NCI(601336)2025-03-27 10:45Financial Performance - The company achieved a total operating revenue of CNY 170.51 billion in 2024, representing a year-on-year growth of 2.8%[26]. - The net profit attributable to shareholders was CNY 26.23 billion, marking a remarkable growth of 201.1% year-on-year, reaching a historical high[26]. - The company achieved original insurance premium income of 170.5 billion yuan in 2024, with total assets reaching 1.69 trillion yuan, indicating stable overall operations[41]. - The company reported a total investment income of 16,306 million RMB, a substantial recovery from a loss of 3,775 million RMB in 2023[71]. - The total investment return rate improved to 5.8%, up by 4.0 percentage points from 1.8% in 2023[114]. - The company’s basic earnings per share rose to 8.41 RMB, marking a 201.4% increase from 2.79 RMB in 2023[61]. - The company’s total equity attributable to shareholders decreased by 8.4% to 96,240 million RMB, primarily due to increased losses recognized in other comprehensive income[60]. - The company’s operating revenue for 2024 reached 132,555 million RMB, an increase of 85.3% compared to 71,547 million RMB in 2023[59]. - Net profit attributable to shareholders of the parent company surged to 26,229 million RMB, reflecting a 201.1% increase from 8,712 million RMB in the previous year[59]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.99 per share for the year-end, totaling CNY 62.08 billion, which, along with the mid-year dividend of CNY 0.54 per share, brings the total cash dividends for 2024 to CNY 78.93 billion, accounting for approximately 30.1% of the net profit attributable to shareholders[5]. - The company plans to distribute a total cash dividend of CNY 78.93 billion for 2024, an increase of 197.6% compared to the previous year[25]. - The company plans to distribute a total dividend of CNY 7.893 billion for the year, accounting for 30.1% of net profit attributable to shareholders[53]. Risk Management - The company has identified several risks, including market risk, credit risk, insurance risk, operational risk, reputational risk, strategic risk, and liquidity risk, and has implemented measures to manage and control these risks effectively[5]. - The company anticipates facing risks due to complex international environments and ongoing industry adjustments, necessitating continuous risk monitoring[148]. - The company will optimize its comprehensive risk management system to ensure effective operation and compliance with regulatory standards[148]. Corporate Governance - The financial report for 2024 has been audited by Deloitte Huayong, which issued a standard unqualified audit opinion[5]. - The company’s chairman and senior management have guaranteed the accuracy and completeness of the financial report[5]. - The company has no violations of decision-making procedures regarding external guarantees[5]. - The company has no instances of more than half of the directors being unable to ensure the authenticity of the report[5]. - The company is actively working on compliance with regulatory requirements regarding board member qualifications and appointments[187]. Product and Service Development - The company launched multiple service brands, including "新华尊" and "新华安," to enhance customer experience across various sectors[29][30]. - The company launched 58 new insurance products in 2024, enhancing its offerings in health, retirement, accident, medical, and wealth management insurance[92]. - The company has established a digital service chain that includes features like "digital human" product explanations and intelligent product recommendations, enhancing customer experience[37]. - The company has developed a collaborative model of "insurance + service + investment," managing nearly 2 trillion yuan in assets through its asset management platform[42]. Investment and Asset Management - The total investment assets increased to CNY 1,629.36 billion, up from CNY 1,345.48 billion in 2023, reflecting a strong growth in investment capabilities[18]. - The investment return rate for 2024 was reported at 5.8%, with a comprehensive investment return rate of 8.5%[28]. - The company plans to leverage its long-term capital advantages to support the real economy and enhance investment returns through strategic asset allocation[105]. - The company has established a service framework to support national strategies, with an investment scale of CNY 1,088.8 billion in the real economy[24]. Human Resources and Talent Development - The company launched the "XIN Generation" talent development project in 2024, resulting in a significant increase in the number of IDA members by over 100% year-on-year[33]. - The company’s board of directors has undergone several changes, including the appointment of new assistant presidents Liu Chen and Liu Zhiyong in early 2024[190]. Compliance and Regulatory Matters - The company does not face any non-operational fund occupation by controlling shareholders or related parties[5]. - The company has no violations of decision-making procedures regarding external guarantees[5]. - The company is in the process of finalizing the annual performance bonuses for employee representatives and senior management for 2024[190]. Market Position and Recognition - The company has been recognized as one of the top 50 most valuable insurance brands globally for 10 consecutive years and has received an "A2" financial strength rating from Moody's in 2024[39][45]. - The company emphasizes the importance of high-quality development in the insurance industry, aligning with national policies for sustainable growth[145].