NCI(SH:601336)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders rose by 37.7% to RMB 4,635 million for Q1 2020, up from RMB 3,367 million in Q1 2019[5] - The company reported a 37.5% increase in operating revenue, reaching RMB 68,148 million in Q1 2020, compared to RMB 49,565 million in Q1 2019[5] - Total revenue for Q1 2020 reached RMB 68,148 million, a 37.4% increase from RMB 49,565 million in Q1 2019[22] - Net profit for Q1 2020 was RMB 4.636 billion, a 37.6% increase compared to RMB 3.368 billion in Q1 2019[18] - The company recorded a total comprehensive income of RMB 3,110 million for Q1 2020, down from RMB 7,609 million in Q1 2019[24] Cash Flow and Liquidity - Operating cash flow increased significantly by 193.2% to RMB 28,697 million in Q1 2020, compared to RMB 9,789 million in Q1 2019[5] - Cash and cash equivalents increased by 162.4% to RMB 30.874 billion as of March 31, 2020, driven by liquidity management needs[17] - Cash inflow from financing activities totaled RMB 21,214 million, significantly up from RMB 3,887 million in the same period last year, representing a growth of approximately 447%[26] - Net cash flow from financing activities was RMB 21,049 million, compared to RMB 3,773 million in the previous year, indicating an increase of about 459%[26] - The net increase in cash and cash equivalents for the period was RMB 19,117 million, a substantial rise from RMB 2,716 million year-over-year, reflecting an increase of approximately 605%[26] Investment Performance - Investment income for Q1 2020 was RMB 12,392 million, representing an increase of 79.5% compared to RMB 6,889 million in Q1 2019[22] - Annualized total investment return for Q1 2020 was 5.1%, an increase of 0.9 percentage points year-on-year[16] - The company reported a 79.9% increase in fair value changes, with RMB 12.392 billion recorded in Q1 2020[18] Insurance Business - Insurance business income grew by 34.9% to RMB 58,245 million in Q1 2020, compared to RMB 43,169 million in Q1 2019[7] - Total premium income for Q1 2020 reached RMB 58.245 billion, a year-on-year increase of 34.9%[14] - The first-year premium for long-term insurance was RMB 19.645 billion, up 174.3% compared to the same period last year[14] - Individual insurance channel generated total premium income of RMB 38.455 billion, reflecting an 11.5% increase year-on-year[15] - The first-year premium for long-term insurance through the bancassurance channel surged to RMB 13.036 billion, a staggering increase of 693.9%[15] Assets and Liabilities - Total assets increased by 6.8% to RMB 939,040 million as of March 31, 2020, compared to RMB 878,970 million at the end of 2019[5] - The company’s total equity attributable to shareholders rose to RMB 87,644 million, compared to RMB 84,451 million, marking an increase of approximately 2.6%[21] - Total liabilities increased to RMB 851,385 million from RMB 794,509 million, reflecting a rise of about 7.2%[21] - The insurance liabilities, including life insurance reserves, totaled RMB 594,468 million, up from RMB 567,985 million, which is an increase of about 4.7%[21] - The company's long-term health insurance reserves increased to RMB 93,582 million from RMB 86,493 million, representing an increase of approximately 8.5%[21] Earnings Per Share - The basic earnings per share increased by 38.0% to RMB 1.49 in Q1 2020, compared to RMB 1.08 in Q1 2019[5] - The company reported a basic and diluted earnings per share of RMB 1.49 for Q1 2020, compared to RMB 1.08 in Q1 2019[24] Other Financial Metrics - The weighted average return on equity increased to 5.39% in Q1 2020, up from 4.85% in Q1 2019, reflecting a 0.54 percentage point increase[5] - The core solvency ratio was 272.51% as of March 31, 2020, down from 283.64% at the end of 2019[9] - The company experienced a 41.2% decrease in policyholder benefits, amounting to RMB 2.288 billion in Q1 2020[18] - The total amount of financial assets at fair value through profit or loss was RMB 27,383 million, up from RMB 24,409 million, indicating a growth of about 12.1%[20] - The total amount of investment properties was RMB 9,034 million, slightly down from RMB 9,051 million, showing a minor decrease of about 0.2%[21]