UBS increases its target price for ZhongAn Online to HK $22.3 to reflect its long-term stablecoin/cryptocurrency opportunities
2025-08-22 11:19:16
UBS released a research report that ZhongAn Online's net profit after tax in the first half of the year increased by 11 times to 668 million yuan, reaching 68% of the market's annual profit test, and the comprehensive cost ratio improved by 2.3 percentage points to 95.6% compared with the same period last year, which may be better than market expectations. Banking business is out of loss, so the target price of ZhongAn Online is raised from HK $13.1 to HK $22.3 to reflect long-term stablecoin/cryptocurrency opportunities, favorable policies in the stock market, and rolling valuation.
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