Jinwu Financial News | According to BOC International Development Research Report, the bank adjusted the profit forecast and valuation of Taiping, China (00966). The bank adjusted the company's profit and new business value forecast based on the company's solvency report and the industry's three-quarter report. It is expected that the company's profit growth rate in 2024 will accelerate from a low base in the second half of 2023, and the new business value growth rate will continue to lead the industry.
The bank expects that the announced policies to support the economy and stabilize the capital market will continue to be implemented, and there is still room for momentum in subsequent fiscal policies, which will push the stock market to show a steady upward trend and benefit the asset-side performance of insurance companies. Based on a net market ratio of 0.5 times in 2025, the bank raised the company's target price from HK$11.6 to HK$15.0, maintaining the buying rating.
