According to the Zhongtong Finance & Economics app, Bank of America Securities has issued a research report reaffirming its 'buy' rating on China Pacific Insurance (02601). It is expected that the company's new business value and net profit growth in the first half of the year will be better than its peers, with a target price of HKD19.9.

Bank of America Securities predicts that China Pacific Insurance's new business value in the first half of the year will increase by 21% year-on-year, making it one of the fastest growing companies in the industry. The low base in August and September last year will further drive the growth of new business value in the third and fourth quarters. Therefore, the monthly performance is not considered an appropriate indicator to evaluate the company's value, particularly since the market seems to value profit growth over new business.