2023-04-27 16:00Financial Performance - Net profit attributable to shareholders was RMB 17.89 billion, representing an 18.0% year-on-year growth[3] - The company achieved a basic and diluted earnings per share of RMB 0.63, an increase of 18.0% compared to the same period last year[4] - In Q1 2023, the net profit attributable to shareholders of the parent company was RMB 17,885 million, compared to RMB 15,152 million in Q1 2022, reflecting a year-on-year increase of about 18.1%[13] - Net profit for Q1 2023 reached RMB 27,700 million, up 76.3% from RMB 15,713 million in Q1 2022[21] - Basic and diluted earnings per share for Q1 2023 were RMB 0.98, compared to RMB 0.56 in Q1 2022, reflecting a 75.0% increase[22] Assets and Liabilities - Total assets reached RMB 5,462.59 billion, an increase of 4.0% compared to the end of the previous year[3] - The total liabilities as of March 31, 2023, were RMB 4,992,310 million, compared to RMB 4,806,863 million at the end of 2022, marking an increase of 3.9%[11] - The company's total equity attributable to shareholders was RMB 470,276 million, up from RMB 445,121 million at the end of 2022, showing a growth of 5.6%[11] - As of March 31, 2023, total assets amounted to RMB 5,286,686 million, an increase from RMB 5,010,068 million at the end of 2022[18] - The total liabilities as of March 31, 2023, were RMB 4,780,746 million, compared to RMB 4,635,095 million at the end of 2022[20] Investment Income - Total investment income for the first quarter was RMB 52.93 billion, a year-on-year increase of 18.8%[7] - The investment income for Q1 2023 was RMB 57,374 million, up from RMB 53,991 million in Q1 2022, indicating a growth of approximately 6.4%[12] - Investment income for Q1 2023 was RMB 17,398 million, a decrease of 66.0% from RMB 51,284 million in Q1 2022[21] Operating Activities - The net cash flow from operating activities was RMB 172.25 billion, a decrease of 1.2% year-on-year[4] - The cash flow from operating activities in Q1 2023 was RMB 172,252 million, compared to RMB 174,372 million in Q1 2022, showing a slight decrease of about 1.3%[14] - The total operating income of China Life Insurance reached RMB 368,385 million, an increase from RMB 343,778 million in Q1 2022, representing a growth of approximately 7.1%[12] - The total operating revenue for Q1 2023 was RMB 109,609 million, an increase of 18.4% compared to RMB 92,574 million in Q1 2022[21] Premiums and Claims - New business value increased by 7.7% year-on-year, with new premium income reaching RMB 117.67 billion, up 16.6%[7] - The total amount of insurance premiums earned in Q1 2023 was RMB 306,537 million, an increase from RMB 294,483 million in Q1 2022, representing a growth of approximately 4.1%[12] - The total amount of claims paid in Q1 2023 was RMB 63,596 million, compared to RMB 41,404 million in Q1 2022, indicating a significant increase of approximately 53.5%[12] Shareholder Information - The total number of shareholders at the end of the reporting period was 98,119, with the largest shareholder holding 68.37%[6] - The company's equity attributable to shareholders increased to RMB 496,619 million as of March 31, 2023, up from RMB 366,021 million at the end of 2022[20] - The company received RMB 7,019 million from minority shareholders in Q1 2023, marking a significant inflow[16] Strategic Initiatives - The company aims to enhance consumer rights protection and accelerate the implementation of its "Eight Major Projects" strategy[9] - The company is focusing on deepening marketing system reforms and accelerating product service mechanism innovation[9] - The company is committed to strengthening risk prevention and control measures to ensure high-quality development[9]