2018-04-26 16:00Financial Performance - Operating revenue for Q1 2018 was RMB 310,452 million, representing a 16.8% increase from RMB 265,755 million in Q1 2017[4] - Net profit attributable to shareholders of the parent company rose by 11.5% to RMB 25,702 million in Q1 2018, up from RMB 23,053 million in Q1 2017[4] - Basic earnings per share increased by 11.6% to RMB 1.44 in Q1 2018, compared to RMB 1.29 in Q1 2017[4] - In Q1 2018, the company achieved a net profit of RMB 28.951 billion, a year-on-year increase of 12.5%[14] - The operating profit attributable to shareholders was RMB 28.200 billion, reflecting a growth of 17.7% compared to the same period last year[20] - Net profit for Q1 2018 reached RMB 6,595 million, a 6.1% increase from RMB 6,214 million in Q1 2017[34] - Total operating income for Q1 2018 was RMB 28,026 million, up 1.1% from RMB 27,726 million in Q1 2017[34] - Investment income for Q1 2018 was RMB 36,645 million, an increase from RMB 29,428 million in Q1 2017, showing a growth of 24.6%[73] - Insurance business revenue increased to RMB 253,109 million in Q1 2018, compared to RMB 211,093 million in Q1 2017, marking a growth of 19.9%[72] Assets and Liabilities - Total assets increased by 3.6% to RMB 6,725,766 million as of March 31, 2018, compared to RMB 6,493,075 million at the end of 2017[4] - Total liabilities as of March 31, 2018, amounted to RMB 6,108,353 million, up from RMB 5,905,158 million at the end of 2017[70] - The insurance contract liabilities increased to RMB 1,504,530 million as of March 31, 2018, compared to RMB 1,391,548 million at the end of 2017, reflecting an increase of 8.1%[70] - The total equity attributable to shareholders of the parent company increased to RMB 501,898 million as of March 31, 2018, from RMB 473,351 million at the end of 2017[70] Cash Flow - The net cash flow from operating activities was RMB 139,867 million in Q1 2018, a significant improvement from a negative RMB 41,685 million in Q1 2017[4] - Total cash inflow from investment activities was RMB 433,039 million, while cash outflow was 515,559 million, resulting in a net cash flow of RMB -82,520 million for Q1 2018[76] - The total cash inflow from financing activities was RMB 296,067 million, with a cash outflow of RMB 297,904 million, leading to a net cash flow of RMB -1,837 million[76] Shareholder Information - The total number of shareholders reached 509,891 as of March 31, 2018, with 505,293 holding A shares and 4,598 holding H shares[9] - The top ten shareholders collectively held 60.88% of the total shares, with the largest shareholder being Hong Kong Central Clearing Limited, holding 32.72%[9] - The company proposed a special dividend of RMB 0.20 per share, totaling RMB 3.656 billion, to celebrate its 30th anniversary[14] - The company proposed a cash dividend of RMB 1.00 per share for the 2017 fiscal year, totaling RMB 18,280,241,410.00, subject to shareholder approval on May 23, 2018[57] Business Segments - The life and health insurance business reported premium income of RMB 230.585 billion, up 24.9% year-on-year, with a new business value of RMB 19.897 billion and a new business value rate of 30.2%[15] - The property insurance business reported premium income of RMB 63.217 billion, a year-on-year increase of 17.8%, with a combined cost ratio of 95.9%[15] - The asset management business saw a profit increase of 25.8%, reaching RMB 42.57 billion, while the financial technology and medical technology sectors reported a profit of RMB 18.42 billion, a significant turnaround from a loss[20] - The retail banking business saw retail customer assets grow by 9.2% and retail deposits increase by 13.4% compared to the beginning of the year[15] Technology and Innovation - The company has filed a total of 4,418 patents as of March 2018, an increase of 1,388 patents since the beginning of the year, emphasizing its commitment to technology innovation[23] - The company aims to enhance its position as a leading technology-driven financial service group, focusing on five major ecosystems[39] Financial Standards and Regulations - The company executed new financial instrument accounting standards starting January 1, 2018, impacting the recognition and measurement of financial instruments[67] - The company will withhold a 10% corporate income tax on special dividends distributed to non-resident enterprise shareholders[60] - The company will also withhold a 10% personal income tax on dividends paid to overseas individual shareholders, with potential tax treaty benefits applicable[61]