Xin Lang Cai Jing·2025-03-28 01:23Core Viewpoint - China Life Insurance Company reported strong performance for 2024, emphasizing its commitment to high-quality development and shareholder returns, with a total premium income of 671.46 billion yuan, a net profit of 106.93 billion yuan, and a year-on-year growth of 108.9% in net profit [1][2][3]. Group 1: Financial Performance - Total premium income reached 671.46 billion yuan, a year-on-year increase of 4.7% [1][2]. - The new business value for 2024 was 33.71 billion yuan, reflecting a 24.3% growth based on 2023 economic assumptions [1][2]. - Net profit attributable to shareholders was 106.93 billion yuan, marking a significant increase of 108.9% [1][2]. - Total investment income amounted to 308.25 billion yuan, with a year-on-year growth of 150% [2][6]. Group 2: Operational Highlights - The first-year premium income reached 119.08 billion yuan, setting a historical record [2]. - The company maintained a core solvency ratio of 153.34% and a comprehensive solvency ratio of 207.76% [3][4]. - The total assets of the company increased to 6.77 trillion yuan, reflecting a growth of 16.7% [2]. Group 3: Shareholder Returns - The company announced a mid-term dividend of 0.65 yuan per share, totaling 18.37 billion yuan, which is a 51.2% increase from 2023 [3][4]. - The management emphasized the importance of balancing shareholder interests with sustainable company growth [3]. Group 4: Strategic Initiatives - The company aims to enhance its core capabilities, focusing on risk protection, asset-liability management, value creation, risk control, and global asset allocation [5]. - China Life is committed to long-term investment strategies, including a focus on equity investments and innovative investment models [6][8]. - The company plans to expand its personal pension business and health insurance offerings to meet diverse customer needs [10][11]. Group 5: Future Outlook - The company anticipates a positive economic recovery in 2025, with expectations for a stable investment return and an increase in equity asset investment proportion [9]. - Strategic focus will be on maintaining steady growth, enhancing value contribution, upgrading operational capabilities, and strengthening foundational management [11].