China Pacific Insurance (Group) Second Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 08/31 01:07

China Pacific Insurance (Group) (SHSE:601601) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥124.3b (up 23% from 2Q 2023).
  • Net income: CN¥13.4b (up 99% from 2Q 2023).
  • Profit margin: 11% (up from 6.6% in 2Q 2023). The increase in margin was driven by higher revenue.
  • EPS: CN¥1.39 (up from CN¥0.70 in 2Q 2023).
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SHSE:601601 Earnings and Revenue Growth August 31st 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

China Pacific Insurance (Group) Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 30%.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 1.5% growth forecast for the Insurance industry in Asia.

Performance of the market in China.

The company's shares are up 3.3% from a week ago.

Risk Analysis

We should say that we've discovered 1 warning sign for China Pacific Insurance (Group) that you should be aware of before investing here.