Ge Long Hui A P P·2025-11-10 05:48Core Viewpoint - China Pacific Insurance's revenue and net profit attributable to shareholders for Q3 2025 are projected to grow by 24.6% and 35.2% year-on-year, reaching 144.4 billion and 17.8 billion yuan respectively, indicating a strong performance in the insurance sector [1] Financial Performance - For the first three quarters of 2025, cumulative revenue and net profit attributable to shareholders are expected to increase by 11.1% and 19.3% year-on-year [1] - The cumulative operating profit attributable to shareholders as of the end of Q3 grew by 7.4%, showing an acceleration compared to the 7.1% growth rate reported in the mid-year results [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, totaling 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 is 31.2% [1] - The comprehensive cost ratio for property insurance improved by 1 percentage point to 97.6% year-on-year, reflecting better operational efficiency [1] Market Outlook - The company is optimistic about the new single sales for the full year of 2026 and the upcoming "opening red" period [1] - The primary growth model for the company's agent channel is currently focused on wealth management and health protection needs for high-net-worth clients [1] - The current price-to-embedded value (PEV) ratios are 0.54, 0.48, and 0.43, maintaining a "buy" rating for the stock [1]