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一文了解券商於国寿(02628.HK)公布业绩後最新观点及目标价
阿思达克 08-27 11:08
中国人寿(02628.HK)今早股价偏淡,该公司昨收市後公布截至今年中期业绩,营业额5,044.31亿元人民币按年升12.5%。受传统险准备金折现率假设更新、2019年同期执行手续费和佣金支出税前扣除政策调整以及总投资收益变化的共同影响,纯利305.35亿人民币,按年跌18.8%,符合预期;每股盈利1.07元。不派息。

国寿今年上半年新业务价值368.89亿人民币,增长6.7%,符合预期。实现总保费收入4,273.67亿人民币按年增长13.1%。总投资收益961.34亿元,增长8.1%,总投资收益率达5.34%。

【业绩符预期 新业务增长】

美银证券指,国寿上半年纯利按年跌19%(对比首季跌34%),指新业务价值按年升6.7%属唯一录正增长的内险商,维持对其H股「买入」评级,上调对其目标价由22.1元升至23.96元。

花旗发表报告表示,国寿上半年净利润及新业务价值均符合预期,新业务价值按年增长领先同业。上半年保费收入持平,投资收益率下跌,总投资收益率仍处较高水平。於代理人管理能力表现突出,以及新业务价值增速显着胜同业下,维持其「买入」评级,维持目标价27.5港元。

本网综合5间券商予其最新评级及目标价:

券商│评级│目标价(港元)

瑞信│跑赢大市│30元

花旗│买入│27.5元

大和│买入│25元

美银证券│买入│22.1->23.96元

摩根士丹利│与大市同步│18元

--------------------

券商│观点

瑞信│新业务价值增长领先同业

花旗│上半年业绩符预期,新冠肺炎下新业务价值仍录得增长

大和│新业务价值增长略为逊色,利润率增长强劲

美银证券│新业务价值增长胜同业,产品组合稳定

摩根士丹利│新业务价值增长胜预期

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