(Corrects story to clarify date of Ping An inclusion.)
Jan. 31 (Bloomberg) -- Goldman Sachs Group Inc. added Ping An Insurance Group Co.’s yuan-denominated A shares to its so- called conviction list two weeks ago.
Goldman Sachs cited Ping An’s “robust net book value growth” and “solid” management as the reason for the addition, analysts Ning Ma and Kelvin Koh wrote in a report dated today. The inclusion took place on Jan. 18, according to Connie Ling, a Hong Kong-based spokeswoman for Goldman Sachs.
Other A shares on the conviction list include Baoshan Iron & Steel Co., China Merchants Bank Co. and Poly Real Estate Group Co. The brokerage said in its report Shenzhen Noposion Agrochemicals Co., Qinghai Salt Lake Industry Co., Guangzhou Friendship Group Co., Hubei Huitian Adhesive Enterprise Co. and BesTV New Media Co. offer “the most upside potential” to their current share prices.
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