2022-08-28 16:00Financial Performance - The company reported a total revenue of CNY 100 billion for the first half of 2022, representing a year-on-year increase of 15%[5]. - The net profit attributable to shareholders reached CNY 20 billion, up 10% compared to the same period last year[5]. - The group's operating revenue reached RMB 255,114 million, an increase of 1.0% year-on-year[10]. - The net profit attributable to shareholders of the parent company was RMB 13,301 million, a decrease of 23.1% compared to the previous year[11]. - Total profit for the first half of 2022 decreased by 31.6% to RMB 14,636 million, down from RMB 21,400 million in the first half of 2021[30]. - The company's net profit for the first half of 2022 was CNY 8.860 billion, a decrease of 31.2% compared to CNY 12.873 billion in the same period of 2021[74][75]. - The group's net profit was RMB 13.30 billion, a year-on-year decrease of 23.1%, while operating profit increased by 9.9% to RMB 20.10 billion[45]. Assets and Investments - The total assets of the company increased to CNY 1 trillion, reflecting a growth of 8% year-on-year[5]. - The total investment assets of the group increased to RMB 2,741,039 million, a growth of 5.4%[10]. - The company's asset management scale grew to RMB 2.741 trillion, enhancing its market competitiveness[20]. - The group's investment assets reached RMB 27,410.39 billion, an increase of 5.4% from the end of the previous year[48]. - The company's total investment assets reached RMB 1,941,167 million as of June 30, 2022, reflecting a 7.1% increase compared to the end of the previous year[109]. - Fixed income investments accounted for 76.4% of total investment assets, with bond investments making up 40.5%, an increase of 2.3 percentage points from the previous year[111]. Customer Growth and Engagement - The number of insurance policies in force grew by 12% to 50 million, indicating strong customer acquisition efforts[5]. - The number of customers reached 170,134 thousand, an increase of 1,741 thousand year-on-year[10]. - The total number of customers increased to 170 million by June 30, 2022, with an average of 2.32 policies per individual customer[20]. - The company launched the "Taiyi Housekeeper" service, providing 24/7 online consultation, with over 2.8 million registered users[20]. - The company accumulated 160,000 internet customers, tripling the number from the same period last year[81]. Product Development and Innovation - New product lines, including digital insurance solutions, are expected to contribute an additional CNY 5 billion in revenue by the end of 2023[5]. - The company is focusing on enhancing its health insurance services and building a health service ecosystem, with significant progress in customized health protection capabilities[12]. - The company launched new health insurance products, covering over 270,000 customers with a total coverage amount of CNY 48 billion[65]. - The company plans to enhance its core capabilities in health insurance, focusing on new products, channels, and technologies[81]. Risk Management and Compliance - The company faces various risks, including market and credit risks, which are detailed in the performance review section[6]. - The company has implemented a new risk management system to ensure compliance and effective risk control[14]. - The company emphasizes a "prudent" risk preference in response to emerging risks such as COVID-19 and climate change, aiming to balance growth and risk prevention[147]. - The company plans to enhance risk management through improved governance, innovative management tools, and upgraded risk management information systems[147]. Strategic Plans and Market Expansion - The company plans to expand its market presence in Southeast Asia, targeting a 20% increase in market share by 2025[5]. - The company is actively pursuing strategic partnerships with leading firms to enhance service offerings and create synergies across different industries[24]. - The company aims to enhance its development momentum by focusing on "big health," "big data," and "big regions" as key areas for growth[145]. - The company plans to transform its development model from sales-driven to customer demand-driven, aiming for high-quality development[145]. Corporate Governance and Reporting - The board of directors confirmed that all financial reports are accurate and complete, with no significant omissions[6]. - The company has appointed Ernst & Young Hua Ming as the auditor for the 2022 financial report, following the retirement of PwC after eight years of service[198]. - The company will uniformly adopt Chinese accounting standards for financial reporting starting in 2022, aiming to enhance efficiency and reduce disclosure costs[200].