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02318
PING AN
HKD
73.0003.400
(4.89%)
1D
AI Analysis for 02318
AI Analysis
High
73.350
Open
71.800
VWAP
72.53
Vol
52.36M
Mkt Cap
1.03T
Low
70.700
Amount
3.80B
EV/EBITDA(TTM)
34.14
Total Shares
18.11B
EV
6.97T
EV/OCF(TTM)
24.25
P/S(TTM)
1.48
Ping An Insurance (Group) Co of China Ltd is a China-based company primarily engaged in insurance business. The Company operates in six segments. Life and Health Insurance segment offers life insurance products to individual and corporate customers, including including term, whole-life, endowment, annuity, investment-linked, universal life insurance, and others. Property and Casualty Insurance segment offers property insurance products, including auto insurance, property insurance, accident and health insurance, and others. Banking segment undertakes loans, intermediary business, wealth management, credit card services, and others. Asset Management segment provides trust products services, brokerage services, trading services, investment banking services, and other asset management services. Finance Enablement segment provides financial and daily-life services through the Internet platforms. The Other Businesses segment is engaged in other insurance related businesses.
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News
6.5
04:38 AMaastocks<JPM's New 'High-Conviction' Stock Picks in Emerging Markets (Table)>
JPMorgan's High-Conviction Stocks: JPMorgan has identified several "High-Conviction" stocks in emerging markets, all rated as Overweight, including Hong Kong-listed BABA-W, PING AN, and ZIJIN MINING.
Stock Performance and Short Selling: The report highlights the short selling data for these stocks, with BABA-W showing a short selling ratio of 17.737%, PING AN at 30.252%, and ZIJIN MINING at 30.161%.
Additional Stock Picks: Other notable stocks listed in different regions include TSMC in Taiwan, Samsung Electronics in South Korea, and State Bank of India in India, among others.
Market Reactions: Morgan Stanley has maintained TENCENT as a top pick, suggesting that the market may be overreacting to potential negative impacts from VAT regulation.
4.5
04:33 AMaastocksHSI Soars 385 Points at Midday, Driven by Chinese Insurers and Financials; POP MART Rises Over 5%
Market Performance: The HSI rose 1.5% to 26,945, with significant gains in the HSCEI and HSTECH, while total half-day turnover reached $136.256 billion.
Insurance Sector Gains: Chinese insurers like CHINA LIFE and PING AN saw increases of 4.5% and 4.1%, respectively, following PING AN's stake increase in CHINA LIFE.
Financial Stocks Surge: Major financial stocks including HSBC and HKEX experienced gains between 2.6% and 3.0%, contributing to a positive market sentiment.
Consumer Stocks Rally: Companies like POP MART and CTG DUTY-FREE reported substantial increases, with POP MART noted for its potential upside based on investor positions and upcoming product designs.
4.5
02-06aastocks<Full-day Summary> HSI Falls 325 Points; HSTI Declines 59 Points; AIA Drops More Than 5%; ZTO EXPRESS-W, BOC HONG KONG, SHK PPT, REALORD GROUP, SANY INT'L Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) fell by 325 points (1.2%) to 26,559, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also experienced declines, with market turnover reaching $247.87 billion.
Active Heavyweights: Major stocks like Alibaba, Meituan, and Tencent saw significant drops, with Alibaba closing down 2.9% at $155, while Xiaomi and CCB managed slight gains.
Notable Movers: AIA experienced a sharp decline of 5.5%, while Li Auto and Mengniu Dairy saw increases of 3.6% and 3%, respectively, with several stocks hitting new highs.
Short Selling Trends: High short selling ratios were noted for several companies, including Ping An and CCB, indicating increased market speculation and potential bearish sentiment.
4.5
02-06aastocks<Midday Update> HSI Declines by 304 Points; HSTI Falls by 25 Points; LI AUTO Rises Over 5%; REALORD GROUP, ND PAPER, SANY INT'L, BOC AVIATION, BJ ENT WATER Reach New Peaks
Market Performance: The Hang Seng Index (HSI) fell by 304 points (1.1%) to 26,580, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also experienced declines.
Active Heavyweights: Major stocks like Alibaba, Meituan, and Ping An saw significant drops, with Alibaba closing down 2.6% and Meituan down 1.9%, while Xiaomi was an exception, rising by 1.5%.
Notable Movers: LI Auto surged by 5.3%, while AIA and HSBC Holdings dropped by 4.9% and 3.3%, respectively, indicating mixed performance among HSI and HSCEI constituents.
High Performers and Decliners: In the HSMI and HSSI, INNOCARE rose by 11.1%, while MIRXES-B fell by 10.4%, showcasing a diverse range of stock movements within the market.
6.5
02-04aastocksM Stanley's H Shares Focus List (Table)
Morgan Stanley's Strategy Report: The report highlights a focus on Hong Kong and Chinese stocks, removing YANGTZE POWER and adding CHALCO to the list.
Stock Performance Insights: Notable potential upside percentages are reported for various stocks, including Alibaba (3.3%) and CATL (43.3%), while some stocks like ESPRESSIF show a decline (-2.498%).
Short Selling Trends: Significant short selling activity is noted across several stocks, with Tencent experiencing the highest short selling amount at $1.59 billion and a ratio of 9.036%.
Market Outlook: Daiwa anticipates a structural recovery in Chinese stocks by 2025, despite a majority of consumers expecting profit deterioration.
Money Flow
Over the past 66 trading days, overall net money flow is 595.63M, with retail investors contributing 191.20M and major investors adding 178.36M.
Net Buy $ Volume
Net Sell $ Volume
CMBI
CMBI
Buy
maintain
$75 -> $90
2026-01-26
Reason
The analyst rating of "Buy" for PING AN (02318.HK) by CMBI is based on several key factors:
1. Target Price Increase: CMBI raised its target price for PING AN's H-shares from $75 to $90, indicating a positive outlook on the stock's future performance.
2. Valuation Metrics: The new target price corresponds to a forecasted price-to-embedded value (PEV) ratio of approximately 0.9x and a price-to-book (PB) ratio of 1.24x for 2026, suggesting that the stock is undervalued relative to its expected growth.
3. Bancassurance Channel Expansion: PING AN is expanding its bancassurance channels, which currently cover about 19,000 non-Ping An Bank outlets. The report highlights the potential for further penetration in this area, especially as household depositors seek solid returns.
4. Growth in New Business Value: The expected growth in PING AN's new business value (NBV) by 41.7% in 2025 and 17.7% in 2026 indicates strong future performance and profitability.
These factors collectively support the "Buy" rating, reflecting confidence in PING AN's growth prospects and market position.
CMBI
Buy
Price Target
$75 -> $90
2026-01-26
maintain
The analyst rating of "Buy" for PING AN (02318.HK) by CMBI is based on several key factors:
1. Target Price Increase: CMBI raised its target price for PING AN's H-shares from $75 to $90, indicating a positive outlook on the stock's future performance.
2. Valuation Metrics: The new target price corresponds to a forecasted price-to-embedded value (PEV) ratio of approximately 0.9x and a price-to-book (PB) ratio of 1.24x for 2026, suggesting that the stock is undervalued relative to its expected growth.
3. Bancassurance Channel Expansion: PING AN is expanding its bancassurance channels, which currently cover about 19,000 non-Ping An Bank outlets. The report highlights the potential for further penetration in this area, especially as household depositors seek solid returns.
4. Growth in New Business Value: The expected growth in PING AN's new business value (NBV) by 41.7% in 2025 and 17.7% in 2026 indicates strong future performance and profitability.
These factors collectively support the "Buy" rating, reflecting confidence in PING AN's growth prospects and market position.
CICC
Outperform
maintain
$99.4
2026-01-23
Reason
The analyst rating for PING AN (02318.HK) remains unchanged at "Outperform" with a target price of HKD99.4 due to positive growth estimates in key financial metrics. CICC's research report projects a 5.2% year-over-year increase in net profit attributable to shareholders, an 8.8% rise in operating profit, and a 6.2% increase in the full-year dividend per share. These favorable projections contribute to the positive outlook and sustained rating.
CICC
Outperform
Price Target
$99.4
2026-01-23
maintain
The analyst rating for PING AN (02318.HK) remains unchanged at "Outperform" with a target price of HKD99.4 due to positive growth estimates in key financial metrics. CICC's research report projects a 5.2% year-over-year increase in net profit attributable to shareholders, an 8.8% rise in operating profit, and a 6.2% increase in the full-year dividend per share. These favorable projections contribute to the positive outlook and sustained rating.
UBS
maintain
$70
2025-12-08
Reason
The analyst rating for PING AN (02318.HK) is a Buy, primarily due to several key factors highlighted in the UBS research report. These include:
1. Attractive Risk/Reward: The stock presents a favorable risk/reward profile, making it an appealing investment choice.
2. Strong Growth Acceleration: UBS anticipates significant growth in the group's operating profit after tax (OPAT) in the fourth quarter of 2025.
3. High Expected Dividend Yields: The expected dividend yields of 4.9% for 2025 and 5.1% for 2026 are relatively high, which adds to the stock's attractiveness.
4. Clear Dividend Policy: The presence of a clear dividend policy further enhances investor confidence in the stock.
Overall, these factors contribute to UBS's positive outlook on PING AN, reinforcing its position as a top pick in the insurance sector.
UBS
Price Target
$70
2025-12-08
maintain
The analyst rating for PING AN (02318.HK) is a Buy, primarily due to several key factors highlighted in the UBS research report. These include:
1. Attractive Risk/Reward: The stock presents a favorable risk/reward profile, making it an appealing investment choice.
2. Strong Growth Acceleration: UBS anticipates significant growth in the group's operating profit after tax (OPAT) in the fourth quarter of 2025.
3. High Expected Dividend Yields: The expected dividend yields of 4.9% for 2025 and 5.1% for 2026 are relatively high, which adds to the stock's attractiveness.
4. Clear Dividend Policy: The presence of a clear dividend policy further enhances investor confidence in the stock.
Overall, these factors contribute to UBS's positive outlook on PING AN, reinforcing its position as a top pick in the insurance sector.
Morgan Stanley
maintain
2025-12-08
Reason
The analyst rating from Morgan Stanley is based on the belief that the recent measures issued by China's National Administration of Financial Regulation (NAFR) will benefit insurers by easing capital requirements and encouraging them to invest in the stock market as long-term investors. This is expected to lead to continued inflows of insurance funds into the stock market, which could positively impact equity markets. As a result, Morgan Stanley reiterated its top pick view on PING AN, anticipating that the company could further benefit from the new regulatory rule.
Morgan Stanley
Price Target
2025-12-08
maintain
The analyst rating from Morgan Stanley is based on the belief that the recent measures issued by China's National Administration of Financial Regulation (NAFR) will benefit insurers by easing capital requirements and encouraging them to invest in the stock market as long-term investors. This is expected to lead to continued inflows of insurance funds into the stock market, which could positively impact equity markets. As a result, Morgan Stanley reiterated its top pick view on PING AN, anticipating that the company could further benefit from the new regulatory rule.
Morgan Stanley
Morgan Stanley
Overweight
maintain
$89
2025-12-05
Reason
Morgan Stanley's positive analyst rating for PING AN (02318.HK) is based on the belief that the company can capitalize on key opportunities in wealth management, healthcare, and senior care services. The firm noted that investor concerns are diminishing, which could lead to a revaluation of the stock. Additionally, the report highlights PING AN's significant growth potential, driven by the solid growth of Chinese household wealth, with financial assets projected to grow at a compound annual growth rate (CAGR) of 8% from 2024 to 2030, reaching RMB440 trillion. This growth is expected to benefit insurance products, positioning PING AN as a major beneficiary in these sectors. As a result, Morgan Stanley reiterated an Overweight rating for PING AN's H-/A-shares and raised its target prices by 27% and 21%, respectively.
Morgan Stanley
Overweight
Price Target
$89
2025-12-05
maintain
Morgan Stanley's positive analyst rating for PING AN (02318.HK) is based on the belief that the company can capitalize on key opportunities in wealth management, healthcare, and senior care services. The firm noted that investor concerns are diminishing, which could lead to a revaluation of the stock. Additionally, the report highlights PING AN's significant growth potential, driven by the solid growth of Chinese household wealth, with financial assets projected to grow at a compound annual growth rate (CAGR) of 8% from 2024 to 2030, reaching RMB440 trillion. This growth is expected to benefit insurance products, positioning PING AN as a major beneficiary in these sectors. As a result, Morgan Stanley reiterated an Overweight rating for PING AN's H-/A-shares and raised its target prices by 27% and 21%, respectively.
Morgan Stanley
Morgan Stanley
upgrade
2025-12-05
Reason
Morgan Stanley's analyst rating for PING AN (02318.HK) is based on several key factors:
1. Expansion into New Markets: PING AN is actively expanding into wealth management, healthcare, and elderly care markets, which is expected to drive continuous growth in revenue and profits.
2. Robust Growth in Life Insurance: The broker estimates that the new business value of PING AN's life insurance segment will see significant growth in the coming years, allowing the company to maintain its competitive edge in agency and banking channels.
3. Diminishing Real Estate Risks: Morgan Stanley believes that the market's primary concern regarding real estate risk is decreasing, which could positively impact PING AN's performance.
4. AI Implementation: The company's application of artificial intelligence is seen as a promising investment opportunity, as it aims to reduce costs and risks while enhancing operational efficiency.
These factors collectively contribute to Morgan Stanley's positive outlook on PING AN, leading to its inclusion in the focus list.
Morgan Stanley
Price Target
2025-12-05
upgrade
Morgan Stanley's analyst rating for PING AN (02318.HK) is based on several key factors:
1. Expansion into New Markets: PING AN is actively expanding into wealth management, healthcare, and elderly care markets, which is expected to drive continuous growth in revenue and profits.
2. Robust Growth in Life Insurance: The broker estimates that the new business value of PING AN's life insurance segment will see significant growth in the coming years, allowing the company to maintain its competitive edge in agency and banking channels.
3. Diminishing Real Estate Risks: Morgan Stanley believes that the market's primary concern regarding real estate risk is decreasing, which could positively impact PING AN's performance.
4. AI Implementation: The company's application of artificial intelligence is seen as a promising investment opportunity, as it aims to reduce costs and risks while enhancing operational efficiency.
These factors collectively contribute to Morgan Stanley's positive outlook on PING AN, leading to its inclusion in the focus list.
Citi
maintain
$68
2025-11-14
Reason
The analyst rating from Citi for PING AN (02318.HK) is a "Buy" with a target price of HKD68. The reasons for this rating include:
1. Management Confidence: Ping An's management expressed confidence in sales growth for the first quarter of 2026, indicating a positive outlook for the company's performance.
2. Market Demand: There is robust market demand for insurance savings, which presents opportunities for Ping An to capitalize on through its savings products.
3. Agent Productivity: The productivity of agents has been growing over the past five quarters, which is expected to enhance new business value growth.
4. Banking Channel Expansion: The company has increased its banking channels with partners outside of Ping An Bank and has strengthened its banca staff following integration with private banking staff, which could further support growth.
These factors collectively contribute to the positive rating and target price set by Citi.
Citi
Price Target
$68
2025-11-14
maintain
The analyst rating from Citi for PING AN (02318.HK) is a "Buy" with a target price of HKD68. The reasons for this rating include:
1. Management Confidence: Ping An's management expressed confidence in sales growth for the first quarter of 2026, indicating a positive outlook for the company's performance.
2. Market Demand: There is robust market demand for insurance savings, which presents opportunities for Ping An to capitalize on through its savings products.
3. Agent Productivity: The productivity of agents has been growing over the past five quarters, which is expected to enhance new business value growth.
4. Banking Channel Expansion: The company has increased its banking channels with partners outside of Ping An Bank and has strengthened its banca staff following integration with private banking staff, which could further support growth.
These factors collectively contribute to the positive rating and target price set by Citi.
JPMorgan
JPMorgan
Buy
maintain
2025-11-07
Reason
The analyst rating is influenced by several factors highlighted in the report. The core solvency ratios of Chinese insurers have declined, with an average decrease of 9 percentage points, primarily due to the rebound in China's bond yields, which negatively impacted solvency. However, strong earnings and reserve growth have helped mitigate this negative effect.
JPMorgan's preference for CHINA LIFE is based on its strong earnings and conservative solvency capital management, while PING AN is favored due to its year-to-date underperformance and a favorable dividend yield forecast of 6% for 2026. The report also notes that despite strong earnings growth, the volatility in solvency capital could affect year-end dividend forecasts, particularly for smaller insurers.
JPMorgan
Buy
Price Target
2025-11-07
maintain
The analyst rating is influenced by several factors highlighted in the report. The core solvency ratios of Chinese insurers have declined, with an average decrease of 9 percentage points, primarily due to the rebound in China's bond yields, which negatively impacted solvency. However, strong earnings and reserve growth have helped mitigate this negative effect.
JPMorgan's preference for CHINA LIFE is based on its strong earnings and conservative solvency capital management, while PING AN is favored due to its year-to-date underperformance and a favorable dividend yield forecast of 6% for 2026. The report also notes that despite strong earnings growth, the volatility in solvency capital could affect year-end dividend forecasts, particularly for smaller insurers.
CMB International
CMB International
upgrade
$71 -> $75
2025-11-03
Reason
The analyst rating for PING AN (02318.HK) was raised to a "Buy" due to several positive factors highlighted in the report. These include:
1. Strong Financial Performance: The company's net profit for the first three quarters of 2025 increased by 11.5% year-over-year, reaching RMB133 billion, with a particularly strong growth of 45.4% in the third quarter, surpassing the broker's expectations.
2. Growth in New Business Value (NBV): The NBV for the same period rose by 46.2% to RMB35.7 billion, with a significant 58.3% growth in the third quarter, driven by robust performance in agency and bancassurance channels.
3. Improved Investment Income: The report noted an improvement in investment income, which positively impacts overall profitability.
4. Easing Drag from Asset Management: There was a reduction in the negative impact from the asset management segment, contributing to better financial results.
5. Strengthened Intra-group Synergies: Enhanced synergies within the group are expected to further support growth.
As a result of these factors, the broker raised its earnings per share (EPS) forecasts for 2025-2027 and increased the target price from HKD71 to HKD75, reinforcing the positive outlook on the stock.
CMB International
Price Target
$71 -> $75
2025-11-03
upgrade
The analyst rating for PING AN (02318.HK) was raised to a "Buy" due to several positive factors highlighted in the report. These include:
1. Strong Financial Performance: The company's net profit for the first three quarters of 2025 increased by 11.5% year-over-year, reaching RMB133 billion, with a particularly strong growth of 45.4% in the third quarter, surpassing the broker's expectations.
2. Growth in New Business Value (NBV): The NBV for the same period rose by 46.2% to RMB35.7 billion, with a significant 58.3% growth in the third quarter, driven by robust performance in agency and bancassurance channels.
3. Improved Investment Income: The report noted an improvement in investment income, which positively impacts overall profitability.
4. Easing Drag from Asset Management: There was a reduction in the negative impact from the asset management segment, contributing to better financial results.
5. Strengthened Intra-group Synergies: Enhanced synergies within the group are expected to further support growth.
As a result of these factors, the broker raised its earnings per share (EPS) forecasts for 2025-2027 and increased the target price from HKD71 to HKD75, reinforcing the positive outlook on the stock.
Goldman Sachs
Goldman Sachs
Buy
maintain
$63 -> $64
2025-11-03
Reason
The analyst rating from Goldman Sachs for PING AN (02318.HK) is based on the company's 3Q25 results, which exceeded both the broker's and market expectations. The positive performance was attributed to substantial equity investment gains, strong new policy sales momentum, and a significant reduction in losses in asset management. As a result of these factors, Goldman Sachs raised its target price from HKD63 to HKD64 and maintained a Buy rating.
Goldman Sachs
Buy
Price Target
$63 -> $64
2025-11-03
maintain
The analyst rating from Goldman Sachs for PING AN (02318.HK) is based on the company's 3Q25 results, which exceeded both the broker's and market expectations. The positive performance was attributed to substantial equity investment gains, strong new policy sales momentum, and a significant reduction in losses in asset management. As a result of these factors, Goldman Sachs raised its target price from HKD63 to HKD64 and maintained a Buy rating.
Valuation Metrics
Forward PE
N/A
5Y Average PE
0.16
Current PE
0.00
Overvalued PE
1.28
Undervalued PE
-0.95
Forward EV/EBITDA
N/A
5Y Average EV/EBITDA
0.00
Current EV/EBITDA
0.00
Overvalued EV/EBITDA
0.00
Undervalued EV/EBITDA
0.00
Forward PS
N/A
5Y Average PS
1.29
Current PS
0.00
Overvalued PS
1.60
Undervalued PS
0.98
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