HK Stock Market Move | PICC P&C (02328) rose more than 3% after the earnings report, with an expected increase in net profit for the first three quarters of about 60% compared to the same period last year.

PICC P&C (02328) rose more than 3% after the announcement, as of the time of writing, it rose 2.24% to HK$19.2, with a turnover of HK$426 million. On the news front, on October 16th, PICC P&C released an announcement, stating that based on preliminary calculations, the company expects its net profit for the first three quarters of 2025 (January 1, 2025 to September 30, 2025) to increase by about 40% to 60% compared to the same period in 2024. The announcement mentioned that benefited from the rise in the capital market in the first three quarters, the optimization of the company's investment structure has magnified the positive effects of the market rise, resulting in a significant increase in total investment income compared to the previous year. Citigroup pointed out that the median profit forecast for PICC P&C for the first three quarters of 2025 is 40.1 billion RMB, exceeding market expectations. The implied net profit for the third quarter of 2025 calculated according to Chinese accounting standards is approximately 14 to 19 billion RMB, indicating an annual growth of about 51% to 108%.