Financial Performance - Total operating revenue for Q1 2024 was RMB 138,778 million, a slight increase of 0.7% compared to RMB 137,769 million in Q1 2023[2] - Net profit attributable to shareholders of the parent company decreased by 23.5% to RMB 8,963 million from RMB 11,721 million in the same period last year[2] - Basic earnings per share decreased by 23.5% to RMB 0.20 from RMB 0.27 in Q1 2023[2] - Pre-tax profit for Q1 2024 was 13.85 billion CNY, down 25.4% compared to 18.56 billion CNY in Q1 2023[12] - Net profit for Q1 2024 was 12.06 billion CNY, a decrease of 24.8% from 16.05 billion CNY in the same period last year[12] - Total comprehensive income for Q1 2024 was RMB 5,314 million, significantly lower than RMB 18,030 million in Q1 2023[26] - Operating profit for Q1 2024 was RMB 13,845 million, down 25.4% from RMB 18,514 million in Q1 2023[25] Cash Flow - Net cash flow from operating activities fell by 19.6% to RMB 33,154 million, down from RMB 41,213 million in Q1 2023[2] - Cash flow from operating activities generated RMB 33,154 million in Q1 2024, compared to RMB 41,213 million in Q1 2023, reflecting a decrease of 19.5%[27] - The company experienced a net cash outflow from financing activities of RMB 39,576 million in Q1 2024, compared to RMB 46,338 million in Q1 2023[29] - Cash flow from investing activities showed a net inflow of RMB 5,306 million in Q1 2024, a recovery from a net outflow of RMB 4,672 million in Q1 2023[28] Assets and Liabilities - Total assets as of March 31, 2024, increased by 1.1% to RMB 1,574,558 million from RMB 1,557,159 million at the end of 2023[2] - Total liabilities increased to 1,237.58 billion CNY, up 1.0% from 1,225.49 billion CNY at the end of 2023[12] - The company's cash and cash equivalents decreased to RMB 20.24 billion from RMB 21.87 billion at the end of 2023[22] - Total liabilities decreased to RMB 16,569 million as of March 31, 2024, compared to RMB 17,018 million as of December 31, 2023[30] Shareholder Information - The number of ordinary shareholders as of the reporting period was 171,202 for A-shares and 5,238 for H-shares[6][7] - The largest shareholder, the Ministry of Finance of the People's Republic of China, holds 60.84% of the shares[7] Insurance Business Performance - Insurance service revenue for Q1 2024 reached 126.17 billion CNY, a year-on-year increase of 7.7%[12] - The comprehensive cost ratio for the insurance business was 97.9% during Q1 2024[14] - The insurance business achieved a service revenue of 113.84 billion CNY in Q1 2024, reflecting a 5.9% year-on-year growth[14] - In Q1 2024, the total insurance service revenue for China People's Insurance Company reached RMB 173.98 billion, a year-on-year increase of 3.8%[15] - China People's Life Insurance reported a net profit of RMB 3.82 billion in Q1 2024, with insurance service revenue growing by 23.4% year-on-year to RMB 4.79 billion[16] - The new business value for China People's Life Insurance increased by 81.6% year-on-year during the same period[16] - China People's Health Insurance achieved insurance service revenue of RMB 6.84 billion in Q1 2024, reflecting a 40.6% year-on-year growth[18] - The total insurance premium income for China People's Health Insurance was RMB 2.45 billion, with a year-on-year increase of 8.2%[19] Investment Performance - The company reported a significant drop in investment income, which fell to RMB 2,494 million in Q1 2024 from RMB 8,073 million in Q1 2023[24] - The company reported a significant increase in long-term equity investments, reaching RMB 159.26 billion as of March 31, 2024[22] - The company is focusing on enhancing asset allocation strategies and optimizing investment structures to improve overall investment returns[20]
中国人民保险集团(01339) - 2024 Q1 - 季度业绩