According to Zhongtong Finance App, Bocom Intl has released a research report stating that it is expected that both the asset and liability ends of China Taiping (00966) will show a rebound trend by 2024. Based on the adjustment of the group's financial forecast according to the new accounting standards, it is predicted that the group's profits will increase by 17% YoY this year, and the target price will be raised from HKD 9.6 to HKD 10.66, an increase of 10.4%, while maintaining a 'buy' rating.

The bank said that after the promotion of the bank-insurance channel, the new business value of the group's bank-insurance new business has grown strongly. With the YoY increase in the new business value rate this year, Bocom Intl predicts that China Taiping's new business value is expected to increase by more than 10% YoY this year. In addition, it is expected that the launch of supportive policies for the real estate industry will help to improve economic growth expectations. This year, the insurance investment yield is expected to rise YoY, while promoting profit growth. In addition, China Taiping Life's solvency adequacy ratio is higher than that of its peers.