Financial Performance - Total revenue for Q1 2023 reached RMB 29,005 million, representing a 17.4% increase year-on-year[4] - Net profit attributable to shareholders of the parent company was RMB 6,917 million, a significant increase of 114.8% compared to the same period last year[4] - Basic and diluted earnings per share for shareholders of the parent company were both RMB 2.22, reflecting a 115.5% increase year-on-year[4] - The consolidated net profit for the three months ended March 31, 2023, was RMB 6,918 million, compared to RMB 3,221 million for the same period in 2022, indicating a significant increase of approximately 114.0%[23] - The total revenue for the three months ended March 31, 2023, was RMB 29,005 million, up from RMB 24,698 million in the same period of 2022, reflecting a growth of about 17.0%[23] - Basic earnings per share for the three months ended March 31, 2023, is RMB 2.22, compared to RMB 1.03 for the same period in 2022, reflecting a significant increase[25] - The company’s diluted earnings per share for the three months ended March 31, 2023, is RMB 2.22, compared to RMB 1.03 for the same period in 2022[25] Assets and Liabilities - Total assets as of March 31, 2023, amounted to RMB 1,283,416 million, up 5.6% from the end of the previous year[4] - Total liabilities as of March 31, 2023, were RMB 1,161,792 million, up from RMB 1,116,940 million as of December 31, 2022, which is an increase of about 4.0%[22] - The total assets increased from RMB 1,214,936 million on December 31, 2022, to RMB 1,231,281 million on January 1, 2023, reflecting an adjustment of RMB 16,345 million[30] - The total liabilities decreased slightly from RMB 1,116,940 million to RMB 1,116,934 million, with a net adjustment of RMB (6) million[32] - The company’s total liabilities and shareholders' equity amounted to RMB 1,231,281 million as of January 1, 2023[32] Equity and Solvency - Total equity attributable to shareholders of the parent company rose to RMB 121,602 million, a 24.1% increase from the previous year[4] - Core solvency ratio improved to 146.62% as of March 31, 2023, compared to 140.53% at the end of 2022[9] - The company's total equity as of March 31, 2023, was RMB 121,624 million, an increase from RMB 97,996 million as of December 31, 2022, representing a growth of approximately 24.0%[22] - Shareholders' equity attributable to the parent company rose from RMB 97,975 million to RMB 114,326 million, an increase of RMB 16,351 million[32] Cash Flow - Net cash flow from operating activities was RMB 38,233 million, reflecting an 8.0% increase year-on-year[4] - Net cash flow from operating activities for the three months ended March 31, 2023, is RMB 38,233 million, up from RMB 35,414 million in the same period last year[27] - The company reported a net increase in cash and cash equivalents of RMB 3,380 million for the three months ended March 31, 2023, compared to an increase of RMB 17,586 million in the same period of 2022[29] - The company's cash and cash equivalents increased to RMB 20,982 million as of March 31, 2023, compared to RMB 17,603 million as of December 31, 2022, marking an increase of approximately 19.0%[20] Investment Performance - Investment assets increased to RMB 1,234,624 million, a growth of 6.7% from December 31, 2022[7] - The company's investment income for the three months ended March 31, 2023, was RMB 7,784 million, compared to RMB 7,464 million for the same period in 2022, showing an increase of approximately 4.3%[23] - The company achieved a total premium income of RMB 224.92 billion through the bancassurance channel, marking a growth of 5.9% year-on-year[15] - The company’s total cash outflow from investment activities for the three months ended March 31, 2023, is RMB 204,379 million, compared to RMB 151,694 million in the previous year[29] Insurance Operations - Insurance service income for Q1 2023 was RMB 13,558 million, a decrease of 4.4% from the same period last year[7] - Total premium income for Q1 2023 was RMB 64.772 billion, a slight decrease of 0.2% compared to RMB 64.890 billion in Q1 2022[13] - First-year premium income for long-term insurance was RMB 9.351 billion, representing a year-on-year growth of 9.2%[14] - Renewal premium income increased by 2.5% to RMB 43.422 billion compared to RMB 42.364 billion in the same period last year[14] - The company reported a 39.7% increase in group insurance premium income, totaling RMB 1.196 billion in Q1 2023[16] - The first-year premium income for long-term insurance through the individual insurance channel decreased by 25.9% to RMB 4.298 billion[16] - The total amount of bonds payable increased from 10,000 to 10,211, an increase of 211[35] - The company's total insurance contract liabilities remained stable at 1,013,154[35]
新华保险(01336) - 2023 Q1 - 季度业绩