HK Stock Market Move | New China Life Insurance (01336) opened nearly 3% higher, with the expected annual net profit attributable to the parent company to increase by 175%-195% year-on-year.

New China Life Insurance (01336) opened nearly 3% higher, up 2.97% as of the time of writing, at 24.25 Hong Kong dollars, with a turnover of 79.758 million Hong Kong dollars. On the news front, New China Life Insurance announced that, based on the company's preliminary calculations, the company is expected to achieve a net profit attributable to shareholders of the parent company of 23.958 billion to 25.700 billion yuan in 2024, compared to the year 2023, an increase of 15.246 billion to 16.988 billion yuan, an increase of 175% to 195%; the company's net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses is expected to be 24.052 billion to 25.801 billion yuan in 2024, compared to the year 2023, an increase of 15.306 billion to 17.055 billion yuan, an increase of 175% to 195%. The company's earnings per share (basic and diluted) for 2024 are expected to be 7.68 yuan to 8.24 yuan, an increase of 4.89 yuan to 5.45 yuan compared to 2023, an increase of 175% to 195%.