Zhitem Financial News App, Hubei Biocause Pharmaceutical (000627.SZ) announced its performance forecast for the first three quarters of 2024, expecting a net loss attributable to shareholders of the listed company to be between 0.315 billion yuan and 0.345 billion yuan.

In the first three quarters, with the interest rate market environment continuously declining, the company's controlling subsidiary, China Best Life, was affected by the downward movement of the 750-day moving average government bond yield curve, increasing provision, despite China Best Life's efforts to optimize its product structure, enhance new business value, reduce liability costs, and minimize the adverse effects mentioned above as much as possible, it was still unable to offset all the impact of the increased provisions, leading to a larger accumulated loss for the year compared to the same period last year. With the recent recovery in the capital markets, the company's investment income has improved, narrowing the loss in the first three quarters of 2024 compared to the first half-year.

China Best Life, following its established development strategy, maintains a moderate business scale, continuously promotes business structure optimization, asset allocation structure optimization, steadily advances asset-liability matching, continuously strengthens new technology applications and talent reserves, improves the company's operational management system, and comprehensively enhances the company's operational capabilities. While ensuring the basic stability of premium income, China Best Life timely adjusts business pace and structure according to market conditions, vigorously promotes the development of long-term value and risk protection-oriented business. Currently, China Best Life's business operations are orderly, with a moderate and stable scale, achieving an original insurance premium income of 30.342 billion yuan in the first three quarters of 2024.