1. People's Republic of China Stocks

  2. •

    Financial Services

  3. •

    Insurance - Life
China Life Insurance Company Limited

China Life Insurance Company Limited

601628.SS
China Life Insurance Company LimitedCN flagShanghai Stock Exchange
37.52
CNY
-1.26
- -
1.06TMarket Cap
China Life Insurance Company Limited
601628.SS
(Shanghai Stock Exchange)

Recent

price

37.52

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
13.7
13.59
14.19
14.94
15.64
17.87
18.77
22.63
21.74
25.89
28.76
30.07
29.22
14.02
10.71
21.4
10.45
Revenue per Share
1.19
0.65
0.39
0.88
1.14
1.22
0.66
1.13
0.39
2.05
1.77
1.8
1.14
1.81
3.78
5.45
0.63
Basic EPS, GAAP
6.15
4.57
4.47
2.29
2.59
-0.96
2.89
6.7
4.38
9.66
10.44
9.96
12.4
13.44
13.25
16.16
-0.06
Free Cash Flow per Basic Share
0.7
0.4
0.3
0.29
0.47
0.57
0.6
0.45
0.54
0.29
0.87
0.95
0.94
0.78
0.95
0.94
0.42
Dividend per Share
3.83
3.84
3.83
4.38
4.89
5.32
5.2
5.87
5.52
6.99
7.47
8.13
8.17
10.49
13.81
18.18
18.82
Book Value per Share
7.32
6.62
7.64
7.68
9.94
11.25
10.41
11.17
10.79
14.11
15.8
16.97
15.51
11.65
18.13
21.23
21.37
Tangible Book Value per Share
28,257
28,202
28,362
28,142
28,255
28,442
28,980
28,542
29,218
28,433
28,394
28,203
28,142
28,278
28,290
28,271
28,268
Basic Weighted Avg Shares
387,020
383,175
402,342
420,488
441,862
508,383
543,916
646,037
635,270
736,000
816,677
848,111
822,305
396,474
302,921
605,114
295,448
Sales/Revenue/Turnover
10.14
- -
2.73
6.26
9.14
9.03
4.38
6.45
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
1,642
1,754
1,799
1,880
2,007
1,913
1,928
2,042
2,380
4,043
4,749
4,939
4,928
5,016
5,029
4,892
- -
Depreciation Expense
33,626
18,331
11,061
24,765
32,211
34,699
19,127
32,253
11,395
58,287
50,257
50,766
32,082
51,184
106,935
154,078
17,908
Net Income, GAAP
17.55
9.86
- -
15.09
19.52
23.39
17.86
21.4
14.26
1.31
5.7
- -
- -
- -
5.44
13.81
- -
Effective Tax Rate (%)
8.69
4.78
2.75
5.89
7.29
6.83
3.52
4.99
1.79
7.92
6.15
5.99
3.9
12.91
35.3
25.46
6.06
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
29,990
67,981
67,985
70,612
70,637
53,437
18,014
19,157
57,011
55,571
54,922
49,340
48,973
49,205
36,784
36,911
LT Debt
210,475
193,388
223,101
222,585
287,331
326,214
307,648
325,310
323,290
409,342
456,937
487,134
445,121
337,716
521,248
608,393
611,987
Total Equity
15.12
- -
- -
7.68
10.01
9.24
5.11
9.17
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
50.84
34.32
- -
15.02
17.61
17.14
10.39
17.7
7.63
27.52
19.56
- -
- -
- -
26
29.86
- -
Return on Capital (%)
31.07
16.95
10.2
21.35
24.64
23.97
12.66
20.27
6.93
32.38
24.46
23
13.97
19.44
31.12
34.07
3.76
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
6
6
LT Borrowings
- -
35,245
35,431
LT Finance Leases
- -
1,539
1,480
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
28,265
28,265
Market Capitalization
1,119,325
1,284,795
1,027,263

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
- -
143,319
137,688
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
6
6
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.26%
8.99%
16.72%
Free Cash Flow
-14.19%
9.68%
21.89%
Net Income, GAAP
53.36%
35.35%
44.09%
Sales/Revenue/Turnover
7.61%
5.04%
99.76%
Total Cash Common Dividend
16.79%
2.16%
-1.16%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
116,881
64,590
189,866
54,663
302,921
2025
61,191
124,770
- -
80,539
605,114
2026
90,139
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.73
- -
- -
- -
3.78
2025
1.02
- -
- -
- -
5.45
2026
0.69
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.11
- -
- -
- -
0.95
2025
0.06
- -
- -
- -
0.94
2026
0.05
- -
- -
- -
- -
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Business
China Life Insurance Company Limited (601628.SS) operates as China's largest life insurer, primarily engaged in underwriting life, health, accident, and other personal insurance products; offering individual and group policies including participating and non-participating life insurance, annuities, critical illness protection, children/women/old-age security, medical, and accident coverage; and providing short-term and long-term health and accident insurance to individuals and groups through channels such as exclusive agents, bancassurance, and other platforms. Founded in 1949 and headquartered in Beijing, the company functions as a subsidiary of China Life Insurance (Group) Company, commanding approximately 16% market share in China's life insurance sector as of end-2024, with operations concentrated in the People's Republic of China across segments encompassing life insurance, health insurance, accident insurance, and other businesses. In recent developments, China Life undertakes a major corporate reorganization including manpower changes to drive future transformation, as announced in late 2024; reports first-half 2025 profit growth with new business value expanding 20.3% and gross written premiums rising 7.3% amid improved investment returns; advances agency restructuring that boosts productivity and supports long-term growth; reissues CNY35 billion in capital supplementary bonds in September 2024 to maintain a low financial leverage ratio of 3.1%; and focuses on building a senior-care ecosystem while reforming its agent team.