2022-10-27 16:00Financial Performance - Net profit attributable to shareholders of the parent company for Q3 2022 was RMB 5,701 million, a decrease of 24.2% year-on-year [4]. - Net profit attributable to shareholders of the parent company for the first nine months of 2022 was RMB 31,117 million, a decline of 35.8% compared to RMB 48,486 million in the same period last year [7]. - The company's net profit attributable to shareholders was RMB 31.12 billion, a decrease of 35.8% year-on-year [12]. - The total operating income for the first nine months of 2022 was RMB 701,012 million, a decrease of 3.6% compared to RMB 727,785 million in the same period of 2021 [16]. - The net profit attributable to shareholders of the parent company for the first nine months of 2022 was RMB 31,117 million, down 35.5% from RMB 48,486 million in the same period of 2021 [16]. - The total comprehensive income attributable to shareholders of the parent company for the first nine months of 2022 was RMB (6,532) million, a significant decline from RMB 38,558 million in 2021 [17]. Earnings and Returns - Earnings per share (basic and diluted) for Q3 2022 was RMB 0.20, down 24.2% from RMB 0.27 in the same period last year [4]. - The weighted average return on equity for the first nine months of 2022 was 6.63%, down 3.83 percentage points from 10.46% in the previous year [7]. - The basic and diluted earnings per share for the first nine months of 2022 were RMB 1.10, down from RMB 1.72 in the same period of 2021, representing a decrease of approximately 36.0% [17]. Assets and Liabilities - Total assets reached RMB 5,128,085 million, an increase of 4.8% compared to the end of the previous year [3]. - The total liabilities as of September 30, 2022, amounted to RMB 4,665,971 million, an increase of 5.9% from RMB 4,404,427 million at the end of 2021 [14]. - The total equity attributable to shareholders of the parent company was RMB 453,446 million as of September 30, 2022, compared to RMB 478,585 million at the end of 2021, reflecting a decrease of 5.3% [14]. - The total liabilities and equity as of September 30, 2022, reached RMB 5,128,085 million, an increase of 4.8% from RMB 4,891,085 million at the end of 2021 [14]. Cash Flow - The net cash flow from operating activities for the first nine months of 2022 was RMB 288,755 million, an increase of 17.2% compared to the same period last year [4]. - Total cash inflow from operating activities for the first nine months of 2022 was RMB 547,667 million, compared to RMB 506,457 million in 2021, an increase of about 8.1% [18]. - The total cash inflow from investment activities was RMB 1,065,440 million, while cash outflow was RMB 1,120,020 million, resulting in a net cash flow of RMB (54,580) million for the first nine months of 2022 [19]. - The cash flow from financing activities showed a net outflow of RMB 174,337 million for the first nine months of 2022, compared to a net inflow of RMB 55,895 million in the same period of 2021 [21]. Investment Income - The company reported a decrease in investment income due to fluctuations in the equity market [7]. - The investment income for the first nine months of 2022 was RMB 165,354 million, down 12.2% from RMB 188,868 million in the same period of 2021 [16]. - The company's investment income for the first nine months of 2022 was RMB 134,495 million, an increase from RMB 121,431 million in the same period of 2021 [19]. - Total investment income for the first three quarters was RMB 142.57 billion, with a total investment return rate of 4.03% [11]. - Net investment income increased by 4.7% year-on-year to RMB 145.69 billion, with a net investment return rate of 4.12% [11]. Insurance Business - In the first three quarters of 2022, the company achieved premium income of RMB 554.11 billion, a year-on-year increase of 0.1% [10]. - The insurance business income for the first nine months of 2022 was RMB 554,105 million, slightly up from RMB 553,437 million in the same period of 2021 [16]. - New single premium reached RMB 171.34 billion, growing by 6.3% year-on-year [10]. - The first-year regular premium was RMB 91.37 billion, maintaining stability with a year-on-year increase of 4.9% for ten-year and above first-year regular premiums [10]. - The total premium income for the first nine months of 2022 was RMB 536,679 million, which remained stable compared to RMB 536,368 million in the same period of 2021 [16]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 115,291, with the largest shareholder, China Life Insurance (Group) Company, holding 68.37% [8]. - The company reported a decrease in policyholder dividends to RMB 17,285 million for the first nine months of 2022, down from RMB 22,277 million in the same period of 2021 [16]. Company Strategy and Operations - The company is committed to enhancing consumer rights protection and improving digital operation capabilities [12]. - The company aims to achieve stable business development while deepening reform and transformation efforts [12]. - The company has not disclosed any new product developments or market expansion strategies in this report [6]. Sales Force - The total sales force stood at 783,000, with individual insurance sales personnel numbering 720,000 [11]. Solvency Ratios - The core solvency adequacy ratio reached 161.93%, and the comprehensive solvency adequacy ratio was 230.26% [11]. Foreign Exchange - The company experienced a foreign exchange gain of RMB 648 million in the first nine months of 2022, compared to a loss of RMB 140 million in the same period of 2021 [17].