Benefiting from the recovery of the stock market, China Life Insurance (601628.SH) expects net profit from 101,135 billion yuan to 108.767 billion yuan in the first three quarters, a year-on-year increase of 165% to 185%

According to Zhitong Finance App News, China Life Insurance (601628.SH) announced a pre-increase in results for the first three quarters of 2024. According to the company's preliminary estimates, the company's net profit attributable to shareholders of the parent company for the first three quarters of 2024 is estimated to be about RMB 101.115 billion to RMB 108.767 billion. Compared with the same period in 2023, it will increase by about RMB 62,971 billion to RMB 70.603 billion, an increase of about 165% to 185% year-on-year.

It is estimated that under Chinese corporate accounting standards, the company's net profit attributable to shareholders of the parent company after deducting non-recurring profit and loss in the first three quarters of 2024 is about RMB 109.178 billion. Compared with the same period in 2023, it will increase by about RMB 63.208 billion to RMB 70.87 billion, an increase of about 165% to 185% over the previous year.

According to reports, the company adheres to the principle of balance and liability matching and the concept of long-term investment, value investment, and steady investment, seizes market opportunities to carry out cross-cycle allocation, and continues to promote the optimization of the equity investment structure. The stock market picked up significantly in the third quarter of 2024, and the company's investment income increased significantly year-on-year.