MBPICCG@EC2611A

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

China PICC Sees 10% Net Profit Growth in 2025 to 6.25 Billion Yuan

PICC GROUP released FY2025 Q4 earnings on March 26 During-Market (BJT), actual revenue HKD 187.95 B, actual EPS HKD -0.0679

PICC GROUP released FY2025 Annual Earnings on March 26 During-Market (BJT), Forecast Revenue HKD 637 B, Forecast EPS HKD 1.2964

People's Insurance Group to Unveil 2025 Annual Results and Host Live Webcast

PICC GROUP to release FY2025 earnings on March 26 During-Market (BJT), forecast revenue HKD 652.02 B, EPS HKD 1.3239

Guangdong Financial Supervision Bureau Issues 89 Insurance Fines in 2025

People's Insurance Asset Successfully Issued Four Exchange ABS Products with a Cumulative Scale Exceeding 10 Billion Yuan

PICC Holds 2026 Annual Work Conference and Discloses 2025 Operating Data

Goldman Sachs Reports on PICC Group and China PICC Management Meetings

CPIC Appoints Chief Compliance Officer in Response to Regulatory Requirements

FINELAND LIVING

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HAO BAI INTL

TEAMWAY INTL GP

GEMILANG INTL

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01339

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

PICC GROUP

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

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By 2026, PICC Life will leverage new economic growth drivers, focusing on both asset and liability sides to systematically enhance its ability to prevent and mitigate interest margin loss risk, further reducing such risks

- As of the end of 2025, China People's Property Insurance's total assets reached 860.498 billion yuan, marking a 10.6% year-on-year increase.  
- The group reported a net profit of 40.377 billion yuan, up 25.5%, driven by strong revenue across various insurance sectors, with an emphasis on long-term, stable investments in 2026.  
- Additionally, the establishment of a health management subsidiary aims to enhance health insurance through managed care, meeting diverse client needs and reducing claims costs.

Wallstreetcn

PICC Group

PICC P&C

Asia's Largest Property and Casualty Insurer Holds Earnings Briefing: Discusses High-Dividend Investment Strategy and Addresses Interest Margin Loss Risk

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The annual report season for A-share insurance stocks has come to an end. The five major insurance companies actively increased equity investments in a low-interest-rate environment, achieving a total net profit attributable to shareholders of over 420 billion yuan in 2025, a year-on-year increase of more than 20%. Each insurance company has enhanced the scale and strategy of equity investments, emphasizing the allocation value of equity assets. Data shows that the stock investment scale of the five major insurance companies reached 2.5 trillion yuan, with the proportion of investment assets rising from 7.8% to 12.2%. The recovery of the capital market has brought substantial returns to the equity positions of insurance funds, enhancing performance elasticity

腾讯新闻 - 财经

China Life

CPIC

E Fund CSI 300 Financials (ex Banks) ETF

Ping An

CHINA LIFE

GF Fund CSI HK Connect Financials(ex Banks) Thematic ETF

PING AN

Insight into the annual reports of five major insurance companies: How to add value to equity investments

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CHINA RE announced its 2025 annual performance, with revenue of 124.928 billion RMB, an increase of 5.8% year-on-year. It recorded a net profit of 9.771 billion RMB, a decline of 7.4%, with earnings per share of 0.23 RMB. The final dividend is 0.0691 RMB

AASTOCKS

CHINA RE

"Performance" China Re's annual net profit is 9.771 billion RMB, down 7.4%, with a final dividend of 6.91 cents

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02097

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CSPC PHARMA(01093) rose 13.85%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 10.2%. GANFENGLITHIUM(01772) rose 9.26%, with a trading turnover 2.7 Billion HKD, and a year-to-date rose 43%. PICC GROUP(01339) fell 7.18%, with a trading turnover 746.4 Million HKD, and a year-to-date fell 19.6%. MIXUE GROUP(02097) fell 4.86%, with a trading turnover 354.1 Million HKD, and a year-to-date fell 30.2%.

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Top 5 HK Stock Gainers/Losers (>100B) (3.27)

PICC Group announced its 2025 annual performance, with total operating revenue of RMB 669.254 billion, an increase of 7.6% year-on-year. Net profit was RMB 46.207 billion, up 9.6% year-on-year; earnings per share were RMB 1.04, with a final dividend of RMB 0.145. Last year, insurance service revenue reached RMB 570.717 billion, a year-on-year growth of 6.1%; original insurance premium income was RMB 738.333 billion, a year-on-year increase of 6.5%. The group's investment asset scale exceeded RMB 1.9 trillion, growing 15.8% since the beginning of the year. Total assets were RMB 2,027.592 billion, net assets were RMB 420.466 billion, and the comprehensive solvency adequacy ratio was 249.9%

PICC Group's annual net profit increased by 9.6% year-on-year to RMB 46.21 billion, with a final dividend of RMB 0.145

The leadership transition at PICC Group and its core subsidiary PICC P&C has officially begun

- China People’s Insurance Company (CPIC) appointed Zhang Daoming as a member of the party committee and the new secretary of the party committee at CPIC Property and Casualty Insurance.  
- This transition occurs as Zhang, having extensive crisis management experience, takes over amidst frequent executive shifts in the past decade, positioning him as the youngest president among key subsidiaries.  
- CPIC will hold its annual performance conference on March 27, where Zhang is expected to outline the company’s development direction.

PICC P&C's New Leader Appointed: Zhang Daoming, born in the 70s, becomes Party Secretary

The "Opinions on Technology Insurance" focuses on "who to protect, what to protect, and how to protect," and emphasizes five aspects: 1. Focus on major national scientific and technological tasks, establish a national coordination and promotion mechanism for major technological breakthroughs in technology insurance, and strengthen insurance services for national strategic scientific and technological forces and key regions. 2. Focus on technology-based small and medium-sized enterprises, promote convenient technology insurance products, expand the coverage of technology insurance, and provide flexible insurance solutions for scenarios such as pay-after-use for technological achievements

Who does technology insurance protect, what does it cover, and how is it insured? Four departments jointly issued opinions

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In 2025, the net profit of non-listed life insurance companies surged to 66.6 billion yuan, but net assets shrank by nearly 10 billion yuan, indicating a structural divergence of "profit increase without capital increase." The median comprehensive investment return rate dropped from 8.39% to 2.73%. Several insurance companies, such as BOC Samsung Life and CEB Grand China Life, despite achieving record high net profits, saw a significant decline in net assets, reflecting the impact of new financial instrument standards and market conditions

- In 2025, non-listed life insurance companies reported a misleading profit surge, with total net profits soaring to 66.6 billion yuan, up 165% from 2024.  
- Despite this profit increase, the median comprehensive investment return plummeted to 2.73%, and industry net assets fell by nearly 10 billion yuan, indicating a structural divergence of "increased profits without increased assets."  
- The primary drivers of this phenomenon stem from market volatility and the shift to new accounting standards, which have led to extreme fluctuations in net profits compared to net assets.

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Profit to the left, net assets to the right: Analyzing the "surface" and "substance" of the performance of unlisted life insurance companies

MBPICCG@EC2611A(28432.HK)

MBPICCG@EC2611A Stock Performance Chart

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

Asia's Largest Property and Casualty Insurer Holds Earnings Briefing: Discusses High-Dividend Investment Strategy and Addresses Interest Margin Loss Risk

Insight into the annual reports of five major insurance companies: How to add value to equity investments

"Performance" China Re's annual net profit is 9.771 billion RMB, down 7.4%, with a final dividend of 6.91 cents

Top 5 HK Stock Gainers/Losers (>100B) (3.27)