Summary by Futu AI
China Pacific Insurance released a performance forecast on October 16, 2024, announcing that the net profit attributable to shareholders of the parent company in the first three quarters of 2024 is expected to reach RMB 37 billion to 39.4 billion, a year-on-year increase of 60% to 70%. The net profit after deducting non-recurring gains and losses is expected to be RMB 36.8 billion to 39.1 billion, also an increase of 60% to 70%. This forecasted increase is mainly due to the significant growth of equity asset investment income in the capital markets as a result of the company's strategic asset allocation. The company stated that there are currently no major uncertainties affecting the accuracy of the performance forecast, but the full-year profit growth is still subject to the impact of capital market fluctuations. The company reminded shareholders and potential investors to pay attention to investment risks and trade stocks with caution. Specific financial data will be confirmed in the company's formal third quarter report for 2024.
