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    Multi-line insurance
New China Life Insurance Co., Ltd. Class A

New China Life Insurance Co., Ltd. Class A

4.40
EUR
-0.16
(-3.51%)
3.15EPS
1.65P/E
24.52BMarket Cap
Oct 30Next Earn
New China Life Insurance Co., Ltd. Class A
MUN:NCL
(Munich Stock Exchange)

Recent

price

4.40

P/E

ratio

1.65

div

yld

12.74%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
56.39
32.01
24.79
27.45
30.2
33.52
30.88
30.58
32.61
36.94
43.72
47.07
22.66
14.85
27.33
32.23
93.42
Revenue per Share
1.24
0.82
0.62
0.94
1.36
1.83
1.05
1.14
1.68
3.09
3.03
3.17
4.56
1.85
5.56
7.69
24.44
Basic EPS, GAAP
33.65
15.95
11.22
11.52
4.82
1.06
1.14
0.82
1.26
7.86
13.6
14.97
18.39
18.95
20.19
23.2
- -
Free Cash Flow per Basic Share
- -
- -
0.2
0.16
0.25
0.34
0.38
0.45
0.38
0.54
0.93
1.04
1.02
0.8
1
2.55
4.34
Dividend per Share
3.62
6.64
7.61
8.34
10.26
12.26
12.54
13.51
13.91
17.91
21.56
23.01
20.78
22.28
20.41
23.65
26.21
Book Value per Share
3.59
6.63
7.59
8.02
9.92
11.91
12.16
13.12
13.13
17.12
20.76
22.2
19.93
21.42
19.55
22.99
25.58
Tangible Book Value per Share
1,818
3,412
4,717
4,707
4,724
4,711
4,728
4,703
4,715
4,713
4,718
4,717
4,717
4,720
4,714
4,716
1,438
Basic Weighted Avg Shares
102,513
109,209
116,921
129,230
142,648
157,918
146,025
143,810
153,763
174,065
206,275
222,002
106,893
70,100
128,861
151,980
134,313
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
181
201
226
297
359
404
466
564
1,113
1,262
1,518
1,617
1,784
1,770
1,738
1,691
- -
Depreciation Expense
2,249
2,799
2,933
4,422
6,406
8,601
4,942
5,383
7,922
14,559
14,294
14,947
21,500
8,712
26,229
36,284
35,137
Net Income, GAAP
0.22
14.5
- -
10.79
17.67
26.99
23.74
26.55
24.61
- -
7.71
4.59
2.6
- -
6.78
10.45
10.68
Effective Tax Rate (%)
2.19
2.56
2.51
3.42
4.49
5.45
3.38
3.74
5.15
8.36
6.93
6.73
20.11
12.43
20.35
23.87
26.16
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
5,000
15,000
15,000
19,000
19,000
14,000
4,000
4,000
961
11,064
11,040
10,855
21,022
31,099
20,800
20,832
LT Debt
6,573
31,313
35,878
39,318
48,364
57,841
59,125
63,723
65,596
84,461
101,680
108,514
97,996
105,092
96,269
111,578
123,615
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
36.96
13.05
- -
8.4
10.53
11.93
6.59
7.64
11.54
- -
14.42
12.87
83.63
- -
20.69
27.93
27.49
Return on Capital (%)
41.63
14.78
8.73
11.76
14.61
16.2
8.45
8.76
12.25
19.41
15.36
14.22
20.83
8.58
26.06
34.92
34.55
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
20,173
20,313
20,228
LT Finance Leases
627
610
604
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
4,716
4,716
4,716
Market Capitalization
232,556
189,867
190,065

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
42,923
36,164
33,094
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.39%
2.35%
15.9%
Free Cash Flow
68.64%
11.49%
14.96%
Net Income, GAAP
32.39%
45.67%
38.34%
Sales/Revenue/Turnover
5.27%
4.62%
17.94%
Total Cash Common Dividend
29.85%
33.66%
155.54%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
25,697
28,379
50,307
24,478
128,861
2025
32,278
35,217
- -
18,971
151,980
2026
20,613
59,512
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1.05
16.47
2.04
14.31
5.56
2025
1.25
26.44
- -
10.04
7.69
2026
1.38
46.79
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.93
0.58
4.11
1
2025
0.09
0.38
- -
13.39
2.55
2026
0.05
3.77
- -
- -
- -
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Business
New China Life Insurance Company Ltd. (601336.SS) provides life insurance products and services to individuals and institutions throughout China. Founded in September 1996 and headquartered in Beijing, the company operates nationwide marketing and service networks, serving over 31 million individual customers and 78,000 institutional customers through diversified channels including agents and banks; its core offerings encompass traditional life insurance, participating life insurance, universal life insurance, investment-linked insurance, health insurance, and accident insurance for personal and group policies; through subsidiaries such as New China Asset Management Company, New China Asset Management Company (Hong Kong), New China Pension, New China Health Technology, and New China Electronic Commerce, it manages insurance funds, provides asset management, investment management, real estate development and leasing, training, e-commerce, and medical services, while promoting old-age care and healthcare industries. The company, partially owned by Central Huijin with a 31% stake and dually listed on the Shanghai and Hong Kong stock exchanges since 2011, recently completed the acquisition of a 5.45% equity stake in Bank of Hangzhou Co. Ltd. in June 2025 for CNY 4.32 billion following regulatory approval in April 2025, enhancing financial synergies and long-term funding support; it also increased holdings in Beijing Enterprise Holdings Ltd. (BEIJING ENT) Hong Kong shares twice in early 2025, acquiring 0.15 million shares each time to optimize asset allocation toward high-dividend assets; additionally, the company pursues strategic diversification, including partnerships like with Huize Holding for customized annuity products, participation in green finance initiatives, and development of over 40 new insurance products by 2023 to align with customer-centric ecosystems and national economic strategies.

Company News

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