PICC Property and Casualty (02328) announces profit growth, expecting a year-on-year increase of approximately 40% to 60% in net profit for the first three quarters.

PICC P&C (02328) announced that, according to the company's preliminary calculations, it is expected that the net profit for the first three quarters of 2025 (from January 1, 2025 to September 30, 2025) will increase by approximately 40% to 60% compared to the same period in 2024. In the first three quarters of 2025, the overall operation of China's economy was stable and good. The company adhered to the overall principle of seeking stability while seeking progress, focusing on serving the modernization of China, carrying out five major financial initiatives, deepening the structural reform of insurance supply, implementing the goal of "five first-class" requirements of the People's Insurance Group, optimizing its operating and management mode, strengthening strategic deployment in key areas, promoting business development to improve quality and efficiency, accurately and efficiently allocating resources, deepening digital transformation, continuously enhancing operational management capabilities and risk prevention and control levels, and significantly increasing underwriting profits year-on-year. At the same time, the company remains optimistic about the development prospects of the Chinese economy and capital market. On the basis of maintaining liquidity safety margins, the company moderately increased the allocation of high-quality equity assets with long-term value. Benefiting from the rise in the capital market in the first three quarters, the optimization of the company's investment structure amplified the positive effects of the market rise, leading to a significant increase in total investment income year-on-year.