Lyon: Ping An Insurance (02318) posted a 10% increase in net operating profit last year, exceeding expectations. The dividend payout is in line with expectations and the rating is "outperforming the market."

Lyon released a research report stating that Ping An Insurance (02318) had a stable growth in after-tax operating profit (OPAT) of 10% last year, beating expectations. The dividend per share increased by 6% year-on-year, and the new business value grew by 29%, in line with expectations. The bank slightly raised its forecast for Ping An Insurance and maintained an H-share target price of HK$71, with a rating of "outperform".