Cantile losses again!It lost nearly 100 million in half a year.

In 2022, the net profit in the first and second quarters of National Treasure Life was -045 million yuan and -053 million yuan, respectively.

"Investment Times" researcher Fang Yue

Guobao Life Insurance Co., Ltd. (hereinafter referred to as Guobao Life), which was established for four years, has recently changed its equity.

At the end of July, the China Banking Regulatory Commission Sichuan Regulatory Bureau approved the shareholders of the National Treasure Life, approved the Sichuan Sichuan Commercial Development Holdings Group Co., Ltd. (hereinafter referred to as the Development of Sichuan Commercial) to transfer 180 million Stock Life Life, all of which to Sichuan Finance Holding Group Co., Ltd. (hereinafter referred to as Sichuan Financial Holdings). After the transfer is completed, Sichuan business development will no longer hold the company's shares.

In terms of performance, according to the universal development law of "Qiping and Eight Ying" in the life insurance industry, this "young" life insurance company has not yet emerged from the loss period. Since its establishment in 2018, the company has lost its loss for three consecutive years, and its first profit has been achieved in 2021. However, according to the second quarter of 2022, the solvency report shows that the national treasure Life Insurance reappeared in the first half of this year.

Data show that in the first half of 2022, Guobao Life's insurance business revenue was 631 million yuan, a decrease of 63.64%year -on -year; net profit decreased by 912.44%year -on -year, and the loss was 0.99 million yuan.

In addition, the solvency report also disclosed the risk rating of Guobao Life. In the 4th quarter of 2021, the result of comprehensive risk rating (classification supervision) was the result A. In the first quarter of 2022 Low down.

Regarding the above performance, equity transfer and other issues, the "Investment Times" sent a communication letter to Guobao Life, but as of the press time, the reply has not received a reply.

Equity transfer

Public information shows that National Treasure Life was established in April 2018. It is the first life insurance company headquarters and registered place in Sichuan. The business scope mainly includes ordinary insurance (including life insurance and annuity insurance), health insurance, accidental damage Insurance, dividend insurance, universal insurance, and reinsurance business of the above businesses.

On July 29, the Sichuan Regulatory Bureau of the China Banking Regulatory Commission disclosed the "Approval of the National Treasure Life Change shareholders", and approved the development of Sichuan merchants to transfer 180 million shares of national treasure Life in Sichuan to Sichuan Golden Control. After the transfer is completed, Sichuan Financial Holdings will hold 180 million shares of Guobao Life, accounting for 12%of the latter's total shares, and the development of Sichuan merchants will withdraw from the National Treasure Life Stocks.

It is understood that the development of the equity transfer Fangchuan business is one of the shareholders issued by Guobao Life, which was established in 2010. Equity transferee Sichuan Golden Control is a state -owned enterprise in Sichuan Province, which was established in 2017. After the equity transfer is completed, the proportion of state -owned equity of Guobao Life will increase from 33.5%to 45.5%.

In addition to changes in equity, the researcher of the Investment Times noticed that as of the end of the second quarter of 2022, the shares held by the 9 shareholders of Guobao Life Insurance had pledged or frozen.

Among them, Chongqing Jinyang Real Estate Development Co., Ltd., Sichuan Xiongfei Group Co., Ltd., and Chengdu Tianxinyang Jinye Co., Ltd., the shares held by the three shareholders, were pledged or frozen, with a total shareholding of 27%. Some of the 13.5%stake held by CICC Cathema Holdings Group Co., Ltd. were pledged and frozen.

It can be seen that there are still some unstable factors in the equity of national treasure life.

Nearly 100 million in the first half of the year

In addition to new changes in the equity structure, the performance of Guobao Life also changed in the first half of this year.

Recently, the solvency report of the second quarter of 2022 disclosed by National Treasure Life showed that the company's net profit in the first half of 2022 fell into losses.

Data show that in the first half of 2022, Guobao Life's insurance business revenue was 631 million yuan, a year-on-year decrease of 63.64%; net profit was -099 million yuan, a year-on-year decrease of 912.44%. In the first and second quarters of 2022, the company's insurance business revenue and net profit income decreased significantly year -on -year.

Specifically, in the first quarter of 2022, Guobao Life's insurance business revenue was 419 million yuan, a decrease of 70.37%year-on-year; net profit was -045 million yuan, a year-on-year decrease of 743.50%.

In the second quarter of 2022, Guobao Life's insurance business revenue was 212 million yuan, a decrease of 49.43%compared to the first quarter, and a decrease of 33.98%compared with the same period last year; net profit was -053 million yuan, compared with the losses in the first quarter, the loss in the first quarter Further expanded, a large decrease of 1145.43%compared with the same period last year.

Researcher "Investment Times" noticed that since its establishment in 2018, National Treasure Life has only achieved profit in 2021.

According to the annual report, from 2018 to 2021, the operating income of Guobao Life was 386 million yuan, 1.123 billion yuan, 2.153 billion yuan, and 3.102 billion yuan. Among them, the insurance business revenue was 328 million yuan, 1.016 billion yuan, and 1.925 billion yuan The yuan and 2658 billion yuan showed a significant upward trend; the net profit of the same period was -069 billion yuan, -026 million yuan, -113 million yuan, and 116 million yuan.

Judging from the Report on Earlier Reports and 2022, as of the first half of the first half of 2022, the cumulative loss of 291 million yuan since its establishment.

From 2018 to the first half of 2022, National Treasure Life Profit Performance (Unit: 100 million yuan) Data Source: Company Annual Report, Comefunding Report

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