Stock 1339 THE PEOPLE'S INSURANCE COMPANY (GROUP) OF CHINA LIMITED 
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Financials The People's Insurance Company (Group) of China Limited 

Equities

1339

CNE100001MK7

Property & Casualty Insurance

Market Closed - Hong Kong S.E.
Other stock markets
 04:08:20 2024-04-26 am EDT 		5-day change 1st Jan Change
2.64 HKD +1.15% Intraday chart for The People's Insurance Company (Group) of China Limited  +3.53% +10.00%
Apr. 15 PICC Group Logs 253 Billion Yuan in Q1 Premium Income MT
Mar. 27 PICC's 2023 Profit Drops 10%, Operating Income Climbs 4% MT

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 294,617 251,181 183,648 204,970 191,071 211,593 - -
Enterprise Value (EV) 1 266,413 308,141 205,054 207,727 207,193 211,937 213,084 211,593
P/E ratio 5.79 x 4.6 x 3.92 x 4.32 x 4.54 x 4.14 x 3.64 x 3.58 x
Yield 4.01% 7.53% 8.53% 7.26% - 7.47% 8.7% 8.77%
Capitalization / Revenue 0.53 x 0.43 x 0.31 x 0.37 x 0.35 x 0.37 x 0.33 x 0.33 x
EV / Revenue 0.48 x 0.53 x 0.34 x 0.37 x 0.37 x 0.38 x 0.33 x 0.33 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Price to Book 0.7 x 0.45 x 0.39 x 0.46 x - 0.41 x 0.38 x 0.36 x
Nbr of stocks (in thousands) 44,223,991 44,223,991 44,223,991 44,223,991 44,223,991 44,223,991 - -
Reference price 2 2.895 2.070 1.923 2.287 2.181 2.444 2.444 2.444
Announcement Date 3/27/20 3/23/21 3/25/22 3/24/23 3/26/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 555,515 583,696 597,691 559,906 553,097 565,124 637,866 648,879
EBITDA - - - - - - - -
EBIT 1 29,796 31,445 35,828 40,721 34,293 40,408 46,407 50,244
Operating Margin 5.36% 5.39% 5.99% 7.27% 6.2% 7.15% 7.28% 7.74%
Earnings before Tax (EBT) 1 29,780 31,644 35,893 41,140 34,430 40,878 49,540 47,312
Net income 1 22,401 20,069 21,638 24,477 22,773 25,656 29,704 30,193
Net margin 4.03% 3.44% 3.62% 4.37% 4.12% 4.54% 4.66% 4.65%
EPS 2 0.5000 0.4500 0.4900 0.5300 0.4800 0.5897 0.6716 0.6830
Free Cash Flow - - - - - - - -
FCF margin - - - - - - - -
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 0.1160 0.1560 0.1640 0.1660 - 0.1826 0.2127 0.2143
Announcement Date 3/27/20 3/23/21 3/25/22 3/24/23 3/26/24 - - -
1CNY in Million2CNY
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 S2 2023 Q1 2023 S1 2023 Q3 2023 S2 2024 Q1 2024 Q2 2024 S1 2024 Q3 2024 Q4 2024 S2 2025 S1 2025 S2
Net sales 1 238,956 279,521 241,060 274,988 - - - - - - - - - - - 180,200 138,800 - 142,500 203,700 - - -
EBITDA - - - - - - - - - - - - - - - - - - - - - - -
EBIT - - - - 5,932 2,236 8,168 - - 29,861 10,860 - 30,516 - 3,777 - - 24,938 - - 14,576 26,132 15,970
Operating Margin - - - - - - - - - - - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - 27,684 - - - - - - - - - - - - - - - - - - -
Net income - 12,602 - 16,855 3,920 863 - 8,744 9,106 17,850 - 11,721 19,881 622 2,441 - - - - - - - -
Net margin - 4.51% - 6.13% - - - - - - - - - - - - - - - - - - -
EPS 2 0.1500 0.2900 0.1600 0.3800 - - 0.1100 - - 0.4000 0.1300 - 0.4400 0.0100 0.0400 0.2200 0.2300 0.3400 0.1400 0.0200 0.2000 0.3700 0.2300
Dividend per Share - - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 3/27/20 8/21/20 3/23/21 8/20/21 10/28/21 3/25/22 3/25/22 4/28/22 8/26/22 8/26/22 3/24/23 4/27/23 8/29/23 10/30/23 3/26/24 - - - - - - - -
1CNY in Million2CNY
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - 56,960 21,406 2,757 16,122 344 1,491 -
Net Cash position 1 28,204 - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow - - - - - - - -
ROE (net income / shareholders' equity) 13.2% 10.4% 10.2% 11.1% 9.64% 10.5% 11.1% 10.6%
ROA (Net income/ Total Assets) 2.04% 1.68% 1.63% 1.7% - 1.66% 2.14% 1.81%
Assets 1 1,095,441 1,193,873 1,326,427 1,442,964 - 1,545,787 1,389,630 1,671,351
Book Value Per Share 2 4.150 4.580 4.960 5.010 - 5.920 6.440 6.880
Cash Flow per Share - 0.7200 1.640 1.620 - - - -
Capex 1 - 11,616 - - - 15,954 17,176 18,586
Capex / Sales - 1.99% - - - 2.82% 2.69% 2.86%
Announcement Date 3/27/20 3/23/21 3/25/22 3/24/23 3/26/24 - - -
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 The People's Insurance Company (Group) of China Limited 

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
19
Last Close Price
2.444 CNY
Average target price
3.02 CNY
Spread / Average Target
+23.59%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Property Insurance

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