中国太保：3Q NBV growth accelerated; expect par sales to outgrow

1 Nov 2024 CMB International Global Markets | Equity Research | Company Update CPIC (2601 HK) 3Q NBV growth accelerated; expect par sales to outgrow CPIC released 3Q results with NPAT up 65.5% YoY to RMB38.3bn, at mid-point of announced profit alert (link) to rise by 60%-70%. 3Q NPAT grew 173.6% YoY to RMB13.2bn, driven by a surge in investment income and net fair value gains on top of a low base in 3Q23. Headline NBV rose 37.9% YoY to RMB14.2bn in 9M24, translating to the 3Q NBV on a like-for-like basis su ...