2021-04-28 16:00Financial Performance - Net profit attributable to shareholders of the parent company was RMB 28,589 million, representing a 67.3% increase year-on-year[5]. - Operating revenue for the period was RMB 373,458 million, up 10.6% from the same period last year[5]. - Basic earnings per share increased to RMB 1.01, a rise of 68.3% compared to the previous year[5]. - The weighted average return on equity improved to 6.23%, up 1.99 percentage points from the previous year[5]. - The total comprehensive income for the group in Q1 2021 was RMB 17,581 million, compared to RMB 10,122 million in Q1 2020, marking a rise of approximately 73.5%[19]. - The net profit attributable to shareholders of the parent company for Q1 2021 was RMB 28,985 million, up from RMB 17,322 million in Q1 2020, reflecting a growth of about 67.5%[19]. Assets and Liabilities - Total assets reached RMB 4,469,985 million, an increase of 5.1% compared to the end of the previous year[4]. - The company’s total liabilities increased by 5.3% to RMB 3,995.04 billion, primarily due to the growth in insurance liability reserves[10]. - The equity attributable to shareholders of the parent company was RMB 467,747 million, an increase of 3.9% from the end of the previous year[4]. - The insurance contract liabilities, specifically life insurance liabilities, were RMB 2,994,175 million, up from RMB 2,768,584 million, marking an increase of 8.2%[17]. - The total investment assets reached RMB 4,282.19 billion, an increase of 4.5% from the end of 2020[8]. Cash Flow - Net cash flow from operating activities was RMB 161,232 million, an increase of 28.7% compared to the previous year[4]. - The company's cash and cash equivalents reached RMB 86,022 million, up from RMB 57,605 million year-over-year, indicating a growth of 49.2%[16]. - The net cash outflow from investment activities for the group was RMB 119,919 million, compared to RMB 56,555 million in Q1 2020, indicating a significant increase in outflows[21]. - The net increase in cash and cash equivalents for the group in Q1 2021 was RMB 28,405 million, compared to RMB 16,974 million in Q1 2020[23]. Premium Income and Investment - In Q1 2021, the company achieved premium income of RMB 323.89 billion, a year-on-year increase of 5.2%[8]. - The total investment income for Q1 2021 was RMB 65.11 billion, up 43.3% year-on-year, with an investment return rate of 6.44%[8]. - The group’s insurance business income for Q1 2021 was RMB 304,756 million, an increase from RMB 289,518 million in Q1 2020, representing a growth of about 5.3%[18]. - The long-term equity investments were valued at RMB 248,587 million, up from RMB 239,584 million, indicating a growth of 3.4%[16]. Strategic Initiatives - The company plans to continue implementing its "Revitalize China Life" strategy, emphasizing high-quality development and risk prevention[9]. - The company has plans for market expansion and new product development, focusing on enhancing its digital insurance offerings[15]. - The company’s sales force remained stable at 1.357 million, with a focus on quality improvement and effective management[8].