Property and Casualty Insurance

PICC GROUP

Ping An Health and PICC Health 21-Year Review: 2025 Core Metrics Comparison and Operational Differences Analysis

Guotai Junan Maintains Buy Rating on PICC

JPMorgan Releases Report on PICC Group's Earnings

PICC Releases 1Q2026 Financial Report

JPMorgan Increases Stake in PICC Group to 9.04%

PICC GROUP released FY2026 Q1 earnings on April 29 After-Market (BJT), actual revenue HKD 148.65 B, actual EPS HKD 0.2154

People's Insurance Company of China Reports 2025 Annual Results

China PICC to Announce Q1 2026 Earnings

PICC GROUP to Release FY2026 Q1 Earnings on April 29 After-Market (BJT)

People's Life Insurance Pre-announces Sale of 100% Equity and Related Debts of China-US International Insurance Sales Services Co., Ltd.

Morgan Stanley and Citibank Lowered Target Price for China PICC H-Share

Morgan Stanley Cuts PICC Group's Target Price to HKD 7.7

Citibank Downgrades PICC's Earnings Forecast and Target Price

PICC Reports Strong 2025 Performance and Outlines Future Strategy

CP of PICC introduces strong 2026 opening red

China PICC Optimizes Investment Strategy to Stabilize Net Investment Returns

PICC OCI Equity Investment Scale Grew by 158% in 2025

People's Insurance of China Announces 2025 Annual Performance

China PICC's Stock Price and MSCI ESG Rating Reach All-Time High

China PICC Life Insurance Cuts Agents, Shifts Focus to Bank Insurance Channel

HINSANG GROUP

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BRAINAURORA-B

SOFTMEDX

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VISION SYNERGY

GEMILANG INTL

GHPC

01339

06099

01698

00883

01766

02513

00100

06656

01772

03296

PICC GROUP(01339) rose 7.41%, with a trading turnover 822.3 Million HKD, and a year-to-date fell 16.3%. CMSC(06099) rose 6.48%, with a trading turnover 275.5 Million HKD, and a year-to-date rose 6%. KNOWLEDGE ATLAS(02513) fell 9.41%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 786.4%. MINIMAX-W(00100) fell 7.19%, with a trading turnover 612.5 Million HKD, and a year-to-date rose 350%.

Top Gainers&Losers

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KNOWLEDGE ATLAS

MINIMAX-W

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Top 5 HK Stock Gainers/Losers (>100B) (5.19)

601319

Guotai Haitong has maintained a Buy rating on People’s Insurance Co (Group) of China (PINXF), setting a price target of HK$8.20. The shares closed at HK$5.45 last Tuesday. The analyst consensus for the company is a Strong Buy, with an average price target of HK$7.83.

Tip Ranks

PICC Group

People’s Insurance Co (Group) of China (PINXF) Gets a Buy from Guotai Haitong

02328

CMBI reported that PICC P&Cexperienced a 23.7% YoY decline in net profit to RMB8.63 billion in Q1, falling short of market expectations due to reduced investment income. However, the combined ratio improved to 94.2%, exceeding expectations. Total investment income dropped 38.4% YoY to RMB4.6 billion. CMBI maintains a Buy rating with a target price of HKD20, citing potential catalysts such as rising auto insurance premiums and new car sales incentives.

AASTOCKS News

PICC P&C

CMBI: PICC P&C  1Q Net Profit Down 23.7% YoY; Combined Ratio Beats; Maintains Buy with TP HKD20

CICC reported that PICC P&Cexperienced a 23.7% YoY decline in net profit to RMB8.631 billion in 1Q, attributed to a high investment base and capital market volatility. However, underwriting profitability improved, with the combined ratio rising 0.3 ppts YoY to 94.2%. The annualized total investment yield decreased by 0.5 ppts YoY to 0.7%. Despite the profit drop, net assets increased by 2.8% since the start of the year. CICC maintained its earnings forecasts for 2026/2027 and reiterated an Outperform rating with a target price of HKD19.1.

CICC

CICC: PICC P&C  1Q Net Profit Under Pressure, Underwriting Profitability Improves

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.

Morgan Stanley

Bank of America

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

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

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

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

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Morgan Stanley's report on PICC P&Cindicates strong underwriting performance in 1Q26, despite a 23.7% YoY decline in net profit, slightly worse than the expected 20% drop. The implied annualized ROE is 11.9%, with a 1.8% QoQ increase in BVPS. Management is optimistic about full-year guidance and growth in the auto insurance market, with premium growth expected to align with industry trends. The stock is rated Overweight with a target price of HKD20.5.

CHINA RE

M Stanley: PICC P&C  1Q26 Underwriting Strong but Investment Under Pressure, Rates Overweight

PICC GROUPreported a 31.4% year-on-year decline in net profit for Q1 2026, totaling RMB8.814 billion. Revenue fell by 5.1% to RMB148.536 billion. Insurance service income rose 2% to RMB138.881 billion, with PICC Property and Casualty contributing RMB123.015 billion and a net profit of RMB8.631 billion. PICC Life's insurance service income was RMB6.688 billion, net profit at RMB1.962 billion, while PICC Health reported RMB8.164 billion in service income and RMB1.965 billion in net profit. The combined ratio improved to 94.2%.

BROS

PICC GROUP  1Q26 Net Profit Falls 31.4% YoY to RMB8.814 billion

China People's Insurance Group (1339.HK) continued to perform poorly today, with the daily MACD indicator showing a death cross and the stock price unable to stabilize above the short-term moving average. Low trading volume reflects the market's cautious wait-and-see sentiment. The entire insurance sector is under pressure due to declining market liquidity and rising industry payout pressures, complicating valuation. Whether the technical support level of HKD 10.80 can be maintained is an important point of focus; if it breaks, it will further amplify market panic. Investment strategies need to pay attention to subtle changes in individual stocks and sector data, as a warming market awaits more data validation

Technical Forecast

Morning Trend | PICC GROUP (1339.HK) Key Support Faces Test

PICC GROUP(01339.HK)

Top 5 HK Stock Gainers/Losers (>100B) (5.19)

People’s Insurance Co (Group) of China (PINXF) Gets a Buy from Guotai Haitong

CMBI: PICC P&C 1Q Net Profit Down 23.7% YoY; Combined Ratio Beats; Maintains Buy with TP HKD20

CICC: PICC P&C 1Q Net Profit Under Pressure, Underwriting Profitability Improves

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

M Stanley: PICC P&C 1Q26 Underwriting Strong but Investment Under Pressure, Rates Overweight

PICC GROUP 1Q26 Net Profit Falls 31.4% YoY to RMB8.814 billion

Morning Trend | PICC GROUP (1339.HK) Key Support Faces Test