NCI(SH:601336)2020-10-27 16:00Financial Performance - Net profit attributable to shareholders decreased by 14.6% to RMB 11,105 million for the nine months ended September 30, 2020, down from RMB 13,003 million in the same period of 2019[3]. - Operating income rose by 27.8% to RMB 169,772 million for the nine months ended September 30, 2020, compared to RMB 132,842 million in the previous year[3]. - The total profit for the nine months ended September 30, 2020, was RMB 12,040 million, compared to RMB 12,321 million for the same period in 2019, reflecting a decline of about 2.3%[25]. - The total comprehensive income attributable to shareholders of the parent company for the nine months ended September 30, 2020, was RMB 13,780 million, compared to RMB 16,669 million for the same period in 2019, a decrease of approximately 17.0%[24]. - The total comprehensive income for the nine months ended September 30, 2020, was RMB 13,782 million, compared to RMB 16,670 million for the same period in 2019, reflecting a decline of about 17.0%[25]. - Basic and diluted earnings per share for the nine months ended September 30, 2020, were RMB 3.56, down from RMB 4.17 in the same period of 2019, a decline of about 14.6%[24]. - Total comprehensive income attributable to the parent company's shareholders was RMB 2,660 million, compared to RMB 3,239 million in the previous year, representing a decrease of approximately 17.9%[28]. Assets and Liabilities - Total assets increased by 6.9% to RMB 939,265 million as of September 30, 2020, compared to RMB 878,970 million at the end of 2019[3]. - The total liabilities as of September 30, 2020, were RMB 845,423 million, up from RMB 794,509 million at the end of 2019, indicating an increase of about 6.4%[22]. - The company's total equity as of September 30, 2020, was RMB 93,842 million, up from RMB 84,461 million at the end of 2019, marking an increase of about 11.5%[22]. - The insurance liabilities, including life insurance and long-term health insurance reserves, rose to RMB 735,165 million, compared to RMB 654,478 million in the previous year, reflecting an increase of approximately 12.3%[22]. - The company's cash and cash equivalents increased to RMB 31,754 million from RMB 24,409 million year-over-year, representing a growth of approximately 29.5%[21]. Cash Flow - The net cash flow from operating activities increased significantly by 98.0% to RMB 55,610 million for the nine months ended September 30, 2020, compared to RMB 28,088 million in 2019[3]. - Total cash inflow from investment activities was RMB 272,739 million, while cash outflow was RMB 292,119 million, resulting in a net cash flow of RMB -19,380 million for the investment activities[30]. - The company reported a total cash inflow from financing activities of RMB 10,081 million, while cash outflow was RMB 48,051 million, leading to a net cash flow of RMB -37,970 million from financing activities[32]. - The net increase in cash and cash equivalents was RMB -1,802 million, with a beginning balance of RMB 11,765 million, resulting in an ending balance of RMB 9,963 million[32]. Investment Performance - The company reported an investment income of RMB 39.78 billion, a significant increase of 50.8% compared to the previous year[16]. - The annualized total investment return rate for the first nine months of 2020 was 5.6%, an increase of 0.9 percentage points year-on-year[15]. - The company’s investment assets amounted to RMB 899.14 billion, growing by 7.1% compared to the end of the previous year[15]. - The company reported a decrease in claims expenditure by 11.2% to RMB 42,468 million for the nine months ended September 30, 2020, compared to RMB 47,819 million in the same period of 2019[6]. Insurance Business - Insurance business income grew by 24.5% to RMB 134,355 million for the nine months ended September 30, 2020, compared to RMB 107,912 million in the same period of 2019[6]. - The earned premium growth rate increased by 17.1 percentage points to 24.9% for the nine months ended September 30, 2020, compared to 7.8% in the previous year[6]. - The first-year premium income for long-term insurance reached RMB 35.99 billion, up 124.7% year-on-year[12]. - The first-year premium income from the bancassurance channel surged to RMB 22.32 billion, reflecting a remarkable growth of 529.8%[14]. - The total premium income from the individual insurance channel was RMB 95.76 billion, representing a year-on-year increase of 9.1%[14]. Other Financial Metrics - The weighted average return on equity decreased by 5.05 percentage points to 12.36% as of September 30, 2020, down from 17.41% at the end of 2019[3]. - The company adjusted actuarial assumptions, resulting in an increase of RMB 2.10 billion in life insurance reserves as of September 30, 2020[19]. - The company experienced a foreign exchange impact on cash and cash equivalents amounting to RMB -62 million[32]. - The company reported a decrease in other comprehensive income after tax, with a net amount of RMB (227) million, compared to RMB 781 million in the previous year[29].