BlockBeats news, August 22, UBS 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 forecast for its full-year earnings. The comprehensive cost ratio improved by 2.3 percentage points year-on-year to 95.6%, which may exceed 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 stablecoin/cryptocurrency opportunities, favorable policies in the stock market, and rolling valuations. (aastocks)