China Life Insurance Company Limited (HKEX:2628) Annual Report 2021



The latest annual report of China Life Insurance Company Limited (2628) was published on 31 Dec 2021. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - 2628 Annual Results

Amounts in CNY

Total Revenue
794.69B
Gross Profit
123.66B
EBIT
68.01B
Net Tangible Assets
470.18B
Net Income
50.92B
Capital Expenditures
-5.47B

2628 Income Statement 2021 Annual Report

As per the latest Income Statement of 2628, the Net revenue increased by ¥15.828B (2%) compared to the previous period. The operating income in 2021 increased by ¥307.00M (0%). The net income as per the annual report was 50.92B which increased by ¥664.00M (1%) compared to previous year.

Income Statement Report (2021/2020)

2021 2020
Total Revenue 794.69B 778.86B
Gross Profit 123.66B 118.74B
Operating Income 68.01B 67.71B
Income Before Tax 50.49B 54.48B
Net Income 50.92B 50.26B

Balance Sheet - 2628 2021 Annual Report

Read further: 2628 Balance Sheet Detailed Analysis

The latest balance sheet from annual result of China Life Insurance Company Limited showed the company increased the cash on balance sheet by ¥19.539B (54%). The Net tangible assets of 2628 on the balance sheet were at 470.18B which is ¥28.461B (6%) more than previous annual report. The total stockholder equity also increased by ¥28.529B (6%) compared to previous reporting period.

Balance Sheet Statement Report (2021/2020)

2021 2020
Cash 55.8B 36.26B
Total Assets 4.89T 4.25T
Long Term Debt 51.41B 52.91B
Total Liabilities 4.4T 3.8T
Total Shareholder Equity 478.58B 450.06B
Net Tangible Assets 470.18B 441.71B

Cash Flow Statement - 2628 2021 Annual Report

The 2021 annual cash flow statement of China Life Insurance Company Limited showed that the net income increased by ¥664.00M (1%) compared to previous reporting period. Also the capital expenditure of 2628 increased by ¥1.994B (27%).

As of 2021, the total cash from investing activities was -393.73B and total cash from financing activities was 111.14B.

Cash Flow Statement Report (2021/2020)

2021 2020
Net Income 50.92B 50.26B
Capital Expenditures -5.47B -7.47B
Dividends Paid -26.66B -24.77B
Total Cash From From Investing Activities -393.73B -292.8B
Total Cash From From Financing Activities 111.14B -7.76B

China Life Insurance Company Limited Annual Report History

Income Statement

Income Statement history of China Life Insurance Company Limited (HKEX:2628)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Total Revenue 794.69B 778.86B 689.17B 518.79B
Cost Of Revenue 671.03B 660.13B 565.38B 445.62B
Gross Profit 123.66B 118.74B 123.79B 73.17B
Research Development - - - -
Selling General Administrative 41.83B 38.7B 41.17B 38.3B
Non Recurring - - - -
Other Operating Expenses 13.81B 12.33B 6.78B 4.89B
Total Operating Expenses 726.68B 711.16B 613.33B 488.82B
Operating Income 68.01B 67.71B 75.84B 29.98B
Total Other Income Expense Net -17.52B -13.23B -16.05B -16.06B
Ebit 68.01B 67.71B 75.84B 29.98B
Interest Expense -17.83B -13.03B -15.65B -15.56B
Income Before Tax 50.49B 54.48B 59.8B 13.92B
Income Tax Expense -1.92B 3.1B 781M 1.99B
Minority Interest 8.07B 6.88B 5.58B 4.92B
Net Income From Continuing Ops 52.41B 51.37B 59.01B 11.94B
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income 50.92B 50.26B 58.29B 11.39B
Net Income Applicable To Common Shares 50.92B 50.06B 57.89B 11.01B

Balance Sheet Statement

Balance Sheet Statement history of China Life Insurance Company Limited (HKEX:2628)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Cash 55.8B 36.26B 30.52B 30.78B
Short Term Investments 12.91B 7.95B 4.47B 9.9B
Net Receivables 36.53B 27.01B 23.9B 28.71B
Other Current Assets 59.05B 69.55B 69.67B 72.61B
Total Current Assets 374.41B 304.59B 275.77B 280.72B
Long Term Investments 3.75T 3.19T 2.74T 2.44T
Property Plant Equipment 56.15B 54.85B 54.24B 46.47B
Intangible Assets 8.41B 8.34B 8.07B 8.12B
Other Assets 704.27B 695.21B 646.19B 480.84B
Deferred Long Term Asset Charges 121M 87M 128M 1.26B
Total Assets 4.89T 4.25T 3.73T 3.25T
Accounts Payable 317.74B 302.19B 276.66B 231.63B
Short Long Term Debt 794M - 3.13B 15.49B
Other Current Liab 63.88B 68.88B 75.13B 63.71B
Long Term Debt 51.41B 52.91B 50.79B 3.66B
Other Liab 3.71T 3.22T 2.77T 2.41T
Deferred Long Term Liab 822M 1.06B 1.12B 931M
Minority Interest 8.07B 6.88B 5.58B 4.92B
Total Current Liabilities 643.75B 516.49B 497.09B 522.3B
Total Liab 4.4T 3.8T 3.32T 2.93T
Common Stock 28.27B 28.27B 28.27B 28.27B
Retained Earnings 345.72B 312.93B 283.54B 232.98B
Treasury Stock 50.3B 54.86B 36.95B 2.18B
Capital Surplus 54.3B 54B 55.01B 54.95B
Other Stockholder Equity 50.3B 54.86B 36.95B 2.18B
Total Stockholder Equity 478.58B 450.06B 403.76B 318.37B
Net Tangible Assets 470.18B 441.71B 395.69B 310.25B

Cash Flow Statement

Cash Flow Statement history of China Life Insurance Company Limited (HKEX:2628)

31 Dec 2021 31 Dec 2020 31 Dec 2019 31 Dec 2018
Net Income 50.92B 50.26B 58.29B 11.39B
Depreciation 4.9B 4.75B 4.04B 2.38B
Change To Netincome 255.88B 248.44B 182.97B 90.41B
Change To Account Receivables 3.6B -1.55B -8.62B -8.07B
Change To Liabilities -6.74B -3.48B 167M -
Change To Operating Activities 22.03B 27.15B 40.77B 60.2B
Total Cash From Operating Activities 286.45B 304.02B 286.03B 147.55B
Capital Expenditures -5.47B -7.47B -11.41B -19.55B
Investments -492.24B -418.14B -346.91B -309.65B
Other Cashflows From Investing Activities 174.49B 156.44B 142.01B 125.54B
Total Cashflows From Investing Activities -393.73B -292.8B -247.51B -238.37B
Dividends Paid -26.66B -24.77B -8.25B -15.83B
Net Borrowings 115.69B 3.75B -40.03B 105.56B
Other Cashflows From Financing Activities 22.1B 22.32B 12.2B 3.23B
Total Cash From Financing Activities 111.14B -7.76B -36.08B 92.96B
Effect Of Exchange Rate -71M -144M 55M 81M
Change In Cash 3.79B 3.32B 2.5B 2.22B