CMB International lowered the target price for ZA ONLINE to 18 yuan and maintained a "Buy" rating

AASTOCKS
2026.03.25 02:19

Zhao Yin International published a research report indicating that ZA ONLINE (06060.HK) saw its net profit increase by 83% year-on-year to RMB 1.1 billion last year, which was below expectations. The net profit for the second half of the year fell by 21% year-on-year to RMB 434 million. The comprehensive cost ratio (CoR) increased by 1.1 percentage points year-on-year to 95.8%, which was higher than expected, mainly due to strong performance in the healthcare and automotive sectors.

The bank stated that looking ahead to the fiscal year 2026, the company's health and automotive businesses will continue to be key drivers of underwriting (UW) and sales growth, as they have a large potential market. Additionally, ZA ONLINE has the potential to further expand its customer wallet share through artificial intelligence empowerment.

The bank lowered the target price for ZA ONLINE from HKD 23 to HKD 18, maintaining a "Buy" rating

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