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《大行報告》摩通料中國平安(02318.HK)首季純利按年跌6% 估壽險業務新業務價值升5%
阿思達克 04-21 14:50
中國平安將於明日(22日)公布今年首季業績,據摩根大通本周一(19日)發表報告,估計中國平安今年首季歸屬於母公司股東的營運利潤錄348億人民幣按年下滑3%、料平安首季歸屬於母公司股東的淨利潤244億人民幣按年下滑6%。

該行料中國平安今年首季業績數字將較溫和有三大原因,首先是預測公司旗下非壽險業務(料首季綜合比率98%)和銀行業務貢獻相對較弱。第二,按滬綜指首季按季回報率表現,料投資收益相對溫和。第三計入與內地房地產商華夏幸福(600340.SH)相關減值損失54億元人民幣(相對於債務敞口360億元人民幣)。

摩根大通估計中國平安旗下壽險業務呈復蘇,料其今年首季度壽險新業務價值為165億人民幣將按年增長5%,預計首年保費收入的強勁增長(今年首三個月按年增長15%),但將部分被產品利潤率下降所抵銷。隨著新業務價值的增長,總體營運稅後溢利增長動力應逐步恢復,該行預計中國平安2021財年及2022財年歸屬於母公司股東的營運利潤增長各為1%及20%。摩通予平安「增持」評級,目標價130元。

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