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PICC Property & Casualty Co
(2328)
PICC Property & Casualty Co (2328) vs. iShares MSCI Hong Kong ETF (EWH)
PICC Property & Casualty Co Business Overview & Revenue Model
PICC Property & Casualty Co Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 531.40B | 481.44B | 440.22B | 408.20B | 417.89B | 411.07B |
| Gross Profit | 531.40B | 481.44B | 537.38B | 500.22B | 417.89B | 411.07B |
| EBITDA | -441.84B | 43.01B | 32.94B | 38.74B | 30.91B | 28.58B |
| Net Income | 38.14B | 32.17B | 24.59B | 29.16B | 22.36B | 20.87B |
Balance Sheet | ||||||
| Total Assets | 804.61B | 778.24B | 703.62B | 670.35B | 682.62B | 646.80B |
| Cash, Cash Equivalents and Short-Term Investments | 280.31B | 8.56B | 192.42B | 10.85B | 13.31B | 14.17B |
| Total Debt | 13.38B | 21.73B | 9.68B | 10.06B | 9.84B | 24.96B |
| Total Liabilities | 523.54B | 517.62B | 469.32B | 453.09B | 476.97B | 456.77B |
| Stockholders Equity | 278.32B | 257.92B | 231.42B | 218.71B | 202.89B | 187.51B |
Cash Flow | ||||||
| Free Cash Flow | 39.05B | 33.28B | 17.81B | 37.15B | 13.92B | 3.03B |
| Operating Cash Flow | 42.11B | 36.46B | 20.54B | 42.71B | 16.34B | 12.81B |
| Investing Cash Flow | -22.70B | -27.55B | -11.13B | -32.19B | -8.16B | -29.39B |
| Financing Cash Flow | -23.97B | -6.05B | -14.22B | -7.00B | -16.84B | 10.41B |
PICC Property & Casualty Co Technical Analysis
PICC Property & Casualty Co Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | HK$258.54B | 5.98 | 34.37% | 5.24% | 49.90% | 203.77% | |
79 Outperform | HK$449.25B | 6.44 | 18.41% | 3.28% | 15.08% | 23.13% | |
78 Outperform | HK$436.90B | 6.17 | 17.99% | 3.05% | 9.40% | 79.93% | |
76 Outperform | HK$363.22B | 8.84 | 14.60% | 3.77% | 6.42% | 66.35% | |
71 Outperform | HK$74.90B | 9.16 | 10.74% | 1.81% | 23.64% | 36.32% | |
71 Outperform | HK$71.79B | 6.01 | 11.12% | 3.22% | 2.54% | 17.80% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
PICC Property & Casualty Co Corporate Events
PICC Property & Casualty has received approval from China’s National Financial Regulatory Administration confirming the qualification of Ms. Li Ling as a director of the company. Following this regulatory approval, her term as employee director and member of the board’s Audit Committee commenced on 4 January 2026, solidifying the board structure and signalling strengthened corporate governance oversight for stakeholders.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Company Limited has announced the composition of its sixth session board of directors, naming Ms. Ding Xiangqun, a non-executive director, as chairperson and confirming a slate of executive, non-executive, employee, and independent directors. The board has also formally established five specialized committees—Strategic Planning/Sustainable Development, Audit, Nomination/Remuneration and Review, Risk Management and Consumers’ Rights and Interests Protection (also covering asset-liability management and investment decisions), and Related Party Transaction Control—clarifying membership and leadership roles, a move that underscores the company’s emphasis on strengthened governance, risk oversight, and regulatory compliance for the benefit of shareholders and policyholders.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co has signed a 2026–2028 Technology Service Agreement with related party PICC Technology, under which PICC Technology will provide a wide range of IT project services including system development, infrastructure construction and operation, maintenance management, cybersecurity, disaster recovery, data resource management and intelligent technology research and application. The deal is classified as a continuing connected transaction under Hong Kong Listing Rules, triggering reporting, annual review and announcement obligations but exempt from independent shareholders’ approval, and sets annual fee caps of RMB 562.71 million for 2026, RMB 513.41 million for 2027 and RMB 514.90 million for 2028, signalling continued heavy investment in technology to underpin PICC P&C’s operations and digital capabilities while maintaining regulatory compliance on related-party dealings.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co has signed a one-year reinsurance framework agreement with connected party PICC HK, effective from 1 January to 31 December 2026, to formalise and deepen their existing business cooperation in both inward and outward reinsurance across all lines of property and casualty risks. Under the framework, the two parties will mutually cede and assume premiums on treaty and facultative business using standard contracts, with cession and assuming ratios generally ranging from 0.1% up to 80–100% and commission rates capped at 45% for ceded and 40% for assumed business, all determined through arm’s-length, market-based negotiations and subject to regulatory limits and internal controls. As the deal constitutes a continuing connected transaction under Hong Kong Listing Rules, it is subject to reporting, annual review and announcement requirements but is exempt from independent shareholders’ approval, and the company has highlighted internal monitoring and early-warning mechanisms designed to ensure transaction terms remain no less favourable than those offered by independent third parties and that annual caps are not breached.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co has signed a one-year reinsurance framework agreement with connected party PICC Reinsurance, effective from 1 January to 31 December 2026, to formalise and continue their existing business cooperation in treaty and facultative reinsurance across all lines of property and casualty risks. Under the framework, both parties will mutually cede premiums to each other in return for commissions, with cession ratios ranging from 0.1% to 80% and commission rates capped at 45%, all determined via actuarial models and arm’s-length market-based negotiations and benchmarked against terms offered by at least three independent third parties. The company notes that the outward reinsurance transactions trigger reporting, annual review and announcement obligations as continuing connected transactions under Hong Kong Listing Rules but are exempt from independent shareholders’ approval, while inward transactions are fully exempt given their small size. PICC P&C emphasizes internal control and compliance measures, including detailed related-party transaction policies, early-warning mechanisms on annual caps, annual internal audits, and oversight by independent directors and external auditors, with transaction terms disclosed through its reinsurance trading platform, underscoring efforts to balance group synergies with regulatory and minority shareholder protections.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co. has signed a new 95518 Customer Service Business Entrusted Operation Service Agreement with its connected subsidiary PICC Technology, extending the outsourcing of nationwide hotline and regional customer service centre operations for the 2026 calendar year. Under the deal, PICC Technology will continue to manage the 95518 platform, including intelligent service tool development, disaster emergency response capacity, claims reporting risk management and multi-channel customer contact services, for an estimated service fee cap of RMB 776.9 million, determined on a cost-plus basis and payable quarterly. The transaction, which remains below the threshold requiring independent shareholder approval under Hong Kong listing rules, formalises a growing service relationship—historical fees reached RMB 313.5 million by November 2025—and underscores the insurer’s strategy of centralising and digitising customer-service operations through a related technology arm while committing to market-based, fair pricing for the benefit of shareholders.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty has signed a 2026 Customer Services Cooperation Framework Agreement with connected party Aibao Technology, under which Aibao and its subsidiaries will provide value-added services for motor vehicle insurance customers, online activity-related services and online advertising services from 1 January to 31 December 2026, with PICC paying service fees based on fair-market tender processes. The deal, capped at RMB 370 million for 2026, is classified as a continuing connected transaction under Hong Kong listing rules, triggering reporting, annual review and announcement requirements but exempt from independent shareholder approval, and is intended to support PICC’s customer engagement and marketing capabilities while maintaining pricing discipline and competitive procurement.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Company Limited announced that Ms. Li Ling, previously elected as the company’s employee director subject to approval by the National Financial Regulatory Administration (NFRA), has been elected as a member of the Board’s Audit Committee, with her Audit Committee term aligned to the duration of the sixth Board session. Her qualification as a director remains contingent on NFRA approval, indicating that while the company is moving ahead with strengthening its audit and oversight functions, her full assumption of board responsibilities still depends on regulatory clearance.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co has announced the members of its sixth session board of directors, including the appointment of Ms. Ding Xiangqun as the Chairperson. The company has also formed five committees under the board, each with designated members, to enhance strategic planning, audit, nomination, risk management, and related party transaction control, indicating a structured approach to governance and oversight.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co has appointed Mr. Zhang Daoming as the temporary responsible officer following the resignation of the company’s president. Mr. Zhang, with 27 years of experience in the insurance industry, will oversee the company’s operations, ensuring continuity and stability during this transitional period.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co announced the resignation of Yu Ze from multiple key positions including executive director and Vice Chairperson of the Board, effective December 9, 2025. The company confirmed that Yu Ze’s departure will not affect its normal operations or the functioning of the Board, indicating stability in its management and operational continuity.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co has outlined new terms of reference for its Audit Committee to enhance the board’s working mechanism and ensure compliance with financial reporting and internal control procedures. The committee will focus on reviewing internal audit systems, making recommendations to the board, and managing audit operations, which is expected to improve corporate governance and risk management.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co has announced the establishment of a Nomination, Remuneration, and Review Committee under its Board of Directors. This committee is tasked with recommending candidates for directors, formulating remuneration plans, and supervising their implementation, thereby enhancing the board’s operational procedures and ensuring a diverse and skilled board composition.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co. has announced the establishment of a Nomination, Remuneration, and Review Committee under its Board of Directors. This committee is tasked with recommending director candidates, formulating remuneration plans, and evaluating standards for senior management, which is expected to enhance the company’s governance and operational procedures.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co announced that its executive director, Vice Chairperson, and President, Yu Ze, is under disciplinary review and investigation by the Central Commission for Discipline and State Supervisory Committee for suspected serious breaches of discipline and law. Despite this, the company assures that its operations and board functions continue to proceed normally, indicating stability in its governance and operational activities.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co observed unusual price and trading volume movements of its H shares on December 1, 2025, and is currently verifying market speculations about a senior management member. The company is not aware of any reasons for these movements or any information that requires disclosure to prevent a false market in its shares, advising shareholders and potential investors to exercise caution.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co announced that amendments to its Articles of Association have been approved and are now effective, leading to the dissolution of its Supervisory Committee. The company expressed gratitude to the outgoing supervisors and confirmed no disagreements or issues related to their retirement, indicating a smooth transition in its governance structure.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$19.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Company Limited, in collaboration with its controlling shareholder, hosted the 2025 Investor Day on November 7, 2025, under the theme ‘Practice and Outlook for the High-Quality Development of Non-Auto Insurance.’ This event underscores the company’s strategic focus on expanding its non-auto insurance segment, potentially strengthening its market position and offering new opportunities for stakeholders.
The most recent analyst rating on (HK:2328) stock is a Buy with a HK$23.60 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co. announced an interim dividend of RMB 0.24 per share for the six months ending June 30, 2025, with payment in Hong Kong dollars at an exchange rate of RMB 1 to HKD 1.096032. This update reflects changes in the default currency and exchange rate, impacting shareholders’ returns and tax obligations, especially for those involved in cross-border investments through China-Hong Kong Stock Connect.
The most recent analyst rating on (HK:2328) stock is a Buy with a HK$21.50 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co., Ltd. announced the approval of all resolutions at their Extraordinary General Meeting (EGM), including the distribution of interim dividends. The interim dividends, set at RMB0.24 per share, will be paid on December 12, 2025, to shareholders registered by November 11, 2025. This decision reflects the company’s commitment to shareholder returns and may impact its financial positioning and investor relations positively.
The most recent analyst rating on (HK:2328) stock is a Buy with a HK$21.50 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co announced its unaudited financial results for the first nine months of 2025, reporting an insurance revenue of RMB 385,921 million, a 5.9% increase year-on-year, and a net profit of RMB 40,268 million, marking a 50.5% rise. The company has made strides in high-quality development by optimizing its operational management, enhancing risk prevention, and advancing digital transformation, which has resulted in a significant increase in underwriting profit and investment income, reflecting positively on its market positioning and stakeholder interests.
The most recent analyst rating on (HK:2328) stock is a Buy with a HK$21.50 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co. Ltd. has announced a board meeting scheduled for October 30, 2025, to review and approve the unaudited third-quarter results for the period ending September 30, 2025. This meeting is crucial for stakeholders as it will provide insights into the company’s financial performance and strategic direction for the remainder of the fiscal year.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$18.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.
PICC Property & Casualty Co., Ltd. announced an estimated net profit increase of 40% to 60% for the first three quarters of 2025 compared to the same period in 2024. This significant growth is attributed to China’s stable economic momentum, the company’s strategic focus on modernization, and optimization of its investment portfolio, which benefited from the capital market upturn, resulting in increased underwriting profit and total investment income.
The most recent analyst rating on (HK:2328) stock is a Hold with a HK$18.00 price target. To see the full list of analyst forecasts on PICC Property & Casualty Co stock, see the HK:2328 Stock Forecast page.