HKG:2328 Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	511,594	485,223	457,203	424,355	396,997
Total Interest & Dividend Income	20,382	20,595	21,087	20,909	17,540
Gain (Loss) on Sale of Investments	13,076	8,679	-4,175	-3,801	3,634
Total Revenue	545,052	514,497	474,115	441,463	418,171
Revenue Growth (YoY)	5.94%	8.52%	7.40%	5.57%	1.52%
Policy Benefits	491,429	470,843	438,133	401,959	292,588
Policy Acquisition & Underwriting Costs	-	-	-	-	88,497
Selling, General & Administrative	-	-	-	-	10,208
Other Operating Expenses	2,911	1,763	2,203	1,818	4,183
Total Operating Expenses	494,340	472,606	440,336	403,777	395,476
Operating Income	50,712	41,891	33,779	37,686	22,695
Interest Expense	-9,696	-11,070	-11,151	-10,128	-1,386
Earnings From Equity Investments	7,376	7,123	5,530	4,777	4,524
Currency Exchange Gain (Loss)	-245	-19	23	621	-282
Other Non Operating Income (Expenses)	-182	325	70	1,064	477
EBT Excluding Unusual Items	47,965	38,250	28,251	34,020	26,028
Asset Writedown	-264	-235	-216	-	-
Pretax Income	47,701	38,015	28,035	34,020	26,028
Income Tax Expense	7,324	5,854	3,469	4,912	3,663
Earnings From Continuing Ops.	40,377	32,161	24,566	29,108	22,365
Minority Interest in Earnings	-7	12	19	55	-5
Net Income	40,370	32,173	24,585	29,163	22,360
Net Income to Common	40,370	32,173	24,585	29,163	22,360
Net Income Growth	25.48%	30.86%	-15.70%	30.43%	7.15%
Shares Outstanding (Basic)	22,242	22,242	22,242	22,242	22,242
Shares Outstanding (Diluted)	22,242	22,242	22,242	22,242	22,242
EPS (Basic)	1.82	1.45	1.11	1.31	1.01
EPS (Diluted)	1.81	1.45	1.10	1.31	1.00
EPS Growth	25.52%	30.86%	-15.71%	30.45%	7.14%
Free Cash Flow	39,606	33,282	17,808	37,147	13,919
Free Cash Flow Per Share	1.78	1.50	0.80	1.67	0.63
Dividend Per Share	0.680	0.540	0.489	0.478	0.407
Dividend Growth	25.93%	10.43%	2.30%	17.45%	8.53%
Operating Margin	9.30%	8.14%	7.12%	8.54%	5.43%
Profit Margin	7.41%	6.25%	5.18%	6.61%	5.35%
Free Cash Flow Margin	7.27%	6.47%	3.76%	8.42%	3.33%
EBITDA	53,623	44,778	36,568	40,362	25,094
EBITDA Margin	9.84%	8.70%	7.71%	9.14%	6.00%
D&A For EBITDA	2,911	2,887	2,789	2,676	2,399
EBIT	50,712	41,891	33,779	37,686	22,695
EBIT Margin	9.30%	8.14%	7.12%	8.54%	5.43%
Effective Tax Rate	15.35%	15.40%	12.37%	14.44%	14.07%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.