Jinwu Finance | bocom intl released a research report indicating that the bank has adjusted china taiping's (00966) profit forecasts and valuations. The bank adjusted the company's profit and new business value forecasts based on the company's solvency report and industry third-quarter reports, expecting the company's profit growth rate in 2024 to accelerate based on the low baseline in the second half of 2023, with new business value growth continuing to lead the industry.

The bank expects that the policies already announced to support the economy and stabilize the capital markets will continue to be implemented, and there remains room for more robust fiscal policies, which will drive the stock market to stabilize and rebound, benefiting the performance of insurance companies' assets. Based on a 0.5 times pb for 2025, the bank has raised the company's target price from 11.6 HKD to 15.0 HKD, maintaining a buy rating.