NCI(SH:601336)2021-08-26 16:00Financial Performance - The company reported a total revenue of 132,075 million RMB for the first half of 2021[11]. - The net profit attributable to shareholders of the parent company was 10,546 million RMB, with an annualized total investment return rate of 6.5%[12]. - Total assets reached 1,022,175 million RMB, while the equity attributable to shareholders was 106,457 million RMB[12]. - The new business value for the first half of the year was 4,090 million RMB, reflecting a growth rate of 269.67%[12]. - Operating revenue for the first half of 2021 was CNY 132.08 billion, reflecting an 11.3% growth compared to CNY 118.66 billion in 2020[14]. - Net profit attributable to shareholders increased by 28.3% to CNY 10.55 billion, up from CNY 8.22 billion in the same period last year[14]. - The annualized total investment return rate improved to 6.5%, up from 5.1% in the previous year, marking a 1.4 percentage point increase[17]. - The weighted average return on equity for shareholders was 9.93%, up from 9.13% in the previous year, indicating improved profitability[15]. - The total comprehensive income for the six months ended June 30, 2021, was RMB 9,124 million, down from RMB 11,121 million in the previous year[145]. - The company reported a total profit of RMB 12,086 million, representing a 30.5% increase from RMB 9,254 million in the same period last year[145]. Investment and Asset Management - The company managed assets exceeding CNY 1 trillion, with total assets reported at CNY 1,022.18 billion as of June 30, 2021, a 1.8% increase from the end of 2020[14]. - As of June 30, 2021, total investment assets amounted to CNY 979,339 million, reflecting a 1.4% increase from CNY 965,653 million at the end of 2020[40]. - The net investment income for the first half of 2021 was CNY 21,380 million, an 11.8% increase compared to CNY 19,131 million in the same period of 2020[42]. - Total investment income reached CNY 31,117 million, representing a 48.1% increase from CNY 21,004 million year-on-year[42]. - The company maintained a focus on safety, liquidity, and profitability in its asset management business amidst a challenging market environment[39]. - The company has implemented various credit enhancement measures for non-standard assets, ensuring a high-quality asset portfolio with low risk[44]. Insurance Operations - Total premium income reached CNY 100.61 billion, a year-on-year increase of 3.9% as of June 30, 2021[13]. - First-year premium for long-term insurance was CNY 30.00 billion, up 0.5% year-on-year[23]. - Renewal premium accounted for 66.6% of total premium income, with a year-on-year growth of 6.9%[23]. - The individual insurance channel generated CNY 69.88 billion in premium income, a 5.5% increase year-on-year[25]. - Health insurance premium income increased by 4.0% to CNY 33.31 billion[28]. - Traditional insurance first-year premium income surged by 31.0% to CNY 10.39 billion[29]. - The 13-month persistency rate for individual life insurance was 88.8%, a decrease of 2.2 percentage points from the previous year[31]. Risk Management and Compliance - The company is committed to strengthening risk management and compliance practices to mitigate potential financial risks[63]. - The company faces challenges from market volatility, credit, and liquidity risks due to the ongoing global economic uncertainties[63]. - The company has not violated decision-making procedures for external guarantees[3]. - The financial report for the first half of 2021 has not been audited[3]. Corporate Governance - The company held three shareholder meetings and six board meetings during the reporting period, ensuring compliance with governance standards[91]. - The board of directors consists of 12 members, including Li Quan, Zhang Hong, and Yang Yi[96]. - The supervisory board consists of 5 members, including Liu Debin and Shi Hongyu, with Liu Debin elected as chairman in April 2021[100]. Social Responsibility and Community Engagement - The company allocated 8 million RMB to support the construction of a school in Guizhou Province as part of its rural revitalization efforts[109]. - In response to the severe flooding in Henan, the company donated 10 million RMB for disaster relief and reconstruction efforts[110]. - The company’s volunteer program engaged 45,925 volunteers, conducting 1,497 service activities totaling 31,384.5 hours in the first half of 2021[110]. - The company has committed to low-carbon operations and implemented energy-saving measures in its office management[108]. Future Outlook and Strategic Initiatives - The company plans to enhance product supply and optimize service offerings, focusing on health and elderly care sectors[62]. - The company aims to improve operational efficiency by implementing new digital solutions, targeting a 10% reduction in operational costs by 2022[137]. - A strategic acquisition is in progress, which is anticipated to enhance the company's service capabilities and increase customer base by 30%[137]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2023[137].