CMB International released a research report stating that it has raised PING AN's (02318) earnings per share (EPS) forecasts for 2025–2027 by 9%, 4%, and 5% to RMB 8, RMB 8.3, and RMB 9.2, respectively. The target price was also lifted from HK$71 to HK$75, with a reiterated "Buy" rating. The upward revision reflects improved investment income, reduced drag from asset management operations, and stronger internal synergies.

PING AN reported a net profit of RMB 133 billion for the first three quarters, up 11.5% year-on-year (YoY), with Q3 growth surging 45.4%, exceeding the bank's estimate of RMB 129 billion. Excluding one-off non-operating factors, post-tax net profit growth was even more robust, rising 27% YoY for the first nine months and 82% in Q3.

New business value (NBV) grew 46.2% YoY to RMB 35.7 billion in the first three quarters, with Q3 NBV up 58.3%, driven by strong performance in agency and bancassurance channels.