HSBC: Reiterates "Buy" rating for AIA Group (01299.HK) with a target price of HK$112.

According to the Zhidao Financial APP, JP Morgan released a research report stating that AIA Insurance (01299.HK) achieved a new business value of 1.757 billion US dollars in the first quarter of this year, representing a 17% year-on-year increase based on actual exchange rates, far exceeding the bank's forecast of 1.581 billion US dollars. Strong sales growth in Mainland China and Hong Kong has driven performance beyond expectations, while product profit margins have slightly shrunk. The bank believes that the market will be reassured by this data. The bank maintains its forecast of a 13% annual growth in new business value for AIA in 2026 fiscal year, expecting gradual recovery in the remaining year. It reiterates its "buy" rating with a target price of 112 Hong Kong dollars.