PICC Property and Casualty Company Limited (2328.HK) stock analysis

In our weekly check, PICC Property and Casualty Company Limited is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 19 pass, warnings: 3, red flags: 3.

About PICC Property and Casualty Company Limited

PICC Property and Casualty Company Limited is a Financial Services company (Insurance - Property & Casualty) based in China, listed on HKSE as 2328.HK.

What our checks show for 2328.HK

Red flags

• The dividend takes 210% of profit: little cushion if profit falls.
• The stock has fallen as much as 89% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 5.8 years.

Warning signs

• Analysts expect only about 5% a year of growth in revenue.
• The net margin is only 7.7%: little room if costs rise.
• Return on capital (ROCE) is only 6.6%.

Strengths

• The net margin rose by 2.3 points over 5 years, to 7.7%.
• The gross margin is 110% and has risen by 10 points: pricing power is holding.
• Operating cash flow is 1.54x net profit: the profit arrives as real cash.
• Earnings per share grew 10.6% a year over the last 3 years.
• Net profit grew 10.5% a year over the last 3 years.
• Free cash flow is 11.2% of revenue: cash for dividends, buybacks or growth.

Similar companies

1339.HK · CB · PGR · TRV · ALL · PZU.WA

Questions

What grade does PICC Property and Casualty Company Limited (2328.HK) have?

In our weekly check, PICC Property and Casualty Company Limited is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 19 pass, warnings: 3, red flags: 3. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of 2328.HK stock?

This week's biggest flags for PICC Property and Casualty Company Limited: Dividend stretched, Deep past fall, Slow recovery after falls. In total 6 of 25 checks show a warning or a red flag.

What does PICC Property and Casualty Company Limited do?

PICC Property and Casualty Company Limited is a Financial Services company (Insurance - Property & Casualty) based in China, listed on HKSE as 2328.HK.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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