China's ZhongAn Online interim profit jumps
China's ZhongAn Online interim profit jumps
Overview
China online insurer's interim net profit surged 132% yr/yr to RMB1.55 bln
Insurance revenue rose 12.9% yr/yr; gross written premiums slipped 0.6%
Profit growth driven by investment income, underwriting gains, and tech segment turnaround
Outlook
Company did not provide specific financial outlook
Result Drivers
INSURANCE SEGMENT - Higher underwriting profit and increased investment income drove net profit growth in insurance segment
TECHNOLOGY SEGMENT - Technology segment turned losses into profits, benefiting from ongoing digital transformation in financial industry
BANKING SEGMENT - ZA Bank delivered strong revenue and profit growth, focusing on business quality and operating efficiency improvement
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Income Attributable |
| RMB 1.55 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy"
Wall Street's median 12-month price target for ZhongAn Online P & C Insurance Co., Ltd. is HK$18.30, about 67.6% above its August 25 closing price of HK$10.92
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago
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Aug 25 - UK's Chesnara interim operating capital generation jumps 79%
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on ZhongAn Online P & C Insurance
See all newsChina's ZhongAn Online interim profit jumps
Brief: ZhongAn Online P & C Insurance Posts Q1 Net Profit RMB171.4 Million
Brief: Zhongan Online P & C Insurance Says Gross Written Premiums For Jan To Dec RMB35,643 Mln
Brief: Zhongan Online P & C Insurance Says From January 1 To November 30 Gross Written Premiums Were RMB32,904 Million
Brief: Zhongan Online P & C Insurance To Elect Hai Yin As Chairman