CLSA has maintained its "Outperform" rating on PING AN (02318) H-shares while increasing the target price from HK$71 to HK$74. For Ping An Insurance (Group) Company Of China, Ltd. (601318) A-shares, the target price was raised from 77 yuan to 78 yuan, with an "Outperform" rating retained. The report highlighted that PING AN's group operating profit for the first quarter grew 7.6% year-on-year, slightly surpassing market expectations. This outperformance was attributed to the group being less affected by capital market volatility compared to peers, along with resilient Contractual Service Margin (CSM). New business value and new business value margin were in line with expectations, while capital pressure also showed some easing.