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02601 CPIC
RTNominal down34.650 -1.250 (-3.482%)
Research Report

07/01/2020 10:06

{I-bank focus}Daiwa lifts CPIC (02601) to HK$34; "hold"

[ET Net News Agency, 7 January 2020] Daiwa Research lifted its target price for China
Pacific Insurance (CPIC)(02601) to HK$34 from HK$31 and maintained its "hold" rating.
The research house said CPIC Life struggled in 2019 due to its management changes and
the beginning of its "Transformation 2.0" plan. Daiwa thinks the company will see a better
operating trend, in particular for agent productivity, in 2020.
The plan focuses on 3 areas: VNB growth, productivity uplift, and digital enabling.
Daiwa said CPIC Life's strategy shift features higher validation standards and digital
enablement, instead of agent numbers.
And the results of such a strategic shift should be reflected in productivity gains in
2020, derived from a rising proportion of core agents and top performers. (KL)

Remark: Real time quote last updated: 26/01/2021 17:59
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