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ZhongAn Online P & C Insurance Co., Ltd (HK:6060)
:6060

ZhongAn Online P & C Insurance Co., Ltd (6060) AI Stock Analysis

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HK:6060

ZhongAn Online P & C Insurance Co., Ltd

(6060)

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Neutral 58 (OpenAI - 5.2)
Rating:58Neutral
Price Target:
HK$18.00
▲(5.26% Upside)
ZhongAn Online P & C Insurance Co., Ltd's stock score is primarily influenced by its solid financial performance, despite concerns over rising debt and cash flow fluctuations. The technical analysis indicates bearish momentum, which negatively impacts the score. Valuation is moderate, with a reasonable P/E ratio but no dividend yield. The lack of earnings call and corporate events data limits further insights.
Positive Factors
Technology-driven, digital-first model
A digital-first model with advanced analytics underpins scalable customer acquisition and automated underwriting. Over months this reduces distribution costs, improves loss selection, and enables faster product iteration versus legacy incumbents, supporting durable margin and growth potential.
Embedded distribution and partnerships
Strategic partnerships and embedded insurance channels create durable, low-cost distribution and recurring premium streams. These integrations lower customer acquisition costs, increase cross-sell opportunities, and provide stickier volumes that support steady premium growth over multiple quarters.
Improving profitability and margins
A notable margin improvement in 2024 indicates better underwriting discipline and operating leverage. If sustained, higher margins enhance free cash generation and capital available for growth or reserves, strengthening competitive position and resilience over a 2–6 month horizon and beyond.
Negative Factors
Rising leverage on the balance sheet
Increasing debt raises financial leverage and interest obligations, reducing flexibility to absorb underwriting losses or invest in technology. For an insurer, higher leverage can constrain regulatory capital buffers and limit strategic options during adverse market cycles over the medium term.
Recent revenue contraction
Negative revenue growth reflects pressure on premium volumes or product demand and undermines scale benefits. Continued top-line declines can erode unit economics, limit margin recovery, and impair reinvestment capacity, making sustained profitable expansion harder over the coming quarters.
Severe EPS decline and earnings volatility
A nearly 69% EPS drop signals material earnings volatility or one-off impacts that weaken earnings quality. Persistent volatility complicates capital planning and investor confidence, and may reflect underwriting, claims, or investment risks that could persist and hinder strategic execution.

ZhongAn Online P & C Insurance Co., Ltd (6060) vs. iShares MSCI Hong Kong ETF (EWH)

ZhongAn Online P & C Insurance Co., Ltd Business Overview & Revenue Model

Company DescriptionZhongAn Online P & C Insurance Co., Ltd., an Internet-based Insurtech company, provides internet insurance and insurance information technology services in the People's Republic of China. The company operates through Insurance, Technology, Banking, and Others segments. It offers property and casualty insurance products, including accident, bond, health, liability, credit, cargo, household property, motor, and other insurance, as well as shipping return insurance. The company also provides technology development and consulting, asset management, IT consulting, medical examination, Internet hospital, biotechnology, pharmacy, technology training, Fintech, digital asset, medical, life insurance, online banking, and insurance broking services. ZhongAn Online P & C Insurance Co., Ltd. was incorporated in 2013 and is headquartered in Shanghai, China.
How the Company Makes MoneyZhongAn generates revenue primarily through the sale of insurance premiums across its various product lines. The company operates a direct-to-consumer model, utilizing its digital platform to reach a broad audience, thus reducing distribution costs compared to traditional insurance models. Key revenue streams include individual policy sales, group insurance contracts, and partnerships with e-commerce platforms and financial institutions that integrate ZhongAn's insurance products into their services. Additionally, the company earns investment income from the premiums it collects, which are invested in various financial instruments. Significant partnerships with major technology firms and online marketplaces enhance its distribution capabilities and customer reach, contributing to its overall earnings.

ZhongAn Online P & C Insurance Co., Ltd Financial Statement Overview

Summary
ZhongAn Online P & C Insurance Co., Ltd exhibits strong growth in revenue and profitability, with improving margins and positive cash flow trends. However, increasing debt levels and occasional fluctuations in operational efficiency and cash flow are areas of concern.
Income Statement
75
Positive
ZhongAn Online P & C Insurance Co., Ltd has shown consistent revenue growth with a notable increase from 2023 to 2024. The net profit margin improved significantly in 2024, indicating enhanced profitability. However, the company experienced fluctuations in EBIT and EBITDA margins over the years, with some negative figures in earlier periods. Overall, the income statement reflects a positive trend in revenue and profitability, but with some instability in operational efficiency.
Balance Sheet
70
Positive
The company maintains a stable debt-to-equity ratio and a strong equity position relative to its assets. However, the debt levels have been increasing, which could pose a risk if not managed carefully. The return on equity has shown improvement in recent years, indicating effective use of shareholder funds. The balance sheet demonstrates financial stability, but the increasing debt requires monitoring.
Cash Flow
65
Positive
Cash flow analysis reveals a positive trend in operating cash flow and free cash flow growth over the years. However, there was a decrease in free cash flow from 2023 to 2024. The company has managed to maintain a good operating cash flow to net income ratio, indicating efficient cash management. While there is a positive trajectory, occasional fluctuations in cash flow need attention.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue33.59B33.73B29.23B22.64B21.94B18.37B
Gross Profit33.59B33.73B29.23B22.64B21.94B18.37B
EBITDA0.001.63B4.83B0.001.40B0.00
Net Income1.22B603.46M4.08B-1.11B757.10M553.79M
Balance Sheet
Total Assets43.45B45.28B42.86B54.56B51.77B45.67B
Cash, Cash Equivalents and Short-Term Investments10.89B1.47B1.58B15.39B26.28B27.47B
Total Debt2.77B7.12B7.19B7.18B6.65B6.79B
Total Liabilities21.89B24.36B22.79B37.53B32.64B28.28B
Stockholders Equity21.56B20.93B20.07B15.21B16.75B15.71B
Cash Flow
Free Cash Flow1.55B1.08B1.92B-1.11B-863.71M4.61B
Operating Cash Flow2.20B1.98B2.21B-701.91M-602.95M4.86B
Investing Cash Flow-528.68M-556.30M-5.33B158.04M-5.94B-6.27B
Financing Cash Flow-1.87B-1.09B1.14B236.03M2.19B7.11B

ZhongAn Online P & C Insurance Co., Ltd Technical Analysis

Technical Analysis Sentiment
Positive
Last Price17.10
Price Trends
50DMA
16.00
Positive
100DMA
16.89
Positive
200DMA
16.53
Positive
Market Momentum
MACD
0.47
Negative
RSI
57.04
Neutral
STOCH
63.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6060, the sentiment is Positive. The current price of 17.1 is above the 20-day moving average (MA) of 16.60, above the 50-day MA of 16.00, and above the 200-day MA of 16.53, indicating a bullish trend. The MACD of 0.47 indicates Negative momentum. The RSI at 57.04 is Neutral, neither overbought nor oversold. The STOCH value of 63.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:6060.

ZhongAn Online P & C Insurance Co., Ltd Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
$428.39B6.0917.99%3.05%9.40%79.93%
76
Outperform
HK$359.00B8.7314.60%3.77%6.42%66.35%
71
Outperform
HK$71.37B5.9711.12%3.22%2.54%17.80%
68
Neutral
$18.00B11.429.92%3.81%9.73%1.22%
58
Neutral
HK$28.81B18.766.00%-2.69%-68.97%
57
Neutral
HK$58.83B15.274.95%1.18%365.12%170.00%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
HK:6060
ZhongAn Online P & C Insurance Co., Ltd
16.74
5.26
45.82%
HK:1339
People's Insurance Co (Group) of China
6.65
3.00
82.39%
HK:2328
PICC Property & Casualty Co
16.02
4.41
38.00%
HK:1508
China Reinsurance (Group) Corp. Class H
1.70
0.93
119.92%
HK:1456
Guolian Securities Co., Ltd. Class H
5.39
1.49
38.21%
HK:2562
HK Acquisition Corp.
4.86
-14.74
-75.20%

ZhongAn Online P & C Insurance Co., Ltd Corporate Events

ZhongAn Online Reports Unaudited 2025 Gross Written Premiums of RMB35.64 Billion
Jan 15, 2026

ZhongAn Online P & C Insurance has reported aggregate gross written premiums of approximately RMB35.64 billion for the full year 2025, based on Chinese insurance accounting standards. The figure, which is unaudited and has not yet been reviewed by the company’s audit and consumer rights protection committee, provides investors with an early indication of the insurer’s business scale and premium growth for the year, though management cautions shareholders and potential investors not to place undue reliance on the preliminary data.

The most recent analyst rating on (HK:6060) stock is a Hold with a HK$16.00 price target. To see the full list of analyst forecasts on ZhongAn Online P & C Insurance Co., Ltd stock, see the HK:6060 Stock Forecast page.

ZhongAn Raises Caps on Connected Property Management Fees for 2026–2027
Dec 24, 2025

ZhongAn Online P & C Insurance Co., Ltd has announced a proposed increase in the annual caps for property management service fees payable under its Property Framework Agreement for 2026 and 2027, raising the limits from RMB17 million to RMB30 million for each year. The revision reflects expectations that expenses for property management services provided by RGMD Group, a connected party linked to non-executive director Yaping Ou, will exceed the previously approved caps. While the revised annual caps trigger reporting, announcement and annual review obligations under Hong Kong’s connected transaction rules, they remain below the threshold requiring independent shareholder approval, indicating a moderate expansion in operational property costs without altering the underlying terms of the agreement or the broader governance structure.

The most recent analyst rating on (HK:6060) stock is a Hold with a HK$16.00 price target. To see the full list of analyst forecasts on ZhongAn Online P & C Insurance Co., Ltd stock, see the HK:6060 Stock Forecast page.

ZhongAn Online Reports Gross Written Premiums for 2025
Dec 12, 2025

ZhongAn Online P & C Insurance Co., Ltd announced that its gross written premiums for the period from January 1, 2025, to November 30, 2025, amounted to approximately RMB32,904 million. This financial data is prepared according to Chinese accounting standards but remains unaudited, and stakeholders are advised to exercise caution in relying on this information.

The most recent analyst rating on (HK:6060) stock is a Hold with a HK$16.00 price target. To see the full list of analyst forecasts on ZhongAn Online P & C Insurance Co., Ltd stock, see the HK:6060 Stock Forecast page.

ZhongAn Online P & C Insurance Co., Ltd Elects New Chairman and Committee Members
Nov 28, 2025

ZhongAn Online P & C Insurance Co., Ltd announced the election of Mr. Hai Yin as the chairman of the Board and the appointment of members to its special committees. Mr. Yin, who has been with the company since 2022 and has an extensive background in finance and insurance, will serve a three-year term. These appointments are expected to strengthen the company’s strategic direction and governance structure, potentially impacting its market positioning positively.

The most recent analyst rating on (HK:6060) stock is a Hold with a HK$16.00 price target. To see the full list of analyst forecasts on ZhongAn Online P & C Insurance Co., Ltd stock, see the HK:6060 Stock Forecast page.

ZhongAn Online Announces Board Composition and Roles
Nov 28, 2025

ZhongAn Online P & C Insurance Co., Ltd. has announced the current composition of its board of directors and their respective roles within the company. This announcement provides clarity on the leadership structure and committee assignments, which is crucial for stakeholders to understand the company’s governance and strategic decision-making process.

The most recent analyst rating on (HK:6060) stock is a Hold with a HK$16.00 price target. To see the full list of analyst forecasts on ZhongAn Online P & C Insurance Co., Ltd stock, see the HK:6060 Stock Forecast page.

ZhongAn Online Establishes Strategic and Investment Decision Committee
Nov 28, 2025

ZhongAn Online P & C Insurance Co., Ltd. has established a Strategic and Investment Decision Committee to provide professional advice on corporate development, strategic asset planning, investment strategy, and ESG management. The committee, composed of at least three directors, will meet at least annually to guide the company’s strategic and investment decisions, enhancing its governance and operational efficiency.

The most recent analyst rating on (HK:6060) stock is a Hold with a HK$16.00 price target. To see the full list of analyst forecasts on ZhongAn Online P & C Insurance Co., Ltd stock, see the HK:6060 Stock Forecast page.

ZhongAn Online Updates Nomination and Remuneration Committee Terms
Nov 28, 2025

ZhongAn Online P & C Insurance Co., Ltd. has revised the terms of reference for its Nomination and Remuneration Management Committee. The committee is tasked with identifying and recommending candidates for director and senior management positions, overseeing board performance evaluations, and developing remuneration policies. It will consist of a majority of independent non-executive directors, ensuring compliance with listing rules and promoting transparency in remuneration procedures.

The most recent analyst rating on (HK:6060) stock is a Hold with a HK$16.00 price target. To see the full list of analyst forecasts on ZhongAn Online P & C Insurance Co., Ltd stock, see the HK:6060 Stock Forecast page.

ZhongAn Online Revises Nomination and Remuneration Committee Terms
Nov 28, 2025

ZhongAn Online P & C Insurance Co., Ltd has revised the terms of reference for its Nomination and Remuneration Management Committee, which was initially established in July 2021. The committee is tasked with identifying and recommending candidates for directors and senior management, overseeing board performance evaluations, and developing nomination procedures. It also advises on remuneration policies and evaluates performance, ensuring transparency and compliance with applicable laws and listing standards. The committee is composed of non-executive and independent non-executive directors, with a majority being independent, and meets at least annually.

The most recent analyst rating on (HK:6060) stock is a Hold with a HK$16.00 price target. To see the full list of analyst forecasts on ZhongAn Online P & C Insurance Co., Ltd stock, see the HK:6060 Stock Forecast page.

ZhongAn Online Reports RMB29,822 Million in Gross Written Premiums for 2025
Nov 13, 2025

ZhongAn Online P & C Insurance Co., Ltd. announced that its gross written premiums for the period from January 1, 2025, to October 31, 2025, amounted to approximately RMB29,822 million. This financial data, prepared according to Chinese accounting standards, is unaudited and has not been reviewed by the company’s audit committee, suggesting stakeholders should interpret the information with caution.

The most recent analyst rating on (HK:6060) stock is a Buy with a HK$24.00 price target. To see the full list of analyst forecasts on ZhongAn Online P & C Insurance Co., Ltd stock, see the HK:6060 Stock Forecast page.

ZhongAn Online Reports Strong Solvency Ratios for Q3 2025
Oct 30, 2025

ZhongAn Online P & C Insurance Co., Ltd. has announced its key solvency-related indicators for the third quarter of 2025, revealing a comprehensive solvency margin ratio of 227.58% and a core solvency margin ratio of 218.96%. These figures, alongside a net profit of RMB 129,148.51 and insurance business income of RMB 1,027,443.89, indicate a robust financial position for the company, which is crucial for maintaining investor confidence and ensuring compliance with regulatory requirements.

The most recent analyst rating on (HK:6060) stock is a Hold with a HK$18.50 price target. To see the full list of analyst forecasts on ZhongAn Online P & C Insurance Co., Ltd stock, see the HK:6060 Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 21, 2025