PICC P&C (02328) saw its share price jump more than 5% in early trading on Thursday, reflecting strong investor confidence following the release of its interim results. As of the time of writing, the stock was trading up 4.51% at HK$16.70, with trading turnover reaching HK$176 million.

The company's mid-year report revealed robust growth across key metrics. In the first half of the year, PICC P&C achieved original insurance premium income of RMB 327.529 billion, marking a 1.3% year-on-year increase. Insurance service revenue climbed 2.2% to RMB 254.617 billion, while underwriting profit surged 18.1% to RMB 15.376 billion. Net profit attributable to shareholders rose an impressive 32.0% to RMB 32.284 billion.

According to a research report from Zhongtai Securities, PICC P&C's core financial indicators have reached a half-year record high since the implementation of the new accounting standards. The brokerage projects the company's net profit attributable to shareholders will reach RMB 41.660 billion, RMB 44.204 billion, and RMB 46.691 billion in 2026, 2027, and 2028 respectively, representing year-on-year growth rates of 3.2%, 6.1%, and 5.6%.

The securities firm noted that PICC P&C possesses both characteristics of high dividend yields and an upward trajectory in business prosperity, suggesting that its valuation multiples have room for further expansion. Zhongtai Securities maintains a "Buy" rating on the stock, citing the company's strong fundamentals and promising outlook.