NCI(601336) 搜狐财经·2025-03-30 12:26Core Insights - The company achieved significant growth in 2024, with total insurance premium income reaching 170.5 billion yuan, a year-on-year increase of 2.8% [1] - Total assets grew to 1.69 trillion yuan, up 20.6% year-on-year, and net profit attributable to shareholders surged to 26.2 billion yuan, an increase of 201.1% [1] - New business value (NBV) more than doubled to 6.3 billion yuan, with first-year premium income rising by 15.6% to 27.2 billion yuan [1][2] Business Performance - The company reported a total premium income of 170.5 billion yuan, with a 75% contribution from renewal premiums [1] - The stock price increased nearly 70% in 2024, reflecting positive market sentiment towards the company's performance [1] Risk Management - The company employs a "three balances" strategy to mitigate interest spread loss risks, balancing traditional and floating yield products, protection and savings products, and existing and new business [3][4] - The management believes that current asset allocation can cover liability costs, indicating no immediate interest spread loss risk [2] Investment Strategy - The investment scale exceeded 1.6 trillion yuan, with a total investment return rate of 5.8% and a comprehensive investment return rate of 8.5%, significantly contributing to profit growth [6] - The company focuses on long-term, value-based investments, diversifying investment strategies to capture new economic opportunities [7][8] Health and Elderly Care Ecosystem - In 2024, the company expanded its health and elderly care services, launching various service brands and establishing a comprehensive customer service ecosystem [10] - The company aims to enhance its core competitiveness in health and elderly care by building a nationwide and overseas network of quality care projects [11] Dividend Policy - The company plans to distribute a cash dividend of 1.99 yuan per share, totaling 6.208 billion yuan, with a dividend payout ratio exceeding 30% of net profit [12] - Since its listing in 2011, the company has distributed over 35.9 billion yuan in cash dividends, maintaining a minimum annual dividend rate of 30% since 2016 [12]