New China Life Insurance Company Ltd.’s Net Profit Rose 114.8% in First Quarter of 2023

New China Life Insurance Company Ltd. (新华人寿保险股份有限公司) (601336.SH) reported a net profit of 6.9 billion yuan in the first quarter of 2023, up 114.8% year-on-year.

Meanwhile, the company posted 29 billion yuan in revenue, up 17.4% year-on-year.

At the end of the reporting period, it had 1.3 trillion yuan in total assets and 1.2 trillion yuan in total liabilities, with a liability-to-asset ratio of 90.5%.