國太平2020-21年新業務價值預測分別下調24%,以反映去年VNB表現令人失望、以及新冠肺炎疫情的影響,而2020年盈利預測亦下調36%。

大和指,中國太平新業務銷售受新冠肺炎疫情影響,管理層指今年第一季首年保費或錄負數,但年初至今已完成其招聘人員目標,人數達8.5萬,按年升22%,而公司對上半年的新業務目標具彈性。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account