Financial Performance - Insurance business revenue for Q1 2022 reached RMB 152.47 billion, a year-on-year increase of 12.2%[3] - Underwriting profit for Q1 2022 was RMB 4.316 billion, reflecting a growth of 10.8% compared to the same period last year[3] - Net profit for Q1 2022 was RMB 8.654 billion, down 3.2% from RMB 8.942 billion in Q1 2021[3] - Operating revenue for the three months ended March 31, 2022, was RMB 104,957,311 thousand, up from RMB 99,319,975 thousand in the same period of 2021, representing an increase of about 5%[13] - The net profit for the three months ended March 31, 2022, was RMB 8,653,715 thousand, a decrease from RMB 8,941,807 thousand in the same period of 2021, indicating a decline of approximately 3%[14] Investment Income - Total investment income for Q1 2022 was RMB 6.54 billion, a decrease of 11.6% from RMB 7.397 billion in Q1 2021[9] - The company achieved a total investment yield of 1.2% in Q1 2022, down 0.2 percentage points from 1.4% in Q1 2021[9] - The company’s investment income for the three months ended March 31, 2022, was RMB 6,606,577 thousand, down from RMB 7,318,567 thousand in the same period of 2021, representing a decrease of about 10%[13] Claims and Expenses - The company reported a claims ratio of 70.5% for Q1 2022, an increase of 0.2 percentage points compared to the previous year[5] - The combined expense ratio for Q1 2022 improved to 95.6%, a decrease of 0.1 percentage points year-on-year[5] Assets and Liabilities - Total assets as of March 31, 2022, were RMB 727.03 billion, an increase of 7.0% from RMB 679.742 billion at the end of 2021[3] - The total liabilities increased to RMB 521,115,450 thousand as of March 31, 2022, from RMB 476,481,264 thousand as of December 31, 2021, reflecting an increase of approximately 9%[12] - The company’s total equity increased to RMB 205,914,910 thousand as of March 31, 2022, from RMB 203,260,517 thousand as of December 31, 2021, reflecting a growth of approximately 1%[12] Cash Flow - The company reported cash inflows from operating activities of RMB 125,462,981 thousand for the three months ended March 31, 2022, compared to RMB 112,115,596 thousand in the same period of 2021, marking an increase of about 12%[15] - The company’s cash flow from investing activities generated a net inflow of RMB 8,255,137 thousand for the three months ended March 31, 2022, compared to a net outflow of RMB 659,964 thousand in the same period of 2021[15] - The company’s cash and cash equivalents decreased to RMB 11,723,157 thousand as of March 31, 2022, from RMB 13,265,298 thousand as of December 31, 2021, representing a decline of approximately 12%[11] - Net cash inflow from financing activities amounted to 11,993,413[16] - Net cash outflow from financing activities totaled 9,694,262[16] - Net cash flow from financing activities resulted in a net cash flow of (9,694,262)[16] - The impact of exchange rate changes on cash and cash equivalents was (10,317)[16] - The net decrease in cash and cash equivalents was (1,542,141)[16] Solvency - The solvency adequacy ratio as of March 31, 2022, was 235%, down 49 percentage points from 284% at the end of 2021[10] - Core capital decreased by 5.8% to RMB 183.06 billion as of March 31, 2022, compared to RMB 194.361 billion at the end of 2021[10]
中国财险(02328) - 2022 Q1 - 季度财报