2022-03-27 16:00Company Performance - In 2021, China Pacific Insurance achieved significant milestones, marking its 30th anniversary and focusing on high-quality development amidst increasing external uncertainties[2] - The group's operating revenue for 2021 was RMB 440,643 million, representing a 9.5% increase from RMB 402,182 million in 2020[39] - The group's operating profit for 2021 reached RMB 35,346 million, up 13.5% from RMB 31,140 million in 2020[39] - The intrinsic value of the group increased to RMB 498,309 million in 2021, reflecting an 8.5% growth from RMB 459,320 million in 2020[40] - The total investment return rate for 2021 was 5.9%, a decrease of 0.2 percentage points from 6.1% in 2020[41] - The number of group customers reached 168,393 thousand by the end of 2021, marking a 13.1% increase from 148,938 thousand in 2020[41] - The net profit attributable to shareholders was 26,834 million, reflecting a growth of 9.2%[42] - The group reported a total investment income of RMB 31,140 million for 2020, which was a significant contributor to the overall profit growth in 2021[39] - The company ranked 158th in the 2021 Fortune Global 500, improving by 35 places from the previous year[47] Customer Engagement and Services - The "Tai Bao Service" initiative enhanced service capabilities, with 800 managers taking on the role of "service officers" to improve customer experience and value[3] - The "Tai Bao Blue Print" health service model expanded to over 2,800 public hospitals across 400 cities, benefiting 18 million customers[3] - The "Tai Yi Guan Jia" health service brand was launched, marking a substantial step in building professional medical service capabilities[3] - By the end of 2021, the "Tai Yi Guan Jia" service had over 1 million registered users and served more than 130,000 members, demonstrating the effectiveness of the health management service system[7] - The company aims to create a closed-loop service for health management, integrating online and offline resources, including internet hospitals and local medical institutions[6] - The online penetration rate for individual customers and the renewal rate for auto insurance continued to improve, indicating enhanced customer engagement and operational efficiency[1] - The company launched 10 new elderly care community projects, with communities in Chengdu and Dali officially opening, supporting the core insurance business[1] Technological Advancements - China Pacific Insurance has established a technology subsidiary to drive digital transformation, focusing on technology infrastructure and public service platforms[15] - The Wuhan R&D center has been operational since January 2021, with a team of 600 technology professionals working on 26 system developments[15] - The company is committed to building a smart elderly care community, leveraging advanced technology and 5G applications to enhance living conditions and safety[6] - The company plans to establish a comprehensive internet business model to enhance high-quality development in internet insurance services[116] ESG and Social Responsibility - The company is committed to ESG management, with the board serving as the highest decision-making body for ESG initiatives[16] - The company has integrated ESG principles into its operations, focusing on sustainable insurance practices and green investments[21] - The company has actively participated in carbon neutrality initiatives, providing comprehensive solutions for events like the fourth China International Import Expo[21] - The company launched the "Guarding Memories" public welfare project focusing on cognitive impairment, aiming to enhance care services for the elderly[25] - The company has committed to building ecological public welfare forests, with a total area of 1,500 acres established in Qinghai[21] - The company has provided a total insurance coverage of 2.6 trillion yuan for four sessions of the China International Import Expo, contributing to the event's "zero carbon" goal[183] - The company’s total public welfare donations in 2021 amounted to 78.21 million yuan, supporting various social service activities[186] Financial Management and Investment - The company is focusing on enhancing its asset-liability management and optimizing asset allocation to capture investment opportunities in new energy and green finance[1] - The total assets at the end of 2021 amounted to RMB 1,946,164 million, representing a 9.9% increase from RMB 1,771,004 million at the end of 2020[66] - The investment assets as of December 31, 2021, were RMB 1,812,069 million, compared to RMB 1,648,007 million at the end of 2020[72] - The company achieved a net investment income of RMB 73.06 billion in 2021, a year-on-year increase of 8.8%[158] - The total investment income reached RMB 93.18 billion, reflecting a 10.9% year-over-year growth, driven by gains from securities trading and fixed income investments[158] Governance and Management - The board of directors has maintained strategic focus, leading to steady growth in overall performance and comprehensive strength[16] - The company aims to serve as a model for corporate governance in China, combining international principles with domestic regulatory requirements[20] - The company has established a modern governance system with a focus on risk compliance and internal control[44] - The company has a board of directors with 15 members, of which 87% are external directors and 27% are female directors, ensuring effective protection of shareholder rights[189] - The company has implemented a series of data security management measures, ensuring no regulatory penalties were incurred in 2021 for violations of customer information management regulations[194] Product Development and Innovation - The company launched new products, including a comprehensive lifelong critical illness insurance, covering over 500,000 customers with a total coverage amount exceeding RMB 900 billion[99] - The company aims to enhance its health insurance capabilities and develop innovative health insurance products[116] - The company is actively exploring new models and enhancing core capabilities to solidify its development foundation[90] - The company is focused on expanding its pension business and integrating it into a broader "insurance + health + pension" ecosystem[164] Community and Elderly Care Initiatives - The company plans to continue its efforts in community engagement and support for the elderly, emphasizing the importance of caring for today's seniors for a better future[27] - The company has completed initial screenings for 50,000 elderly individuals potentially suffering from cognitive impairment, with 1,503 undergoing secondary assessments[27] - A total of 276 volunteers have been trained to conduct community empowerment training across 28 sessions[27] - The first "Tai Bao Blue Memory Corner Brain Health Promotion Classroom" was established in a community in Shanghai on September 28, coinciding with World Alzheimer's Day[27]