The People's Insurance Company (Group) of China Limited (SHA:601319)

SHA:601319 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	547,440	537,709	503,900	468,802	529,891	520,581
Total Interest & Dividend Income	8,036	1,533	17,086	10,713	38,708	37,318
Gain (Loss) on Sale of Investments	22,622	25,166	-13,565	-5,185	11,501	9,070
Other Revenue	17,581	17,122	17,906	18,493	14,448	15,170
Total Revenue	595,679	581,530	525,327	492,823	594,548	582,139
Revenue Growth (YoY)	16.77%	10.70%	6.59%	-17.11%	2.13%	5.67%
Policy Benefits	506,888	500,301	479,397	439,680	423,403	382,837
Policy Acquisition & Underwriting Costs	-	-	-	-	50,939	62,489
Selling, General & Administrative	9,170	9,131	9,224	7,752	90,360	107,584
Provision for Bad Debts	114	-65	-6	-	-	-
Other Operating Expenses	109	-397	-438	-434	1,566	1,589
Total Operating Expenses	516,342	509,031	488,252	447,079	566,926	555,514
Operating Income	79,337	72,499	37,075	45,744	27,622	26,625
Interest Expense	-1,474	-1,471	-1,463	-2,206	-5,460	-5,607
Earnings From Equity Investments	-	-	-	-	13,571	11,413
Currency Exchange Gain (Loss)	19	64	228	1,002	-331	-816
Other Non Operating Income (Expenses)	-93	-69	-60	-205	-	-
EBT Excluding Unusual Items	77,789	71,023	35,780	44,335	35,402	31,615
Gain (Loss) on Sale of Assets	163	174	209	321	330	128
Asset Writedown	-473	-472	-463	-182	-143	-133
Other Unusual Items	-1,493	-1,493	-1,969	-1,757	-	-
Pretax Income	75,986	69,232	33,557	42,717	35,589	31,610
Income Tax Expense	13,814	12,451	2,746	7,270	5,219	3,377
Earnings From Continuing Ops.	62,172	56,781	30,811	35,447	30,370	28,233
Minority Interest in Earnings	-16,135	-14,630	-8,489	-10,065	-8,894	-8,197
Net Income	46,037	42,151	22,322	25,382	21,476	20,036
Net Income to Common	46,037	42,151	22,322	25,382	21,476	20,036
Net Income Growth	135.31%	88.83%	-12.06%	18.19%	7.19%	-9.48%
Shares Outstanding (Basic)	44,097	44,224	44,224	44,224	44,224	44,224
Shares Outstanding (Diluted)	44,097	44,224	44,224	44,224	44,224	44,224
Shares Change (YoY)	-1.07%	-	-	-	-	-
EPS (Basic)	1.04	0.95	0.50	0.57	0.49	0.45
EPS (Diluted)	1.00	0.91	0.48	0.56	0.49	0.45
EPS Growth	144.35%	91.67%	-14.14%	14.33%	7.92%	-10.09%
Free Cash Flow	87,192	83,593	66,976	64,545	69,076	20,251
Free Cash Flow Per Share	1.98	1.89	1.51	1.46	1.56	0.46
Dividend Per Share	0.180	0.180	0.156	0.166	0.164	0.156
Dividend Growth	15.38%	15.38%	-6.02%	1.22%	5.13%	34.48%
Operating Margin	13.32%	12.47%	7.06%	9.28%	4.65%	4.57%
Profit Margin	7.73%	7.25%	4.25%	5.15%	3.61%	3.44%
Free Cash Flow Margin	14.64%	14.37%	12.75%	13.10%	11.62%	3.48%
EBITDA	81,880	75,045	39,635	48,370	30,144	29,002
EBITDA Margin	13.75%	12.90%	7.54%	9.81%	5.07%	4.98%
D&A For EBITDA	2,543	2,546	2,560	2,626	2,522	2,377
EBIT	79,337	72,499	37,075	45,744	27,622	26,625
EBIT Margin	13.32%	12.47%	7.06%	9.28%	4.65%	4.57%
Effective Tax Rate	18.18%	17.98%	8.18%	17.02%	14.67%	10.68%
Revenue as Reported	622,220	622,220	553,467	528,527	594,606	581,605

Updated Oct 29, 2024. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.