---
title: "CMBI Expects PING AN  2Q Operating Profit Growth Momentum to Continue, New Business Value Growth to Slow"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293428183.md"
description: "CMBI maintains a 'Buy' rating on Ping An, forecasting 1H25 operating profit growth of 7.2% YoY and net profit increase of 23%. While life insurance OPAT is expected to grow 3%, new business value growth is projected to slow to flat in Q2. CMBI sets target prices at HKD86 for H-shares and RMB75 for A-shares based on SOTP valuation."
datetime: "2026-07-22T06:10:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293428183.md)
  - [en](https://longbridge.com/en/news/293428183.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293428183.md)
---

# CMBI Expects PING AN  2Q Operating Profit Growth Momentum to Continue, New Business Value Growth to Slow

CMBI issued a research report expecting PING AN (02318.HK) +0.050 (+0.089%) Short selling $219.95M; Ratio 33.419% 's group operating profit attributable to shareholders (OPAT) for 1H25 to grow 7.2% YoY, while 2Q operating profit is expected to rise 6.8% YoY, continuing the steady growth trend. Net profit for 1H25 is forecast to increase 23% YoY. By segment, operating profit of the life and health insurance business is expected to grow 3% YoY in 1H25, while new business contractual service margin (NB CSM) is projected to achieve mid-double-digit growth. The property and casualty insurance combined operating ratio (COR) is expected to be 95.1%, improving by 0.1 ppts YoY. New business value is expected to rise 12% YoY in 1H25 and remain flat YoY in 2Q.

CMBI maintained its positive view on the growth outlook for PING AN (02318.HK) +0.050 (+0.089%) Short selling $219.95M; Ratio 33.419% 's core earnings indicators and reiterated its "Buy" rating. Based on SOTP valuation, the H-share TP is HKD86, while the A-share TP for PING AN OF CHINA (601318.SH) +1.020 (+1.929%) is RMB75. (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-22 12:25.) (A Shares quote is delayed for at least 15 mins.)

### Related Stocks

- [PNGAY.US](https://longbridge.com/en/quote/PNGAY.US.md)
- [02318.HK](https://longbridge.com/en/quote/02318.HK.md)
- [601318.CN](https://longbridge.com/en/quote/601318.CN.md)
- [82318.HK](https://longbridge.com/en/quote/82318.HK.md)

## Related News & Research

- [Ping An Group Upgrades Longevity Management Service System, Unveils 11 Health Longevity Centers Nationwide](https://longbridge.com/en/news/294343576.md)
- [Ping An Unveils Innovative AI Solutions in Healthcare, Insurance and Payments at WAIC 2026](https://longbridge.com/en/news/293291995.md)
- [ADT Q2 revenue beats on higher security installations](https://longbridge.com/en/news/294353720.md)
- [Brookfield Infrastructure Q2 FY26 FFO per unit rises 10% to $0.89](https://longbridge.com/en/news/294350349.md)
- [Public Storage Q2 same-store revenue falls 0.6%; raises 2026 outlook](https://longbridge.com/en/news/294261773.md)