2023-10-26 16:00Financial Performance - Net profit attributable to shareholders of the parent company for Q3 2023 was RMB 53 million, a decrease of 99.1% year-on-year [4]. - Operating revenue for Q3 2023 was RMB 155,738 million, down 9.8% from the same period last year [4]. - Basic and diluted earnings per share for Q3 2023 were RMB -0.00, a decrease of 99.1% compared to RMB 0.20 in the same period last year [4]. - The weighted average return on equity for Q3 2023 was 0.01%, down 1.20 percentage points year-on-year [4]. - The company experienced a 47.8% decline in net profit attributable to shareholders of the parent company for the year-to-date period compared to the same period last year [7]. - The net profit for the first nine months of 2023 was RMB 17,302 million, down from RMB 32,176 million in the same period of 2022, indicating a decrease of about 46.3% [14]. - The company's operating profit for the first nine months of 2023 was RMB 6,227 million, significantly lower than RMB 28,088 million in the same period of 2022, indicating a decrease of approximately 77.8% [14]. - Net profit for the first nine months of 2023 was RMB 36,559 million, down 35.5% from RMB 56,665 million in the same period of 2022 [23]. - Operating profit for the first nine months of 2023 was RMB 31,657 million, a decrease of 47.8% from RMB 60,650 million in the same period of 2022 [23]. Revenue and Income - In the first three quarters of 2023, the company's premium income reached RMB 578.799 billion, a year-on-year increase of 4.5% [9]. - The insurance business income for the first nine months of 2023 was RMB 578,799 million, compared to RMB 554,105 million in the same period of 2022, reflecting a growth of about 4.5% [14]. - Total operating revenue for the first nine months of 2023 was RMB 244,990 million, a decrease of 16.4% compared to RMB 292,967 million in the same period of 2022 [23]. - Investment income decreased significantly to RMB 22,578 million from RMB 156,921 million year-on-year, reflecting a decline of 85.6% [23]. - The total cash received from original insurance contracts for the group was RMB 541,748 million in the first nine months of 2023, an increase from RMB 494,458 million in the same period of 2022, representing a growth of about 9.57% [16]. Assets and Liabilities - Total assets reached RMB 5,759,367 million, an increase of 9.7% compared to the end of the previous year [3]. - The total liabilities as of September 30, 2023, amounted to RMB 5,307,899 million, an increase of approximately 10.4% from RMB 4,806,863 million at the end of 2022 [13]. - The total assets as of September 30, 2023, were RMB 5,759,367 million, an increase from RMB 5,251,984 million at the end of 2022, showing a growth of about 9.6% [13]. - The total liabilities increased to RMB 5,156,021 million as of September 30, 2023, compared to RMB 4,635,095 million at the end of 2022 [22]. - The insurance contract liabilities reached RMB 4,785,095 million, up from RMB 4,266,947 million at the end of 2022, indicating growth in insurance obligations [22]. Cash Flow - Net cash flow from operating activities for the year-to-date period (1-9 months) was RMB 339,383 million, an increase of 17.5% year-on-year [4]. - The total cash inflow from investment activities for the group was RMB 1,116,800 million in the first nine months of 2023, compared to RMB 1,065,440 million in the same period of 2022, reflecting an increase of about 4.83% [17]. - The net cash outflow from investment activities for the group was RMB 312,592 million in the first nine months of 2023, compared to RMB 54,617 million in the same period of 2022, indicating a significant increase in outflows [17]. - The total cash paid for original insurance contract claims was RMB 171,719 million in the first nine months of 2023, compared to RMB 133,065 million in the same period of 2022, reflecting an increase of approximately 29.05% [16]. - The company reported a net increase in cash and cash equivalents of RMB 29,574 million in the first nine months of 2023, compared to an increase of RMB 60,078 million in the same period of 2022 [18]. Shareholder Information - The total number of shareholders at the end of the reporting period was 86,541, with the largest shareholder holding 68.37% of the shares [8]. - The total equity attributable to shareholders of the parent company was RMB 441,878 million as of September 30, 2023, compared to RMB 436,169 million at the end of 2022, reflecting a slight increase of about 1.6% [13]. - The total equity attributable to shareholders of the parent company increased to RMB 474,739 million as of September 30, 2023, from RMB 366,021 million at the end of 2022 [22]. - The company paid out RMB 20,139 million in dividends and interest in the first nine months of 2023, a decrease from RMB 24,429 million in the same period of 2022 [18]. Operational Highlights - The company maintained a stable sales force of 720,000, with individual insurance sales personnel numbering 660,000, and a year-on-year increase of 28.6% in monthly per capita first-year regular premium income [9]. - The company is focused on high-quality development, emphasizing stable growth, value, structure optimization, team strengthening, and risk prevention [10]. - The core solvency adequacy ratio reached 161.25%, and the comprehensive solvency adequacy ratio was 232.68%, both showing significant increases from the end of 2022 [9].