《大行》瑞銀料中國平安(02318.HK)次季稅後淨利將按年增5.9% 新業務價值升43%
瑞銀發表研究報告指,中國平安(02318.HK)將於8月底公布上半年業績,目前預測中期稅後經營利潤(OPAT)將按年增長3.5%,其中第二季增速加快至4.5%,對比首季為2.4%,主要受惠資產管理業務受資本市場復甦帶動,以及財產險業務因利率下行推動債券公允價值回升。
瑞銀預測平安稅後淨利潤(NPAT)上半年料跌約10%,第二季預測扭轉跌勢,錄得5.9%增幅,而首季為下跌26%,主要來先股市表現改善及債券價值上升的帶動,部分抵銷可轉債價值的影響。瑞銀又預測,平安中期股息將輕微增加至每股0.94元人民幣,隨著減值壓力緩解,預計全年股息達到每股2.63元人民幣,股息回報率為5.1%,屬同業最高。
該行預測第二季新業務價值(VNB)預料按年增長43%,上半年增幅為38%,跑贏同業。基於宏觀環境改善及利差風險下降,該行將目標價由60元上調至66元,維持平安的「買入」評級。
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