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Hong Kong stocks closed (08.28) | The Hang Seng Index fell 1.02%, with leading stocks in the market. Network technology stocks, mainland real estate stocks, and others all came under pressure.
Today, the three major Hong Kong stock indices opened lower and continued to decline. The Hang Seng Index and the Hang Seng China Enterprises Index ended their two consecutive rises, while the Hang Seng Tech Index fell more than 2% at one point during the trading day.
GTJA: Raised China Taiping's target price to HKD 13.59, with comprehensive improvement in business quality exceeding expectations.
China Taiping Securities released a research report pointing out that considering the comprehensive improvement of business quality exceeding expectations, it maintains a "shareholding" rating on China Taiping (00966) and raises the target price to HKD 13.59 per share, corresponding to a 2024 P/EV ratio of 0.22 times. GTJA stated that the company's net income attributable to equity holders in the first half of 2024 increased by 15.4% compared to the same period last year, driven by insurance performance and investment income, with net investment performance improving significantly by 360.7% year-on-year. The group's embedded value grew by 8.1% compared to the end of last year, exceeding the bank's expectations. Considering that the allocation of more dividend assets in the company's equity assets is beneficial to stable profits, it is raised.
China Merchants Securities "strongly recommends" China Taiping: Investment income has significantly improved, NBV growth rate exceeds expectations.
China Merchants Securities released a research report stating that the current stock price of China Taiping (00966) corresponds to a PEV of only 0.11 times in 2024. It is expected that there will be a large potential for further increase, with a strong contrast between low valuation, low position holding and high fundamental prosperity. The company's interim report continues to show strong performance, with investment income significantly improving and historical risks on the asset side gradually being cleared. The NBV growth rate on the liability side far exceeds expectations, and it is expected to maintain a leading advantage for the whole year. China Merchants Securities' main points are as follows: the NBV growth rate of life insurance exceeds expectations, and the value creation ability of bancassurance has significantly improved. 1) In the first half of 2024, the company achieved a life insurance NBV of 66.9.
gtja: Raised target price of china taiping (00966) to HKD 13.59, overall improvement in business quality exceeds expectations.
Considering that allocating more dividend assets in the company's equity assets is beneficial for stabilizing profits, the EPS for 2024-2026 is adjusted to HKD 2.14/2.51/3.10.
China Merchants Securities "strongly recommends" China Taiping (00966): significant improvement in investment income, NBV growth rate greatly exceeds expectations.
China Taiping (00966) gradually cleared historical risks on the asset side in the semi-annual report; the growth rate of NBV on the liability side exceeded expectations, and it is expected to maintain a leading advantage for the whole year.
News Flash: China Taiping's stock price surged more than 8%, with a 15.4% year-on-year increase in net profit in the first half of the year.
On August 28th, china taiping (00966.HK) rose more than 8%, as of the time of publication, it increased by 8.37%, closing at 9.32 Hong Kong dollars, with a trading volume of 90.3311 million Hong Kong dollars. Market source: futubull news, china taiping announced its performance for the first half of 2024. Under the new guidelines, the group's total assets exceeded 1.6 trillion Hong Kong dollars, an increase of 8.7% compared to the end of 2023; net investment performance was 7.503 billion Hong Kong dollars, a year-on-year increase of 360.7%. Insurance service revenue was 55.875 billion Hong Kong dollars, a year-on-year increase of 3.2%; insurance service performance was 11.249 billion Hong Kong dollars, a year-on-year increase.
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