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BOCOM INTL: Maintains Ping An Insurance 'Buy' rating with a Target Price of 60 HKD.
BOCOM INTL released a Research Report stating that Ping An Insurance (02318) expects its current asset provision to be relatively sufficient, with a continuing improvement in the macro economy, leaving room for reversals in asset impairment provisions. The bank anticipates that the company's earnings and new business value will maintain steady growth by 2025, with the current dividend yield exceeding 5%, making the valuation attractive. A Buy rating and a Target Price of 60 HKD are maintained. BOCOM INTL's main viewpoints are as follows: Performance: Ping An's operating profit attributable to the parent (OPAT) is expected to grow by 9% year-on-year in 2024, an acceleration compared to the growth rate in the previous three quarters. The growth in OPAT in 2024 mainly comes from asset management and property insurance, contributing growth rates of 7.9/.
BOCOM INTL: Maintaining Ping An Insurance (02318) "Buy" rating, Target Price 60 Hong Kong dollars.
The bank stated that the company plans to distribute a final dividend of 1.62 yuan per share, with an annual dividend of 2.55 yuan per share, an increase of 5% year-on-year, maintaining an upward trend for 13 consecutive years.
[Brokerage Focus] Guozheng International: The pullback in Hong Kong stocks provides a buying opportunity, with companies like Smol waiting to unleash their potential, maintaining a “Buy” rating.
Jinwu Financial News | Guozheng International released a Research Report pointing out that the Hong Kong stock market has recently undergone adjustments. After rising for 4 consecutive days, on March 20, the Hong Kong stocks significantly corrected, with the tech Sector leading the decline. The Hang Seng Index opened slightly lower at 17 points to 24,753 points before plummeting, dropping to a low of 24,186 points in the afternoon, and ultimately closing at 24,219 points, down 551 points or 2.23%. The Main Board's trading volume reached 294.9 billion Hong Kong dollars, an increase of 8.5% compared to the previous day. In terms of Hong Kong Stock Connect trading, after a large net Inflow on March 19, there was a net Outflow on the 20th, amounting to 0.408 billion.
【Brokerage Focus】BOCOM INTL: Ping An Insurance (02318) profits fall short of expectations, but the property insurance performance is impressive. Maintain "Buy" rating.
Golden Finance News | BOCOM INTL released a Research Report indicating that Ping An Insurance's profit performance in 2024 is differentiated. The parent Net income increased by 47.8% year-on-year, which was below expectations due to the drag from the life insurance Business. However, the profitability of the property insurance Business grew impressively by 67.7%. Although the new business value is slightly lower than market expectations, the number of agents has stabilized for three consecutive quarters. The company maintains a stable dividend payout ratio, and dividends have increased for 13 consecutive years. BOCOM INTL maintains a 'Buy' rating with a Target Price of 60 HKD. The report shows that the parent operating profit (OPAT) of Ping An in 2024 is expected to grow by 9% year-on-year, mainly due to contributions from asset management and property insurance businesses.
[Brokerage Focus] JPMorgan: Numerous stocks are about to release earnings, and there are changes in positions in the Hong Kong warrant market.
JPMorgan released a Research Report indicating that several important companies are about to announce their earnings, leading to corresponding changes in the Hong Kong stock market and warrants market. Today, Meituan (03690) will announce its earnings, with a focus on the profitability outlook of its core Business and the progress of narrowing losses in new Businesses. In the past ten days, the southbound Hong Kong Stock Connect saw a net Inflow of 0.73 billion into Meituan, but in the past five days, there has been a net Outflow of 2.7 million in Meituan's good positions and a net Inflow of 1.3 million in weak positions. Related information on Meituan's warrants, such as warrant 27790 and put warrant 28765, is also worth noting for investors. Besides Meituan, Pinduoduo...
[Bay Area Morning Briefing] Hong Kong's Global Financial Center Index score has risen and continues to rank third globally. CKH HOLDINGS contributes 45.3 billion HKD in revenue from 53 ports worldwide.
I. Market News 1. The Hong Kong Securities and Futures Commission issued additional guidelines on IPO subscription and financing. On March 20, the Hong Kong Securities and Futures Commission issued a circular providing additional guidelines on IPO subscription and financing services for licensed corporations, aimed at enhancing risk management practices and protecting investors from excessive financial risks. The guidelines stipulate that for IPO subscription instructions where clients have not prepaid the required funds, licensed corporations should charge such clients a minimum pre-subscription payment equivalent to 10% of their subscription amount. 2. HKEX adjusts collateral usage rules for Bond Connect Hold Positions.
