Financial Performance - The total insurance service revenue for the year ended December 31, 2024, was RMB 537,709 million, an increase of 6.7% from RMB 503,900 million in 2023[4]. - Net profit for the year ended December 31, 2024, reached RMB 56,781 million, representing a significant increase of 84.5% compared to RMB 30,811 million in 2023[4]. - Basic earnings per share for the year ended December 31, 2024, were RMB 0.95, up from RMB 0.50 in 2023, reflecting an increase of 90%[4]. - Total operating income for the year ended December 31, 2024, was RMB 622,220 million, compared to RMB 553,467 million in 2023, marking a growth of 12.4%[4]. - The total comprehensive income for the year ended December 31, 2024, was RMB 35,291 million, compared to RMB 19,382 million in the previous year, indicating an increase of about 82%[10]. - The company declared dividends to shareholders amounting to RMB 9,685 million for the year ended December 31, 2024, compared to RMB 7,341 million in the previous year, representing an increase of approximately 32%[10]. Assets and Liabilities - The total assets as of December 31, 2024, amounted to RMB 1,766,321 million, an increase from RMB 1,556,682 million in 2023, indicating a growth of 13.4%[7]. - The total liabilities as of December 31, 2024, were RMB 1,398,900 million, up from RMB 1,223,779 million in 2023, reflecting an increase of 14.3%[8]. - The total reserves as of December 31, 2024, were RMB 224,642 million, up from RMB 198,982 million as of December 31, 2023, marking an increase of about 12.9%[11]. - The equity attributable to non-controlling interests was RMB 98,555 million as of December 31, 2024, compared to RMB 82,682 million in the previous year, representing an increase of approximately 19.1%[10]. Investment Performance - The company reported a net investment income of RMB 35,878 million for the year ended December 31, 2024, a substantial increase from RMB 1,407 million in 2023[4]. - The total investment income for 2024 reached 82.163 billion yuan, representing an 86.2% year-on-year increase, while net investment income was 57.318 billion yuan, a decrease of 1.9%[162]. - The total investment return rate for 2024 was 5.6%, up by 2.3 percentage points compared to the previous year, while the net investment return rate was 3.9%, down by 0.6 percentage points[162]. Business Segments - The property insurance segment generated revenue of CNY 486,792 million in 2024, up from CNY 458,806 million in 2023, reflecting a growth of about 6.1%[25][26]. - The life insurance segment reported revenue of CNY 22,384 million in 2024, compared to CNY 18,204 million in 2023, marking an increase of approximately 23.9%[25][26]. - The health insurance segment's revenue rose to CNY 27,217 million in 2024 from CNY 25,619 million in 2023, indicating a growth of about 6.2%[25][26]. Cash Flow - The net cash inflow from operating activities for 2024 was RMB 87,990 million, compared to RMB 70,549 million in 2023, marking an increase of 24.7%[12]. - The net cash used in investing activities for 2024 was RMB 77,599 million, compared to RMB 70,927 million in 2023, indicating an increase of 9.4%[12]. - The company reported a net increase in cash and cash equivalents of RMB 15,251 million for 2024, compared to a decrease of RMB 11,861 million in 2023[13]. Risk Management and Governance - The company has established a consumer rights protection department to enhance consumer protection strategies, with over 1.7 million dedicated services provided to elderly customers through its customer service hotline[58]. - The company emphasizes transparency by announcing the publication of its annual report[192]. - The governance structure includes a mix of executive and independent directors, which may enhance decision-making processes[192]. Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to enhance service offerings in the upcoming fiscal year[3]. - The company aims to enhance its investment management capabilities and explore sustainable development models to achieve stable investment returns and asset growth[174]. - The company is committed to digital transformation and will support the construction of five regional centers to enhance customer service and experience[175].
中国人民保险集团(01339) - 2024 - 年度业绩