Movement Alert|CPIC Rises 3.01% in Regular Trading, Solid Interim Earnings and Target Price Upgrade by Institution

Market Focus09-03

On September 3, CPIC rose 3.01% in regular trading, trading at HKD 31.42 per share, with turnover of HKD 106 million. The rally was driven by the company's recently disclosed first-half results and a subsequent analyst upgrade.

CPIC reported first-half net profit attributable to shareholders of RMB 30.775 billion, up 10.4% year-over-year, while total operating revenue reached RMB 212.136 billion, up 5.8%. Notably, the company implemented its first-ever interim dividend, proposing a cash distribution of RMB 0.42 per share, totaling approximately RMB 4.041 billion, establishing a twice-yearly regular dividend mechanism. Management indicated the mid-to-long-term dividend policy is anchored to operating profit, which rose 6.2% to RMB 21.149 billion in the first half.

On the analyst front, CMB International maintained a Buy rating on CPIC and raised its target price to HKD 44, citing steady growth in both earnings and embedded value. The new target implies 0.6x FY26 P/EV and 1.2x FY26 P/B based on a sum-of-the-parts valuation. The life insurance segment delivered new business value growth of 12.7% to RMB 10.758 billion, while the property insurance combined ratio improved 1.3 percentage points to 95.0%.

(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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