The profit increase announcement is here! CPIC expects a 55-70% growth in net profit attributable to shareholders in 2024

On the evening of January 22, CPIC released a performance forecast announcement.

The relevant announcement shows that CPIC's net profit attributable to shareholders of the parent company for the year 2024 is expected to be approximately RMB 42.2 billion to RMB 46.3 billion, an increase of approximately RMB 14.9 billion to RMB 19 billion compared to the same period last year, an increase of approximately 55% to 70% year-on-year.

The upper limit of this performance growth rate is higher than the 65% growth rate of net profit attributable to the parent company reported in the company's third quarterly report.

At the same time, the company also expects that the net profit attributable to shareholders of the parent company for the year 2024, after deducting non-recurring gains and losses, will be approximately RMB 42.1 billion to RMB 46.1 billion, an increase of approximately RMB 15 billion to RMB 19 billion compared to the same period last year, with a year-on-year increase of approximately 55% to 70%.

The announcement indicates that CPIC's performance in 2024 will focus on its main responsibilities and core business, enhancing core functions and competitiveness, further deepening reforms comprehensively, and accelerating the results of high-quality development. The insurance business continues to enhance its ability to serve national strategies, adhering to customer management and collaborative development, continuously strengthening integrated risk control capabilities, and achieving new results in business quality control and operational management, further consolidating the trend of sustainable high-quality development.

The investment business adheres to a refined, cyclical, and bell-shaped asset allocation strategy, maintaining a relatively stable long-term allocation ratio of major asset classes. Under the guidance of strategic asset allocation, it tracks and analyzes market trends, conducts tactical asset allocation in a disciplined and flexible manner, striving to maintain robust profitability in various market environments.

Benefiting from a series of major favorable national policies and the overall upward fluctuation of the capital market, the company's investment income for the year 2024 is expected to achieve a significant year-on-year increase, while the continuous solidification of the value foundation of the insurance business will drive a substantial increase in net profit.