NCI(SH:601336)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was RMB 29,005 million, representing a year-on-year increase of 17.49%[4] - The net profit attributable to shareholders of the parent company reached RMB 6,917 million, a significant increase of 114.8% compared to the same period last year[4][10] - The net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, was RMB 6,916 million, reflecting a 115.1% year-on-year growth[4][11] - The basic and diluted earnings per share for shareholders of the parent company were both RMB 2.22, up 115.5% from RMB 1.03 in the previous year[5][11] - The total comprehensive income for the three months ended March 31, 2023, was RMB 7,293 million, compared to RMB 1,287 million for the same period in 2022[26] Assets and Liabilities - The total assets at the end of Q1 2023 amounted to RMB 1,283,416 million, an increase of 5.69% from the end of the previous year[5] - The total liabilities as of March 31, 2023, amounted to RMB 1,161,792 million, an increase from RMB 1,116,940 million as of December 31, 2022[22] - The company's equity attributable to shareholders of the parent company was RMB 121,602 million, showing a growth of 24.1% compared to the previous year[5] - The total assets as of March 31, 2023, were RMB 1,283,416 million, an increase from RMB 1,267,721 million as of December 31, 2022[22] - The total assets of the company increased from RMB 1,181,619 million in 2022 to RMB 1,197,945 million in 2023, reflecting an increase of RMB 16,326 million[38] Investment Performance - The company's investment assets as of March 31, 2023, were RMB 1,234,624 million, which is a 6.7% increase year-on-year[7] - The company’s total investment assets reached 1,234.62 billion RMB as of March 31, 2023, with an annualized total investment return rate of 5.2%[18] - The investment income for the three months ended March 31, 2023, was a loss of RMB 1,755 million, compared to a profit of RMB 3,897 million in the same period of 2022[23] - The company’s financial investments included RMB 297,165 million in trading financial assets and RMB 240,155 million in debt investments[38] Cash Flow - The cash flow from operating activities was RMB 38,233 million, reflecting an increase of 8.0%[5] - The net cash flow from operating activities for the three months ended March 31, 2023, was RMB 38,233 million, compared to RMB 35,414 million for the same period in 2022, representing an increase of 4.6%[29] - The total cash inflow from investment activities was RMB 150,235 million for the three months ended March 31, 2023, compared to RMB 134,019 million in the same period of 2022, reflecting a growth of 12.1%[30] - The net cash outflow from investment activities was RMB 204,379 million for the three months ended March 31, 2023, compared to RMB 151,694 million in the same period of 2022, indicating a significant increase in investment expenditures[30] - The total cash inflow from financing activities was RMB 26,459 million for the three months ended March 31, 2023, compared to RMB 12,585 million in the same period of 2022, showing a substantial increase of 110.5%[33] Insurance Performance - The insurance service income for Q1 2023 was RMB 13,558 million, which represents a decrease of 4.4% compared to the same period last year[7] - In Q1 2023, the company achieved total premium income of 64.77 billion RMB, a slight decrease of 0.28% compared to the same period last year[14] - The first-year premium for long-term insurance was 9.35 billion RMB, representing a year-on-year growth of 9.2%[15] - The renewal premium increased by 2.5% to 43.42 billion RMB, while short-term insurance premium rose by 5.7% to 1.51 billion RMB[15] - The individual insurance channel's total premium decreased by 4.0% to 41.08 billion RMB, with a significant drop of 25.9% in first-year premiums[17] Accounting Standards and Reporting - The company implemented new accounting standards effective January 1, 2023, impacting the financial reporting of insurance contracts and financial instruments[19] - Total assets as of March 31, 2023, amounted to 1,283.42 billion RMB, reflecting the adoption of new financial reporting standards[21] - The company executed new accounting standards starting in 2023, which involved adjustments to the financial statements[38] Future Plans - The company plans to continue expanding its market presence and investing in new technologies to enhance its product offerings and improve operational efficiency[34]