JPMorgan: Guotai Haitong (02611.HK) supported by New China Life Insurance (01336.HK) stake increase, but doubts remain over Q3 results.

Zhitong Finance APP has learned that JPMorgan issued a research report stating that Guotai Haitong (02611.HK) has recently outperformed its peers, with the increase in its stake by New China Life Insurance (01336) likely being an important driving factor; however, the bank takes a cautious stance on Guotai Haitong's upcoming 2026 third-quarter results, as the company's equity investment exposure is relatively high, and its investment income may be more affected by the recent market weakness than that of its peers. The bank maintains an "Overweight" rating on Guotai Haitong's H-shares and a target price of HK$18.