PICC(SH:601319)2022-10-27 16:00Financial Performance - In Q3 2022, the company's operating revenue reached CNY 144,610 million, representing a 4.0% increase year-on-year[3]. - The net profit attributable to shareholders of the parent company for Q3 2022 was CNY 5,645 million, a significant increase of 45.1% compared to the same period last year[3]. - The basic earnings per share for Q3 2022 was CNY 0.13, reflecting a 45.1% growth year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was CNY 5,499 million, up 43.7% year-on-year[3]. - Net profit attributable to shareholders of the parent company for the same period was 23.495 billion CNY, up 13.1% year-on-year[11]. - Net profit for the period from January 1 to September 30, 2022, reached RMB 33,077 million, an increase of 15.8% compared to RMB 28,735 million in the same period of 2021[21]. Assets and Liabilities - The total assets as of September 30, 2022, amounted to CNY 1,500,461 million, marking a 9.0% increase from the previous year[4]. - The total liabilities increased by 11.2% year-on-year, reaching 1,200.653 billion CNY[11]. - The company's total assets as of September 30, 2022, amounted to 1,500.461 billion CNY, reflecting a 9.0% increase from the end of 2021[11]. - The total liabilities increased to 1,200.653 billion RMB as of September 30, 2022, compared to 1,079.697 billion RMB at the end of 2021[19]. - The company's total equity as of September 30, 2022, was 299.808 billion CNY, a 1.0% increase from the beginning of the year[11]. Cash Flow - The net cash flow from operating activities for the first nine months of 2022 was CNY 52,471 million, up 11.8% year-on-year[3]. - Cash flow from operating activities generated a net amount of RMB 52,471 million, an increase of 11.0% compared to RMB 46,936 million in the same period last year[23]. - Cash flow used in investment activities resulted in a net outflow of RMB 47,364 million, slightly improved from RMB 50,472 million in the previous year[23]. Insurance Business - Insurance business revenue for the first three quarters of 2022 reached 504.37 billion CNY, a year-on-year increase of 10.1%[11]. - The original insurance premium income for property insurance reached 381.024 billion CNY, a 10.2% increase year-on-year[12]. - The net profit for property insurance was 25.948 billion CNY, representing a 29.8% increase year-on-year[12]. - The comprehensive cost ratio for property insurance improved to 96.5%, a decrease of 2.4 percentage points year-on-year[12]. - The first-year premium for long-term insurance was 38.761 billion RMB, a 19.0% increase from 32.577 billion RMB in the same period of 2021[13]. - The company reported a total of 82.465 billion RMB in premium income for the first three quarters of 2022, representing a 5.8% increase from 77.936 billion RMB in 2021[14]. Investment and Strategy - The company plans to enhance its asset management strategies to stabilize investment returns amid challenging market conditions[16]. - The company is focusing on dynamic asset allocation to mitigate investment risks and optimize portfolio structure[16]. - The total investment income for the first nine months of 2022 was 46.028 billion RMB, compared to 50.919 billion RMB in the same period of 2021[20]. Solvency and Financial Health - The core solvency adequacy ratio for the group was 197% as of September 30, 2022, indicating strong capital adequacy[7]. - The company reported a comprehensive solvency adequacy ratio of 259% as of September 30, 2022, demonstrating robust financial health[7]. - The weighted average return on equity increased to 10.6%, up 0.7 percentage points compared to the previous year[11]. Earnings Per Share - The diluted earnings per share for Q3 2022 was CNY 0.12, which is a 33.3% increase compared to the same quarter last year[4]. - Basic earnings per share for the first three quarters of 2022 were 0.53 CNY, up 13.1% from 0.47 CNY in the same period of 2021[11]. - Basic earnings per share for the period were RMB 0.53, compared to RMB 0.47 in the same period of the previous year[22].