Shanghai Securities News China Securities Network News Pan China Holdings Group recently disclosed its unaudited financial report for the third quarter of 2023. According to the financial report, the net profit attributable to shareholders of Pan China Holdings was 170 million yuan (RMB, the same below), a significant increase of 382.6% year-on-year. The total premium scale of life insurance reached 3.44 billion yuan, a year-on-year increase of 23.2%, of which the new premium for life insurance was 580 million yuan, a year-on-year increase of 10.3%.
Pan China Holdings Group was listed on the global NASDAQ stock exchange in the United States in 2007. The financial report shows that the net profit attributable to shareholders of Pan China Holdings in the first nine months was 310 million yuan, a significant increase of 9.37 times year-on-year; The total premium scale in the first nine months reached 12.4 billion yuan, a year-on-year increase of 35%; The new premium was 2.9 billion yuan, a year-on-year increase of 78%; The adjusted EBITDA was 200 million yuan, achieving a year-on-year increase of 89%.
The management of Pan China Holdings believes that the implementation of both the predetermined interest rate reduction and the integration of reporting and banking policies will undoubtedly pose significant challenges to the insurance industry in the short term. However, in the long run, the implementation of these two policies will promote the industry to achieve more standardized, sustainable, and high-quality development. (Zhou Liang)