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
836.27B
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 ¥24.133B (3%) 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)

20212020
Total Revenue836.27B812.14B
Gross Profit123.66B118.74B
Operating Income68.01B67.71B
Income Before Tax50.49B54.48B
Net Income50.92B50.26B

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)

20212020
Cash55.8B36.26B
Total Assets4.89T 4.25T
Long Term Debt51.41B52.91B
Total Liabilities4.4T 3.8T
Total Shareholder Equity478.58B450.06B
Net Tangible Assets470.18B441.71B

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)

20212020
Net Income50.92B50.26B
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 Activities111.14B-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 202131 Dec 202031 Dec 201931 Dec 2018
Total Revenue836.27B812.14B740.02B635.02B
Cost Of Revenue712.61B693.4B616.23B561.85B
Gross Profit123.66B118.74B123.79B73.17B
Research Development----
Selling General Administrative41.83B38.7B41.17B38.3B
Non Recurring----
Other Operating Expenses13.81B12.33B6.78B4.89B
Total Operating Expenses768.26B744.43B664.18B605.04B
Operating Income68.01B67.71B75.84B29.98B
Total Other Income Expense Net-17.52B-13.23B-16.05B-16.06B
Ebit68.01B67.71B75.84B29.98B
Interest Expense-17.83B-13.03B-15.65B-15.56B
Income Before Tax50.49B54.48B59.8B13.92B
Income Tax Expense-1.92B3.1B781M1.99B
Minority Interest8.07B6.88B5.58B4.92B
Net Income From Continuing Ops52.41B51.37B59.01B11.94B
Discontinued Operations----
Extraordinary Items----
Effect Of Accounting Charges----
Other Items----
Net Income50.92B50.26B58.29B11.39B
Net Income Applicable To Common Shares50.92B50.06B57.89B11.01B

Balance Sheet Statement

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

31 Dec 202131 Dec 202031 Dec 201931 Dec 2018
Cash55.8B36.26B30.52B30.78B
Short Term Investments12.91B7.95B4.47B9.9B
Net Receivables36.53B27.01B23.9B28.71B
Other Current Assets59.05B69.55B69.67B72.61B
Total Current Assets374.41B304.59B275.77B280.72B
Long Term Investments3.75T3.19T2.74T2.44T
Property Plant Equipment56.15B54.85B54.24B46.47B
Intangible Assets8.41B8.34B8.07B8.12B
Other Assets704.27B695.21B646.19B480.84B
Deferred Long Term Asset Charges121M87M128M1.26B
Total Assets4.89T4.25T3.73T3.25T
Accounts Payable317.74B302.19B276.66B231.63B
Short Long Term Debt794M-3.13B15.49B
Other Current Liab63.2B68.14B75.13B63.71B
Long Term Debt51.41B52.91B50.79B3.66B
Other Liab3.71T3.23T2.77T2.41T
Deferred Long Term Liab822M1.06B1.12B931M
Minority Interest8.07B6.88B5.58B4.92B
Total Current Liabilities643.08B515.75B497.09B522.3B
Total Liab4.4T3.8T3.32T2.93T
Common Stock28.27B28.27B28.27B28.27B
Retained Earnings345.72B312.93B283.54B232.98B
Treasury Stock50.3B54.86B36.95B2.18B
Capital Surplus54.3B54B55.01B54.95B
Other Stockholder Equity50.3B54.86B36.95B2.18B
Total Stockholder Equity478.58B450.06B403.76B318.37B
Net Tangible Assets470.18B441.71B395.69B310.25B

Cash Flow Statement

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

31 Dec 202131 Dec 202031 Dec 201931 Dec 2018
Net Income50.92B50.26B58.29B11.39B
Depreciation4.9B4.75B4.04B2.38B
Change To Netincome255.88B248.44B182.97B90.41B
Change To Account Receivables3.6B-1.55B-8.62B-8.07B
Change To Liabilities-6.74B-3.48B167M-
Change To Operating Activities22.03B27.15B40.77B60.2B
Total Cash From Operating Activities286.45B304.02B286.03B147.55B
Capital Expenditures-5.47B-7.47B-11.41B-19.55B
Investments-492.24B-418.14B-346.91B-309.65B
Other Cashflows From Investing Activities174.49B156.44B142.01B125.54B
Total Cashflows From Investing Activities-393.73B-292.8B-247.51B-238.37B
Dividends Paid-26.66B-24.77B-8.25B-15.83B
Net Borrowings115.69B3.75B-40.03B105.56B
Other Cashflows From Financing Activities22.1B22.32B12.2B3.23B
Total Cash From Financing Activities111.14B-7.76B-36.08B92.96B
Effect Of Exchange Rate-71M-144M55M81M
Change In Cash3.79B3.32B2.5B2.22B