Financial Performance - Net profit attributable to shareholders of the parent company was RMB 4,942 million, a decrease of 28.6% year-on-year[5]. - Operating revenue for the quarter was RMB 26,479 million, down 8.7% from the same period last year[5]. - Basic and diluted earnings per share attributable to shareholders of the parent company were both RMB 1.58, reflecting a decline of 28.8%[5]. - The total comprehensive income attributable to shareholders of the parent company was RMB (11,061) million, compared to RMB 7,292 million in the same period last year[23]. - The company reported a fair value change gain of RMB 8,018 million for the three months ended March 31, 2024, compared to RMB 9,157 million in the same period last year[21]. - The company’s operating profit for the three months ended March 31, 2024, was RMB 5,153 million, a decrease of 36.5% from RMB 8,048 million in the same period last year[21]. Assets and Liabilities - Total assets at the end of the reporting period reached RMB 1,429,598 million, an increase of 1.9% compared to the previous year[4]. - The total liabilities as of March 31, 2024, amounted to RMB 1,335,570 million, an increase of 2.1% from RMB 1,298,165 million as of December 31, 2023[20]. - The company’s insurance contract liabilities increased to RMB 1,219,926 million from RMB 1,146,497 million, representing a growth of 6.4%[20]. - The total equity attributable to shareholders of the parent company decreased to RMB 94,002 million from RMB 105,067 million, reflecting a decline of 10.5%[20]. - The total cash and cash equivalents at the end of the period reached RMB 25,355 million, up from RMB 20,966 million at the end of the same period last year[26]. Cash Flow - Cash flow from operating activities was RMB 37,658 million, a decrease of 1.5% year-on-year[5]. - For the three months ended March 31, 2024, the net cash flow from operating activities was RMB 37,658 million, a slight decrease from RMB 38,233 million for the same period in 2023[24]. - Total cash inflow from investment activities was RMB 145,063 million, compared to RMB 150,235 million in the previous year, resulting in a net cash flow from investment activities of RMB 8,262 million, a significant improvement from a net outflow of RMB 54,144 million in 2023[24]. - The cash flow from financing activities showed a net outflow of RMB 42,439 million, contrasting with a net inflow of RMB 19,270 million in the same quarter of the previous year[26]. - The company received RMB 60,623 million in cash from insurance premiums, a decrease from RMB 69,062 million in the previous year[24]. - Cash outflows for claims paid amounted to RMB 18,439 million, down from RMB 24,731 million in the same quarter of 2023[24]. Insurance Premiums - In Q1 2024, the company achieved original insurance premium income of RMB 57.193 billion, a decrease of 11.7% compared to RMB 64.772 billion in Q1 2023[13]. - The first-year premium income for long-term insurance was RMB 10.91 billion, down 45.0% from RMB 19.839 billion in the same period last year[13]. - The individual insurance channel generated premium income of RMB 39.821 billion, a decrease of 3.1% compared to RMB 41.084 billion in Q1 2023[15]. - The bancassurance channel reported premium income of RMB 15.875 billion, down 29.4% from RMB 22.492 billion year-on-year[15]. - The group insurance channel achieved premium income of RMB 1.497 billion, reflecting a growth of 25.2% compared to RMB 1.196 billion in the previous year[15]. - The company reported a significant increase in ten-year and above premium income, which rose by 83.9% to RMB 993 million from RMB 540 million year-on-year[13]. Solvency Ratios - The core solvency ratio was 142.62%, down from 157.01% at the end of the previous year[9]. - The comprehensive solvency ratio was 252.06%, down from 278.43% at the end of the previous year[9].
新华保险(01336) - 2024 Q1 - 季度业绩