Fintech PR
Actively Cultivating New Foundation of High-quality Development CPIC’s Operating Revenue in 1H 2023 increased by 6.5% year-on-year
HONG KONG, Aug. 27, 2023 /PRNewswire/ — China Pacific Insurance (Group) Co., Ltd. (“CPIC” or the “Group”; Stock code: 2601.HK, 601601.SH, CPIC.LSE) is pleased to announce the 2023 interim results of the Group. During the first half of the year, Group operating income under the New Accounting Standards amounted to RMB175.539 billion, a growth of 6.5% year-on-year; Group OPAT attributable to shareholders of the parent reached RMB21.537 billion, up by 2.5% from the same period of 2022; Group EV amounted to RMB537.114 billion, rising 3.4% from the end of 2022.
On the side of liabilities, in the face of cyclical shifts of the insurance market in recent years, CPIC coordinated transformation and development, with substantial progress in both P/C and life insurance business, and strong momentum in both volume and value, pointing to breakthroughs in transformation. During the reporting period, CPIC Life recorded an NBV growth of 31.5%, with NBV margin rising by 2.7pt year-on-year; CPIC P/C delivered a record primary insurance premiums, exceeding the mark of RMB100 billion, with sustained increase in market share and healthy levels of underwriting profitability.
As for asset management, CPIC stood the test of market volatility at different times, with AuM on steady increase. As of the end of June 2023, Group AuM totalled RMB2.84 trillion, a growth of 6.9% from the end of 2022, with credit risk under effective control. The Company optimised ALM mechanisms, maintained leadership in liability-driven SAA and professional investment expertise, and reported solid investment results, which underpinned the Group overall business performance. Given consistently sound operational performance over the years, CPIC obtained high scores for consecutive years in SARMRA assessment and regulatory corporate governance evaluation for insurance group companies, which also won recognition of the regulator.
In the first half of 2023, CPIC pressed ahead with transformation, increased the sense of urgency and responsibility for development, and continued to boost high-quality development in response to a confluence of new circumstances such as changing market environment, industry transitioning and higher requirements for corporate governance. With the concerted effort of all employees, CPIC delivered a solid set of business results in an environment of great uncertainty, which further cemented the foundation of high-quality development.
In the first half of 2023, the Company unveiled the “352” Health Care Road-map, which seeks to build an all-scenario health care and retirement system covering healthy people, people with prior conditions, those in rehab and the elderly, underpinned by insurance payment, service empowerment and value chain building, which would enable the Company to provide high-quality, integrated service to customers throughout their life cycle. CPIC focused on needs of niche customer segments, i.e., the elderly and the youth, and launched specialised care service; CPIC Home retirement communities have finished nation-wide deployment; the Company inaugurated the Shanghai Experience Pavilion of Youths and Teenagers Health Promotion Centre, and launched the service programme of CPIC Juvenile Health Promotion. CPIC Blue, a charitable fund, established a brick-and-mortar Cerebral Health & Cognitive Centre, the first such facility by a Chinese insurer, promoting public good via professional expertise. The building of top-notch service systems and capabilities significantly added to CPIC Service branding. It is well-known that CPIC is an official sponsor of Hangzhou Asian Games. CPIC P/C and CPIC Life both won the top ranking at the 2022 regulatory evaluation of consumer protection, which was well-received by the general public.
CPIC embraced innovation and change via transformation, leveraged new mechanisms, new technologies and new models to improve productivity and efficiency, fostered new drivers for high-quality development. CPIC Life rolled out Phase II of the Changhang Transformation, with marked improvement in agency force productivity and increased value contribution of bancassurance. CPIC P/C continued to step up study of risks of new technologies, innovated the specialised business model for new energy vehicles, enhanced risk reduction management, and served industrial upgrading. CPIC Group issued an updated version of DiTP planning, a blueprint of digitalisation in the next 3 years. The Company intensified the effort to explore application of large-scaled AI modelling, and the first CPIC Digital Employee went operational in internal audit, marking a milestone of labour digitalisation. CPIC proceeded steadily with innovations of mechanisms for key regional integration, establishing the sharing platform of technology and investment in the Greater Bay Area, with improvement in both business development and innovation capabilities. In ESG, CPIC focused on ESG management systems and capacity-building, incorporating ESG factors into business management of the Company. CPIC seized opportunities arising from the “dual-carbon” strategy, accelerated innovation in products and services for green industries and technologies, and enhanced the supply of green finance. The Company also initiated the measurement and management platform centring on carbon emissions, launched pilot programmes of Tan Puhui system (personal carbon account) for employees and customers, explored the low-carbon operational model for financial services firms, and contributed to the agenda of social green, low-carbon transitioning.
About China Pacific Insurance (Group) Co., Ltd
China Pacific Insurance (Group) Co. Ltd. (hereinafter referred to as “CPIC”, or the “Group”; Stock Code: 2601.HK, 601601.SH, CPIC.LSE) is an insurance holding company incorporated on the basis of China Pacific Insurance Company, which was established on May 13, 1991. It is a leading insurance group headquartered in Shanghai, which is the first insurance group simultaneously listed on Shanghai, Hong Kong and London Stock Exchanges. CPIC is a leading comprehensive insurance group; the Company provides a broad range of risk solutions, financial planning and asset management services to over 100 million customers via its nationwide network of distribution and diversified services platforms.
This press release is distributed by Wonderful Sky Financial Group for China Pacific Insurance (Group) Co. Ltd.
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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
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https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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- 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.”
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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
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