JP-PICC@EC2612A

JPMorgan Cuts China Property Insurance Stake by 4.91M Shares on May 14, Raising About 75.1M HKD

Shanghai Financial Court Releases Property Insurance Contract Dispute Legal Risk Prevention Report

CITIC Securities Reiterates Buy Rating on PICC Property & Casualty with a Target Price of HKD 19.00

China PIC Profit Drops in Q1, But Cost Ratio Improves

Huatai Securities Reiterates Buy Rating on China PICC

UBS Gives Buy Recommendation on PICC Property & Casualty

China PICC Reports a 23.7% YoY Decrease in Net Profit in Q1 2026

China PICC reports 1.9% growth in Q1 insurance service revenue

PICC P&C to Release FY2026 Q1 Earnings on April 29 After-Market BJT

CSC Financial and Morgan Stanley Maintain Buy Rating on China PICC

Zhonghua P&T Subsidiary Fastly Settles Wild Animal Harm Incident

Morgan Stanley Downgrades China PICC's Target Price But Maintains Overweight Rating

China PICC Releases 2025 Sustainable Development Report

China PICC's premium income grew by 3.3% to 555.77 billion yuan in 2025

BOA Securities Downgrades PICC's Profit Forecast for 2026-2027

PICC P&C released FY2025 Q3 earnings on March 26 After-Market (BJT), actual revenue HKD 156.17 B, actual EPS HKD 0.3911

PICC P&C released FY2025 9 Months earnings on March 26 After-Market BJT, actual revenue HKD 436.96 B, actual EPS HKD 1.581

China PICC reports full-year net profit of 40.38 billion yuan

PICC P&C released FY2025 earnings on March 26 Pre-Market (BJT), actual revenue HKD 595.72 B (forecast HKD 578.85 B), actual EPS HKD 1.9837 (forecast HKD 2.1548)

PICC P&C released FY2025 Q4 earnings on March 26 Pre-Market (BJT), actual revenue HKD 158.87 B, actual EPS HKD 0.3978

QPL INT'L

TRIGIANT

NICHE-TECH SEMI

BJ DIGITAL

NATURE ENERGY T

C.BANNER

CHUNCHENG HEAT

GW TERROIR

JLOGO HLDGS

KWONG MAN KEE

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Harbin Branch of China People's Property Insurance Company Limited was fined 110,000 yuan by the Heilongjiang Financial Regulatory Bureau for providing policyholders and insured parties with insurance premium rebates or other benefits outside of the contract agreement

同壁财经

PICC P&C

The Harbin Branch of China People's Property Insurance Company Limited was fined 110,000 yuan for providing policyholders and insured parties with rebates or other benefits outside of the contractually agreed insurance premiums

Citic Securities has reaffirmed its Buy rating for PICC Property & Casualty Co (PPCCF) as of May 7, setting a price target of HK$19.00, while the shares closed at HK$14.87. Additionally, CMB International Securities also issued a Buy rating on May 4. Conversely, DBS maintained a Hold rating on April 30.

Tip Ranks

CITIC SEC

CITIC Securities Co., Ltd.

Citic Securities Sticks to Their Buy Rating for PICC Property & Casualty Co (PPCCF)

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Yesterday, Prudential's stock price surged by 4.04% at the close, with a trading volume of approximately HKD 42.95 million. The price and volume were well-coordinated, clearly breaking through the recent consolidation range. The MACD daily bullish signal has been established with strong momentum, and the short-term momentum indicators are accelerating divergence, which usually indicates that buying power is forming a consistent directional expectation, confirming a phase of upward trend. In terms of market performance, the stock price maintained strength throughout the day, closing in the high range of the day, with clear signals of bullish control. On the news front, the insurance sector collectively strengthened yesterday, with China Life rising by 4.28%, PICC P&C by 5.91%, CPIC by 3.37%, and AIA by 1.94%, forming a strong collective breakout trend in the sector. Prudential, as an international insurance giant covering the Asian and African markets, benefits from the long-term logic of increasing insurance penetration in emerging Asian markets. Recently, although Federal Reserve officials warned of inflation risks and the possibility of interest rate hikes, the high interest rates provide positive support for the investment income of insurance companies. The improvement in market risk appetite driven by the ceasefire sentiment also favors the valuation recovery of insurance stocks. Technically, the stock price has broken through the 5-day and 10-day moving average resistance, and the short-term moving average system is beginning to shift to a bullish arrangement. The trading volume has significantly increased compared to previous days, making the breakout action effective. The overall strength of the insurance sector provides strong support for individual stocks, and today it is necessary to pay attention to whether the sector's heat can continue. The short-term trend is biased towards bullish, with sector resonance combined with individual stock technical breakthroughs, indicating a high signal strength

Technical Forecast

CPIC

China Life

CHINA LIFE

Prudential plc

Prudential

Prudential USD

AIA-R

AIA Group

Pre-market trend | Prudential (2378.HK) surged over 4% on May 7 with increased volume, are the main players in the insurance sector buying up?

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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 GROUP

PICC Group

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

Huatai Securities has reaffirmed a Buy rating on PICC Property & Casualty Co (PPCCF), setting a price target of HK$20.70. The stock closed at HK$14.01 last Tuesday. The analyst consensus is a Strong Buy with an average price target of HK$19.58, indicating a potential upside of 39.78%. Morgan Stanley also maintains a Buy rating with a target of HK$20.50.

HTSC

Huatai Securities Co., Ltd. GDR Class A RegS

Morgan Stanley

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

Huatai Securities Reaffirms Their Buy Rating on PICC Property & Casualty Co (PPCCF)

BofAS has issued a research report on PICC P&C, maintaining a Buy rating with a target price of HKD18.4. The company reported a net profit of RMB8.6 billion in Q1, down 24% YoY, primarily due to a decline in investment income. Despite this, underwriting profit rose 7% YoY to RMB7.4 billion. Management aims for a FY26 combined ratio of 96% for auto insurance and below 100% for non-auto insurance. The valuation is attractive, with a forecast FY26 price-to-book ratio of 0.9x and a dividend yield of 5.5%.

Bank of America

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

BofAS: PICC P&C  Valuation Attractive, Buy Rating with TP at HKD18.4

UBS's report on PICC P&Cindicates solid underwriting performance in 1Q26, but weak investment results led to a 24% YoY drop in net profit after tax to RMB8.6 billion. The combined ratio improved to 94.2%, meeting expectations. UBS maintains a Buy rating with a target price of HKD20.

UBS Group AG

UBS: PICC P&C  1Q26 Underwriting Solid but Offset by Weak Investment Performance

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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 P&C+0.410 (+2.918%) Short selling $92.19M; Ratio 21.211% announced that in 1Q26, its insurance revenue amounted to RMB123.015 billion, up 1.9% YoY, while net profit was RMB8.631 billion, down 23.7% YoY.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-29 16:25.) AASTOCKS Financial News

PICC P&C 1Q NP Drops 23.7% YoY to RMB8.631B

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

JP-PICC@EC2612A(28576.HK)

The Harbin Branch of China People's Property Insurance Company Limited was fined 110,000 yuan for providing policyholders and insured parties with rebates or other benefits outside of the contractually agreed insurance premiums

Citic Securities Sticks to Their Buy Rating for PICC Property & Casualty Co (PPCCF)

Pre-market trend | Prudential (2378.HK) surged over 4% on May 7 with increased volume, are the main players in the insurance sector buying up?

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

Huatai Securities Reaffirms Their Buy Rating on PICC Property & Casualty Co (PPCCF)

BofAS: PICC P&C Valuation Attractive, Buy Rating with TP at HKD18.4

UBS: PICC P&C 1Q26 Underwriting Solid but Offset by Weak Investment Performance

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

PICC P&C 1Q NP Drops 23.7% YoY to RMB8.631B

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