中国财险1Q25 CoR outperformed

招银国际
15 Apr

**核心观点:PICC P&C1Q25业绩超预期,维持买入评级**报告指出,PICC P&C在2025年第一季度(1Q25)的盈利表现强劲,预计净利润同比增长80%-100%,达到人民币106亿至117亿元。这一增长主要得益于综合成本率(CoR)的显著改善和投资收益的优化。分析师认为,公司在非车险业务上的结构调整以及资产配置策略的改进是推动业绩提升的关键因素。基于此,目标价维持在15.8港元,对应...

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