NCI(601336)2024-10-30 09:37Revenue and Profit Performance - Revenue for the reporting period reached RMB 51,365 million, a 297.8% increase compared to the same period last year[3] - Net profit attributable to shareholders of the parent company for the reporting period was RMB 9,597 million, with a year-to-date increase of 116.7% to RMB 20,680 million[3] - Net profit attributable to parent company shareholders reached RMB 20,680 million for the first nine months of 2024, compared to RMB 9,542 million in the same period of 2023[28] - Total revenue for the first nine months of 2024 was RMB 106,956 million, a significant increase from RMB 61,855 million in the same period of 2023[28] - Basic and diluted earnings per share attributable to shareholders of the parent company for the reporting period were both RMB 3.08, with a year-to-date increase of 116.7% to RMB 6.63[4] - Basic earnings per share for the 9 months ended September 30, 2024, were RMB 6.63, compared to RMB 3.06 for the same period in 2023[29] - Diluted earnings per share for the 9 months ended September 30, 2024, were RMB 6.63, compared to RMB 3.06 for the same period in 2023[29] Investment Performance - The company's investment performance improved significantly due to the rise in the capital market, contributing to the increase in net profit[10] - Total investment assets reached RMB 1,606.706 billion as of September 30, 2024, with an annualized total investment yield of 6.8% and a comprehensive investment yield of 8.1%[23] - Fair value change gains amounted to RMB 41,985 million for the first nine months of 2024, compared to a loss of RMB 2,862 million in the same period of 2023[28] - Investment income increased to RMB 5,134 million for the first nine months of 2024, up from RMB 211 million in the same period of 2023[28] - Expected credit impairment losses on debt investments and other debt investments reduced net profit attributable to parent company shareholders by RMB 1,076 million for the first nine months of 2024[28] - Impairment losses on long-term equity investments reduced net profit attributable to parent company shareholders by RMB 853 million for the first nine months of 2024[28] Insurance Premiums - Original insurance premium income for the first nine months of 2024 was RMB 145.644 billion, a 1.9% increase year-over-year[19] - Long-term insurance first-year premium income for the first nine months of 2024 was RMB 34.147 billion, a 12.7% decrease year-over-year[19] - Renewal premium income for the first nine months of 2024 was RMB 108.226 billion, a 7.8% increase year-over-year[19] - Individual insurance channel premium income for the first nine months of 2024 was RMB 97.791 billion, a 1.3% increase year-over-year[22] - Bancassurance channel premium income for the first nine months of 2024 was RMB 45.309 billion, a 2.9% increase year-over-year[22] - Group insurance channel premium income for the first nine months of 2024 was RMB 2.544 billion, an 8.7% increase year-over-year[22] - Long-term insurance first-year premium income from the individual insurance channel for the first nine months of 2024 was RMB 12.415 billion, a 16.6% increase year-over-year[22] - Long-term insurance first-year premium income from the bancassurance channel for the first nine months of 2024 was RMB 21.553 billion, a 24.1% decrease year-over-year[22] - Long-term insurance first-year premium income from the group insurance channel for the first nine months of 2024 was RMB 179 million, an 84.5% increase year-over-year[22] Financial Position and Solvency - Core capital stood at RMB 144,045 million, with a core solvency adequacy ratio of 122.57% and a comprehensive solvency adequacy ratio of 225.20%[9] - Total assets increased by 18.8% to RMB 1,667,028 million compared to the end of the previous year[4] - Total assets increased to RMB 1,667,028 million as of September 30, 2024, compared to RMB 1,403,257 million at the end of 2023[25] - Insurance contract liabilities rose to RMB 1,330,767 million as of September 30, 2024, up from RMB 1,146,497 million at the end of 2023[26] - Total liabilities rose to RMB 1,575,961 million as of September 30, 2024, compared to RMB 1,298,165 million at the end of 2023[26] - Shareholders' equity decreased to RMB 91,067 million as of September 30, 2024, down from RMB 105,092 million at the end of 2023[27] Cash Flow and Liquidity - Operating cash flow for the year-to-date period was RMB 88,788 million, an 11.5% increase compared to the same period last year[3] - Net cash flow from operating activities for the 9 months ended September 30, 2024, was RMB 88,788 million, up from RMB 79,611 million in the same period in 2023[30] - Net cash flow from investing activities for the 9 months ended September 30, 2024, was negative RMB 167,357 million, compared to negative RMB 123,824 million in the same period in 2023[30] - Net cash flow from financing activities for the 9 months ended September 30, 2024, was RMB 80,177 million, up from RMB 43,553 million in the same period in 2023[31] - Cash and cash equivalents at the end of September 2024 were RMB 23,447 million, up from RMB 16,983 million at the end of September 2023[32] - Net increase in cash and cash equivalents for the 9 months ended September 30, 2024, was RMB 1,659 million, compared to a net decrease of RMB 603 million in the same period in 2023[32] Shareholder and Equity Information - The top shareholder, Central Huijin Investment Ltd., holds 31.34% of the company's shares[13] - Weighted average return on equity attributable to shareholders of the parent company was 10.6% for the reporting period and 21.0% for the year-to-date period[4] - Total comprehensive income attributable to minority shareholders for the 9 months ended September 30, 2024, was RMB 3 million, compared to RMB 2 million in the same period in 2023[29] - Total comprehensive income attributable to parent company shareholders for the 9 months ended September 30, 2024, was negative RMB 11,361 million, compared to negative RMB 2,620 million in the same period in 2023[29] Non-Recurring Items - Non-recurring gains and losses for the reporting period amounted to a loss of RMB 10 million, with a year-to-date loss of RMB 33 million[6]