AIA Group (01299) reported an after-tax operating profit of US$7.14 billion last year, representing an approximate 7% year-on-year increase. Net profit attributable to shareholders exceeded previous market expectations. While the company's 2025 performance may face volatility due to short-term factors such as significant US dollar depreciation, it continues to demonstrate strong growth resilience driven by expansion in new markets like mainland China and growth in new business segments. The firm forecasts the group's operating profit will rise to US$7.895 billion by 2026. The target price for AIA has been raised to HK$101, with a Buy rating maintained.

The institution highlighted AIA's solid customer base and robust operational capabilities, projecting premium revenue growth of 10%, 9%, and 7% year-on-year over the next three years. New business is expected to maintain steady growth, with new business value margins increasing by 10%, 8%, and 7% year-on-year, respectively. Profitability from investment operations is anticipated to remain stable at current levels. Management has announced the initiation of a new share repurchase program, which is expected to further enhance the company's investment appeal in the current market environment.