Xinhua Insurance: Net profit in the first quarter is expected to drop by 70%-80% year-on-year – Teller Report

Securities Times e company news, Xinhua Insurance (601336) announced on the evening of April 22 that the company’s net profit attributable to shareholders of the parent company in the first quarter of 2022 was 1.261 billion yuan -1.892 billion yuan, which is expected to decrease compared with the same period in 2021. 4.414 billion yuan to 5.044 billion yuan, a year-on-year decrease of 70%-80%. In the case of a high base of net profit in the same period last year, the current period was affected by the downturn in the capital market and the investment income decreased, resulting in a large year-on-year change in the net profit of the current period. The company operates normally, and in the first quarter, the accumulated original insurance premium income was 64.890 billion yuan, a year-on-year increase of 2.4%.