PICC expects up to 50% profit surge in Q1 2025

The People's Insurance Company (Group) of China Limited (PICC) announced that it expects a significant increase in net profit attributable to equity holders of the parent company for the first quarter of 2025. The company estimates a profit range of between CNY11,652 million and CNY13,445 million, reflecting an increase of CNY2,689 million to CNY4,482 million, or 30% to 50% year-over-year. After deduction of non-recurring profit and loss, net profit is expected to range from CNY11,606 million to CNY13,392 million. The projected increase is attributed to successful implementation of strategic policies, improved insurance product offerings, and strong investment performance. The company has released that the 2025 report results have yet to be audited.