You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
高盛维持友邦(1299.HK)目标价98港元重申“买入”评级
格隆汇 08-23 10:03

高盛发表报告称,友邦保险(1299.HK)上半年的新业务价值(VONB)同比增长16%至22.75亿美元,比该行预期高出2%,受惠于VONB利润率上升,特别是内地业务、税收规则变化带来积极影响。该行强调其内涵价值(EV)继续改善,营业利润维持两位数增长势头,维持其未来12个月目标价98港元不变,重申“买入”评级。

该行表示,友邦保险内地的年化新保费(ANP)增长31%,尽管第二季度的增长恢复正常化,但远远领先于平保(02318)和中国人寿(02628)。另外,友邦上半年在内地的利润率进一步扩张,远远超出该行预期。友邦也注意到税收规则变化带来的积极影响,但被产品利润率下降所抵消。

该行还指出,友邦在泰国和马来西亚业务实现了积极的增长,由于新加坡的低基数效应,新加坡的新业务价值也好于预期。东盟市场业务的增长复苏,预计东盟市场将在下半年实现更高增长。

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 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. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account