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《大行報告》摩通:中國平安(02318.HK)首季壽險新業務價值非常強勁 料市場反應正面
摩根大通發表報告指,中國平安(02318.HK)自3月15日公布去年業績之時,雖然公司給予今年首季新業務價值正面指引,但其股價未有反應,相信是由於投資者對公司改革看法審慎,以及IFRS-17下財務數據的不確定性所影響。 但中國平安最新公布今年首季業績後,摩通認為其首季業績表明其風險回報有所改善,首季壽險新業務價值增長非常強勁,以舊有準則計按年增長9%,以新實施準則計則增長21%,預期IFRS-17下的財務影響有限。 摩通又指,平安壽險及產險今年首季核心償付能力充足率穩為120%及172%水平維持平穩,考慮到強勁的業務復甦和具有彈性的盈利表現,認為中國平安現價估值不昂貴,維持「增持」評級,目標價為85元。
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