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友邦(01299.HK)續挫逾4%曾失百天線 中期新業務價值跌幅超預期
阿思達克 08-20 14:00
友邦保險(01299.HK)上半年新業務價值跌幅超過市場預期,但增派中期股息,多間大行仍維持「友邦」買入評級,但花旗認為友邦新業務及內涵價值下滑,料對今天股價反應負面。該股三連跌,尤其是今天曾一舉失守100天、20天、50天、及10天線線(71.22元、72.5元、73.08元及73.5元),最低見71.1元,現造71.5元,續跌4.2%,為表現最差藍籌,成交2,060萬股,涉資14.89億元。

友邦公布,中期純利按年跌34.6%至21.97億美元,每股盈利18美仙,中期股息按年增5.1%至35港仙,總收益按年跌19%至196.64億美元;稅後營運溢利升3%至29.33億美元,也低於本網之前綜合5間券商預測範圍(29.55-29.85億美元)下限。期內,按固定匯率計算,新業務價值按年跌37%至14.1億美元,低於本網之前綜合9間券商預測範圍(14.9-16.04億美元)下限;新業務價值利潤率減少11.1個百分點至54.4%;年化新保費按年跌24%至25.79億美元。內涵價值權益614億美元;內涵價值596億美元,環比下跌24億美元。

花旗指友邦受累於疫情大流行上半年新業務及內涵價值下滑,料對今天股價反應負面。不過,由於5月及6月相關地區因應疫情緩和有所放寬,該行認為銷售正迎來一線希望,並相信友邦營運環境最壞時刻已過去,暫維持其「買入」評級看84元。

美銀指,友邦今年上半年業績疲弱,其中按實質匯率計新業務價值按年跌38%,超過該行預測跌29%,但市場早已預期會受到疫情拖累,並認為投資者應焦聚公司長線增長,特別是內地市場,故重申其「買入」評級看82.5元。

大和認為友邦上半年新業務價值遜於市場預期,主要受短期因素影響,但近期表現已見改善,加上公司上半年稅後溢利及派息仍然增長,顯示其償付能力強勁,重申其「買入」評級。(sz/w)

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