Tianmao Group (000627.SZ) issued an advance loss. The net loss for the first three quarters is expected to be 315 million yuan to 345 million yuan

According to the Zhitong Finance App, Tianmao Group (000627.SZ) released a performance forecast for the first three quarters of 2024. The net loss attributable to shareholders of listed companies for the first three quarters is expected to be 315 million yuan to 345 million yuan.

In the first three quarters, the interest rate market environment continued to decline. Guohua Life, the holding subsidiary of the company, was affected by the decline in the 750-day moving average treasury bond yield curve and increased accrued reserves. Although Guohua Life minimized these adverse effects through measures such as continuously optimizing the product structure, increasing new business value, and reducing debt costs, it was still unable to fully offset the impact of the additional reserves, causing the cumulative loss for the year to expand compared to the same period last year. The capital market has recently picked up, and the company's investment income has improved, and the loss margin for the first three quarters of 2024 narrowed compared to half a year.

Guohua Life maintains a moderate business scale in accordance with established development ideas, continuously promotes business structure optimization, asset allocation structure optimization, steadily promotes balance and liability matching, continuously strengthens the application of new technology and talent reserves, improves the company's management system, and comprehensively enhances the company's operating capacity. While ensuring that premium income remains basically stable, adjust the business pace and structure in due course according to market conditions, and vigorously promote long-term value and risk guaranteed business development. Currently, Guohua Life Insurance's business is operating in an orderly manner and is moderately stable. The original insurance premium income was 30.342 billion yuan in the first three quarters of 2024.