China Taibao (02601)'s net profit for the first three quarters is expected to be 37 billion to 39.4 billion yuan, an increase of about 60%-70% year-on-year

Zhitong Finance App News, China Taibao (02601) announced that according to the company's preliminary estimates, the company's net profit attributable to shareholders of the parent company in the first three quarters of 2024 is estimated to be about RMB 37 billion to RMB 39.4 billion. Compared with the same period in 2023, it is expected to increase by about RMB 13.9 billion to RMB 16.3 billion, an increase of about 60% to 70% over the previous year; the company's net profit attributable to shareholders of the parent company in the first three quarters of 2024 is estimated to be about RMB 36.8 billion to RMB 39.1 billion, compared with the same period in 2023. The increase was approximately RMB 13.8 billion to RMB 16.1 billion, an increase of about 60% to 70% over the previous year.

According to the announcement, the main reason for the expected increase in the company's performance for the first three quarters of 2024 is that according to the strategic asset allocation plan, the company maintains a certain percentage of equity assets in its portfolio. Following the recent rise in the capital market, the company's investment income for the first three quarters of 2024 increased significantly year-on-year, and achieved a significant increase in net profit for the first three quarters of 2024.