Summary by Moomoo AI
China Life Insurance Co., Ltd. (China Life) released its financial report as of September 30, 2024, showing significant business growth in the first three quarters of 2024. During the reporting period, China Life's total revenue increased by 14.6% compared to the same period last year, reaching 64,815.54 million yuan. In terms of net profit, the company achieved a year-on-year growth of 72.9%, reaching 5,667.04 million yuan. Furthermore, the net profit for the third quarter alone achieved a remarkable growth of 124.7%, reaching 1,929.64 million yuan. This strong business growth is mainly attributed to a significant increase in insurance business income, with the investment yield notably increasing by 1,767.1%. Shareholder's profit increased by 173.9% year-on-year, demonstrating the company's solid overall financial condition. Among China Life's shareholders, HKSCC Nominees Limited holds the largest stake at 25.92%. The financial report reflects China Life's positive growth momentum in 2024, sending a positive signal to investors.
