On July 14, New China Life Insurance rose 3.82% in regular trading, trading at 44.94 HKD/share, with turnover of 665 million HKD.
On the news front, the company released its H1 earnings forecast on July 13, projecting attributable net profit of 20.72 billion to 23.68 billion yuan, representing a year-on-year increase of 5.92 billion to 8.88 billion yuan, or 40% to 60% growth. Non-recurring items adjusted net profit is expected at 20.79 billion to 23.76 billion yuan, also up 40% to 60%. The insurer attributed the strong performance to value growth in its life insurance business, strengthened investment and research capabilities, and an optimized asset allocation structure.
Prior to the earnings forecast, BOCOM International had already raised its target price for the company to 59 HKD while maintaining a Buy rating. Citibank had also added the stock to its 30-day positive catalyst watchlist with a target price of 50.2 HKD, citing expectations of strong H1 results driven by robust bancassurance momentum and double-digit growth in first-year premiums and new business value.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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