2022-04-27 09:04Financial Performance - Net profit attributable to shareholders decreased by 46.9% to RMB 15,178 million from RMB 28,589 million in the same period last year[2] - Operating revenue fell by 8.0% to RMB 343,777 million, down from RMB 373,458 million year-on-year[2] - Basic and diluted earnings per share dropped by 46.9% to RMB 0.54 from RMB 1.01 in the same period last year[2] - Weighted average return on equity decreased by 3.01 percentage points to 3.22%[2] - The company experienced significant market fluctuations affecting investment income, contributing to the decline in net profit[5] - The net profit attributable to shareholders in Q1 2022 was RMB 15.18 billion, a decline of 46.9% year-on-year due to market volatility and a high base from the previous year[9] - The total operating revenue for Q1 2022 was RMB 343,777 million, a decrease of 7.95% compared to RMB 373,484 million in Q1 2021[12] - The net profit attributable to shareholders of the parent company for Q1 2022 was RMB 15,178 million, down 46.96% from RMB 28,585 million in Q1 2021[13] - The basic earnings per share for Q1 2022 was RMB 0.54, compared to RMB 1.01 in Q1 2021, reflecting a decline of 46.96%[13] Assets and Liabilities - Total assets reached RMB 4,915,845 million, an increase of 0.5% compared to the end of the previous year[2] - The total liabilities as of March 31, 2022, amounted to RMB 4,442,455 million, an increase of 0.86% from RMB 4,404,427 million as of December 31, 2021[11] - The total equity attributable to shareholders of the parent company decreased to RMB 465,108 million from RMB 478,585 million, a decline of 2.43%[11] - The total liabilities and equity as of March 31, 2022, reached RMB 4,915,845 million, an increase from RMB 4,891,085 million as of December 31, 2021[11] Investment and Income - The company's total investment income for Q1 2022 was RMB 44.56 billion, with a simple annualized total investment return rate of 3.88%[9] - The investment income for Q1 2022 was RMB 53,991 million, down 26.49% from RMB 73,484 million in Q1 2021[12] - The company's investment assets totaled RMB 4,717.68 billion as of the end of Q1 2022, reflecting a focus on long-term and value investments[8] Cash Flow - Net cash flow from operating activities increased by 8.1% to RMB 174,337 million, compared to RMB 161,232 million in the previous year[2] - The net cash flow from operating activities for the company in Q1 2022 was RMB 179,572 million, compared to RMB 165,104 million in Q1 2021, indicating a growth of approximately 8.9%[16] - Cash inflow from investment activities for the group in Q1 2022 was RMB 392,690 million, significantly higher than RMB 212,923 million in Q1 2021, representing an increase of about 84.5%[17] - The net cash flow from investment activities for the group in Q1 2022 was RMB 14,315 million, recovering from a negative RMB 119,920 million in Q1 2021[17] - The group's cash inflow from financing activities in Q1 2022 was RMB 21,899 million, compared to RMB 28,401 million in Q1 2021, showing a decrease of approximately 22.1%[19] - The total cash and cash equivalents at the end of Q1 2022 amounted to RMB 82,339 million, up from RMB 75,830 million at the end of Q1 2021, reflecting an increase of about 8.3%[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 150,895, with the top ten shareholders holding 68.37% of the shares[6] - China Life Insurance Group Company held 68.37% of the shares, amounting to 19,323,530,000 shares[6] Business Operations - In Q1 2022, the company achieved premium income of RMB 315.01 billion, a decrease of 2.7% year-on-year, with new business premiums at RMB 100.90 billion, down 1.5%[8] - The total insurance business income for Q1 2022 was RMB 315,011 million, a decrease of 2.73% compared to RMB 323,892 million in Q1 2021[12] - The first-year regular premium income was RMB 65.37 billion, down 4.3% year-on-year, showing improvement compared to the same period in 2021[8] - The short-term insurance premium income increased by 3.5% year-on-year, indicating growth in this segment[8] - The new business value decreased by 14.3% year-on-year in Q1 2022, highlighting ongoing pressures in business development[8] - The company’s sales force consisted of 846,000 personnel, with a slight decrease in size but stable quality indicators[8] Governance and Announcement - The board of directors of China Life Insurance Co., Ltd. consists of executive directors, non-executive directors, and independent non-executive directors[20] - The announcement is published in both Chinese and English, with the Chinese version prevailing in case of discrepancies[20] - The company secretary is Xing Jiawei, responsible for the announcement[20] - The announcement date is April 27, 2022, indicating the timing of the information[20] - The board includes notable members such as Su Hengxuan and Li Mingguang as executive directors[20] - The presence of independent non-executive directors like Tang Xin and Liang Aishi highlights governance structure[20] - The company is based in Beijing, China, which is relevant for market positioning[20] - The announcement does not provide specific financial data or performance metrics[20] - There are no details on future outlook, product development, or market expansion strategies in the announcement[20] - The document serves primarily as a formal notification regarding the board composition[20]