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PICC P&C (02328.HK) received an increase in shareholding of 2.3 million shares from GIC Private Limited.
According to the latest equity disclosure information from the Stock Exchange of Hong Kong, on July 9, 2024, PICC P&C (02328.HK) obtained 2.3 million shares with an average price of HKD 9.0865 per share from GIC Private Limited through on-market transaction, involving approximately HKD 20.899 million. After the shareholding, the latest number of shares held by GIC Private Limited has increased from 5.98% to 6.01%.
Hang Seng Index Company: The Hang Seng Stock Connect State-Owned Enterprise Value Index has risen by more than 26% since the beginning of the year, significantly outperforming the market.
Heng Seng Index Company stated that state-owned enterprises have significantly outperformed in the Hong Kong stock market in recent years.
PICC P&C (02328.HK) suffered a shareholding reduction of 308,000 shares by GIC Private Limited.
According to the latest equity disclosure from the HKEX on July 3, 中国财险 (02328.HK) was reduced by 308,000 shares with an average price of HKD 9.6914 per share on June 27, 2024 by GIC Private Limited with a value of about HKD 2.985 million. After the reduction, the latest number of shares held by GIC Private Limited has decreased to 413,694,662 shares, and the shareholding ratio has dropped from 6.00% to 5.99%.
[Brokerage Focus] Guosen Securities first gives PICC P&C (02328) an "outperform" rating, indicating that its underwriting profit level is higher than the industry average.
Jingu Financial News | Guosen Securities released a research report stating that PICC P&C (02328) is a scarce symbol in China's property insurance industry. Property insurance has the characteristics of high participation threshold, large initial capital investment, and sensitivity to new technology application, and the "moat" effect is obvious. The bank continued to point out that, as a leading enterprise in China's property insurance industry, PICC P&C has advantages in network services, business scale, data reserves, etc. The company demonstrates stronger cost control and profitability capabilities, empowers sustainable growth on the liability side, and the underwriting profit level is higher than the industry average, with ROE maintained above 10%. 1) Car insurance: Grasp multi-dimensional advantages and improve underwriting profitability. 20
Guosen Securities: First gives PICC P&C (02328) a "outperform" rating with target price of HKD 11.45-12.1.
Zhī tōng Cáijīng APP learned that Guóxìn Zhèngquàn released a research report, giving 'outperform' rating for the first time on PICC P&C (02328), and expects the company's net income attributable to the mother from 2024 to 2026 to be 28.418/31.982/34.243 billion yuan, and earnings per share of 1.28/1.44/1.54 yuan per share. The company's business model has the advantage of 'dual-wheel drive' on the asset and liability side. Coupled with the continued recovery of current production and life and the rise of new energy vehicles, the reasonable target price is expected to be HKD 11.45-12.1. The main points of Guosen Securities are as follows: PICC P&C
PICC P&C (02328.HK): Li Shuxian resigns as external supervisor.
On July 1st, Guronghui reported that PICC P&C (02328.HK) announced that Li Shuxian had resigned from the position of external supervisor and member of the financial and internal control supervision committee of the supervisory board due to work reasons. The resignation will be effective from June 30, 2024.
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