偿付能力季度报告摘要节录 太平洋健康保险股份有限公司 Pacific Health Insurance Co., Ltd. 2024 年第 3 季度 公司简介和报告联系人 | 公司名称（中文）： | 太平洋健康保险股份有限公司 | | --- | --- | | 公司名称（英文）： | Pacific Health Insurance Co., Ltd. | | 法定代表人： | 马欣 | | 注册地址： | 中国（上海）自由贸易试验区世纪大道 1229 | | | 号世纪大都会 1 号楼 13 楼 | | 注册资本： | 36 亿元人民币 | | 经营保险业务许可证号： | 00000117 | | 开业时间： | 二零一四年十二月 | | 经营范围： | 各种人民币和外币的健康保险业务、意外伤 | | | 害保险业务；与国家医疗保障政策配套、受 | | | 政府委托的健康保险业务；上述业务的再保 | | | 险业务；与健康保险有关的咨询服务业务及 | | | 代理业务；国家法律、法规允许的保险资金 | | | 运用业务；中国保监会批准的其他业务。 | | 经营区域： | 上海市、北京市、广东省和四川省 | ...

证券代码：601601 证券简称：中国太保 公告编号：2024-053 重要提示 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国太平洋保险（集团）股份有限公司 第十届董事会第六次会议决议公告 本公司第十届董事会第六次会议通知于 2024 年 10 月 16 日以书面方式发出， 并于 2024 年 10 月 30 日在广州召开。会议由傅帆董事长主持。应出席会议的董 事 15 人，亲自出席会议的董事 15 人。本公司监事、部分高级管理人员和董事会 秘书列席了会议。本次董事会会议出席人数符合法定人数要求，会议召开符合《公 司法》及《公司章程》的有关规定。 经与会董事审议并现场表决，形成以下会议决议： 一、审议并通过了《关于<中国太平洋保险（集团）股份有限公司 2024 年第 三季度报告>的议案》 具体内容详见本公司于同日在上海证券交易所网站（www.sse.com.cn）披露 的《中国太平洋保险（集团）股份有限公司 2024 年第三季度报告》。 本公司董事会审计与关联交易控制委员会已审核通过该项议案。 表决结果：赞成 15 票 ...

公司简介和报告联系人 | 公司名称（中文）： | 中国太平洋财产保险股份有限公司 | | --- | --- | | 公司名称（英文）： | China Pacific Property Insurance Company | | | Limited | | 法定代表人： | 顾越 | | 注册地址： | 中国（上海）自由贸易试验区银城中路 190 号 | | | 交银大厦南楼 | | 注册资本： | 199.48 亿元人民币 | | 经营保险业务许可证号：000014 | | | 开业时间： | 二零零一年十一月 | | 经营范围： | 财产损失保险；责任保险；信用保险和保证保 | | | 险；短期健康保险和意外伤害保险；上述保险 | | | 业务的再保险业务；国家法律、法规允许的保 | | | 险资金运用业务；经中国保监会批准的其他业 | | | 务。 | | 经营区域： | 中华人民共和国境内(港、澳、台地区除外) | | 报告联系人姓名： | 汪羽成 | | 办公室电话： | 021-33962680 | | 移动电话： | 13917427405 | | 电子信箱： | wangyucheng-00 ...

Financial Performance - In Q3 2024, China Pacific Insurance reported operating revenue of RMB 115,930 million, an increase of 44.2% compared to Q3 2023[3] - The net profit for Q3 2024 reached RMB 13,178 million, reflecting a significant growth of 173.6% year-over-year[3] - The net profit excluding non-recurring gains and losses was RMB 13,173 million, up 174.2% from the same period last year[3] - For the first nine months of 2024, total operating revenue was RMB 310,564 million, a 21.3% increase compared to the first nine months of 2023[3] - The net profit for the first nine months of 2024 was RMB 38,310 million, representing a 65.5% increase year-over-year[3] - The comprehensive income totalled RMB 34,626 million for the first nine months of 2024, compared to RMB 18,458 million in the same period last year, representing an increase of 87.5%[23] - The company's earnings per share (EPS) for the first nine months of 2024 was RMB 3.98, compared to RMB 2.41 in the same period of 2023, indicating a significant growth[23] Assets and Liabilities - Total assets as of September 30, 2024, amounted to RMB 2,684,461 million, a 14.5% increase from the end of 2023[3] - Total liabilities increased to RMB 2,384,487 million as of September 30, 2024, compared to RMB 2,076,258 million at the end of 2023, reflecting a growth of 14.9%[22] - The insurance contract liabilities rose to RMB 2,155,399 million, up from RMB 1,872,620 million at the end of 2023, reflecting an increase of 15.1%[22] - The total equity attributable to shareholders of the parent company increased to RMB 273,334 million from RMB 249,586 million at the end of 2023, an increase of 9.5%[22] Revenue Streams - The insurance service revenue for the first three quarters of 2024 was RMB 209,409 million, a 2.3% increase year-over-year[10] - The life insurance segment reported a revenue of RMB 62,345 million, a decrease of 2.5% compared to the previous year[10] - Taiping Life achieved a premium income of RMB 230.06 billion in the first three quarters of 2024, a year-on-year increase of 3.3%[11] - New business value for Taiping Life reached RMB 14.24 billion, growing by 37.9% year-on-year, with a new business value margin of 20.1%, up by 6.2 percentage points[11] - The agent channel generated a premium income of RMB 179.15 billion, up 4.1% year-on-year, with new premium income of RMB 33.83 billion, increasing by 16.3%[12] - The bancassurance channel reported a premium income of RMB 34.73 billion, a 6.2% increase year-on-year, while new premium income decreased by 18.4% to RMB 24.02 billion[13] - Taiping Property & Casualty Insurance recorded a premium income of RMB 159.82 billion, a 7.7% increase year-on-year, with motor insurance premiums at RMB 78.13 billion, up 3.3%[15] Investment Performance - The total investment assets of the group reached RMB 2,584.28 billion, a 14.9% increase from the end of the previous year[17] - The net investment return rate for the first three quarters of 2024 was 2.9%, a decrease of 0.1 percentage points year-on-year, while the total investment return rate increased by 2.3 percentage points to 4.7%[18] - The company reported investment income of RMB 14,595 million, significantly higher than RMB 6,039 million in the previous year, showing a growth of 142.5%[23] - The company’s investment income for the first nine months of 2024 was RMB 9,617 million, a decrease of 8.1% from RMB 10,464 million in the same period of 2023[28] Cash Flow and Financing - Operating cash flow for the first nine months of 2024 reached RMB 128,747 million, an increase of 15.9% compared to RMB 110,992 million in the same period of 2023[25] - The company reported a net increase in cash and cash equivalents of RMB 25,415 million for the first nine months of 2024, compared to a net decrease of RMB 13,032 million in the same period of 2023[25] - The company’s cash flow from financing activities generated a net cash inflow of RMB 24,031 million in the first nine months of 2024, compared to a net cash outflow of RMB 24,193 million in the same period of 2023[25] - Total cash outflow from financing activities was RMB (10,565) million, compared to RMB (13,796) million in the previous year[29] - The company paid RMB 9,828 million in dividends and interest, slightly up from RMB 9,823 million in the same period last year[29] Workforce and Development Focus - The average core workforce in the agent channel was 58,000, a year-on-year increase of 2.4%, with a monthly average first-year premium per person of RMB 61,000, up 15.0%[12] - The company is focusing on sustainable high-quality development and enhancing risk management services, particularly in agricultural insurance products[15]

Financial Performance - Operating revenue for Q3 2024 reached RMB 115,930 million, an increase of 44.2% compared to Q3 2023[3] - Net profit for Q3 2024 was RMB 13,178 million, reflecting a significant increase of 173.6% year-over-year[3] - Net profit excluding non-recurring gains and losses for Q3 2024 was RMB 13,173 million, up 174.2% from the same period last year[3] - Basic earnings per share for Q3 2024 were RMB 1.37, up 173.6% year-over-year[3] - Diluted earnings per share for Q3 2024 were also RMB 1.37, reflecting the same growth rate as basic earnings[3] - Net profit for the group reached RMB 238.31 billion, representing a significant year-on-year growth of 65.5%[10] - Net profit attributable to shareholders of the parent company increased to RMB 38,310 million, up 65.3% from RMB 23,149 million year-over-year[24] - Total comprehensive income for the first nine months of 2024 was RMB 34,626 million, compared to RMB 18,458 million in the same period of 2023, representing an increase of 87.5%[24] Assets and Liabilities - Total assets as of September 30, 2024, amounted to RMB 2,684,461 million, representing a 14.5% increase from December 2023[3] - Total liabilities rose to RMB 2,384,487 million in 2024, compared to RMB 2,076,258 million in 2023[23] - Insurance contract liabilities increased significantly to RMB 2,155,399 million in 2024 from RMB 1,872,620 million in 2023[23] - Shareholders' equity at the end of Q3 2024 was RMB 273,334 million, a 9.5% increase compared to the end of 2023[3] - Shareholders' equity totaled RMB 299,974 million as of September 30, 2024, compared to RMB 267,704 million at the end of 2023[23] - Cash and cash equivalents increased to RMB 38,122 million in 2024 from RMB 31,455 million in 2023[22] - Total assets increased slightly to RMB 144,392 million as of September 30, 2024, compared to RMB 143,846 million at the end of 2023, reflecting a growth of 0.4%[26] Revenue and Premium Income - For the first three quarters of 2024, the company achieved insurance service revenue of RMB 209.41 billion, a year-on-year increase of 2.3%[10] - The life insurance segment reported a premium income of RMB 230.06 billion, up 3.3% year-on-year, while new business value surged by 37.9% to RMB 14.24 billion[11] - The agent channel generated a premium income of RMB 179.15 billion, reflecting a year-on-year increase of 4.1%, with new premium income rising by 16.3% to RMB 33.83 billion[12] - The property insurance segment recorded a premium income of RMB 159.82 billion, a year-on-year growth of 7.7%, with motor vehicle insurance contributing RMB 78.13 billion, up 3.3%[16] - The company received cash from insurance premiums totaling RMB 374,107 million, up from RMB 349,121 million, reflecting a growth of 7.2%[25] Investment Performance - The company’s total investment assets reached RMB 2,584.28 billion, an increase of 14.9% compared to the previous year[17] - The net investment yield for the company was 2.9%, a slight decrease of 0.1 percentage points year-on-year, while the total investment return rate improved by 2.3 percentage points to 4.7%[17] - Total investment return rate increased to 4.7% in 2024 from 2.4% in 2023, representing a rise of 2.3 percentage points[19] - Investment income surged to RMB 14,595 million, compared to RMB 6,039 million in the previous year, marking an increase of 142.5%[24] - Investment income for the first nine months of 2024 was RMB 9,617 million, down 8.1% from RMB 10,464 million in the same period of 2023[28] Cash Flow - The net cash flow from operating activities for the first nine months of 2024 was RMB 128,747 million, an increase of 16.0% year-over-year[3] - Cash flow from operating activities generated RMB 128,747 million, an increase of 16.0% from RMB 110,992 million in the same period last year[25] - Cash flow from investing activities showed a net outflow of RMB 127,299 million, compared to a net outflow of RMB 100,072 million in the previous year[25] - The company reported a cash flow from operating activities net outflow of RMB 921 million for the first nine months of 2024, compared to an outflow of RMB 883 million in the same period of 2023[29] - Cash flow from investing activities generated a net inflow of RMB 10,339 million in the first nine months of 2024, down 32.4% from RMB 15,272 million in the same period of 2023[29] Shareholder Information - The company reported a total of 94,693 shareholders at the end of the reporting period, with a notable increase in the number of foreign institutional shareholders[8] Strategic Focus - The company is focusing on sustainable high-quality development and enhancing risk management services, particularly in the agricultural insurance sector[15] - The company’s new product development and market expansion strategies are aimed at improving service quality and customer experience in the life insurance sector[11] - The company aims to enhance its market expansion strategies and product development in the upcoming quarters[20] - Future outlook includes a focus on new technologies and potential mergers and acquisitions to drive growth[20]

证券代码：601601 证券简称：中国太保 公告编号：2024-052 重要提示 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 会议召开时间：2024 年 10 月 30 日（星期三）18:00-19:00 会议召开方式：网络直播 网络直播接入方式：投资者可通过链接 （https://webcast.roadshowchina.cn/YU4rS0twQTVNaXhyWnpOan Vvd2kydz09）进入直播页面 投资者可于 2024 年 10 月 26 日（星期六）0:00 前将相关问题通过 电子邮件的形式发送至本公司投资者关系邮箱 ir@cpic.com.cn。本 公司将会在 2024 年第三季度业绩说明会（以下简称"业绩说明 会"）上对投资者普遍关注的问题进行回答。 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国太平洋保险（集团）股份有限公司 关于召开2024年第三季度业绩说明会的公告 重要内容提示： 一、业绩说明会类型 为了便于广大投资者更全面深入地了解本公司 2024 年第三季度 业绩和经营情况，本公司将于 2024 年 10 月 30 日 18:00-1 ...

证券代码：601601 证券简称：中国太保 公告编号：2024-051 重要提示 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国太平洋保险（集团）股份有限公司 保费收入公告 于 2024 年 1 月 1 日至 2024 年 9 月 30 日期间，本公司子公司中国 太平洋人寿保险股份有限公司累计原保险保费收入为人民币 2,095.93 亿元，同比增长 2.4%，本公司子公司中国太平洋财产保险股份有限公 司累计原保险保费收入为人民币 1,598.19 亿元，同比增长 7.7%。 上述累计原保险保费收入数据未经审计，提请投资者注意。 特此公告。 中国太平洋保险（集团）股份有限公司董事会 2024 年 10 月 17 日 注： 1、原保险保费收入数据根据中华人民共和国财政部《企业会计准则第 25 号—原保险合同》（财会〔2006〕 3 号）及《保险合同相关会计处理规定》（财会〔2009〕15 号）编制。 2、中国太平洋财产保险股份有限公司累计原保险保费收入为包含其子公司太平洋安信农业保险股份有限公 司的合并数据。 ...

中 國 太 平 洋 保 險（集 團）股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）茲 通 告謹定於2024年10月30日（星 期 三）舉 行 董 事 會 會 議，以 審 議 及 批 准 本 公 司截至2024年9月30日 止 九 個 月 之 第 三 季 度 業 績 及 其 發 佈，並 處 理 其 他 有 關 事 項。 承董事會命 中 國 太 平 洋 保 險（集 團）股 份 有 限 公 司 傅 帆 董事長 香 港，2024年10月16日 於 本 公 告 日 期，本 公 司 執 行 董 事 為 傅 帆 先 生 和 趙 永 剛 先 生；非 執 行 董 事 為 黃 迪 南 先 生、王 他 竽 先 生、陳 然 先 生、周 東 輝 先 生、謝 維 青 先 生、路 巧 玲 女 士、蔡 強 先 生 和John Robert DACEY先 生；和 獨 立 非 執 行 董 事 為 劉 曉 丹 女 士、林 婷 懿 女 士、羅 婉 文 女 士、金 弘 毅 先 生 和 姜 旭 平 先 生。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 ...

Investment Rating - The investment rating for the company is "Buy" [2] Core Insights - The company expects a significant increase in net profit attributable to shareholders for the first three quarters of 2024, projected to be between 37 billion to 39.4 billion CNY, representing a year-on-year increase of approximately 60% to 70% [2][3] - The substantial growth in net profit is primarily driven by the rise in equity markets, which has led to a significant increase in investment income [3] - The new business value (NBV) is expected to grow by 37.7% year-on-year for the first three quarters of 2024, indicating an improvement in product structure and channel integration [4] - The company's combined ratio (COR) is projected to be 97.0% for the first three quarters of 2024, showing a slight improvement compared to the first half of 2024 [4] Financial Performance Summary - The company anticipates total revenue of 383.9 billion CNY for 2024, an increase from the previous estimate of 378 billion CNY [5] - The expected net profit attributable to shareholders for 2024 is revised to 42.4 billion CNY, up from 37.8 billion CNY [5] - Earnings per share (EPS) for 2024 is projected to be 4.41 CNY, an increase from the previous estimate of 3.93 CNY [5] - The price-to-earnings value (PEV) for 2024 is expected to be 0.65, with projections of 0.61 and 0.58 for 2025 and 2026 respectively [5]

Investment Rating - The investment rating for China Pacific Insurance (601601.SH) is maintained at "Buy" [2][6]. Core Views - The company is expected to achieve a significant year-on-year increase in net profit for the first three quarters of 2024, estimated between 37 billion to 39.4 billion yuan, representing a growth of approximately 60% to 70% [6]. - The strong performance is attributed to the recovery in equity markets, leading to substantial growth in investment income, which is expected to drive net profit higher than previously anticipated [6]. - The report forecasts a robust growth trajectory for the company's new business value (NBV) and embedded value (EV) over the next three years, with projected increases of 35.2%, 16.9%, and 10.9% for NBV from 2024 to 2026 [6]. Financial Summary - The total market capitalization of China Pacific Insurance is approximately 360.28 billion yuan, with a circulating market value of about 256.35 billion yuan [2]. - The company's return on equity (ROE) is projected to reach 19.0% in Q3 2024, reflecting a year-on-year increase of about 34% [6]. - The current dividend yield (TTM) stands at 2.72%, with the stock price corresponding to a price-to-embedded value (PEV) of 0.4, 0.3, and 0.3 times for the years 2024 to 2026 [6][7]. Performance Metrics - The insurance service revenue is expected to grow from 249.75 billion yuan in 2024 to 339.60 billion yuan by 2026, with a year-on-year growth rate of 11.0% in 2025 and 9.3% in 2026 [7]. - The embedded value is projected to increase from 519.62 billion yuan in 2024 to 774.98 billion yuan by 2026, with a year-on-year growth rate of 17.3% in 2025 and 11.7% in 2026 [7]. - The net profit attributable to shareholders is forecasted to rise from 47.78 billion yuan in 2024 to 71.38 billion yuan in 2026, with a significant year-on-year growth of 75.3% in 2024 and 30.2% in 2025 [7].