China Pacific Insurance (Group) Co Ltd Class H (HK:2601)
:2601
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China Pacific Insurance (Group) Co
(2601)
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Rating:69Neutral
Price Target:
HK$37.00
â–²(7.31% Upside)
Action:DowngradedDate:04/30/26
The score is driven primarily by strong cash flow/earnings quality and generally solid profitability, supported by an attractive valuation (low P/E and ~3.5% yield). These positives are tempered by higher recent leverage and only mixed technical momentum (negative MACD and below key moving averages).
Positive Factors
Very strong cash generation
Very large and growing operating and free cash flows provide durable funding for claims and capital needs, enabling reinvestment in underwriting, reserves, and asset management. High FCF coherence with reported earnings supports earnings quality and operational resilience over months.
Negative Factors
Marked increase in leverage
A meaningful step-up in leverage reduces financial flexibility and increases balance-sheet risk for an insurer. Higher debt levels can tighten capital management, raise regulatory and solvency sensitivity, and limit ability to absorb underwriting or investment shocks over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Very strong cash generation
Very large and growing operating and free cash flows provide durable funding for claims and capital needs, enabling reinvestment in underwriting, reserves, and asset management. High FCF coherence with reported earnings supports earnings quality and operational resilience over months.
Read all positive factors
China Pacific Insurance (Group) Co (2601) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$389.14B
Dividend Yield3.28%
Average Volume (3M)16.70M
Price to Earnings (P/E)9.9
Beta (1Y)1.37
Revenue Growth10.54%
EPS Growth27.66%
CountryHK
Employees94,990
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)1.08
Shares Outstanding2,775,300,000
10 Day Avg. Volume14,634,079
30 Day Avg. Volume16,702,618
Financial Highlights & Ratios
PEG Ratio0.36
Price to Book (P/B)1.01
Price to Sales (P/S)0.81
P/FCF Ratio1.18
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$42.75Price Target Upside23.98% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)5.39
Revenue Forecast (FY)HK$466.52B
China Pacific Insurance (Group) Co Business Overview & Revenue Model
Company Description
China Pacific Insurance (Group) Co., Ltd., together with its subsidiaries, offers insurance products in the People's Republic of China. It operates through Life and Health Insurance, Property and Casualty Insurance, and Other Businesses segments. ...
How the Company Makes Money
China Pacific Insurance (Group) Co., Ltd. primarily makes money through (1) underwriting income and (2) investment income, supplemented by fee-based income from asset management and other insurance-related services.
1) Underwriting income (insura...
China Pacific Insurance (Group) Co Earnings Call Summary
Earnings Call Date:Oct 30, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Aug 24, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted significant growth in net profit and new business value, alongside improved product mix and asset management growth. However, these positive aspects were balanced by challenges in CPIC Life revenue, a decrease in Group Channel GWP, and pressures on net investment yield, with additional impacts from catastrophes on P&C business.Positive Updates
Increased Net Profit
The group realized a net profit of CNY 38.3 billion, up 65.5% year-on-year.
Negative Updates
Decline in CPIC Life Revenue
CPIC Life's revenue was CNY 62.3 billion, down 2.5% year-on-year.
Read all updates
Q3-2024 Updates
Positive
Negative
Increased Net Profit
The group realized a net profit of CNY 38.3 billion, up 65.5% year-on-year.
Read all positive updates
Company Guidance
In the Q3 2024 earnings call for CPIC Group, the executives provided a comprehensive overview of the company's performance metrics and strategic focuses. The group reported an insurance revenue of CNY 209.4 billion, a 2.3% increase year-on-year, with CPIC Life contributing CNY 62.3 billion, despite a 2.5% decrease, and CPIC P&C delivering CNY 145.2 billion, up 4.1%. The net profit soared to CNY 38.3 billion, marking a significant 65.5% rise. CPIC Life's new business value saw a remarkable 37.9% growth to CNY 14.2 billion, with a new business margin improvement of 6.2 percentage points, reaching 20.0%. The persistency ratios improved, with the 13-month ratio increasing to 97.5% and the 25-month ratio to 92.3%. The total assets under management rose by 14.9% to CNY 2.58 trillion, although the net investment yield slightly decreased by 0.1 percentage points to 2.9%. The call also highlighted strategies like "BIG HEALTH," "BIG REGION," and "BIG DATA" to enhance customer management and business quality, along with digital innovations in AI for auditing and claims processing. Looking forward, CPIC aims to maintain high-quality growth, optimize service processes, and focus on digital transformation and risk management.China Pacific Insurance (Group) Co Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
66
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 390.15B | 376.40B | 401.90B | 321.68B | 328.96B | 436.39B |
| Gross Profit | 390.14B | 376.40B | 401.84B | 321.67B | 301.03B | 406.09B |
| EBITDA | 67.32B | 68.52B | 60.21B | 314.87B | 320.92B | 38.77B |
| Net Income | 53.71B | 52.12B | 44.96B | 27.26B | 37.38B | 26.83B |
Balance Sheet | ||||||
| Total Assets | 3.22T | 3.15T | 2.83T | 2.34T | 2.18T | 1.95T |
| Cash, Cash Equivalents and Short-Term Investments | 95.05B | 77.49B | 29.36B | 30.93B | 748.22B | 677.93B |
| Total Debt | 242.96B | 243.44B | 13.01B | 13.38B | 12.72B | 13.10B |
| Total Liabilities | 2.87T | 2.81T | 2.52T | 2.08T | 1.94T | 1.71T |
| Stockholders Equity | 318.53B | 302.27B | 291.42B | 249.59B | 228.45B | 226.74B |
Cash Flow | ||||||
| Free Cash Flow | 246.20B | 258.31B | 150.53B | 133.88B | 138.81B | 104.72B |
| Operating Cash Flow | 249.85B | 262.49B | 154.40B | 137.86B | 147.91B | 108.41B |
| Investing Cash Flow | -221.86B | -251.64B | -209.90B | -161.36B | -168.98B | -66.09B |
| Financing Cash Flow | 10.65B | 35.74B | 61.34B | 3.29B | 28.48B | -31.37B |
China Pacific Insurance (Group) Co Technical Analysis
Negative
34.48
Price Trends
35.11
Negative
35.23
Negative
33.52
Negative
Market Momentum
-0.27
Negative
44.24
Neutral
54.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2601, the sentiment is Negative. The current price of 34.48 is above the 20-day moving average (MA) of 33.09, below the 50-day MA of 35.11, and above the 200-day MA of 33.52, indicating a bearish trend. The MACD of -0.27 indicates Negative momentum. The RSI at 44.24 is Neutral, neither overbought nor oversold. The STOCH value of 54.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2601.
China Pacific Insurance (Group) Co Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$1.08T | 4.51 | 31.07% | 3.42% | 17.69% | 126.41% | |
72 Outperform | HK$205.64B | 4.31 | 38.67% | 5.24% | 39.01% | 38.60% | |
70 Outperform | HK$80.43B | 2.48 | 29.19% | 1.81% | 11.51% | 250.65% | |
70 Outperform | HK$321.63B | 8.31 | 14.21% | 3.77% | 6.50% | 25.27% | |
69 Neutral | HK$389.14B | 9.89 | 18.91% | 3.28% | 10.54% | 27.66% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | HK$1.20T | 139.89 | 13.93% | 4.25% | >-0.01% | 6.63% |
* Financial Sector Average
HK:2601
China Pacific Insurance (Group) Co
33.80
13.59
67.21%
HK:2318
Ping An Insurance Company of China
63.70
19.58
44.37%
HK:2628
China Life Insurance Co
27.40
13.74
100.54%
HK:0966
China Taiping Insurance Holdings Co
22.38
11.86
112.74%
HK:2328
PICC Property & Casualty Co
14.46
0.69
5.04%
HK:1336
New China Life Insurance Co., Ltd. Class H
50.60
24.06
90.65%
China Pacific Insurance (Group) Co Corporate Events
China Pacific Insurance Discloses Q1 2026 Solvency Report Summary for Health Unit
Apr 28, 2026
China Pacific Insurance (Group) Co., Ltd. issued an overseas regulatory announcement in Hong Kong, notifying investors that it has released a summary of the first-quarter 2026 solvency report for its subsidiary Pacific Health Insurance Co., Ltd. T...
China Pacific Insurance Publishes Overseas Regulatory Update and Solvency Disclosure
Apr 28, 2026
China Pacific Insurance (Group) Co., Ltd. has issued an overseas regulatory announcement in Hong Kong in line with local listing and securities rules, providing investors with an attached update related to its operations. The notice, dated 28 Apri...
China Pacific Insurance Discloses Q1 2026 Solvency Update for Life Unit
Apr 28, 2026
China Pacific Insurance (Group) Co., Ltd. announced an overseas regulatory filing in Hong Kong, disclosing a summary of the first-quarter 2026 solvency report for its life insurance subsidiary, China Pacific Life Insurance Co., Ltd. The disclosure...
China Pacific Insurance Grows Q1 Net Profit Despite Revenue and Core Earnings Pressure
Apr 28, 2026
China Pacific Insurance reported first-quarter 2026 operating income of RMB92.55 billion, down 1.2% year-on-year, with profit before tax falling 11.5% to RMB10.22 billion while net profit attributable to shareholders rose 4.3% to RMB10.04 billion,...
China Pacific Insurance Schedules Online Briefing on Q1 2026 Results
Apr 21, 2026
China Pacific Insurance (Group) Co., Ltd. has announced it will hold an online presentation of its 2026 first-quarter results on 29 April 2026, from 8:30 to 9:30 Beijing time. Senior management will attend the session, underscoring the companyR...
China Pacific Insurance Sets April Board Meeting to Approve Q1 2026 Results
Apr 14, 2026
China Pacific Insurance (Group) Co., Ltd. has scheduled a board meeting for 28 April 2026 to review and approve its first-quarter results for the period ended 31 March 2026 and to consider their disclosure. The meeting underscores the group’...
China Pacific Insurance Issues Q4 2025 Solvency Disclosure for Life Unit
Mar 26, 2026
China Pacific Insurance (Group) Co., Ltd. has issued an overseas regulatory announcement in Hong Kong, notifying investors that it has released a summary of the fourth-quarter 2025 solvency report for its life insurance arm, China Pacific Life Ins...
China Pacific Insurance Publishes Q4 2025 Solvency Disclosure for Property Unit
Mar 26, 2026
China Pacific Insurance (Group) Co., Ltd. has issued an overseas regulatory announcement in Hong Kong concerning a summary of the fourth-quarter 2025 solvency report of its subsidiary, China Pacific Property Insurance Co., Ltd. The disclosure, mad...
China Pacific Insurance Publishes Q4 2025 Solvency Report Summary for Health Unit
Mar 26, 2026
China Pacific Insurance (Group) Co., Ltd. has issued an overseas regulatory announcement in Hong Kong, releasing an excerpted summary of the fourth-quarter 2025 solvency report for its subsidiary Pacific Health Insurance Co., Ltd. The disclosure, ...
China Pacific Insurance Publishes Q4 2025 Solvency Summary for Agricultural Unit
Mar 26, 2026
China Pacific Insurance (Group) Co., Ltd. issued an overseas regulatory announcement in Hong Kong, disclosing that it has released a summary of the fourth-quarter 2025 solvency report for its subsidiary Pacific Anxin Agricultural Insurance Co., Lt...
China Pacific Insurance Issues Hong Kong Regulatory Notice on 2025 Solvency Report
Mar 26, 2026
China Pacific Insurance (Group) Co., Ltd. has issued an overseas regulatory announcement in Hong Kong, notifying investors that it has released an attached document related to its solvency report for 2025. The filing, made under Hong Kong listing ...
China Pacific Insurance Delivers Strong 2025 Results on Life and P&C Transformation
Mar 26, 2026
China Pacific Insurance reported robust 2025 results, with operating income rising 7.7% to RMB435.16 billion and insurance revenue up 3.4% to RMB288.91 billion. Net profit increased 19% to RMB53.51 billion, while embedded value reached RMB613.37 b...
China Pacific Insurance Proposes 2025 Final Dividend and Outlines Withholding Tax Rules
Mar 26, 2026
China Pacific Insurance (Group) Co., Ltd. has proposed a final ordinary cash dividend of RMB 1.15 per share for the financial year ended 31 December 2025, with payment scheduled for 17 July 2026, subject to shareholder approval. Details including ...
China Pacific Insurance Publishes 2025 Annual Results via Overseas Regulatory Filing
Mar 26, 2026
China Pacific Insurance (Group) Co., Ltd. has issued an overseas regulatory announcement in Hong Kong, notifying investors that it has released its 2025 Annual Results Announcement in accordance with local listing rules. The disclosure underscores...
China Pacific Insurance Schedules 2025 Results Release and Investor Presentation
Mar 18, 2026
China Pacific Insurance (Group) Co., Ltd., a leading Chinese insurance and financial services provider listed in Hong Kong, offers life, property and casualty, and related insurance products to customers in China and global investors. The group is...
China Pacific Insurance Sets March Board Meeting to Review 2025 Results
Mar 12, 2026
China Pacific Insurance (Group) Co., Ltd. has scheduled a board meeting for 26 March 2026 to review and approve its audited financial results for the year ended 31 December 2025. The board will also consider the proposal of a final dividend for sh...
China Pacific Insurance Sets Up Board Committee to Tighten Audit and Related-Party Oversight
Feb 27, 2026
China Pacific Insurance (Group) Co., Ltd. has established an Audit and Related Party Transaction Control Committee under its board to strengthen corporate governance, enhance pre-audit and professional audit functions, and reinforce internal super...
China Pacific Insurance Sets Up Nomination and Remuneration Committee to Strengthen Governance
Feb 27, 2026
China Pacific Insurance (Group) Co., Ltd. has established a nomination and remuneration committee of its board to enhance its governance structure and formalize the administration of director and senior management appointments and pay. The committ...
China Pacific Insurance Tightens Governance With New Nomination and Remuneration Committee Mandate
Feb 27, 2026
China Pacific Insurance (Group) Co., Ltd. has formalized the terms of reference for its board-level Nomination and Remuneration Committee to enhance its governance structure and align with Chinese corporate law, Hong Kong Listing Rules, and sector...
China Pacific Insurance Sets Out Board and Committee Roles
Feb 27, 2026
China Pacific Insurance (Group) Co., Ltd. has announced the current composition of its board of directors, naming Fu Fan as executive director and chairman and Zhao Yonggang as executive director and president, alongside a mix of non-executive and...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.