Core Viewpoint - In 2024, the company achieved a net profit of 600 million yuan, a year-on-year increase of 105.4%, driven by improvements in investment income and profitability in its insurance and technology sectors [2][3]. Financial Performance - The company reported total revenue of 34.13 billion yuan, a year-on-year increase of 1.8%, with insurance service revenue reaching 31.74 billion yuan, up 15.3% [2]. - The net investment return rate was 2.0%, down 0.2 percentage points year-on-year, while the total investment return rate was 3.4%, up 0.7 percentage points [2][3]. Insurance Segment Analysis - The insurance segment's underwriting profit was 990 million yuan, a decrease of 24.4% year-on-year, influenced by increased claims and costs [4]. - The comprehensive cost ratio rose by 1.7 percentage points to 96.9%, with the comprehensive claims ratio and expense ratio increasing to 58.3% and 38.6%, respectively [4]. Premium Income Growth - Total premium income reached 33.42 billion yuan, a year-on-year increase of 13.3%, with significant contributions from health, digital life, and automotive ecosystems [5][6]. - The health ecosystem generated 10.34 billion yuan in premium income, up 5.4%, while the digital life ecosystem saw a 28.9% increase to 16.20 billion yuan [6][7]. Technology Sector Performance - The technology segment turned profitable with a net profit of 80 million yuan, compared to a loss of 470 million yuan in the previous year, supported by a 15.3% increase in technology output revenue to 960 million yuan [9].
【众安在线(6060.HK)】投资大幅改善,科技扭亏为盈——2024年年报点评(王一峰/黄怡婷)
光大证券研究·2025-03-22 14:46