PICC(SH:601319)2019-04-29 16:00Financial Performance - Net profit attributable to shareholders of the parent company for Q1 2019 was RMB 5,887 million, representing a 12.1% increase year-over-year[4] - Operating revenue for Q1 2019 was RMB 163,636 million, up 7.0% compared to Q1 2018[4] - Basic earnings per share for Q1 2019 were RMB 0.13, a 7.6% increase from RMB 0.12 in Q1 2018[4] - Net profit for Q1 2019 was RMB 8.15 billion, reflecting a 10.2% growth compared to the same period last year[10] - The company reported a total comprehensive income of RMB 20,330 million for Q1 2019, significantly higher than RMB 7,203 million in Q1 2018[29] Assets and Equity - Total assets as of March 31, 2019, reached RMB 1,085,313 million, a 5.2% increase from December 31, 2018[4] - The company’s equity attributable to shareholders of the parent company increased by 9.9% to RMB 167,551 million as of March 31, 2019[4] - The total equity increased to RMB 225.756 billion, representing a 9.9% growth year-on-year[11] - The total equity attributable to shareholders was RMB 95,163 million as of March 31, 2019, up from RMB 94,595 million at the end of 2018, indicating a growth of 0.6%[27] Cash Flow - The net cash flow from operating activities for Q1 2019 was RMB (11,621) million, improving by 60.2% from RMB (29,169) million in Q1 2018[4] - Cash flow from investment activities in Q1 2019 was RMB 17,903 million, compared to RMB 8,393 million in Q1 2018, indicating a positive trend in investment recovery[31] - The company reported a net cash outflow from financing activities of RMB 5,491 million in Q1 2019, contrasting with a net inflow of RMB 1,907 million in Q1 2018[32] Liabilities - The company’s total liabilities increased to RMB 859,557 million from RMB 826,264 million, indicating a growth in financial obligations[26] - The asset-liability ratio decreased to 79.2%, down 0.9 percentage points from the previous year[11] Insurance Business - The insurance business revenue for Q1 2019 reached RMB 193.765 billion, a year-on-year increase of 13.6%[10] - The original insurance premium income for PICC Life in Q1 2019 was RMB 58.661 billion, a 3.3% increase year-on-year[14] - The first-year premium income from health insurance reached RMB 1.686 billion, showing a significant growth of 417.2%[16] Expenses - Business and management expenses rose by 43.8% to RMB 20,150 million, reflecting investments in sales team development and marketing efforts[22] - The company reported a decrease in income tax expenses by 46.8%, amounting to RMB 1,259 million, due to a lower effective tax rate compared to the previous year[22] Investment Performance - Investment income for Q1 2019 was RMB 11,734 million, which is a 13.6% increase from RMB 10,325 million in Q1 2018[28] - The company’s investment in available-for-sale financial assets rose to RMB 295,895 million, compared to RMB 284,363 million at the end of 2018, showing a positive trend in investment performance[25] Shareholder Information - The total number of shareholders as of the report date was 274,204, with the top ten shareholders holding 67.60% of the shares[7]