NCI(SH:601336)2020-08-25 16:00Financial Performance - Net profit attributable to shareholders was 8,218 million RMB, a decrease of 22.1% compared to the previous year[15]. - Total revenue reached 118,660 million RMB, representing a 31.5% increase year-on-year[15]. - Insurance business income was 96,879 million RMB, up 30.9% from the previous year[15]. - The weighted average return on equity for shareholders was 9.13%, down 5.46 percentage points from the previous year[16]. - The investment income for the first half of 2020 was 25.296 billion CNY, representing a 46.0% increase from 17.329 billion CNY in the previous year[22]. - The company reported a net profit of 21 million for the pension insurance segment, reflecting a 21% increase[61]. - The company reported a net profit of (8) million for the pension service segment, indicating a loss[61]. - The company reported a total comprehensive income of RMB 11,121 million for the six months ended June 30, 2020, compared to RMB 13,431 million for the same period in 2019, a decrease of 17.2%[149]. - The company reported total assets of 390.367 billion and net assets of 92.082 billion as of June 30, 2020[61]. Assets and Liabilities - Total assets increased by 6.9% to 939,351 million RMB as of June 30, 2020[15]. - The total liabilities of the company reached RMB 848,175 million, up from RMB 794,509 million, indicating an increase of about 6.75%[143]. - The company's equity attributable to shareholders rose to RMB 91,165 million from RMB 84,451 million, reflecting an increase of approximately 7.9%[145]. - The total cash and cash equivalents at the end of the reporting period amounted to 117.75 billion, with term deposits at 955.40 billion[55]. - The total amount of available-for-sale financial assets increased to 399,463 million, with a fair value change of 12,167 million during the period[56]. Investment Activities - The company actively pursued long-term equity investments and domestic real estate investments to diversify its asset allocation[40]. - The company did not engage in any significant equity or non-equity investments during the reporting period, maintaining a conservative investment strategy[101]. - The company has issued a total of RMB 100 billion in capital replenishment bonds during the reporting period, with the issuance completed by May 2020[107]. - The company reported a net cash outflow from investment activities of 31,803 million, a decrease of 25.1% compared to the previous year[54]. Premium Income and Insurance Business - The number of earned premiums was 94,782 million RMB, reflecting a growth rate of 31.6%[18]. - The first-year premium income from long-term insurance reached 29.862 billion CNY, a significant increase of 155.0% compared to 11.712 billion CNY in the same period of 2019[25]. - The total premium income for the first half of 2020 was RMB 4,794 million, significantly higher than RMB 2,233 million in the same period of 2019, representing a growth of approximately 114%[142]. - The total claims and policyholder benefits amounted to CNY 89,983 million, a 41.8% increase from CNY 63,444 million in 2019[35]. Regulatory Compliance and Governance - The board of directors confirmed the accuracy and completeness of the financial report for the first half of 2020, which remains unaudited[4]. - The company adheres to the minimum capital requirements set by the China Banking and Insurance Regulatory Commission, ensuring regulatory compliance[84]. - The company has not experienced any major lawsuits or arbitration matters during the reporting period[106]. - The company has maintained a diversified entrusted investment management system, primarily utilizing internal investment managers[103]. Shareholder Information - The total number of shares issued by the company remains unchanged at 3,119,546,600 shares as of June 30, 2020, with 66.85% being A-shares and 33.15% being H-shares[118]. - The company has 76,138 shareholders, with 75,851 holding A-shares and 287 holding H-shares as of the end of the reporting period[120]. - The top shareholder, HKSCC Nominees Limited, holds 1,033,430,431 shares, representing 33.13% of the total shares, with a decrease of 390,805 shares during the reporting period[121]. Employee and Operational Insights - The company employed a total of 36,058 employees as of June 30, 2020[132]. - Online training was actively conducted to enhance employee skills during the pandemic, covering 2,565 party leaders[132]. - The company provided competitive compensation and various welfare plans, including enterprise annuities, to meet diverse employee needs[132]. Social Responsibility and Community Engagement - The company has invested over RMB 500,000 in poverty alleviation projects from 2017 to July 2020, benefiting 34 deep poverty areas across 11 provinces[110]. - The company has donated a total of over RMB 643.5 million to various charitable organizations in response to the pandemic by July 2020[117]. - The company has organized 1,252 volunteer activities with a total service time of 53,656.8 hours in the first half of 2020[114]. Risk Management and Financial Estimates - The company has recognized a total of RMB 2,910 million in settlement payments related to unauthorized bond repurchase transactions conducted by the former chairman[192]. - The company estimates deferred tax assets based on the likelihood of future taxable income, requiring significant judgment from management[189]. - The company’s financial reporting includes significant accounting judgments and estimates that may affect the recognition of financial assets and liabilities[185].