Financial Performance - In Q1 2023, the company achieved insurance service revenue of RMB 107.52 billion, with a net profit of RMB 9.51 billion, reflecting a year-on-year increase of 13.5%[2] - The original insurance premium income for Q1 2023 was RMB 167.64 billion, representing a year-on-year growth of 10.2%[2] - Operating income for Q1 2023 was RMB 115.26 billion, an increase from RMB 105.36 billion in Q1 2022[4] - The total profit for Q1 2023 was RMB 11.61 billion, compared to RMB 9.34 billion in Q1 2022[4] Asset and Liability Management - Total assets as of March 31, 2023, amounted to RMB 661.90 billion, down from RMB 670.35 billion at the beginning of the year[3] - The company's total liabilities were RMB 434.78 billion, compared to RMB 453.09 billion at the start of the year[3] - The company’s equity attributable to shareholders increased to RMB 227.12 billion from RMB 217.26 billion at the beginning of the year[3] Investment and Cash Flow - The company reported investment income of RMB 3.35 billion, down from RMB 6.61 billion in the same period last year[4] - Net cash flow from operating activities increased to RMB 6,331,586 thousand, compared to a loss of RMB 100,380 thousand in the previous year[5] - Total cash inflow from investment activities rose to RMB 48,657,741 thousand, up from RMB 44,521,214 thousand year-over-year[5] - Cash inflow from insurance premiums received was RMB 124,846,693 thousand, an increase from RMB 107,552,397 thousand year-over-year[5] - Cash outflow for claims paid was RMB 76,819,296 thousand, up from RMB 69,186,350 thousand in the previous year[5] Capital and Solvency - The company's actual capital as of March 31, 2023, was RMB 226,932 million, reflecting a 5.3% increase from RMB 215,415 million in the previous year[6] - Core capital increased to RMB 201,596 million, a 6.3% rise from RMB 189,730 million year-over-year[6] - The comprehensive solvency adequacy ratio decreased by 3.0 percentage points to 226.3% as of December 31, 2022[6] - The core solvency adequacy ratio decreased by 0.9 percentage points to 201.0% as of December 31, 2022[6] Risk Management and Strategic Alignment - The comprehensive underwriting cost ratio improved to 295.7%, a decrease of 0.9 percentage points compared to the previous year[2] - The company continues to enhance risk management capabilities and customer experience, aligning with national strategic guidelines[2] Cash Management - Cash and cash equivalents decreased by RMB 4,176,854 thousand, compared to a decrease of RMB 1,542,140 thousand in the previous year[5] - The net cash flow from financing activities showed a significant outflow of RMB 19,711,152 thousand, compared to an outflow of RMB 9,694,262 thousand in the previous year[5]
中国财险(02328) - 2023 Q1 - 季度业绩