2014-05-06 16:00Financial Performance - Operating revenue for Q1 2014 was RMB 131,154 million, representing a 27.2% increase from RMB 103,136 million in Q1 2013[4] - Net profit attributable to shareholders increased by 46.2% to RMB 10,809 million in Q1 2014, up from RMB 7,393 million in Q1 2013[4] - Basic earnings per share rose by 46.2% to RMB 1.37 in Q1 2014, compared to RMB 0.93 in Q1 2013[4] - The company reported a net profit excluding non-recurring items of RMB 10,807 million, reflecting a 46.3% increase from RMB 7,389 million in Q1 2013[4] - In Q1 2014, the company achieved a net profit of RMB 10.809 billion, representing a year-on-year increase of 46.2%[16] - Total operating revenue for Q1 2014 reached RMB 131,154 million, a 27.2% increase from RMB 103,136 million in Q1 2013[43] - Net profit attributable to shareholders of the parent company was RMB 10,809 million, up 46.4% from RMB 7,393 million in the same period last year[44] - Basic earnings per share increased to RMB 1.37, compared to RMB 0.93 in Q1 2013, reflecting a 47.3% growth[44] - Insurance business income was RMB 108,075 million, a significant rise of 27.1% from RMB 85,018 million year-over-year[43] - Investment income for the quarter was RMB 15,966 million, up 38.1% from RMB 11,569 million in Q1 2013[43] Asset and Liability Management - Total assets increased by 9.0% to RMB 3,661,234 million as of March 31, 2014, compared to RMB 3,360,312 million at the end of 2013[4] - As of March 31, 2014, total assets reached RMB 3.66 trillion, up 9.0% from the beginning of the year[16] - The bank's total assets reached approximately RMB 2.10 trillion, growing by 10.9% since the beginning of the year[18] - Total liabilities increased to RMB 3,408,719 million, up 9.2% from RMB 3,120,607 million at the end of Q1 2013[41] - Total liabilities were 29,787 million RMB as of March 31, 2014, slightly up from 29,414 million RMB at the end of 2013[50] - The company’s total liabilities and equity structure remains stable with no significant changes reported in the first quarter of 2014[39] Cash Flow and Investment - The net cash flow from operating activities reached RMB 106,400 million, a significant increase of 75.3% compared to RMB 60,682 million in the same period last year[4] - Cash flow from operating activities generated RMB 106,400 million, an increase of 75.5% compared to RMB 60,682 million in the previous year[46] - The company received cash from investment activities totaling 17,111 million RMB in Q1 2014, a significant increase from 2,753 million RMB in Q1 2013[54] - Investment activities generated a net cash outflow of 9,535 million RMB in Q1 2014, compared to a net inflow of 1,269 million RMB in Q1 2013[54] - The company’s investment income for Q1 2014 was RMB 15.966 billion, up 38.0% year-on-year due to growth in investment assets[22] - The company reported a total of 6,460 million RMB in investment income for Q1 2014, a dramatic rise from 175 million RMB in Q1 2013, indicating a growth of 3,688%[52] Shareholder Information - The total number of shareholders at the end of the reporting period was 261,192, with 255,854 A-share shareholders and 5,338 H-share shareholders[6] - The top ten shareholders held a combined 24.35% of the company's shares, with Shenzhen Investment Holding Co., Ltd. being the largest shareholder at 6.08%[6] - The company reported a cash dividend proposal of RMB 0.45 per share for the 2013 fiscal year, which totals approximately RMB 3,562,263,941.40 based on the share count as of December 31, 2013[34] - Total equity attributable to shareholders of the parent company rose to RMB 193,586 million, a 5.0% increase from RMB 182,709 million year-over-year[41] Business Segments Performance - The life insurance business generated premium income of RMB 91.801 billion, a year-on-year growth of 22.7%[17] - The property and casualty insurance business reported premium income of RMB 34.718 billion, increasing by 27.9% year-on-year[17] - Ping An Bank's net profit for Q1 2014 was RMB 5.054 billion, a 40.8% increase compared to the same period last year[18] - The trust business's assets under management reached RMB 358.951 billion, a 23.6% increase from the start of the year[19] - The company’s insurance funds investment portfolio size reached RMB 1.30 trillion, growing by 5.7% since the beginning of the year[17] Regulatory and Compliance - The company issued a commitment during the issuance of RMB 26 billion A-share convertible bonds to comply with regulations regarding real estate investments[29] - The company has not encountered any violations of commitments made regarding property ownership disputes as of March 31, 2014[28] - The company has committed to not engage in similar business activities that may compete with its subsidiary, Shen Development, following the completion of a major asset restructuring[31] - The company’s A-share convertible bonds had a credit rating of AAA, as assessed by Dagong Global Credit Rating Co., Ltd.[14]