<p>中国平安 (02318.HK) +2.600 (+4.330%) 空头头寸 $287.36M; 比率 17.291% 今天早盘开盘上涨 2%（29 日），早盘涨幅扩大至最高 62.85 港元。最新报 62.8 港元，上涨 4.58%，成交量为 1242.76 万股，涉及 773 百万港元。</p>
<p>中国平安报告 2026 年第一季度总收入为 2384.77 亿元人民币，同比下降 7.1%。营业利润同比增长 7.6%，达到 407.8 亿元人民币。净利润同比下降 7.4%，为 250.22 亿元人民币，基本每股收益为 1.43 元人民币。</p>
<p>美银证券在一份研究报告中表示，中国平安 2026 年第一季度净利润同比下降 7% 至 250 亿元人民币，略好于其预测的 10% 的下降。期间营业利润同比增长 8%，主要受到人寿保险和中国平安银行的积极贡献推动，而财产和意外保险业务则出现同比下降。尽管投资收入疲软对净利润造成压力，但中国平安的盈利能力仍然相对稳健，相比于在股权投资上更为激进的同行。该券商认为，尽管 2026 年第一季度市场疲软，中国平安整体业绩表现良好，预计将保持销售趋势，投资回报在 2026 年第二季度可能会改善。维持买入评级，目标价为 74 港元。</p>
<p>摩根士丹利指出，中国平安 2026 年第一季度的业绩在大多数关键指标上表现稳健。营业利润同比增长 7.6%，达到 408 亿元人民币，略高于其及市场预期的 4% 至 5%。管理层预计资产管理业务将在今年实现盈利，早于券商和市场之前预测的 2027 年时间表，表明该部门的拖累可能很快结束。该券商维持超配评级，并将该股票列为首选，目标价为 89 港元。</p>
<p>摩根大通表示，中国平安的 H 股今年迄今表现不佳，主要由于对其银行保险增长质量、增加的股权投资风险和中期股息前景的担忧。它认为 2026 年第一季度的业绩在很大程度上解决了这些担忧。在此期间，新业务价值增长 21%，达到 156 亿元人民币，产品利润率稳定在 23.5%，与 2025 年全年的 23.4% 水平相比。营业利润同比增长 7.6%，达到 408 亿元人民币。人寿保险和财产与意外保险业务的核心偿付能力比率分别为 131% 和 172%，远高于监管最低要求的 50%。这些数据大致符合或超过了摩根大通的预期。摩根大通指出，2026 年第一季度净利润同比下降 7.4%，为 250 亿元人民币，略低于其预测的 260 亿元人民币，但将其视为短期噪音而非风险。维持超配评级，目标价为 90 港元。（ad/da）（香港股票报价延迟至少 15 分钟。空头数据截至 2026 年 4 月 28 日 16:25。）</p>
<p>本文由 AI 自动翻译，中文版本应视为权威版本。AASTOCKS.com Limited 不保证其准确性或完整性，并对因使用此翻译而导致的任何损害或损失不承担任何责任。</p>

中国平安(ADR)

中国平安

<p>中国平安的股价在公布超出预期的 2026 年第一季度业绩后上涨了 4.6%。总收入同比下降 7.1%，达到 2384.77 亿元人民币，而营业利润同比增长 7.6%，达到 407.8 亿元人民币。净利润同比下降 7.4%，达到 250.22 亿元人民币，略好于预期。券商美银证券和摩根士丹利维持了积极评级，指出盈利的韧性和对投资回报改善的预期。摩根大通指出，关于银行保险增长的担忧已得到解决，维持了增持评级。中国平安的股票目前交易价格为 62.8 港元，成交额为 7.73 亿港元</p>

<p>PING AN (02318.HK) +2.600 (+4.330%)  Short selling $287.36M; Ratio 17.291%  opened 2% higher this morning (29th), with early-session gains expanding to a peak of HKD62.85. It was last at HKD62.8, up 4.58%, with turnover of 12.4276 million shares, involving HKD773 million.</p>
<div class="lb-trans"><p>中国平安 (02318.HK) +2.600 (+4.330%) 空头头寸 $287.36M; 比率 17.291% 今天早盘开盘上涨 2%（29 日），早盘涨幅扩大至最高 62.85 港元。最新报 62.8 港元，上涨 4.58%，成交量为 1242.76 万股，涉及 773 百万港元。</p>
</div><p>PING AN reported total revenue of RMB238.477 billion for 1Q26, down 7.1% YoY. Operating profit rose 7.6% YoY to RMB40.78 billion. Net profit fell 7.4% YoY to RMB25.022 billion, with basic EPS of RMB1.43.</p>
<div class="lb-trans"><p>中国平安报告 2026 年第一季度总收入为 2384.77 亿元人民币，同比下降 7.1%。营业利润同比增长 7.6%，达到 407.8 亿元人民币。净利润同比下降 7.4%，为 250.22 亿元人民币，基本每股收益为 1.43 元人民币。</p>
</div><p>BofAS said in a research report that PING ANs 1Q26 net profit declined 7% YoY to RMB25 billion, slightly better than its forecast of a 10% drop. Operating profit increased 8% YoY during the period, mainly driven by positive contributions from life insurance and Ping An Bank, while the property and casualty insurance business recorded a YoY decline. Although weaker investment income weighed on net profit, PING ANs earnings remained resilient compared with peers that are more aggressive in equity investments. The broker believes that despite a weak market in 1Q26, PING AN delivered solid overall results and is expected to maintain its sales trend, with investment returns likely to improve in 2Q26. It maintained a Buy rating with a TP of HKD74.</p>
<div class="lb-trans"><p>美银证券在一份研究报告中表示，中国平安 2026 年第一季度净利润同比下降 7% 至 250 亿元人民币，略好于其预测的 10% 的下降。期间营业利润同比增长 8%，主要受到人寿保险和中国平安银行的积极贡献推动，而财产和意外保险业务则出现同比下降。尽管投资收入疲软对净利润造成压力，但中国平安的盈利能力仍然相对稳健，相比于在股权投资上更为激进的同行。该券商认为，尽管 2026 年第一季度市场疲软，中国平安整体业绩表现良好，预计将保持销售趋势，投资回报在 2026 年第二季度可能会改善。维持买入评级，目标价为 74 港元。</p>
</div><p>M Stanley noted that PING ANs 1Q26 results were solid across most key metrics. Operating profit rose 7.6% YoY to RMB40.8 billion, slightly above its and the markets expectations by about 4% to 5%. Management expects the asset management business to turn profitable this year, earlier than the 2027 timeline previously projected by the broker and the market, indicating that the drag from this segment may soon end. The broker maintained an Overweight rating and named the stock as its top pick, with a TP of HKD89.</p>
<div class="lb-trans"><p>摩根士丹利指出，中国平安 2026 年第一季度的业绩在大多数关键指标上表现稳健。营业利润同比增长 7.6%，达到 408 亿元人民币，略高于其及市场预期的 4% 至 5%。管理层预计资产管理业务将在今年实现盈利，早于券商和市场之前预测的 2027 年时间表，表明该部门的拖累可能很快结束。该券商维持超配评级，并将该股票列为首选，目标价为 89 港元。</p>
</div><p>JPM said PING ANs H-shares have underperformed the market so far this year, mainly due to concerns over the quality of its bancassurance growth, increased equity investment exposure and interim dividend prospects. It believes the 1Q26 results largely addressed these concerns. During the period, new business value grew 21% to RMB15.6 billion, with product margins stable at 23.5%, compared with the full-year 2025 level of 23.4%. Operating profit increased 7.6% YoY to RMB40.8 billion. The core solvency ratios of the life and property and casualty insurance businesses were 131% and 172%, respectively, well above the regulatory minimum requirement of 50%. These figures broadly met or exceeded JPMs expectations. JPM noted that 1Q26 net profit fell 7.4% YoY to RMB25 billion, slightly below its forecast of RMB26 billion, but viewed this as short-term noise rather than a risk. It maintained an Overweight rating with a TP of HKD90. (ad/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-28 16:25.)</p>
<div class="lb-trans"><p>摩根大通表示，中国平安的 H 股今年迄今表现不佳，主要由于对其银行保险增长质量、增加的股权投资风险和中期股息前景的担忧。它认为 2026 年第一季度的业绩在很大程度上解决了这些担忧。在此期间，新业务价值增长 21%，达到 156 亿元人民币，产品利润率稳定在 23.5%，与 2025 年全年的 23.4% 水平相比。营业利润同比增长 7.6%，达到 408 亿元人民币。人寿保险和财产与意外保险业务的核心偿付能力比率分别为 131% 和 172%，远高于监管最低要求的 50%。这些数据大致符合或超过了摩根大通的预期。摩根大通指出，2026 年第一季度净利润同比下降 7.4%，为 250 亿元人民币，略低于其预测的 260 亿元人民币，但将其视为短期噪音而非风险。维持超配评级，目标价为 90 港元。（ad/da）（香港股票报价延迟至少 15 分钟。空头数据截至 2026 年 4 月 28 日 16:25。）</p>
</div><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p>
<div class="lb-trans"><p>本文由 AI 自动翻译，中文版本应视为权威版本。AASTOCKS.com Limited 不保证其准确性或完整性，并对因使用此翻译而导致的任何损害或损失不承担任何责任。</p>
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PING AN  Extends Early Gains to 4.6% as Brokers Say Results Beat Expectations

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摩根士丹利

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

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Bank of America Corp

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JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

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中国平安早期涨幅扩大至 4.6%，券商表示其业绩超出预期