PICC(SH:601319)2023-03-24 16:00Dividend and Profit Distribution - The company plans to distribute a cash dividend of RMB 1.66 per 10 shares, totaling approximately RMB 7.341 billion, subject to shareholder approval[7]. - The cash dividend for 2022 was CNY 1.66 per 10 shares (tax included), representing a year-on-year increase of 1.2% and a dividend payout ratio of 30.1% based on net profit attributable to shareholders[20]. Financial Performance - In 2022, the total profit reached CNY 40.97 billion, a year-on-year increase of 14.1%, with net profit at CNY 34.33 billion, up 12.2%[18]. - The group’s original insurance premium income exceeded CNY 600 billion in 2022, with property insurance premium income at CNY 485.43 billion, a growth of 8.3% and a market share of 32.7%[19]. - The net profit attributable to shareholders of the parent company was 24.406 million, up 12.8% from 21.638 million in 2021[30]. - The company reported a net profit of CNY 26.547 billion, reflecting a year-on-year growth of 17.5%[74]. - The company’s total comprehensive income was CNY 32.859 billion, down 58.4% due to capital market fluctuations[73]. Market Position and Recognition - The company ranked 110th in the 2022 Fortune Global 500 list, highlighting its significant market presence[4]. - The company won the "2022 Best Property Insurance Company in Asia" award at the 17th Asian Financial Annual Conference[58]. - The company received the "Best Capital Market Communication Award" and "Best Information Disclosure Award" at the 6th China Excellent IR Awards Ceremony[57]. Investment and Asset Management - The company has a robust asset management platform with a focus on stable investment styles and excellent investment performance[16]. - The group invested CNY 32.6 billion in high-end manufacturing and key technology sectors, marking a 13% increase from the previous year[27]. - The total investment return rate decreased to 4.6%, down 1.2 percentage points from 5.8% in 2021[35]. - The total investment income for 2022 was CNY 55,265 million, a decrease of 12.4% year-over-year, while net investment income rose by 15.5% to CNY 60,355 million[173]. Risk Management and Compliance - The company reported no non-operational fund occupation by controlling shareholders or related parties, ensuring financial integrity[8]. - The group aims to strengthen its risk management capabilities and implement a comprehensive risk management action plan to mitigate risks in key areas[50]. - The company maintained a strong reinsurance policy, collaborating with leading international reinsurers to mitigate operational risks[89]. Technological Innovation - The company is actively investing in technology to enhance data mining, customer insights, and intelligent operations capabilities[16]. - The company emphasizes the application of big data and artificial intelligence to drive innovation in insurance products and services[195]. Business Development and Strategy - The company emphasizes its commitment to serving national strategies and fulfilling social responsibilities, acting as an economic stabilizer[16]. - The company plans to enhance product and technology innovation, focusing on risk management technology and optimizing insurance supply structure[50]. - The company will accelerate overseas business expansion and strengthen investment risk control in its Hong Kong subsidiary[198]. Insurance Sector Performance - The health insurance segment reported premium income of CNY 41.022 billion, a 14.5% increase year-on-year, with net profit soaring by 70.0% to CNY 4.42 billion[42]. - The property insurance segment generated revenue of CNY 487.533 billion, with a year-on-year growth of 8.5% and a net profit of CNY 26.547 billion, up 17.5%[42]. - The company achieved original insurance premium income of CNY 41.022 billion in 2022, marking a 14.5% year-on-year increase[133]. Challenges and Outlook - The company faces macroeconomic risks, including high inflation and geopolitical tensions, which may impact financial markets[200]. - In 2023, the company anticipates favorable development opportunities in insurance due to macroeconomic recovery and policy support, particularly in areas like long-term care and health management insurance[49].