NCI(SH:601336)2017-04-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 7.9% to RMB 1,837 million, while operating revenue fell by 19.3% to RMB 44,595 million[4]. - The company's net profit for the three months ended March 31, 2017, was RMB 1,837 million, a decrease of 7.88% compared to RMB 1,994 million for the same period in 2016[31]. - Operating revenue for the first quarter of 2017 was RMB 44,595 million, down 19.36% from RMB 55,267 million in the first quarter of 2016[31]. - Investment income for the first quarter of 2017 was RMB 7,648 million, a decline of 17.61% from RMB 9,284 million in the same period last year[31]. - The total comprehensive income for the first quarter of 2017 was RMB 2,483 million, a significant recovery from a loss of RMB 594 million in the first quarter of 2016[31]. Assets and Liabilities - Total assets increased by 1.6% to RMB 710,533 million compared to the end of the previous year[4]. - The total liabilities as of March 31, 2017, amounted to RMB 648,925 million, an increase from RMB 640,056 million as of December 31, 2016, reflecting a growth of approximately 1.36%[30]. - The company's total liabilities increased significantly, with other payables rising by 226.8% to RMB 4,772 million from RMB 1,460 million, driven by increased settlement payments[21]. - The company's cash and cash equivalents increased by 33.8% to RMB 18,912 million as of March 31, 2017, compared to RMB 14,132 million as of December 31, 2016, due to daily liquidity management needs[20]. - The total cash and cash equivalents at the end of the period increased to RMB 18,928 million, up from RMB 14,610 million at the end of the previous year[32]. Insurance Business - Insurance business income declined by 20.0% to RMB 37,251 million, with earned premium down by 20.3% to RMB 36,705 million[8]. - The cash inflow from original insurance contract premiums was RMB 33,420 million, a decrease of 21.9% compared to RMB 42,828 million in the same period last year[32]. - The cash outflow for original insurance contract claims was RMB 31,801 million, slightly lower than RMB 33,006 million in the previous year[32]. - The surrender rate decreased by 0.8 percentage points to 2.9%[8]. - First-year premiums from the individual insurance channel increased by 34.63% to RMB 9,903 million[10]. Investment Performance - The annualized total investment return rate for the year-to-date is 4.5%[9]. - The cash inflow from investment income was RMB 7,086 million, down from RMB 9,574 million in the same period last year, indicating a decline in investment returns[32]. - The total cash inflow from investment activities was RMB 161,679 million, significantly higher than RMB 77,416 million in the previous year, indicating a strong investment performance[32]. Capital Structure and Financing - The company plans to issue domestic debt financing instruments up to RMB 15 billion to optimize its capital structure and support healthy business development, pending shareholder and regulatory approval[23]. - The company also intends to issue overseas debt financing instruments up to USD 2 billion or equivalent foreign currency to enhance its international market influence, subject to shareholder and regulatory approval[24]. Solvency and Equity - The core solvency ratio stood at 261.08%, while the comprehensive solvency ratio was 281.67%[13]. - The total equity attributable to shareholders of the parent company was RMB 61,601 million as of March 31, 2017, an increase from RMB 59,118 million as of December 31, 2016, indicating a growth of approximately 4.19%[30]. Cash Flow - For the three months ended March 31, 2017, the net cash flow from operating activities was negative at RMB 4,900 million, compared to a positive RMB 4,825 million for the same period in 2016[32]. - The net cash flow from financing activities was RMB 2,343 million, down from RMB 5,391 million in the same period last year, reflecting a decrease in financing activities[32]. - The cash flow from other operating activities was RMB 208 million, a decrease from RMB 242 million in the previous year, indicating a decline in operational cash inflows[32].