招商证券(香港)：中国太保（02601）港股公司研究报告-Pursuinghigh-qualitydevelopment

中国太保(02601) Quality-orientedimprovementmightcontinuein2023E Valuationundemanding RaiseTPtoHKD27.0andmaintainBUY Quality-orientedimprovementmightcontinuein2023E NBVgrowthacrossthelifesectorwereundertremendouspressurein2022,partlyduetoagentforcecontractionandNBVmargindecline.However,theCompany’sNBVgrowthturnedpositiveforthethirdquarterof2022andachievedenhancedsalesforcesqualityin1H22.Inmoredetails,themonthlyaverageFYPpercoreagentreachedRMB32,331,upby23.5%yoy,monthlyaverageFYCpercoreagentupby10.8%y