---
title: "CMB International lowered the target price for ZA ONLINE to 18 yuan and maintained a \"Buy\" rating"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/280400302.md"
description: "CMB International has lowered the target price for ZA ONLINE from HKD 23 to HKD 18, maintaining a \"Buy\" rating. The report pointed out that ZA ONLINE's net profit last year increased by 83% year-on-year to RMB 1.1 billion, but was below expectations, and the net profit in the second half of the year decreased by 21% year-on-year to RMB 434 million. The comprehensive cost ratio rose to 95.8%, mainly influenced by strong performance in the healthcare and automotive sectors. Looking ahead, the company's health and automotive businesses will continue to drive underwriting and sales growth"
datetime: "2026-03-25T02:19:09.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280400302.md)
  - [en](https://longbridge.com/en/news/280400302.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280400302.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/280400302.md) | [繁體中文](https://longbridge.com/zh-HK/news/280400302.md)


# CMB International lowered the target price for ZA ONLINE to 18 yuan and maintained a "Buy" rating

Zhao Yin International published a research report indicating that ZA ONLINE (06060.HK) saw its net profit increase by 83% year-on-year to RMB 1.1 billion last year, which was below expectations. The net profit for the second half of the year fell by 21% year-on-year to RMB 434 million. The comprehensive cost ratio (CoR) increased by 1.1 percentage points year-on-year to 95.8%, which was higher than expected, mainly due to strong performance in the healthcare and automotive sectors.

The bank stated that looking ahead to the fiscal year 2026, the company's health and automotive businesses will continue to be key drivers of underwriting (UW) and sales growth, as they have a large potential market. Additionally, ZA ONLINE has the potential to further expand its customer wallet share through artificial intelligence empowerment.

The bank lowered the target price for ZA ONLINE from HKD 23 to HKD 18, maintaining a "Buy" rating

### 相关股票

- [ZA ONLINE (06060.HK)](https://longbridge.com/zh-CN/quote/06060.HK.md)

## 相关资讯与研究

- [CMB International Securities Reaffirms Their Buy Rating on ZhongAn Online P & C Insurance Co., Ltd (1ZO)](https://longbridge.com/zh-CN/news/280424103.md)
- [ZhongAn Online P & C Insurance (SEHK:6060) Net Income Surge Tests Bearish Margin Narratives](https://longbridge.com/zh-CN/news/279961896.md)
- [Thank you, seniors. Healthcare spending is pumping up economic and job growth.](https://longbridge.com/zh-CN/news/281661389.md)
- [Breaking down the booming March jobs report](https://longbridge.com/zh-CN/news/281661049.md)
- [China Tianbao Narrows Annual Loss but Keeps Dividend on Hold](https://longbridge.com/zh-CN/news/281267546.md)