Summary by Futu AI
China Life Insurance Co., Ltd. (China Life) released its financial report on September 30, 2024, showing significant business performance growth in the first three quarters of 2024. During the reporting period, China Life's total revenue increased by 14.6% compared to the same period last year, reaching 64,815.54 million yuan. In terms of net profit, the company saw a 72.9% year-on-year increase, reaching 5,667.04 million yuan. Furthermore, the net profit for the third quarter alone achieved a staggering growth of 124.7%, reaching 1,929.64 million yuan. This strong performance growth is mainly attributed to a significant increase in insurance business income, with the investment income rate increasing significantly by 1,767.1%. Shareholders' profit increased by 173.9% year-on-year, demonstrating the company's overall solid financial condition. In China Life's shareholder structure, HKSCC Nominees Limited holds a 25.92% stake, making it the largest shareholder of the company. This financial report reflects China Life's positive growth momentum in 2024, sending a positive signal to investors.