China Taiping initially rose 6.7%, earning 2.2 times more than last year

China Taiping (00966.HK) saw its net profit surge by 220.9% to HKD 27.059 billion last year, prompting its stock price to open 5.29% higher today (26th), reaching a high of HKD 22.8. It is currently trading at HKD 22.6, up 6.7%, with a turnover of 1.5912 million shares, involving HKD 35.7919 million.

China Taiping's insurance service revenue increased by 9% year-on-year to HKD 24 billion, with a net profit of HKD 27.059 billion, a growth of 220.9%, mainly due to improved performance in the insurance service sector and net investment gains, as well as a one-time benefit from new corporate tax policies; earnings per share were HKD 7.251. The final dividend is HKD 1.23. The same period last year paid HKD 0.35.

During the year, the profit from life insurance business was HKD 34.586 billion, an increase of 229.2%. The total net investment income for the year was HKD 52.972 billion, a growth of 5.2%. Among them, dividend income was HKD 6.945 billion, an increase of 29.4%, mainly influenced by the increase in high-dividend strategy stocks