大和:重申中國人壽(2628.HK)買入評級 目標價降至16港元
大和發表研究報吿指,預期中國人壽(2628.HK)今年第二季受壓,估計上半年新業務價值將按年跌22%,純利按年增長40%。將公司目標價由原來的22港元削減至16港元,重申買入評級。
大和表示,受到保障型產品業務繼續面臨全行業需求疲弱、市場競爭加劇和監管審查趨嚴等拖累,集團6月份的保費進一步放緩至按年下跌3.5%。因此,上半年毛保費按增長亦放緩按年升3%。該行估計,集團的代理人數目,於6月下旬減少至約115萬人。
該行預期,集團的首年業務保費收入和新業務價值表現疲弱,但上半年純利穩健,主要受到強勁的股票投資、營運支出效率提升,以及準備金壓力緩解所推動。該行又指,預期今年全年集團的新業務價值按年跌15%,又將2022至2023年的盈利預測下調10%至11%,以反映保障型產品説爭加劇、長期投資回報下降和2021年的股票投資回報強勁。

Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.