China Taiping (00966) surged more than 8% in afternoon trading. As of the time of writing, the stock was up 6.82%, trading at HK$22.88 with a turnover of HK$356 million.
The movement follows the company's positive profit alert issued during the midday break. According to preliminary estimates, the Group's profit attributable to shareholders for the year ending December 31, 2025, is expected to increase by approximately 215% to 225% compared to the previous year. The profit attributable to shareholders for the 2024 financial year was HK$8.432 billion.
The announcement stated that the Group is implementing a high-quality development strategy, adhering to the principles of seeking progress while maintaining stability, upholding integrity and innovation, and being value-oriented, with its insurance business maintaining steady and healthy development.
The projected increase in profit attributable to the company's shareholders is primarily attributed to an improvement in net investment performance compared to the 2024 financial year, as well as the one-time impact of the new corporate income tax policy introduced by China's national tax authorities for the country's insurance industry.
Comments