<p>中國平安 (02318.HK) +2.600 (+4.330%) 空頭頭寸 $287.36M; 比率 17.291% 今天早盤開盤上漲 2%（29 日），早盤漲幅擴大至最高 62.85 港元。最新報 62.8 港元，上漲 4.58%，成交量為 1242.76 萬股，涉及 773 百萬港元。</p>
<p>中國平安報告 2026 年第一季度總收入為 2384.77 億元人民幣，同比下降 7.1%。營業利潤同比增長 7.6%，達到 407.8 億元人民幣。淨利潤同比下降 7.4%，為 250.22 億元人民幣，基本每股收益為 1.43 元人民幣。</p>
<p>美銀證券在一份研究報告中表示，中國平安 2026 年第一季度淨利潤同比下降 7% 至 250 億元人民幣，略好於其預測的 10% 的下降。期間營業利潤同比增長 8%，主要受到人壽保險和中國平安銀行的積極貢獻推動，而財產和意外保險業務則出現同比下降。儘管投資收入疲軟對淨利潤造成壓力，但中國平安的盈利能力仍然相對穩健，相比於在股權投資上更為激進的同行。該券商認為，儘管 2026 年第一季度市場疲軟，中國平安整體業績表現良好，預計將保持銷售趨勢，投資回報在 2026 年第二季度可能會改善。維持買入評級，目標價為 74 港元。</p>
<p>摩根士丹利指出，中國平安 2026 年第一季度的業績在大多數關鍵指標上表現穩健。營業利潤同比增長 7.6%，達到 408 億元人民幣，略高於其及市場預期的 4% 至 5%。管理層預計資產管理業務將在今年實現盈利，早於券商和市場之前預測的 2027 年時間表，表明該部門的拖累可能很快結束。該券商維持超配評級，並將該股票列為首選，目標價為 89 港元。</p>
<p>摩根大通表示，中國平安的 H 股今年迄今表現不佳，主要由於對其銀行保險增長質量、增加的股權投資風險和中期股息前景的擔憂。它認為 2026 年第一季度的業績在很大程度上解決了這些擔憂。在此期間，新業務價值增長 21%，達到 156 億元人民幣，產品利潤率穩定在 23.5%，與 2025 年全年的 23.4% 水平相比。營業利潤同比增長 7.6%，達到 408 億元人民幣。人壽保險和財產與意外保險業務的核心償付能力比率分別為 131% 和 172%，遠高於監管最低要求的 50%。這些數據大致符合或超過了摩根大通的預期。摩根大通指出，2026 年第一季度淨利潤同比下降 7.4%，為 250 億元人民幣，略低於其預測的 260 億元人民幣，但將其視為短期噪音而非風險。維持超配評級，目標價為 90 港元。（ad/da）（香港股票報價延遲至少 15 分鐘。空頭數據截至 2026 年 4 月 28 日 16:25。）</p>
<p>本文由 AI 自動翻譯，中文版本應視為權威版本。AASTOCKS.com Limited 不保證其準確性或完整性，並對因使用此翻譯而導致的任何損害或損失不承擔任何責任。</p>

中國平安(ADR)

中國平安

<p>中國平安的股價在公佈超出預期的 2026 年第一季度業績後上漲了 4.6%。總收入同比下降 7.1%，達到 2384.77 億元人民幣，而營業利潤同比增長 7.6%，達到 407.8 億元人民幣。淨利潤同比下降 7.4%，達到 250.22 億元人民幣，略好於預期。券商美銀證券和摩根士丹利維持了積極評級，指出盈利的韌性和對投資回報改善的預期。摩根大通指出，關於銀行保險增長的擔憂已得到解決，維持了增持評級。中國平安的股票目前交易價格為 62.8 港元，成交額為 7.73 億港元</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>中國平安 (02318.HK) +2.600 (+4.330%) 空頭頭寸 $287.36M; 比率 17.291% 今天早盤開盤上漲 2%（29 日），早盤漲幅擴大至最高 62.85 港元。最新報 62.8 港元，上漲 4.58%，成交量為 1242.76 萬股，涉及 773 百萬港元。</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>中國平安報告 2026 年第一季度總收入為 2384.77 億元人民幣，同比下降 7.1%。營業利潤同比增長 7.6%，達到 407.8 億元人民幣。淨利潤同比下降 7.4%，為 250.22 億元人民幣，基本每股收益為 1.43 元人民幣。</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>美銀證券在一份研究報告中表示，中國平安 2026 年第一季度淨利潤同比下降 7% 至 250 億元人民幣，略好於其預測的 10% 的下降。期間營業利潤同比增長 8%，主要受到人壽保險和中國平安銀行的積極貢獻推動，而財產和意外保險業務則出現同比下降。儘管投資收入疲軟對淨利潤造成壓力，但中國平安的盈利能力仍然相對穩健，相比於在股權投資上更為激進的同行。該券商認為，儘管 2026 年第一季度市場疲軟，中國平安整體業績表現良好，預計將保持銷售趨勢，投資回報在 2026 年第二季度可能會改善。維持買入評級，目標價為 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，中國平安 2026 年第一季度的業績在大多數關鍵指標上表現穩健。營業利潤同比增長 7.6%，達到 408 億元人民幣，略高於其及市場預期的 4% 至 5%。管理層預計資產管理業務將在今年實現盈利，早於券商和市場之前預測的 2027 年時間表，表明該部門的拖累可能很快結束。該券商維持超配評級，並將該股票列為首選，目標價為 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，中國平安的 H 股今年迄今表現不佳，主要由於對其銀行保險增長質量、增加的股權投資風險和中期股息前景的擔憂。它認為 2026 年第一季度的業績在很大程度上解決了這些擔憂。在此期間，新業務價值增長 21%，達到 156 億元人民幣，產品利潤率穩定在 23.5%，與 2025 年全年的 23.4% 水平相比。營業利潤同比增長 7.6%，達到 408 億元人民幣。人壽保險和財產與意外保險業務的核心償付能力比率分別為 131% 和 172%，遠高於監管最低要求的 50%。這些數據大致符合或超過了摩根大通的預期。摩根大通指出，2026 年第一季度淨利潤同比下降 7.4%，為 250 億元人民幣，略低於其預測的 260 億元人民幣，但將其視為短期噪音而非風險。維持超配評級，目標價為 90 港元。（ad/da）（香港股票報價延遲至少 15 分鐘。空頭數據截至 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 自動翻譯，中文版本應視為權威版本。AASTOCKS.com Limited 不保證其準確性或完整性，並對因使用此翻譯而導致的任何損害或損失不承擔任何責任。</p>
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PING AN  Extends Early Gains to 4.6% as Brokers Say Results Beat Expectations

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

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中國平安早期漲幅擴大至 4.6%，券商表示其業績超出預期