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研報掘金丨華創證券:維持中國太保“推薦”評級,目標價45.5元
格隆匯 03-27 15:39

華創證券研報指出,中國太保(601601.SH)24年歸母淨利潤450億元,同比+64.9%;歸母營運利潤344億元,同比+2.5%。截至2024年底,保險營銷員18.8萬人,較上半年末提升2.7%,首度實現規模企穩回升。月均核心人力5.3萬人,按可比口徑同比增長10.4%,同時人均產能、人均收入均穩步增長,代理人改革成效加速兌現。2024年預計整體新單仍以傳統險爲主,利率加速下行背景下傳統險鎖定長期收益的優勢凸顯。投資顯著向好,配置上股、債均增配。給予2025年PEV目標值爲0.7x,對應2025年目標價爲45.5元,維持公司“推薦”評級。

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