web3gameplatform| Citi: Maintain AIA's "Buy" rating target price of HK$100

Citigroup released a research report saying it maintained the "buy" rating of AIA (01299), with a target price of HK $100. The management of the company is optimistic about the growth prospects of the business in Hong Kong and the mainland.Web3gameplatformThe capital management policy provides more clarity.

The basic free surplus will be a long-term key performance indicator, according to the report. Management aims to maintain the ratio of total capital resources to required capital from a shareholder perspective of more than 200 per cent, which will be 269 per cent in 2023, taking into account the remaining $2.8 billion of the company's existing $10 billion buyback program and the newly announced $2 billion buyback plan, the ratio will narrow to 238 per cent. In fiscal year 2023, shareholders' view of total capital resources was $40.8 billion, including a free surplus of $16.3 billion, eligible debt of $9.3 billion and capital requirements of $15.2 billion.

The bank mentioned that with regard to free surplus, some people believe that basic free surplus is one of the key indicators of management's short-term incentive plan and should be added to long-term key performance indicators. The main indicator of the value of new business in the future will be free earnings flow. As for eligible debt, management said that according to Moody's credit rating, the company had room to increase leverage from about 15 per cent to 20 per cent, while the capital required, management said, would grow as the business grew.