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[Brokerage Focus] Soochow Securities maintains a 'buy' rating on PICC P&C (02328), pointing to improving investment returns season by season.
Kingwai Financial News | Soochow issued a research report indicating that PICC P&C (02328) released a 9M24 performance forecast announcement, with the company expecting a cumulative net income growth of about 20% to 40% year-on-year. Based on the central net income growth rate of 30%, the corresponding net income for 3Q24 quarter is expected to reach 7.745 billion yuan (net income in 3Q23: 0.153 billion yuan, a significant improvement year-on-year). The company announcement is due to the recovery of capital markets, with overall investment income improvement driving profit growth. Performance exceeded expectations. The bank stated that according to the new insurance ROE framework established by the bank (average underwriting leverage ratio * underwriting profit margin + total investment income rate * avera
Investment performance is good! China Life, PICC, and Ping An have all announced positive profit forecasts. The net profit for the first three quarters is expected to increase by over 60%. Many overseas asset management companies are bullish on insurance
①Four listed insurance companies have announced good news, with the net income attributable to the mother increasing by more than 60% in the first three quarters; ② On October 16, international investment banks raised the target price of multiple insurance stocks; ③ In the past month, jpmorgan has repeatedly increased its shareholding in Ping An, while blackrock has increased its position in China Life and PICC.
picc p&c (02328.HK) plans to hold a board of directors meeting on October 29 to approve the third quarter performance.
Oct 16 - PICC P&C (02328.HK) announced that the board of directors will hold a meeting on October 29, 2024 (Tuesday) to review and approve the unaudited third quarter performance of the nine months ending September 30, 2024, as well as its publication.
PICC P&C: DATE OF BOARD MEETING
Hong Kong stocks morning report on October 16: Five departments will hold a press conference on real estate. The H-share Golden Dragon Index fell by 5.92%.
①Fed's Daley said that if inflation falls as expected, interest rates will be cut one to two more times this year. ②IMF predicts that global public debt will exceed 100 trillion US dollars for the first time by the end of the year. ③US stock markets collectively fell, with ASML Holding underperforming dragging down the semiconductor sector; China concept stocks dropped across the board, with the Nasdaq Golden Dragon Index falling by 5.92%. ④The heads of five departments will attend a press conference on the 17th to introduce the real estate market situation.
Hong Kong stock announcement | China Pacific Insurance expects the net profit attributable to shareholders in the first three quarters to be 37 billion-39.4 billion yuan, an increase of about 60%-70% year-on-year.
picc group (01339) announces profit joy, expecting a net profit attributable to the parent of 33.83 billion-37.931 billion yuan in the first three quarters, a year-on-year increase of 65%-85%; Quan Feng Holdings (02285) announces profit joy, expecting a significant increase in net profit of over 300% in the first three quarters.
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