NCI(SH:601336)2024-04-29 09:21Financial Performance - In Q1 2024, the company reported operating revenue of RMB 26,479 million, a decrease of 8.7% year-on-year[4] - The net profit attributable to shareholders was RMB 4,942 million, down 28.6% compared to the same period last year[4] - The net cash flow from operating activities was RMB 3,765 million, reflecting a decline of 1.5% year-on-year[4] - Total operating revenue for the first quarter of 2024 was RMB 26,479 million, a decrease of 8.3% from RMB 29,005 million in the same period last year[27] - Net profit attributable to shareholders of the parent company was RMB 4,942 million, down 28.4% from RMB 6,917 million year-on-year[27] - The diluted earnings per share for Q1 2024 were RMB 1.58, compared to RMB 2.22 in the same period last year[28] Asset and Liability Management - The total assets increased by 1.9% to RMB 1,429,598 million compared to the end of the previous year[6] - The company's total assets as of March 31, 2024, were RMB 1,429,598 million, compared to RMB 1,403,257 million at the end of 2023, reflecting a growth of 1.9%[24] - The total liabilities amounted to RMB 1,335,570 million as of March 31, 2024, an increase from RMB 1,298,165 million at the end of 2023[26] - The total equity attributable to shareholders of the parent company decreased to RMB 94,002 million from RMB 105,092 million at the end of 2023[26] Insurance Premiums - The company achieved original insurance premium income of RMB 57,193 million, a decrease of 11.7% year-on-year[15] - The first-year premium income for long-term insurance was RMB 10,910 million, down 45.0% year-on-year[16] - The renewal premium increased by 2.7% year-on-year, reaching RMB 44,601 million[17] - The individual insurance channel generated total premium income of RMB 39,821 million, a decrease of 3.1% year-on-year[18] - The group channel's premium income grew by 25.2% year-on-year, totaling RMB 14,970 million[19] - The total premium income from the bancassurance channel was RMB 15,875 million, down 29.4% from RMB 22,492 million year-on-year[21] - The company reported a significant decrease in short-term insurance premium income, which fell by 25.0% to RMB 34 million[21] - The first-year premium for long-term insurance increased by 85.7% to RMB 104 million compared to RMB 56 million in the previous year[21] Cash Flow Analysis - For the three months ended March 31, 2024, the total cash inflow from operating activities was RMB 61,713 million, a decrease from RMB 70,153 million in the same period of 2023, representing a decline of approximately 12.5%[29] - The net cash flow from investment activities was RMB 8,262 million, a significant improvement compared to a net outflow of RMB 54,144 million in the same period of 2023[30] - The total cash inflow from financing activities was RMB 805 million, down from RMB 26,459 million in the same period of 2023, indicating a decrease of approximately 96.9%[30] - The net cash flow from operating activities was RMB 37,658 million, slightly down from RMB 38,233 million in the same period of 2023, reflecting a decrease of about 1.5%[29] - The total cash and cash equivalents at the end of the period reached RMB 25,355 million, an increase from RMB 20,966 million at the end of the same period in 2023, marking an increase of approximately 20.8%[30] - The cash paid for insurance claims during the period was RMB 18,439 million, a decrease from RMB 24,731 million in the same period of 2023, representing a decline of about 25.5%[29] - The cash received from investment income and interest was RMB 6,325 million, down from RMB 9,828 million in the same period of 2023, indicating a decrease of approximately 35.5%[29] - The cash outflow for investment activities was RMB 136,801 million, a decrease from RMB 204,379 million in the same period of 2023, reflecting a reduction of about 33.1%[30] - The cash received from the issuance of asset-backed plans was RMB 0 million, down from RMB 3,680 million in the same period of 2023, indicating a decrease of 100%[30] - The cash flow from the disposal of subsidiaries and structured entities generated RMB 4,116 million, an increase from RMB 922 million in the same period of 2023, representing a growth of approximately 345.5%[30] Investment Returns - The annualized total investment return for Q1 2024 was 4.60%, while the annualized comprehensive investment return was 6.79%, up from 5.79% in the same period last year[22] - The cash received from investment income and interest was RMB 6,325 million, down from RMB 9,828 million in the same period of 2023, indicating a decrease of approximately 35.5%[29]