PICC Property and Casualty Company Limited (PPCCY)

PPCCY 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	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	498,422	485,223	457,203	424,355	396,997	393,127
Total Interest & Dividend Income	21,379	20,595	21,087	20,909	17,540	17,285
Gain (Loss) on Sale of Investments	11,842	8,679	-4,175	-3,801	3,634	1,520
Total Revenue	531,643	514,497	474,115	441,463	418,171	411,932
Revenue Growth (YoY)	9.69%	8.52%	7.40%	5.57%	1.52%	3.49%
Policy Benefits	480,652	470,843	438,133	401,959	292,588	260,320
Policy Acquisition & Underwriting Costs	-	-	-	-	88,497	115,157
Selling, General & Administrative	-	-	-	-	10,208	9,826
Other Operating Expenses	2,111	1,763	2,203	1,818	4,183	3,647
Total Operating Expenses	482,763	472,606	440,336	403,777	395,476	388,950
Operating Income	48,880	41,891	33,779	37,686	22,695	22,982
Interest Expense	-10,942	-11,070	-11,151	-10,128	-1,386	-1,477
Earnings From Equity Investments	7,499	7,123	5,530	4,777	4,524	3,951
Currency Exchange Gain (Loss)	-115	-19	23	621	-282	-621
Other Non Operating Income (Expenses)	248	325	70	1,064	477	-159
EBT Excluding Unusual Items	45,570	38,250	28,251	34,020	26,028	24,676
Asset Writedown	-300	-235	-216	-	-	-
Pretax Income	45,270	38,015	28,035	34,020	26,028	24,676
Income Tax Expense	7,145	5,854	3,469	4,912	3,663	3,808
Earnings From Continuing Ops.	38,125	32,161	24,566	29,108	22,365	20,868
Minority Interest in Earnings	12	12	19	55	-5	-
Net Income	38,137	32,173	24,585	29,163	22,360	20,868
Net Income to Common	38,137	32,173	24,585	29,163	22,360	20,868
Net Income Growth	67.11%	30.86%	-15.70%	30.43%	7.15%	-14.06%
Shares Outstanding (Basic)	22,242	22,242	22,242	22,242	22,242	22,242
Shares Outstanding (Diluted)	22,242	22,242	22,242	22,242	22,242	22,242
EPS (Basic)	1.71	1.45	1.11	1.31	1.01	0.94
EPS (Diluted)	1.71	1.45	1.10	1.31	1.00	0.94
EPS Growth	67.22%	30.86%	-15.71%	30.45%	7.14%	-14.08%
Free Cash Flow	39,046	33,282	17,808	37,147	13,919	3,031
Free Cash Flow Per Share	1.76	1.50	0.80	1.67	0.63	0.14
Dividend Per Share	0.572	0.540	0.489	0.478	0.407	0.375
Dividend Growth	-17.93%	10.43%	2.30%	17.45%	8.53%	-18.66%
Operating Margin	9.19%	8.14%	7.12%	8.54%	5.43%	5.58%
Profit Margin	7.17%	6.25%	5.18%	6.61%	5.35%	5.07%
Free Cash Flow Margin	7.34%	6.47%	3.76%	8.42%	3.33%	0.74%
EBITDA	51,771	44,778	36,568	40,362	25,094	25,335
EBITDA Margin	9.74%	8.70%	7.71%	9.14%	6.00%	6.15%
D&A For EBITDA	2,891	2,887	2,789	2,676	2,399	2,353
EBIT	48,880	41,891	33,779	37,686	22,695	22,982
EBIT Margin	9.19%	8.14%	7.12%	8.54%	5.43%	5.58%
Effective Tax Rate	15.78%	15.40%	12.37%	14.44%	14.07%	15.43%

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.