According to the Huatai Securities Research Report, according to China's Taibao performance pre-increase announcement, net profit for the first three quarters of 24 years is expected to be about 37-39.4 billion yuan, an increase of 60-70% over the previous year. Benefiting from the rise in the stock market at the end of Q3, the company's investment income rose sharply year-on-year in the first three quarters, driving a high increase in net profit. As of 1H24, the company's equity asset allocation ratio was 11.7%, which is at the midstream level of listed insurance companies. In addition, as the effects of agent reform continue to be released, the company's agent production capacity continues to rise. The monthly first-year premium per person for 1H24 core workers increased 10.6% year-on-year, and may continue to increase in the second half of the year. The DCF-based A/H target price was raised to RMB43/HKD33 to maintain the “buy” rating.

According to the Huatai Securities Research Report, according to China's Taibao performance pre-increase announcement, net profit for the first three quarters of 24 years is expected to be about 37-39.4 billion yuan, an increase of 60-70% over the previous year. Benefiting from the rise in the stock market at the end of Q3, the company's investment income rose sharply year-on-year in the first three quarters, driving a high increase in net profit. As of 1H24, the company's equity asset allocation ratio was 11.7%, which is at the midstream level of listed insurance companies. In addition, as the effects of agent reform continue to be released, the company's agent production capacity continues to rise. The monthly first-year premium per person for 1H24 core workers increased 10.6% year-on-year, and may continue to increase in the second half of the year. The DCF-based A/H target price was raised to RMB43/HKD33 to maintain the “buy” rating.