PICC(SH:601319)2019-10-29 16:00Financial Performance - Net profit attributable to shareholders of the parent company for the first three quarters of 2019 was RMB 21,368 million, representing a significant increase of 76.3% year-on-year[4]. - Operating revenue for the first three quarters of 2019 was RMB 423,759 million, up 7.5% from the same period in 2018[4]. - Basic earnings per share for the first three quarters of 2019 were RMB 0.48, a 69.2% increase compared to RMB 0.29 in the same period of 2018[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 17,908 million, an increase of 48.4% year-on-year[4]. - Net profit for the same period was RMB 29.931 billion, representing a significant year-on-year growth of 73.8%[10]. - The net profit for the first nine months of 2019 reached RMB 29,931 million, a 73.8% increase compared to RMB 17,222 million in the same period of 2018[22]. - The total comprehensive income for the first nine months of 2019 was RMB 41,885 million, reflecting a significant increase of 186.6% from RMB 14,613 million in the previous year[22]. - The company reported a total comprehensive income of RMB 10,252 million for the first nine months of 2019, compared to RMB 41,885 million in the same period of 2018, a decrease of 75.5%[29]. Assets and Liabilities - Total assets as of September 30, 2019, reached RMB 1,153,709 million, an increase of 11.8% compared to December 31, 2018[4]. - Total liabilities increased by 10.4% to RMB 912.374 billion, driven by growth in insurance reserves[19]. - Total liabilities increased to RMB 912,374 million as of September 30, 2019, up from RMB 826,264 million as of December 31, 2018, representing a growth of approximately 10.4%[26]. - Total equity reached RMB 241,335 million as of September 30, 2019, compared to RMB 205,426 million at the end of 2018, indicating an increase of about 17.4%[26]. - The company's undistributed profits rose to RMB 94,910 million as of September 30, 2019, up from RMB 77,092 million at the end of 2018, reflecting a growth of approximately 23.1%[26]. - The company's total assets as of September 30, 2019, amounted to RMB 1,153,709 million, compared to RMB 1,031,690 million at the end of 2018, indicating growth in asset base[25]. - Total cash inflow from financing activities was RMB 150 million, significantly lower than RMB 18,695 million in the previous year[34]. Cash Flow - The net cash flow from operating activities for the first three quarters of 2019 was RMB 16,369 million, a recovery from a negative cash flow of RMB 30,655 million in the same period of 2018[4]. - Cash flow from operating activities for the period was RMB 411,418 million, compared to RMB 376,450 million in 2018, showing an increase of 9%[31]. - Cash flow from investing activities resulted in a net outflow of RMB 16,953 million, compared to a net outflow of RMB 10,136 million in 2018, indicating a worsening cash flow situation[32]. - Cash flow from financing activities generated a net inflow of RMB 10,500 million, down from RMB 21,791 million in the same period of 2018, reflecting a decrease of 52%[32]. - The ending cash and cash equivalents balance was RMB 71,549 million, an increase from RMB 53,968 million at the end of September 2018, representing a growth of 32%[32]. - The net decrease in cash and cash equivalents was RMB 1,378 million, compared to a decrease of RMB 348 million in the same period last year[34]. Shareholder Information - The company reported a total of 211,988 shareholders as of September 30, 2019[8]. - The top ten shareholders held a combined 60.84% of the shares, with the Ministry of Finance of the People's Republic of China being the largest shareholder[8]. Business Operations - The insurance business revenue for the first three quarters of 2019 reached RMB 440.355 billion, a year-on-year increase of 12.3%[10]. - The comprehensive cost ratio for the property and casualty insurance segment was 97.9%[12]. - The first-year premium income for life insurance reached RMB 867.30 billion, a year-on-year increase of 2.6%[12]. - The first-year premium income for health insurance surged by 347.7% to RMB 50.64 billion, accounting for 91.7% of the first-year premium income for long-term insurance[15]. - The company plans to continue optimizing its business structure and enhancing service quality to maintain its market leadership and drive high-quality development[12]. Investment and Income - The company reported investment income of RMB 12,744 million for the period, up from RMB 10,558 million in the same period of 2018, reflecting a growth of 20.7%[28]. - The company’s investment income from associates and joint ventures was RMB 3,381 million, compared to RMB 3,087 million in the same period of 2018, an increase of 9.5%[28]. - The company’s investment income from associates was RMB 195 million, down from RMB 231 million in the same period of 2018, indicating a decline of 15%[30].