<div id="readability-page-1"><div><p>PICC GROUP (01339.HK)<span> </span><span> +0.130 (+2.457%)  </span> <span> Short selling $99.02M; Ratio 19.555%  </span>  closed at HKD5.42 at midday, up 2.46%, with 52.161 million shares traded, involving HKD279 million.</p><p>M Stanley said in a research report that PICC Group's 1Q results were in line with expectations. Life, P&amp;C and health insurance businesses delivered solid performance, though investment performance was a drag. During the period, net profit fell 31.4% YoY to RMB8.814 billion, in line with the brokers expectations, mainly due to weak investment income. The report noted that the value of new business (VNB) of its life insurance segment recorded a healthy 21% YoY growth, with improvements in business mix. M Stanley said the drag from investment performance could be temporary, as management revealed that its equity investments rebounded strongly in April and achieved YoY growth. Management also emphasized that the continued increase in dividend per share will not be affected by earnings volatility. The broker assigned an Overweight rating with a TP of HKD7.7 for PICC Group.</p><p>BofAS noted in a research report that PICC Groups 1Q net profit was RMB8.8 billion, down 31% YoY, mainly due to lower investment income. Realized investment gains increased from RMB12.2 billion to RMB22 billion during the period, but fair value losses widened from RMB0.5 billion to RMB21.1 billion. P&amp;C underwriting profit reached RMB7.4 billion, up 7% YoY, partly driven by lower catastrophe losses and expenses. The annualized total investment return rate for 1Q was 0.5%. The broker maintained its TP at HKD7.5 and said that after the recent market correction, the stock is trading at only 0.6x 2026 forecast price-to-book ratio, with a dividend yield of 5%. It reiterated a Buy rating.</p><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p></div></div>

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<p>PICC Groupshares rose 2.5% to HKD5.42 after reporting 1Q results that met expectations, despite a 31.4% YoY drop in net profit to RMB8.814 billion due to weak investment income. M Stanley and BofAS remain positive, with M Stanley assigning an Overweight rating and a target price of HKD7.7, while BofAS maintains a Buy rating with a target price of HKD7.5. Both brokers noted strong performance in life and P&C insurance segments, with improvements in business mix and dividend stability.</p>

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BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

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PICC GROUP  Gains 2.5% Post-Results; M Stanley and BofAS Remain Positive