PICC P&C issues profit warning, expecting net profit in the first three quarters to increase by approximately 40% to 60% year-on-year
PICC P&C expects its net profit in the first three quarters of 2025 to increase by approximately 40% to 60% year-on-year. The company will continue to focus on serving Chinese-style modernization, deepen the structural reform of the insurance supply side, and promote the quality and efficiency of business development. Benefiting from the rise in the capital market, the company optimizes its allocation structure and enhances total investment returns
According to the announcement from PICC P&C (02328), the company estimates that its net profit for the first three quarters of 2025 (from January 1, 2025, to September 30, 2025) will increase by approximately 40% to 60% compared to the same period in 2024.
In the first three quarters of 2025, the overall operation of China's economy is stable and improving. The company adheres to the general principle of seeking progress while maintaining stability, focuses on serving Chinese-style modernization, effectively implements the "five major articles" of finance, deepens the structural reform of the insurance supply side, fulfills the "five first-class" goals and requirements of the People’s Insurance Group, optimizes the management model, strengthens strategic layout in key areas, promotes quality and efficiency improvements in business development, ensures precise and efficient resource allocation, and deepens and solidifies digital transformation, continuously enhancing operational management capabilities and risk prevention levels, resulting in a significant year-on-year increase in underwriting profits. At the same time, the company remains optimistic about the development prospects of the Chinese economy and capital market, and on the basis of maintaining a safe liquidity margin, moderately increases the allocation of high-quality equity assets with long-term value. Benefiting from the rise in the capital market in the first three quarters, the optimization of the company's allocation structure has amplified the positive effects of the market rise, leading to a substantial year-on-year increase in total investment income
