【UBS Raises ZhongAn Online Target Price to HKD 22.3 to Reflect Its Long-term Stablecoin/Cryptocurrency Opportunities】According to Jinse Finance, UBS released a research report stating that ZhongAn Online's after-tax net profit in the first half of the year increased 11 times year-on-year to RMB 668 million, reaching 68% of the market's full-year profit forecast. The comprehensive cost ratio improved by 2.3 percentage points year-on-year to 95.6%, potentially exceeding market expectations, and the banking business has turned profitable. Therefore, UBS raised ZhongAn Online's target price from HKD 13.1 to HKD 22.3 to reflect long-term stablecoin/cryptocurrency opportunities, favorable policies in the stock market, and rolling valuations.