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[Brokerage Focus] Tianfeng Securities maintains a "buy" rating on China Taiping (00966), pointing out significant improvement in performance on the liability side and bullish on long-term development potential.
Jingu Financial News | Tianfeng Securities issued a research report, stating that China Taiping (00966) achieved a 15.4% year-on-year increase in net income attributable to shareholders in the first half of the year, reaching HKD 6.027 billion. In terms of life insurance, new premiums reached HKD 28.53 billion in the first half of the year, a decrease of 8.8% year-on-year, and the NBV reached HKD 7.335 billion, an increase of 85.5% year-on-year. The bank predicts that the significant increase in silver insurance NBVM is mainly due to the implementation of "reporting and banking integration", which reduces fees and commission rates. In terms of property insurance, insurance service performance reached HKD 0.5 billion in the first half of the year, an increase of 27.6% year-on-year, and the comprehensive cost ratio was 97.0%, a decrease of 0% year-on-year.
The third "国十条" of the insurance industry has activated the trillion-dollar retirement financial market. The direction of the development of the three-pillar retirement insurance has been determined!
① Vigorously develop commercial insurance annuities to meet the diversified retirement protection and long-term financial planning needs of the public; ② Encourage the development of new products and exclusive products that adapt to the individual pension system; ③ Support pension insurance companies in conducting commercial pension business and promote the development of exclusive commercial retirement insurance.
China Taiping [00966] is now trading at 9.75 Hong Kong dollars, with a drop of 5.89%.
As of 11:48, China Taiping [00966] reported HKD 9.75, down HKD 0.61 or 5.89% from the previous closing price of HKD 10.36. The trading volume is HKD 87.4239 million. The highest price today is HKD 10.4, and the lowest price is HKD 9.62. Based on yesterday's closing price, the 10-day average price is HKD 8.86, and the 50-day average price is HKD 7.30. The current PE ratio is 5.91 times, and the 14-day RSI is 66.19.
China Taiping (00966) rose 10.50%, now at 9.750 yuan, hitting a new 52-week high.
As of 11:48, China Taiping (00966) rose by 10.50% compared to the previous closing price, now at 9.750 yuan, hitting a 52-week high; volume of 8.7801 million shares, turnover of 87.4239 million Hong Kong dollars.
Head insurance asset management profit remained stable with slight increase in the first half of the year, but the industry is generally concerned about increased pressure in the second half of the year. "Stocks and bonds both face challenges."
① According to multiple insiders in the insurance asset management industry, the investment performance of various institutions in the bond market improved in the first half of the year. However, the subsequent challenges of the stock and bond markets will test the investment capabilities of these institutions. ② Some industry experts pointed out that currently, it is difficult to invest in non-standard (products). The latest data shows that the business of innovative products in insurance asset management contracted in the first half of the year, and the issuance of non-standard bond rights is still in a downward trend.
【Special Guest Big V】Deng Shengxing: Weakness in multiple mainland data dragging down the major market.
金吾财讯 | The Hang Seng Index closed at 17691 on Monday (2nd), down 297 points or 1.65%. The total market turnover for the day was 112.8 billion yuan. The national index fell 119 points or 1.9% to 6211; the technology index fell 74 points or 2.1% to 3486. Due to the rebound of the US dollar, the offshore RMB exchange rate weakened, depreciating to 7.1085 against the US dollar at one point, down 265 basis points, and now stands at 7.1116, a decrease of 257 basis points. Data from the China Index Research Institute shows that sales of the top 100 real estate enterprises dropped by 38.5% year-on-year from January to August, with mainland real estate stocks also trending downwards. China Vanke (02202) shifted from profit to loss in the mid-term performance report.
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