US stocks plunged 159 points on Friday, mainly due to the sudden cancellation of visits to Montana and Nebraska farms by Chinese vice ministerial trade delegations, sparking market worries about trade talks in early October, both in China and the United States
It is indicated that whether the allergic reaction remains to be observed under the continuation of negotiations on the trade talks, but it is difficult to avoid the pressure on the market at the beginning of this week. Last Friday, foreign investment increased its shareholding in the A-share market, which had a positive impact on domestic insurance stocks. The market is expected to test 26,000 customs, and it can collect China Taiping (0966).
China Taiping’s main businesses are reinsurance, life insurance, property insurance, asset management, reinsurance brokerage and pension management. The Group announced earlier that the original insurance premium income of the affiliated Taiping Life Insurance for the first eight months of this year was RMB 104.29 billion (RMB, the same below), up 10.95% year-on-year. In addition, the original insurance premium income of Taiping P&C Insurance during the period was 17.491 billion yuan, and the original insurance premium income of Taiping Pension Insurance was 3.321 billion yuan.
The slowdown in recent months has been reflected
In the first half of the year, the above-mentioned original insurance premium income was RMB 106.71 billion, an increase of 10.6% year-on-year. Taiping Life Insurance recorded the original insurance premium income of 90.548 billion yuan, up 11.3% year-on-year; Taiping property insurance record was 13.66 billion yuan, up 9.5% year-on-year; Taiping pension insurance record was 2.704 billion yuan, down 4.9% year-on-year.
After the performance of the Group in the first half of the year, the growth of premium business in July and August slowed down, resulting in a significant adjustment in the share price, but remained double-digit in the first eight months, which is better than some of its peers. For the second half of the business performance, Dahe expects China Taiping’s new business value (VNB) to fall 2% year-on-year, while net profit will increase by 10-20% year-on-year. The increase in net profit was mainly due to the positive impact of the tax credit, offsetting the year-on-year decline in some investment performance.
The latest trend, China Taiping last week and Huawei joint innovation center was formally established, the two sides will focus on 5G, big data, artificial intelligence and other technological innovation cooperation, and jointly create a digital transformation benchmark for the insurance industry. According to the plan, China Taiping and Huawei jointly promote the digital transformation of the insurance industry.
Cooperation with Huawei for insurance innovation
The fund industry has given high marks to the insurance industry to increase financial technology to promote product innovation. China Taiping closed at 18.16 yuan (HK$, the same below) on Friday, down 2 cents, with a turnover of 126 million yuan. The current price-to-earnings ratio (PE) is 9.85 times, forecasting 6.96 times. In the past month, it has rebounded from 19.52 yuan to 17.20 yuan, but it has not recovered 10 days and 18.69 yuan, 20 antennas and 18.35 yuan. If the Sino-US trade talks are still volatile, it should continue to rebound. Therefore, investors may wish to fall back. In the middle segment collection, it looked at 19.50 yuan and fell below the 17.20 yuan stop loss.