China Pacific Insurance (Group) Co., Ltd. (HKG: 2601)

China Pacific Insurance (Group) Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	270,854	266,202	249,636	339,535	331,783	313,304
Total Interest & Dividend Income	-9,087	19,422	12,052	72,845	67,959	61,008
Gain (Loss) on Sale of Investments	31,149	-12,871	1,777	18,798	14,781	4,722
Other Revenue	3,334	3,356	10,308	5,513	4,815	3,978
Total Revenue	296,250	276,109	273,773	436,691	419,338	383,012
Revenue Growth (YoY)	5.23%	0.85%	-37.31%	4.14%	9.48%	8.45%
Policy Benefits	236,970	232,462	216,806	321,854	293,415	260,850
Policy Acquisition & Underwriting Costs	-37	7	-	15,964	20,275	27,567
Selling, General & Administrative	7,790	7,397	6,204	42,099	44,540	38,013
Provision for Bad Debts	-	-	-	263	152	115
Other Operating Expenses	208	1,538	1,414	17,804	22,240	21,625
Reinsurance Income or Expense	-	-	-	-239	-1,336	-455
Total Operating Expenses	244,931	241,404	224,424	398,223	381,958	348,625
Operating Income	51,319	34,705	49,349	38,468	37,380	34,387
Interest Expense	-2,741	-2,683	-2,798	-7,448	-6,749	-6,516
Currency Exchange Gain (Loss)	-393	159	1,085	-417	-1,428	56
Other Non Operating Income (Expenses)	-300	-169	-70	-	-	-
EBT Excluding Unusual Items	47,885	32,012	47,566	30,603	29,203	27,927
Gain (Loss) on Sale of Assets	24	23	24	10	4	15
Asset Writedown	-408	-253	-5,303	-	-	-
Other Unusual Items	219	219	196	183	31	24
Pretax Income	47,720	32,001	42,483	30,796	29,238	27,966
Income Tax Expense	4,030	4,090	4,261	3,178	3,886	-388
Earnings From Continuing Ops.	43,690	27,911	38,222	27,618	25,352	28,354
Minority Interest in Earnings	-1,272	-654	-841	-784	-768	-613
Net Income	42,418	27,257	37,381	26,834	24,584	27,741
Net Income to Common	42,418	27,257	37,381	26,834	24,584	27,741
Net Income Growth	41.80%	-27.08%	39.30%	9.15%	-11.38%	53.95%
Shares Outstanding (Basic)	9,635	9,620	9,620	9,620	9,353	9,062
Shares Outstanding (Diluted)	9,635	9,620	9,620	9,620	9,353	9,062
Shares Change (YoY)	0.33%	-	-	2.85%	3.21%	-
EPS (Basic)	4.40	2.83	3.89	2.79	2.63	3.06
EPS (Diluted)	4.40	2.83	3.89	2.79	2.63	3.06
EPS Growth	41.22%	-27.17%	39.30%	6.12%	-14.10%	53.89%
Free Cash Flow	151,421	133,875	139,567	104,719	104,435	108,320
Free Cash Flow Per Share	15.72	13.92	14.51	10.89	11.17	11.95
Dividend Per Share	1.020	1.020	1.020	1.000	1.200	1.200
Dividend Growth	0%	0%	2.00%	-16.67%	0%	20.00%
Operating Margin	17.32%	12.57%	18.03%	8.81%	8.91%	8.98%
Profit Margin	14.32%	9.87%	13.65%	6.14%	5.86%	7.24%
Free Cash Flow Margin	51.11%	48.49%	50.98%	23.98%	24.90%	28.28%
EBITDA	53,723	37,099	51,730	40,697	39,549	36,458
EBITDA Margin	18.13%	13.44%	18.90%	9.32%	9.43%	9.52%
D&A For EBITDA	2,404	2,394	2,381	2,229	2,169	2,071
EBIT	51,319	34,705	49,349	38,468	37,380	34,387
EBIT Margin	17.32%	12.57%	18.03%	8.81%	8.91%	8.98%
Effective Tax Rate	8.45%	12.78%	10.03%	10.32%	13.29%	-

Source: S&P Capital IQ. Insurance template. Financial Sources.