China Life(601628)2025-01-24 09:40Financial Projections - The estimated net profit for 2024 under Chinese accounting standards is projected to be between RMB 102.368 billion and RMB 112.605 billion, representing an increase of approximately RMB 51.184 billion to RMB 61.421 billion compared to 2023, with a year-on-year growth of about 100% to 120%[3]. - Under international financial reporting standards, the estimated net profit for 2024 is also projected to be between RMB 102.368 billion and RMB 112.605 billion, with an increase of approximately RMB 56.187 billion to RMB 66.424 billion compared to 2023, indicating a year-on-year growth of about 122% to 144%[6]. - The estimated results for 2024 are preliminary and have not been audited, with the company committed to updating stakeholders if there are significant discrepancies in future results[16]. - There are no significant uncertainties that could affect the accuracy of the performance forecast[15]. Historical Financial Performance - The net profit attributable to the parent company's shareholders for 2023 was RMB 51.184 billion, with a total profit of RMB 51.988 billion under Chinese accounting standards[9]. - The net profit attributable to the company's shareholders for 2023 under international financial reporting standards was RMB 46.181 billion, with a pre-tax profit of RMB 44.576 billion[12]. - The basic and diluted earnings per share for 2023 were RMB 1.81 under Chinese accounting standards and RMB 1.63 under international financial reporting standards[10][13]. Investment Strategy - The company emphasizes a long-term investment strategy and has optimized its equity investment structure, leading to a significant increase in total investment income due to a rebound in the stock market[14]. - The company has adhered to the principle of asset-liability matching and has engaged in cross-cycle allocation to seize market opportunities[14]. Future Reporting - The company will provide detailed financial data for 2024 in its annual report, which will be disclosed later[17].