China Pacific Insurance (02601) expects its net profit attributable to the parent company for the year 2024 to be around 42.2 billion to 46.3 billion yuan, an increase of approximately 55% to 70% year-on-year.

China Pacific Insurance (02601) announced that it is expected that the company's net profit attributable to the parent company's shareholders for the year 2024 will be approximately RMB 42.2 billion to RMB 46.3 billion. Compared to the same period last year, it is expected to increase by approximately RMB 14.9 billion to RMB 19 billion, an increase of about 55% to 70%. It is also expected that the company's net profit attributable to the parent company's shareholders for the year 2024, excluding non-recurring gains and losses, will be approximately RMB 42.1 billion to RMB 46.1 billion, an increase of about RMB 15 billion to RMB 19 billion compared to the same period last year, an increase of about 55% to 70%. The announcement stated that in 2024, the company will focus on its main responsibilities and business, enhancing core functions and improving core competitiveness, further deepening comprehensive reforms, and accelerating the manifestation of high-quality development results. The insurance business continues to improve its level of service to national strategies, adhering to customer-oriented management and coordinated development, continuously enhancing integrated risk control capabilities, achieving new results in business quality control and operation management improvement, and further consolidating the momentum of sustainable high-quality development. The investment business adheres to a refined dumbbell-type asset allocation strategy that spans the cycle, maintaining a long-term, relatively stable allocation ratio of major asset classes. Under the guidance of strategic asset allocation, tracking and analyzing market trends, the company conducts disciplined and flexible tactical asset allocation, striving to maintain a robust profit-making ability in various market environments. Benefiting from a series of major policy incentives from the government and overall positive fluctuations in the capital market, the company's investment income for 2024 is expected to achieve a significant increase year-on-year, combined with the continuous consolidation of the insurance business's value foundation, driving a substantial increase in net profit.