New China Life Insurance (601336.SH) forecasts a net profit of 23.958 billion to 25.7 billion yuan for the year 2024, an increase of 175% to 195% year-on-year.

New China Life Insurance (601336.SH) announced that the net profit attributable to the parent company's shareholders for the year 2024 is expected to be between 23.958 billion and 25.7 billion yuan, an increase of 15.246 billion to 16.988 billion yuan compared to the year 2023, a year-on-year growth of 175% to 195%. In 2024, the company actively promoted customer-centric strategic transformation and upgrade, adhering to professional, market-oriented, and systematic reforms, to create a learning and service-empowering organization. In terms of institutional mechanisms, product development, customer service, ecosystem construction, technological empowerment, and investment research system, the company has made a comprehensive set of operational and management strategies. The company's business structure and quality continue to improve, with initial results showing connotation-based, high-quality development. The company remains optimistic about China's economic development, leveraging its advantages in long-term capital, patient capital, and high-energy strategic capital, actively serving the real economy and focusing on financial "five major articles". The company continuously enhances investment management capabilities, strengthens the investment research system, and builds a professional team of talent, while appropriately increasing investments in public market stocks and bonds. Influenced by a series of major policy initiatives in 2024 and other factors, the capital market has experienced a warming and upward trend, leading to a significant year-on-year increase in investment returns for the company in 2024, coupled with optimized insurance business structure and scale growth, ultimately resulting in a significant year-on-year increase in net profit for 2024.