China Life Insurance Company Limited (SHA:601628)

SHA:601628 Income Statement

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

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

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