New China Life Insurance Company (601336) Q3 2025 earnings summary

Executive summary

• Achieved strong growth in revenue and net profit for the first nine months of 2025, driven by robust investment returns and improved business structure.

• Insurance business maintained steady expansion, with significant increases in long-term first-year premiums and improved persistency rates.

Financial highlights

• Operating revenue for Q3 2025 reached RMB 67,211 million, up 30.8% year-over-year; nine-month revenue was RMB 137,252 million, up 28.3%.

• Net profit attributable to shareholders for Q3 was RMB 18,058 million, up 88.2% year-over-year; nine-month net profit was RMB 32,857 million, up 58.9%.

• Basic and diluted EPS for the nine months were RMB 10.53, up 58.8% year-over-year.

• Total assets at September 30, 2025, were RMB 1,833,491 million, up 8.3% from year-end 2024.

• Net cash flow from operating activities for the nine months was RMB 90,174 million, up 1.6% year-over-year.

Outlook and guidance

• Investment returns expected to remain strong as capital markets stabilize and improve.

• Continued focus on optimizing business structure and enhancing sales force professionalism.