Fintech PR
China Pacific Insurance Announces 2021 Interim Results
China Pacific Insurance (Group) Co., Ltd. (the “CPIC” or the “Group“; Stock code: 601601.SH, 2601.HK, CPIC.LSE) is pleased to announce interim results of the Group for the six months ended 30 June 2021 (the “Reporting Period“).
CPIC reported solid business performance in the first half of 2021. During the reporting period, Group operating income amounted to RMB252.512 billion, a growth of 7.2% year on year. Group net operating profits (OPAT) was RMB18.279 billion, a growth of 4.9% year on year. Group embedded value (EV) amounted to RMB474.431 billion, an increase of 3.3% from the end of 2020. Group assets under management (AuM) amounted to RMB2,565.483 billion, an increase of 5.3% from the end of 2020. Group number of customers amounted to nearly 160 million, and what is worth noting is the Group acquired over 10 million new customers for the first time in half a year.
In the first half of the year, CPIC’s Life insurance new business sales grew rapidly, Property and casualty maintained underwriting profitability, with sustained fast growth of non-auto business. Gross written premiums (GWPs) of CPIC Life amounted to RMB141.449 billion, up by 2.1%. Of this, first year premiums (FYPs) from the agency channel of the individual business realised a growth of 18.5%. OPAT of life insurance reached RMB14.293 billion, up by 6.7%; the residual margin of life insurance amounted to RMB357.713 billion, a growth of 1.9% from the end of 2020. GWPs of CPIC Property and casualty (Consolidated data of CPIC P/C, CPIC Anxin Agricultural and CPIC HK) amounted to RMB82.761 billion, an increase of 6.4%. Of this, non-auto business grew by 28.3% and accounted for 46.1% of total property and casualty insurance GWPs, up by 7.9pt. Automobile insurance enhanced customer retention to push for a shift of growth drivers. Emerging business lines such as health, agricultural and liability insurance maintained rapid development.
In the first half of the year, CPIC persisted in asset allocation through economic cycles and based on profiles of liabilities, with solid investment results. Group AuM amounted to RMB2,565.483 billion, an increase of 5.3% from the end of 2020. Of this, third-party AuM amounted to RMB813.367 billion, an increase of 3.2%.
Specifically, CPIC Property and casualty insurance pro-actively adapted to the comprehensive reform of automobile insurance, pushed for integration of automobile and non-auto insurance business and delivered rapid top-line growth while maintaining underwriting profitability. CPIC Life insurance recorded FYPs growth of high double digits on the back of well-planned and executed business promotion activity and continued innovation in “products + services” focusing on customer demands, with sustained increase in residual margin. As for investment, CPIC made wise decisions, based on a Group-centralised investment research platform, and realised stable investment results amid a volatile market. The Group also established a private equity firm and obtained the qualification for fund management, enhancing deployment in asset management.
Value and long term have been ingrained into our culture and business philosophy. When faced with hard choices, the Group would choose to do the “practical”, “difficult” and “right” thing.
The implementation of the health business strategy got underway. Guangci-CPIC On-line Hospital went operational and launched its first product “CPIC Family Doctor”, a proprietary online management platform for doctors so that each of our customers can access high-quality family doctor services. Our health insurance subsidiary completed shareholding restructuring, and is currently working on “new channels, new products, new technology” to drive transformation. As for industrial investment in health care, on the back of market-based platforms, CPIC established a dedicated equity investment fund focusing on innovative drug, medical equipment and appliances and medical services, with a number of projects underway.
The Group initiated and moved ahead with the big data strategy. A unified data management policy was formulated, with the establishment of a multi-tiered organisational structure from the Group to subsidiaries. The Group proceeded with platform building, data governance and data applications based on an overall blueprint. The mechanism of technology marketisation went operational. CPIC Fintech, which is still in the preparatory stage, signed shared service agreements with other subsidiaries so that it could be more pro-active and efficient in serving their needs. The building of R&D centres also delivered initial success. The centres in Shanghai, Chengdu and Wuhan combine specialisation with collaboration. Going forward, CPIC will establish an innovation R&D centre in the Greater Bay Area, and its construction plan is being reviewed for feasibility. The Group also set up the Data and Intelligence Institute, stepped up recruitment of top-notch talent in the industry, with 7 leading experts now on board. CPIC put in place task forces in 6 areas such as big data, AI, cyber-security, Internet operation, cloud computing and block chain, responsible for development of core technologies with incubation mechanisms initially in shape.
The Group continued to deepen “CPIC Service”. The institution of “Service Officer” was put in place, which covers 5,800 branch offices and stretches across 4 levels of hierarchy, from the Group to key sub-branches. Over 700 senior managers were appointed as Service Officers, working at the front-line of customer service and shouldering the responsibility of “integrating CPIC Service into transformation initiatives”. “Blue Friends”, or CPIC employees in blue uniforms can be seen at the forefront of the fight against the pandemic, on the venue of the China International Import Expo and the Flower Expo, and the site of relief and rescue of heavy rains in Henan Province. “Responsible, intelligent and caring” have become the label of “CPIC Service”.
The Group made progress with sustainable development. Under the leadership of the board, the Group completed the top-level ESG design, and have started to incorporate ESG sustainable development philosophy into daily business operation. The Group vigorously supported motor vehicles running on renewal energy via automobile insurance to encourage green travelling, and provided insurance cover for 424.6 thousand new energy vehicles; the Group tailor made insurance solutions for environmental treatment, green ship-building, advanced manufacturing and new infrastructure, and launched a number of products to boost sustainable development of the ecosystem; the Group conducted green investment in renewable energy, water conservation and environmental protection area by means of debt securities, equity investments and industry funds. The Group is in the process of formulating a Group-level sustainable development strategy covering liabilities, assets and our own operation, so as to attain a new level of sustainable development.
STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
The following files are available for download:
|
Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
|
|
EQT AB Group |
View original content:https://www.prnewswire.co.uk/news-releases/invitation-to-presentation-of-eqt-abs-q1-announcement-2024-302109147.html
- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
Photo – https://mma.prnewswire.com/media/2380039/Photo_1__2024_CEO_Investor_Day.jpg
PDF – https://mma.prnewswire.com/media/2380040/Press_Release__2024_Kia_CEO_Investor_Day_240405.pdf
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/kia-presents-roadmap-to-lead-global-electrification-era-through-evs-hevs-and-pbvs-302109142.html
VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
Logo – https://mma.prnewswire.com/media/1430981/BIOVAXYS_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/biovaxys-technology-corp-provides-bi-weekly-mcto-status-update-302108920.html
-
Fintech5 days agoHow to identify authenticity in crypto influencer channels
-
Latest News5 days ago
HSBC-backed fintech Monese is considering splitting its operations as it grapples with increasing losses.
-
Latest News5 days ago
EverBank has announced a groundbreaking partnership with Finzly, poised to revolutionize payment processing.
-
Latest News5 days ago
FinTech leaders express caution regarding the promises made in #Budget2024 concerning open banking, stating that the “devil is in the details.”
-
Latest News4 days ago
Gotion High-tech’s operating profit up 391% in 2023, nearly RMB 2.8 billion invested in R&D for the year
-
Latest News4 days ago
Aurionpro Solutions acquires Arya.ai, to power next generation Enterprise AI platforms for Financial Institutions
-
Latest News5 days ago
Wells Fargo, a leading financial institution, is set to revolutionize its trade finance operations by incorporating artificial intelligence (AI) technology through its collaboration with TradeSun.
-
Latest News4 days ago
Latvian Fintech inGain Raises €650,000 for No-Code SaaS Loan Management System