CMB International released a research report stating that PING AN (02318) achieved a 3.7% year-on-year increase in group after-tax operating profit to RMB 77.7 billion in the first half of the year, equivalent to a 4.9% year-on-year growth in the second quarter, which met expectations. New business value surged 39.8% year-on-year to RMB 22.3 billion, significantly exceeding expectations. The firm indicated that it has raised the target price from HK$65.1 to HK$71 while maintaining its "Buy" rating.
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