Huaxi Securities Co.,Ltd. has issued a research report stating that ZA ONLINE (06060) holds a competitive edge in China's internet property and casualty insurance sector, with its technology and banking segments showing continuous profit improvement. The firm is optimistic about a further enhancement in the company's overall profitability in the future.
Based on the company's disclosed 2025 annual report data, previous profit forecasts have been adjusted. The report projects insurance service revenue for 2026-2028 to be 35.743 billion yuan, 37.631 billion yuan, and 39.702 billion yuan, respectively. Net profit attributable to shareholders is forecasted to be 1.190 billion yuan, 1.304 billion yuan, and 1.400 billion yuan for the same period. Earnings per share (EPS) are estimated at 0.71 yuan, 0.77 yuan, and 0.83 yuan for 2026-2028.
With ZA ONLINE's closing price on June 4, 2026, at HK$10.35 per share (using the June 4 exchange rate of 1 HKD = 0.86 CNY), the price-to-book (P/B) ratios for 2026-2028 correspond to 0.56x, 0.53x, and 0.50x. The brokerage maintains its "Add" rating on the stock.
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