＜Research＞G Sachs Expects AIA (01299.HK) 2Q VONB to Rise 17% YoY at CER Basis

　　The 22% cumulative decline in AIA (01299.HK) +1.150 (+2.262%) Short selling $237.37M; Ratio 18.667% 's share price since 20 May evaporated the Company's gains since the announcement of its capital management policy and the expansion of its share buyback program in April, according to Goldman Sachs.

　　It is believed that this situation reflects the decline in the HSI and investors' continuous concerns about the rebound in earnings and the growth in embedded value (EV) and VONB.

　　Related NewsCiti Expects AIA (01299.HK) 1H24 VONB to Rise 24% YoY at Constant Exchange Rate, Cuts TP to $99

　　Goldman Sachs forecasted that AIA's 2Q24 VONB will increase by 17%/ 15% YoY at constant exchange rate (CER) and actual exchange rate (AER) each, while profit after tax growth for the interim period will turn positive, with a 2% YoY rise. Goldman Sachs will focus on 2H24 outlook of AIA's management.

　　Goldman Sachs reiterated rating at Buy on AIA, and listed the Company in Conviction List Buy, based on the Company's solid VONB growth, strong balance sheet and earnings generation. Goldman Sachs' target price for AIA is $92, equivalent to 9x projected VONB for 2025.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-26 12:25.)

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