China Life Insurance Company Limited (HKG:2628)

HKG:2628 Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	203,955	203,090	207,719	178,459	569,671	571,391
Total Interest & Dividend Income	-7,334	-30,022	42,994	54,205	231,470	103,569
Gain (Loss) on Sale of Investments	86,554	118,449	-50,267	-8,751	-26,420	86,469
Other Revenue	23,684	22,924	18,929	12,693	19,973	17,434
Total Revenue	306,859	314,441	219,375	236,606	794,694	778,863
Revenue Growth (YoY)	36.62%	43.34%	-7.28%	-70.23%	2.03%	13.01%
Policy Benefits	161,619	175,095	145,915	125,340	603,685	575,805
Policy Acquisition & Underwriting Costs	1,786	1,798	1,731	1,499	65,744	84,361
Selling, General & Administrative	7,644	7,378	6,307	6,375	42,120	38,935
Other Operating Expenses	8,922	8,740	14,199	11,653	31,744	12,331
Total Operating Expenses	179,698	193,011	166,645	144,867	744,669	711,157
Operating Income	127,161	121,430	52,730	91,739	50,025	67,706
Interest Expense	-3,918	-4,200	-	-	-	-13,027
Currency Exchange Gain (Loss)	-246	-25	-381	-69	645	119
Other Non Operating Income (Expenses)	15	-82	-	-336	87	79
EBT Excluding Unusual Items	123,012	117,123	52,349	91,334	50,757	54,877
Gain (Loss) on Sale of Assets	89	88	73	122	69	36
Asset Writedown	-1,611	-1,611	-71	-21,396	-88	-83
Other Unusual Items	-461	-387	-363	-	-398	-354
Pretax Income	121,029	115,213	51,988	70,060	50,340	54,476
Income Tax Expense	3,837	6,273	-719	1,948	-1,917	3,103
Earnings From Continuing Ops.	117,192	108,940	52,707	68,112	52,257	51,373
Minority Interest in Earnings	-2,099	-2,005	-1,523	-1,432	-1,491	-1,116
Net Income	115,093	106,935	51,184	66,680	50,766	50,257
Preferred Dividends & Other Adjustments	-	-	-	-	-	201
Net Income to Common	115,093	106,935	51,184	66,680	50,766	50,056
Net Income Growth	134.61%	108.92%	-23.24%	31.35%	1.01%	-13.78%
Shares Outstanding (Basic)	28,254	28,265	28,265	28,254	28,265	28,265
Shares Outstanding (Diluted)	28,254	28,265	28,265	28,254	28,265	28,265
Shares Change (YoY)	-0.19%	-	0.04%	-0.04%	-	-
EPS (Basic)	4.07	3.78	1.81	2.36	1.80	1.77
EPS (Diluted)	4.07	3.78	1.81	2.36	1.80	1.77
EPS Growth	134.97%	108.84%	-23.30%	31.40%	1.47%	-13.58%
Free Cash Flow	383,241	374,816	380,195	342,208	280,863	296,550
Free Cash Flow Per Share	13.56	13.26	13.45	12.11	9.94	10.49
Dividend Per Share	0.650	0.650	0.430	0.490	0.650	0.640
Dividend Growth	51.16%	51.16%	-12.25%	-24.62%	1.56%	-12.33%
Operating Margin	41.44%	38.62%	24.04%	38.77%	6.30%	8.69%
Profit Margin	37.51%	34.01%	23.33%	28.18%	6.39%	6.43%
Free Cash Flow Margin	124.89%	119.20%	173.31%	144.63%	35.34%	38.07%
EBITDA	131,068	125,559	57,746	95,528	53,553	70,937
EBITDA Margin	42.71%	39.93%	26.32%	40.37%	6.74%	9.11%
D&A For EBITDA	3,907	4,129	5,016	3,789	3,528	3,231
EBIT	127,161	121,430	52,730	91,739	50,025	67,706
EBIT Margin	41.44%	38.62%	24.04%	38.77%	6.30%	8.69%
Effective Tax Rate	3.17%	5.45%	-	2.78%	-	5.70%

Updated Oct 30, 2024. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.