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.
《大行報告》美銀證券下調國壽(02628.HK)目標價至14元 第三季盈利遜預期
阿思達克 10-27 10:10
美銀證券發表報告指,按IFRS 17計算,國壽(02628.HK)首三季淨利潤按年跌36%至355億元人民幣;按IFRS 4計則降48%至162億元人民幣。第三季盈利疲弱,部分是由於會計準則變動。總投資報酬率為2.81%,低於2023年上半年的3.41%。中國人壽首九個月的新業務價值按年增14%,而上半年則增20%,意味著第三季新業務價值按年降12至18%,符合市場預期。管理階層提到,由於會計準則的變化,今年的股息政策尚未確定。 該行表示,由於會計準則變化,下調集團2023年的盈測61%,並在投資回報預測下調的情況下,降低公司2024至25年盈預17至18%。該行將集團目標價下調15%,由16.5元降至14元,維持「買入」評級。 該行表示,根據公司策略,其在今年第二季和7月對出售終身壽險時更加謹慎,認為當低利率環境持續時,該產品或會導致未來損失。不過,該行認為,該策略於短期內將導致集團增長緩慢,預計隨著需求復甦和推出新銷售活動,國壽及其他主要保險公司表現將在明年第一季出現復甦。
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