Stock 601601 CHINA PACIFIC INSURANCE (GROUP) CO., LTD.
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Financials China Pacific Insurance (Group) Co., Ltd.

Equities

601601

CNE1000008M8

Life & Health Insurance

End-of-day quote Shanghai S.E.
Other stock markets
 18:00:00 2024-04-25 EDT 		5-day change 1st Jan Change
25.37 CNY +0.67% Intraday chart for China Pacific Insurance (Group) Co., Ltd. +4.58% +6.69%
04-26 China Pacific Insurance Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2024 CI
04-18 Hong Kong Shares Gain Amid Bets on Insurers MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 314,053 333,775 233,457 210,507 202,477 217,692 - -
Enterprise Value (EV) 1 324,041 343,766 210,907 187,372 181,307 188,793 222,823 217,692
P/E ratio 12.4 x 14.6 x 9.72 x 9.58 x 8.4 x 6.26 x 7.27 x 6.72 x
Yield 3.17% 3.39% 3.69% 4.16% 4.29% 4.26% 4.81% 4.61%
Capitalization / Revenue 0.81 x 0.79 x 0.69 x 0.57 x - 0.52 x 0.58 x 0.59 x
EV / Revenue 0.84 x 0.81 x 0.62 x 0.51 x - 0.45 x 0.59 x 0.59 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 1.92 x 1.72 x 1.15 x 1.03 x 0.92 x 0.87 x 0.85 x 0.78 x
Nbr of stocks (in thousands) 9,062,000 9,620,341 9,620,341 9,620,341 9,620,341 9,620,341 - -
Reference price 2 37.84 38.40 27.12 24.52 23.78 25.37 25.37 25.37
Announcement Date 20-03-22 21-03-28 22-03-27 23-03-26 24-03-28 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 385,489 422,182 339,535 368,878 - 416,576 377,460 369,338
EBITDA - - - - - - - -
EBIT 1 28,067 29,377 34,237 28,555 - 44,737 40,133 45,776
Operating Margin 7.28% 6.96% 10.08% 7.74% - 10.74% 10.63% 12.39%
Earnings before Tax (EBT) 1 27,966 29,238 30,796 25,176 32,001 44,678 39,522 42,240
Net income 1 27,741 24,584 26,834 24,609 27,257 38,968 33,756 34,874
Net margin 7.2% 5.82% 7.9% 6.67% - 9.35% 8.94% 9.44%
EPS 2 3.060 2.630 2.790 2.560 2.830 4.050 3.491 3.778
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 1.200 1.300 1.000 1.020 1.020 1.081 1.222 1.169
Announcement Date 20-03-22 21-03-28 22-03-27 23-03-26 24-03-28 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q2 2023 S1 2023 Q3 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 S1 2025 S2
Net sales 165,103 235,481 186,701 200,071 - - - - - 105,464 90,248 - - - - - - - - - - - - -
EBITDA - - - - - - - - - - - - - - - - - - - - - - - -
EBIT - - - 21,222 - 13,015 - - 15,905 - - 12,650 - 22,973 - - - - 20,407 - - 14,752 21,285 15,691
Operating Margin - - - 10.61% - - - - - - - - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - - - - - - - - - - -
Net income - 14,239 - 17,304 4,148 - 5,437 7,864 13,301 6,971 4,337 - - 18,332 4,817 - - - - - - - - -
Net margin - 6.05% - 8.65% - - - - - 6.61% 4.81% - - - - - - - - - - - - -
EPS 1 1.270 1.570 1.060 1.800 0.4300 0.9900 - 0.8100 1.380 0.7300 - 1.180 0.7000 1.910 0.5000 0.9200 1.220 0.7300 1.840 0.6700 0.7300 1.320 1.930 1.400
Dividend per Share - - - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 20-03-22 20-08-23 21-03-28 21-08-29 22-03-27 22-03-27 22-04-28 22-08-28 22-08-28 22-10-28 23-03-26 23-03-26 23-08-27 23-08-27 23-10-27 24-03-28 24-04-26 - - - - - - -
1CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 9,988 9,991 - - - - 5,131 -
Net Cash position 1 - - 22,550 23,135 21,170 28,898 - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 16.9% 12.6% 12.1% 10.8% 11.4% 13.7% 12.2% 11.5%
ROA (Net income/ Total Assets) 1.94% 1.49% 1.44% 1.19% 1.23% 1.45% 1.31% 1.32%
Assets 1 1,432,163 1,649,933 1,858,568 2,061,228 2,207,581 2,680,977 2,581,748 2,637,973
Book Value Per Share 2 19.70 22.40 23.60 23.80 25.90 29.10 29.90 32.70
Cash Flow per Share - - 11.30 15.40 - - - -
Capex 1 - - - - - 4,159 4,555 5,010
Capex / Sales - - - - - 1.6% 1% 1.36%
Announcement Date 20-03-22 21-03-28 22-03-27 23-03-26 24-03-28 - - -
1CNY in Million2CNY
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for China Pacific Insurance (Group) Co., Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
24
Last Close Price
25.37 CNY
Average target price
27.87 CNY
Spread / Average Target
+9.86%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Life Insurance

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Life Insurance
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