CMBI maintained a Buy rating for PING AN due to its strong 1Q26 operating profit, which exceeded expectations, driven by growth in the life and health insurance segment, improved earnings at Ping An Bank, and better performance in asset management. Despite a decline in net profit attributable to shareholders due to market volatility, the overall results were solid, leading CMBI to set a target price of HKD86 for H shares and RMB75 for A shares.
