Summary by Moomoo AI
China Life Insurance Co., Ltd. (“China Life”) announced on 27 March 2024 the 2023 profit distribution plan and declared a cash dividend of RMB0.43 per share (tax included). The plan is still subject to approval at the 2023 Annual General Meeting. According to the consolidated financial statements of the company, the net profit attributable to the shareholders of the parent company in 2023 was RMB211.1 billion, and the dividend on the proposed cash dividend was approximately RMB121.54 billion, accounting for 58% of the net profit. The Company's core solvency ratio is 158.19%, and the combined solvency ratio is 218.54%. After this profit distribution, the solvency ratio is expected to affect the solvency ratio of approximately -2.71 percentage points, but is still in compliance with regulatory requirements. THE REGISTRATION DATE FOR THE PROVISIONAL SHARE OPTION IS 10 JULY 2024 AND THE DATE OF THE PROVISIONAL DISTRIBUTION (INTEREST) AND THE CASH DIVIDEND ISSUE DATE IS 11 JULY 2024.