Jinwu Financial News | According to Dongwu Securities Research Report, Sunshine Insurance (06963) achieved total premium income of 118.91 billion yuan, an increase of 9.3% over the previous year. It achieved insurance service revenue of 59.90 billion yuan, an increase of 7.5% year on year; net profit attributable to mother was 3.74 billion yuan, down 16.8% year on year; ROE fell 2.3 pct. year on year to 6.0%, and dividend per share remained flat at 0.18 yuan. Performance was in line with expectations, and the decline in profits was hampered by implementation of new financial instrument standards and market fluctuations.
According to the bank, the company continues to build a new sunshine strategy with three core elements: building technological sunshine, creating value sunshine through model innovation, and creating a kind culture of love and responsibility to create smart sunshine. According to the revised profit forecast disclosed in the annual report, the bank expects net profit to be 72, 76, and 8.1 billion yuan for 2024-26 (the original 2024-25 forecast was 8.1 billion yuan and 9.1 billion yuan, and the 26-year forecast was added), maintaining the “buy” rating.