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[Brokerage Focus] Bocom Intl cuts za online (06060) target price by 16.7%, indicating slowing premium growth.
Jingu Finance | Bocom Intl released a research report, stating that za online (06060) achieved a net income attributable to the parent of 5.5 billion yuan in the first half of the year, a decrease compared to the 22 billion yuan in the same period last year, mainly due to the decrease in underwriting profit. Premium income in the first half of the year increased by 5.4% year-on-year, significantly slowing down compared to 2023, with premium growth mainly coming from digital life and autos ecology. The year-on-year increase in comprehensive cost ratio is mainly due to consumer finance and health ecology. The net losses of the technology division and the banks division have significantly narrowed. Investment income decreased compared to the previous year. The bank pointed out that in the face of a challenging environment, the company pays more attention to the quality of underwriting and the growth rate of premiums.
ZhongAn Online P & C Insurance Co., Ltd. (HKG:6060) Could Be Riskier Than It Looks
ZhongAn Online P & C Insurance Records Lower Profit in H1
Za online (06060) saw a 74.96% decrease in net income for the first half of the year and will not distribute interim dividends.
Jingwu Cai Xun | ZA Online (06060) announced that as of the six months ended June 30, 2024, the attributable net income of the parent company's shareholders was 55.467 million yuan (RMB, the same below), a decrease of 74.96% year-on-year, with basic earnings per share of 0.04 yuan. No interim dividends will be paid. During the period, the group's insurance service income was 15.088 billion yuan, a year-on-year increase of 19%. The announcement pointed out that due to the impact of the rising claim ratio on the sustained profitability, the decline in underwriting profit led to a decrease in the net income of the insurance segment by 0.309 billion yuan. In the first half of the year, based on the total premium, ZhongAn Insurance ranked ninth in China's P&C insurance industry, and in
Za Online (06060): Cai Zhaohui has been appointed as a member of the Risk Management and Related Party Transaction Control Committee.
za online (06060) announced that the composition of the board of directors' committee of the company will be effective from August 27, 2024...
ZA ONLINE: INTERIM RESULTS ANNOUNCEMENTFOR THE SIX MONTHS ENDED JUNE 30, 2024