On June 22, China People's Insurance Group (01339.HK) fell 3.49% in regular trading, trading at 4.99 HKD/share, with turnover of 114 million HKD.
On the news front, the company has reported two consecutive quarters of profit deceleration. In Q4 of the previous fiscal year, the group posted a single-quarter net loss attributable to shareholders of 180 million yuan, compared to a profit of 6.5 billion yuan in the same period a year earlier. In Q1, net profit declined 31.4% year-over-year, primarily dragged by capital market volatility weighing on investment returns. Additionally, Morgan Stanley and Citi recently lowered their target prices on the company's H shares, both citing life insurance business performance falling short of expectations.
The stock has declined approximately 23.6% year-to-date. Last Friday, the A-share insurance sector sold off broadly, with PICC's A-share listing falling 5% in a single session. Selling pressure has extended into this week's Hong Kong trading.
(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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