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<Research>G Sachs: AIA FY25 Results Largely In Line
Recommend 3 Positive 4 Negative 2 |
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AIA (01299.HK)'s FY25 results were largely in line, Goldman Sachs' report said. The VONB for FY25 was USD5.5 billion, meeting street consensus but 1% below the broker's forecast of USD5.6 billion. This was mainly attributable to a deceleration in business growth in Thailand and Mainland China in 4Q25, while Hong Kong maintained strong growth momentum in 2H25. The meager sales in Mainland China in 4Q25 were likely in preparation for 2026 jump-start sales, with VONB growing more than 20% YoY during January-February 2026. Besides, the report noted that AIA announced a new share buyback totaling USD1.7 billion, topping the market expectation of USD1.6 billion. AIA was rated as Buy with a target price of HKD96. AASTOCKS Financial News Website: www.aastocks.com |
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