Xin Lang Cai Jing·2025-11-10 05:48Core Viewpoint - China Pacific Insurance's revenue and net profit attributable to shareholders for Q3 2025 increased by 24.6% and 35.2% year-on-year, reaching 144.4 billion and 17.8 billion yuan respectively, indicating strong growth momentum [1] Financial Performance - The cumulative revenue and net profit attributable to shareholders for the first three quarters of 2025 grew by 11.1% and 19.3% year-on-year [1] - The cumulative operating profit attributable to shareholders as of the end of Q3 increased by 7.4%, showing an acceleration compared to the 7.1% growth rate reported in the mid-year [1] - As of the end of September, the group's net assets attributable to shareholders decreased by 2.5% from the beginning of the year to 284.2 billion yuan [1] Business Segments - The cumulative year-on-year growth rate of new business value (NBV) for life insurance in the first three quarters was 31.2% [1] - The comprehensive cost ratio for property insurance improved by 1 percentage point year-on-year to 97.6% [1] Market Outlook - The company is optimistic about the new single sales for the full year of 2026 and the "opening red" sales [1] - The current growth model for the company's agent channel is increasingly focused on wealth management and health protection needs for mid-to-high-end clients [1] - The current price-to-embedded value (PEV) ratios are 0.54, 0.48, and 0.43 times, maintaining a "buy" rating [1]