New China Life Insurance Company (601336) Q1 2026 earnings summary

Executive summary

• Net profit attributable to shareholders rose 10.5% year-over-year to RMB6,501 million for Q1 2026.

• Gross written premiums increased 14.0% year-over-year to RMB83,496 million, with strong growth in regular and renewal premiums.

• Value of new business grew 24.7% year-over-year, reflecting improved business structure and quality.

Financial highlights

• Operating income declined 33.7% year-over-year to RMB22,133 million, mainly due to capital market volatility affecting fair value of trading financial assets.

• Net cash flows from operating activities increased 8.1% year-over-year to RMB36,311 million.

• Total assets stood at RMB1,853,653 million, down 2.4% from year-end 2025.

• Equity attributable to shareholders rose 10.8% to RMB123,557 million as of March 31, 2026.

• Basic and diluted EPS both increased 10.1% year-over-year to RMB2.08.

Outlook and guidance

• Persistency ratios and surrender rates improved, supporting sustainable growth and value creation.

• Continued focus on high-quality development, customer-centric strategies, and business structure optimization.