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《大行》高盛：中國平安(02318.HK)以股代息增持陸控(06623.HK) 短期財務影響有限

Goldman Sachs: Ping An Insurance (02318.HK) increased its shareholding in Lucontrol (06623.HK) by stock dividend, with limited short-term financial impact.

AASTOCKS ·  Jul 4 10:30

Ping An Insurance (02318.HK) chose to increase its shareholding in Lufax (06623.HK) through stock dividends to 56.82%. Goldman Sachs' report stated that Lufax's net profit in the 2023 fiscal year was CNY 1 billion, and its net loss in the first quarter of the 2024 fiscal year was CNY 800 million, accounting for only 1% and 2% of Ping An's net profit in the first quarter of the 2023 and 2024 fiscal years, respectively. Therefore, the bank believes that the short-term impact on finances is limited.

Goldman Sachs continues to believe that Ping An Insurance's net profit and operating profit will grow strongly in the 2024 fiscal year, partly due to the low base effect of the 2023 fiscal year. Within the scope of its coverage, Ping An is most sensitive to macroeconomic recovery and policy support for the real estate industry. The bank gives Ping An Insurance a "buy" rating with a target price of 55 yuan.

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