CoinVoice has recently learned that UBS has published a research report stating that ZhongAn Online's net profit after tax in the first half of the year increased 11 times year-on-year to 668 million RMB, reaching 68% of the market's full-year profit forecast.

The comprehensive cost ratio improved by 2.3 percentage points compared to the same period last year to 95.6%, possibly exceeding market expectations, and the banking business has turned profitable. Therefore, UBS raised the target price for ZhongAn Online from HKD 13.1 to HKD 22.3 to reflect long-term cryptocurrency opportunities, favorable policies in the stock market, and rolling valuations. [Original link]