The Zhitong Finance App learned that CICC released a research report stating that it maintains Sunshine Insurance (06963)'s “outperforming the industry” rating, with a target price of HK$5.8. The company completed full circulation of H shares on January 12, 2024, and the converted shares were listed and traded on the Stock Exchange on January 15. Currently, the company's latest shares in circulation have reached 3.48 billion shares, accounting for 30.25% of the total number of issued shares.

According to the report, the increase in liquidity of Sunshine Insurance is expected to improve valuation discounts, and it is recommended to focus on changes in asset-side sentiment to find investment opportunities. The bank expects that as the company's liquidity improves, its stock price will better reflect the fundamental situation. Furthermore, the bank believes that under the influence of economic recovery expectations and capital market fluctuations, China's life insurance industry is being systematically underestimated. It is recommended to focus on changes in asset-side expectations to find investment opportunities.