PING AN (02318) reported better-than-expected Q3 results, surpassing both Goldman Sachs' and market expectations, driven by strong equity investment returns and robust new policy sales momentum. The bank anticipates a positive market reaction to the earnings performance.

Following the inclusion of Q3 2025 results and updated investment market conditions, Goldman Sachs raised its net profit forecast for PING AN by 3–19% for fiscal years 2025–2027. Additionally, the bank increased its first-year premium forecast by 5–8% and lifted its new business value projection by 5–9% for the same period.

The target price was revised upward from HK$63 to HK$64, with a maintained "Buy" rating.