2023-10-26 09:15Financial Performance - Net profit attributable to shareholders of the parent company for Q3 2023 was RMB 53 million, a decrease of 99.1% year-on-year[2] - Operating revenue for Q3 2023 was RMB 155,738 million, down 9.8% from the same period last year[2] - Net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 111 million, a decline of 98.1% year-on-year[2] - Earnings per share (basic and diluted) for Q3 2023 was RMB 0.00, a decrease of 99.1% compared to the same period last year[5] - The weighted average return on equity decreased to 0.01%, down 1.20 percentage points year-on-year[5] - The company's net profit attributable to shareholders was RMB 16.209 billion, a year-on-year decrease of 47.8%[9] - Net profit for the first nine months of 2023 was RMB 17,302 million, down from RMB 32,176 million in 2022, indicating a decrease of about 46.3%[13] - The company’s total profit for the first nine months of 2023 was RMB 5,961 million, down from RMB 27,861 million in 2022, indicating a decrease of about 78.6%[13] - The company's operating profit for the first nine months of 2023 was RMB 31,657 million, a decrease of 47.8% compared to RMB 60,650 million in the same period of 2022[26] - Total profit for the first nine months of 2023 was RMB 31,391 million, down 48.0% from RMB 60,423 million in the same period of 2022[26] Revenue and Income - Total operating revenue for the first nine months of 2023 reached RMB 709,333 million, a slight increase from RMB 701,018 million in the same period of 2022, representing a growth of approximately 1.9%[12] - The company's operating revenue for the first nine months of 2023 was RMB 244,990 million, a decrease of 16.3% compared to RMB 292,967 million in the same period of 2022[25] - Investment income for the first nine months of 2023 was RMB 140,630 million, down from RMB 165,354 million in 2022, a decrease of about 15%[12] - Investment income significantly decreased to RMB 22,578 million in the first nine months of 2023, down 85.6% from RMB 156,921 million in the same period of 2022[25] - Insurance service income for the first nine months of 2023 was RMB 136,439 million, slightly down from RMB 137,385 million in the same period of 2022, indicating a decline of 0.7%[25] Assets and Liabilities - Total assets reached RMB 5,759,367 million, an increase of 9.7% compared to the end of the previous year[2] - The total amount of insurance liabilities, including life insurance and health insurance reserves, reached RMB 4,227,027 million, up from RMB 3,840,899 million, representing an increase of approximately 10.1%[11] - Total liabilities rose to RMB 5,307,899 million from RMB 4,806,863 million, indicating an increase of approximately 10.4%[11] - The total liabilities as of September 30, 2023, were RMB 5,156,021 million, an increase from RMB 4,635,095 million as of December 31, 2022, reflecting a growth of approximately 11.2%[24] - The company's total equity attributable to shareholders increased to RMB 441,878 million from RMB 436,169 million, showing a slight growth of 1.6%[11] - The total equity attributable to shareholders as of September 30, 2023, was RMB 474,739 million, an increase from RMB 366,021 million as of December 31, 2022, indicating a growth of 29.7%[24] Cash Flow - Cash flow from operating activities for the year-to-date period increased by 17.5% to RMB 339,383 million compared to the previous year[2] - The net cash flow from operating activities for the group in the first nine months of 2023 was RMB 339,383 million, an increase of 17.5% compared to RMB 288,829 million in the same period of 2022[17] - The total cash inflow from investment activities was RMB 1,116,800 million, up from RMB 1,065,440 million in the first nine months of 2022, reflecting a growth of 4.8%[19] - The net cash flow from investment activities showed a significant outflow of RMB 312,592 million, compared to an outflow of RMB 54,617 million in the same period last year[19] - Cash inflow from financing activities totaled RMB 24,139 million, a substantial increase from RMB 3,241 million in the first nine months of 2022[21] - The net cash flow from financing activities was RMB 2,676 million, recovering from a net outflow of RMB 174,362 million in the same period of the previous year[21] Investment and Premiums - In the first three quarters of 2023, the company's insurance business achieved premium income of RMB 578.799 billion, a year-on-year increase of 4.5%[8] - New single premium reached RMB 196.656 billion, growing by 14.8% year-on-year, with the first-year regular premium at RMB 105.982 billion, up 16.0% year-on-year[8] - The company's total investment income for the first three quarters was RMB 109.997 billion, with a total investment return rate of 2.81%[9] - Net investment income was RMB 148.340 billion, with a net investment return rate of 3.81%[9] - The company's investment income from associates and joint ventures was RMB 6,900 million, compared to RMB 6,352 million in 2022, showing an increase of approximately 8.6%[12] Shareholder Information - The total number of shareholders at the end of the reporting period was 111,032, with the largest shareholder holding 68.37%[6] - The company reported a retention rate of 0.88%, an increase of 0.14 percentage points year-on-year[8] - The sales force totaled 720,000, with individual insurance sales personnel at 660,000, showing a stable trend in team size[8] Other Financial Metrics - The core solvency adequacy ratio reached 161.25%, and the comprehensive solvency adequacy ratio was 232.68%, increasing by 17.66 and 25.90 percentage points respectively compared to the end of 2022[9] - The company aims to enhance customer service capabilities and strengthen digital iteration support while focusing on high-quality development[9] - The company reported a total operating expense of RMB 703,106 million for the first nine months of 2023, an increase from RMB 672,930 million in 2022, representing a growth of approximately 4.5%[12] - The company reported a tax expense of RMB 5,168 million for the first nine months of 2023, compared to a tax benefit of RMB (3,758) million in the same period of 2022[26]