[ET Net News Agency, 16 November 2018] Daiwa Research lowered its target price for PICC
Group (01339) to HK$4.2 from HK$5 and maintained its "buy" rating.
The research house cited PICC management saying that it will promote its critical
illness products, such as "Wu You Ren Sheng", and other long-term regular premium
products, along with some savings products. Pricing interest rates for these products have
been capped at 3.5%. Management expects negative growth in savings products during the
jumpstart period.
For 2019, PICC Life plans to focus more on products with high VNB and regular premium,
and actively cut down the proportion of short-term and single-premium products. PICC Life
targets positive YoY growth in both VNB and FYP for 2019.
Daiwa cut its 2018-20 net profit forecasts by 3-16%, mainly due to earnings cuts at PICC
P&C (02328). (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01339 PICC GROUP
Nominal 
2.640 +0.030 (+1.149%) Others
16/11/2018 10:24
[I-bank focus]Daiwa lowers PICC Group (01339) to HK$4.2
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |