CHINA PACIFIC INSURANCE (GROUP) CO., LTD. Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
中國太平洋保險（集團）股份有限公司
CHINA PACIFIC INSURANCE (GROUP) CO., LTD.
(A joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 02601)
OVERSEAS REGULATORY ANNOUNCEMENT
This overseas regulatory announcement is made pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The announcement is attached hereof for information purpose only.
By Order of the Board
China Pacific Insurance (Group) Co., Ltd.
KONG Qingwei
Chairman
Hong Kong, 30 August 2021
As at the date of this announcement, the Executive Directors of the Company are Mr. KONG Qingwei and Mr. FU Fan; the Non-executive Directors are Mr. HUANG Dinan, Mr. WANG Tayu, Mr. WU Junhao, Mr. CHEN Ran, Mr. ZHOU Donghui, Ms. LIANG Hong, Ms. LU Qiaoling and Mr. John Robert DACEY; and the Independent Non- executive Directors are Ms. LIU Xiaodan, Mr. CHEN Jizhong, Ms. LAM Tyng Yih, Elizabeth, Mr. WOO Ka Biu, Jackson, and Mr. JIANG Xuping.
2021 Interim Results Announcement
China Pacific Insurance (Group) Co., Ltd.
August 31, 2021
Disclaimer
- These materials are for information purposes only and do not constitute or form part of an offer or invitation to sell or issue or the solicitation of an offer or invitation to buy or subscribe for securities of China Pacific Insurance (Group) Co., Ltd. (the "Company") or any holding company or any of its subsidiaries in any jurisdiction. No part of these materials shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.
- The information contained in these materials has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information and opinions contained in these materials are provided as of the date of the presentation, are subject to change without notice and will not be updated or otherwise revised to reflect any developments, which may occur after the date of the presentation. The Company nor any of its respective affiliates or any of its directors, officers, employees, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any information contained or presented in these materials or otherwise arising in connection with these materials.
- These materials contain statements that reflect the Company's current beliefs and expectations about the future as of the respective dates indicated herein. These forward-looking statements are based on a number of assumptions about the Company's operations and factors beyond the Company's control and are subject to significant risks and uncertainties, and, accordingly, actual results may differ materially from these forward- looking statements. You should not place undue reliance on any forward-looking information. The Company assumes no obligations to update or otherwise revise these forward-looking statements for new information, events or circumstances that occur subsequent to such dates.
Steady growth of overall business results
Group Operating 1) | Group Net Profits | 2) | Group Embedded | |
Income | Value | |||
17.304bn | ||||
252.512bn | 474.431bn | |||
+7.2% | +21.5% | +3.3% |
Group Number 3) | ||
Group Comprehensive | ||
of Customers | Solvency Margin Ratio | |
159.85mn | 279% | |
+10.91mn | -9pt |
Note： 1) Based on PRC GAAP.
- Attributable to equity holders of the parent.
- Figures for the same period of last year have been restated.
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Group OPAT attributable to parent RMB18.279bn, an increase of 4.9%
(unit: RMB million)
Others and consolidation cancelling-out Life insurance
OPAT attributable to minority shareholders
OPAT = net profits − short-term investment movements − changes to evaluation assumptions − material one-off factors
+4.9% | |||||||||||||||||||
17,428 | 18,279 | 17,795 | （2,292） 3,290 | - | 18,793 | （514) | 18,279 | ||||||||||||
4,444 | 4,500 | ||||||||||||||||||
OPAT | +6.7% | OPAT | |||||||||||||||||
17,835 | 13,392 | 14,293 | 18,793 | ||||||||||||||||
(407) | (514) | ||||||||||||||||||
1H 2021 | Short-term | Changes to | Material | 1H 2021 | OPAT | 1H 2021 OPAT | |||||||||||||
1H 2020 | 1H 2021 | ||||||||||||||||||
net profits | investment | evaluation | one-off | OPAT | attributable to | attributable to | |||||||||||||
movements1) assumptions2) | factors | minority | the parent | ||||||||||||||||
Notes: | shareholders | ||||||||||||||||||
- Short-terminvestment movements refer to the difference between actual investment income from life insurance, etc. and long-term investment assumption (5%), while adjusting for ensuing changes to liabilities on insurance and investment contracts, and considering the impact of corporate income tax.
- Changes to evaluation assumptions are based on amounts arising from accounting estimates changes, while considering the impact of corporate income tax.
- Numbers may not add up due to rounding.
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China Pacific Insurance (Group) Co. Ltd. published this content on 29 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 August 2021 12:01:05 UTC.
