《大行报告》大摩:友邦(01299.HK)中期税後营运溢利及派息仍稳固
摩根士丹利发表的报告指,以固定汇率计算友邦保险(01299.HK)新业务价值按年跌37%,差过市场预期的30%,期内税後经营溢利按年增5%,大致符合市场预期。以实质汇率计期内新业务价值按年跌38%,而税後经营溢利则升3%,公司宣派中期息每股35港仙,按年升5%,派息比率维持在18%。该行指友邦中期税後营运溢利及派息仍稳固,予其「增持」评级,目标价78元。
该行指出,内地上半年贡献集团新业务价值38%,是友邦最大市场,而上半年其新业务价值跌13%,管理层强调次季已回复正增长,而香港市场新业务价值则跌68%,表现与同业一致,而本地市场自4月以来亦见有改善,虽然受封关影响内地客业务仍未复苏。大摩指出,在东盟市场方面自3月底以来受疫情影响业务受拖累,而上半年泰国市场跌7%、马来西亚及新加坡则分别跌36%及24%,而其他市场则按年升10%,主因纳入印度AIA Tata至财务报表,及越南、台湾地区录正增长。
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.