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中国人保:H股公告2019-03-23  

						    1339




1
        2018          2017

    5    498,608       476,447
    5    (29,623)      (27,870)

    5    468,985       448,577
    5    (13,638)      (13,600)

         455,347       434,977
           9,805         8,803
    6     29,527        36,476
           3,918         3,519

         498,597       483,775

         100,066       119,406
         242,449       221,042
         (11,008)       (5,508)
           2,148         2,661

         333,655       337,601
         (15,030)      (18,760)

         318,625       318,841

          81,728        68,094
           6,555         5,569
            (425)          668
          76,859        71,648

         483,342       464,820

          12,540        12,674
            (737)         (798)

    7     27,058        30,831
    8     (8,343)       (7,780)

          18,715        23,051


          12,912        16,099
           5,803         6,952

          18,715        23,051


    9          0.30          0.38


2
    2018           2017

      18,715         23,051




      (6,977)          (164)
       1,628         (4,431)
       2,424            887
         377            765

      (2,548)        (2,943)

              –             3
              –             2

              –             5

           412       (1,425)
            58          (77)

      (2,078)        (4,440)


            454           335
           (113)          (84)

           341            251

           (187)          (232)
             23            113

           177            132

      (1,901)        (4,308)

      16,814         18,743



      11,324         12,865
       5,490          5,878

      16,814         18,743

3
           2018        2017
         12 31       12 31



           61,601      72,819
          316,394     313,261
          116,697     115,013
    11     44,218      41,518
           27,025      28,206
           98,653      70,706
           13,794      11,311
          164,512     157,715
    12    107,492      97,740
           12,782      12,155
           25,778      24,281
            2,329       1,494
            3,414       3,649
            8,662       9,645
           28,284      28,393


         1,031,635    987,906




           54,889      41,226
           15,551      18,737
            3,185       4,462
           57,732      49,801
          559,217     557,011
           41,808      45,880
            3,970       5,205
            2,967       2,899
            1,021         834
           84,994      74,970


          825,334     801,025



4
           2018        2017
         12 31       12 31



    13     44,224      42,424
          108,829      95,109


          153,053     137,533
           53,248      49,348


          206,301     186,881


         1,031,635    987,906




5
                                                                                                                                                                           *
                               13
2018 1 1                 42,424                19,925                   159              8,473            1,705           2,625         (304)           (52)          11,759         (15,153)         (884)         66,856      137,533     49,348    186,881

                                    –                 –                  –                –              –              –           –             –                –              –            –         12,912       12,912      5,803     18,715
                                    –                 –             (1,991)                –              –            267          279             44                 –              –         (187)              –      (1,588)      (313)    (1,901)

                                    –                 –             (1,991)                –              –            267          279             44                 –              –         (187)         12,912       11,324      5,490     16,814

                                  –                   –                  –            1,401               –              –            –             –            282                –             –        (1,683)           –         –         –
                                  –                   –                  –                –            192               –            –             –              –               –             –          (192)           –         –         –
                                  –                   –                  –                –           (192)              –            –             –              –               –             –           192            –         –         –
             10                   –                   –                  –                –              –              –            –             –              –               –             –        (1,672)      (1,672)    (1,590)    (3,262)
                              1,800                4,048                   –                –              –              –            –             –              –               –             –             –       5,848          –     5,848
                                  –                   –                  –                –              –              –           20              –              –               –             –             –          20          –        20

2018 12 31               44,224                23,973                 (1,832)            9,874            1,705           2,892           (5)            (8)          12,041         (15,153)        (1,071)        76,413      153,053     53,248    206,301




                                                                                                                                                                                *
                    13
2017 1 1          42,424                 19,925             2,353               7,062             1,300           2,417           (7)           661              6          1,410       (15,153)          (652)       64,355     126,101    44,893    170,994

                         –                   –                 –                 –               –              –            –              –            –             –              –           –       16,099      16,099     6,952     23,051
                         –                   –            (2,194)                 –               –            208             7            (965)          (58)             –              –        (232)            –     (3,234)   (1,074)    (4,308)

                         –                   –            (2,194)                 –               –            208             7            (965)          (58)             –              –        (232)       16,099      12,865     5,878     18,743

                         –                   –                 –             1,411                –              –            –              –            –       10,349                –             –    (11,760)          –        –         –
                         –                   –                 –                 –             405               –            –              –            –            –               –             –       (405)          –        –         –
             10          –                   –                 –                 –               –              –            –              –            –            –               –             –     (1,433)     (1,433)   (1,452)    (2,885)
                         –                   –                 –                 –               –              –            –              –            –            –               –             –          –          –       29         29

2017 12 31        42,424                 19,925               159               8,473             1,705           2,625            –           (304)          (52)       11,759        (15,153)          (884)       66,856     137,533    49,348    186,881


*




                                                                                                                                  6
        2018        2017


          27,058      30,831

    6    (29,527)    (36,476)
            (425)        668
         (12,540)    (12,674)
             737         798
    7      2,193       1,900
    7        281         203
    7        172         152

            (151)        (72)
           4,861       4,152
            (416)        445
             279         789

          (7,478)     (9,284)

          (2,353)     (7,605)
          (4,072)      7,510
           3,387      21,311
          (1,340)     (3,074)
           3,239        (494)

          (8,617)      8,364
          (8,186)     (8,989)

         (16,803)          (625)


          30,284      28,721
           6,432       6,016
            (857)        143
          (5,116)     (3,125)

             363         254
            (338)          –
        (201,493)   (255,498)
         184,165     225,085
            (279)       (789)
         (27,768)     21,063

         (14,607)     21,870

7
            2018        2017



                   –         29
               5,848           –
              13,663       8,160
              30,000       3,500
                 600           –
             (22,000)          –
                (600)          –
              (4,185)     (3,763)
              (3,262)     (2,885)


              20,064       5,041


             (11,346)     26,286
              72,819      46,729
                 128        (196)


              61,601      72,819




    3
              38,548      29,528
3             23,053      43,291


              61,601      72,819




        8
1.

           1996   8    22
                      88         100031                          1949
     10   20


                                              2018




2.




3.




                       15
                            22
                       2
                       4                                  4
                                                     9
                  28                                 2014-2016
                  40




                                          9
                       15

                                                       15
                  15                          18                          11



                                             15                                2018    1   1


                                        15                                      2018   1   1


    18                                 11


                                        4                                      15


                                                                 15
                                                                          15



                       4                                          9
4

                       9


                  9    2018    1   1                                                   4



2016      9                                                           4
              9                                             17



                                                                      9
    (a)                          (b) 2021     1        1
                              2016 4 1




                                                  10
                                               4
                                    9                               9
                           39



      2016       12   31
                                    90%            2015   12   31
                                                     9
     2018    1    1


                                9                              9
                      17




4.




                                          11
   1%




         10%


2018    12   31




                  344,675     92,677    13,797         –       –   4,333      (135)   455,347
                   10,419        448       151         –       –     168    (1,381)     9,805
                   14,656     12,355     1,278       584    4,450      439    (4,235)    29,527
                    2,475        728       133     1,610        1      831    (1,860)     3,918



                  372,225    106,208    15,359     2,194    4,451    5,771    (7,611)   498,597


                  374,667    105,643    15,322     1,498      478      989         –   498,597
                   (2,442)       565        37       696    3,973    4,782    (7,611)         –


                  213,661     90,170    11,913         –       –   2,964       (83)   318,625


                   74,072      7,953       662         –       –       –     (959)    81,728
                    2,076      2,978       476         7    1,002       16         –     6,555
                     (211)      (161)       (5)        –     (42)      (6)        –      (425)
                   63,751      8,281     2,302     1,338      905    2,910    (2,628)    76,859


                  353,349    109,221    15,348     1,345    1,865    5,884    (3,670)   483,342


                    7,896      3,736         10        3      846      (45)       94     12,540
                     (737)         –         –       –       –       –        –      (737)


                   26,035        723         21      852    3,432    (158)    (3,847)    27,058
                   (7,950)         5          –    (214)    (192)    (10)        18     (8,343)



                   18,085        728         21      638    3,240    (168)    (3,829)    18,715


                                        12
2017   12   31




                 309,552    105,428    17,997        –       –   1,748       252    434,977
                   9,374        273        93        –       –     102    (1,039)     8,803
                  15,901     17,320     2,008      452    4,438      162    (3,805)    36,476
                   2,025        754       121    1,618        1      379    (1,379)     3,519



                 336,852    123,775    20,219    2,070    4,439    2,391    (5,971)   483,775


                 337,586    123,375    20,190    1,432      815      377         –   483,775
                    (734)       400        29      638    3,624    2,014    (5,971)         –


                 192,586    108,162    17,182        –       –     875        36    318,841


                  59,754      8,369       796        –       –       –     (825)    68,094
                   2,000      2,122       543        4      899        1         –     5,569
                     442        185         2        1       35        3         –       668
                  60,137      7,725     1,689    1,301      823    1,809    (1,836)    71,648


                 314,919    126,563    20,212    1,306    1,757    2,688    (2,625)   464,820


                   7,919      3,625         –      (1)     923        –     208      12,674
                    (356)      (398)        –       –     (44)       –       –       (798)


                  29,496       439          7      763    3,561     (297)   (3,138)    30,831
                  (7,315)     (285)         –    (199)      99        –      (80)    (7,780)



                  22,181       154          7      564    3,660     (297)   (3,218)    23,051




                                       13
  2018       12   31                       2017      12     31




2018 12 31
                       559,314   391,661    35,086        10,887   118,646   14,882   (98,841)   1,031,635


                       408,433   360,767    29,528         2,323    22,744    7,257    (5,718)    825,334




                         4,012       332       198          311       160      103         –       5,116
                         2,053       244        59           33       155       17        85        2,646
                        14,063    13,828     1,090          189       299      425       126       30,020


2017 12 31
                       530,450   381,802    43,096        10,293   109,569   11,382   (98,686)    987,906


                       392,477   350,242    37,463         2,205    20,587    3,541    (5,490)    801,025




                         1,908       706       109          306        62       34         –       3,125
                         1,806       176        54           31       111        8        69        2,255
                        13,304    12,866     1,425          146       222      139       213       28,315




                                             14
5.

                2018        2017


     (a)
                  93,354     113,111
                  15,172      12,438
                 390,082     350,898


                 498,608     476,447


     (b)
                  (1,501)     (1,083)
                    (287)     (1,167)
                 (27,835)    (25,620)


                 (29,623)    (27,870)


                 468,985     448,577


     (c)


                 (14,789)    (12,150)
                   1,151      (1,450)


                 (13,638)    (13,600)




           15
6.

                            2018         2017


                 (a)          34,370       32,650
                 (b)          (1,883)       4,823
           (c)                  (536)        (110)
                              (2,424)        (887)


                              29,527       36,476


     (a)


                            2018         2017


                                   554          575



                               5,203        4,992


                               6,027        5,857
                               8,258        7,727
                                 211          271
                                   –           3
                              10,321        9,465


                              30,020       28,315




                               3,503        3,369
                                 293          391


                               3,796        3,760


                              34,370       32,650




                       16
(b)


           2018           2017



                  530              90
                   34               9


             (2,162)         4,330
               (285)           394


             (1,883)         4,823


(c)


           2018           2017



                  104            (105)


                  (797)           195
                   157           (200)


                  (536)          (110)




      17
7.




                                      2018        2017


              (a)                       41,185      39,026
                                         2,193       1,900
                                 11       (347)        426
                                           (69)         11
                                             –          8
                                         1,262       1,089
                                           281         203
                                           172         152
                                            33          31


     (a)


                                      2018        2017



                                        36,812      35,198
                                         4,373       3,828


                                        41,185      39,026


8.

                                      2018        2017


                                         6,897      10,653
                                            12          42
                                         1,434      (2,915)


                                         8,343       7,780



           25% 2017   25%



                            18
                                          2017   12   31             16.5%
        2018   1     1                                 2                 8.25%
                     2       16.5%                         2018   12 31
                     16.5%


               25%


                                                              2018          2017


                                                                  27,058         30,831


                                                                   6,765          7,708
                                                                      12             42
                                                                  (2,951)        (2,969)
                                                                  (1,637)          (888)
                                                                   5,590          3,511
                                                                     564            384
                                                                       –            (8)


                                                                   8,343          7,780


                                                                  30.8%          25.2%


9.

     2018      2017


                                                              2018          2017

                                                                  12,912         16,099

                                                                  42,574         42,424

                                                                     0.30          0.38




                                     19
                                                             A


                 2018   2017


10.

                                              2018               2017


      2017                     3.94                 1,672                  –
      2016                     3.37881                  –             1,433

      2019   3   22                  2018                 4.57


11.

                                                   2018               2017
                                              12     31          12     31

                                                   33,117             22,848
                                                   14,309             22,272

                                                   47,426             45,120



                                                   (3,009)            (3,343)
                                                     (199)              (259)

                                                   44,218             41,518




                                         20
(a)


                                                          2018             2017


          1    1                                             3,602             3,218
                                     7                           (347)            426
                                                                  (47)            (42)


          12       31                                        3,208             3,602


(b)


                                                            2018             2017
                                                          12 31            12 31


                    3                                       37,008            30,382
      3                     6                                3,004             4,288
      6                     12                               3,592             5,652
      1                 2                                      511             1,033
      2                                                        103               163


                                                            44,218            41,518




                                            3



                       Standard & Poor’s            A-                  A.M. Best
      Fitch        Moody’s




                                                21
12.

      (a)


                                                                             2018                    2017
                                                                           12 31                   12 31



                                                                                 66,160              66,756
                                                                                 38,226              28,094


                                                                                104,386              94,850



                                                                                  3,086               2,890
                                                                                     20                   –


                                                                                  3,106               2,890


                                                                                107,492              97,740


                  2018        2017

                  737                798

              2018 12 31                                                                      94,141
               2017 12 31                 84,958
            62,010     2017    12    31                 71,963

      (b)



                                                                   2018 12 31              2017 12 31



                                                                 0.85%     12.05%         0.85%       12.05%
                                                                      –   16.66%             –      19.99%




                                                   22
13.

                                              2018            2017
                                            12 31           12 31


                           1
                                              29,896              29,896
                                               3,802               3,802


           A                                   1,800                   –
           H                                   8,726               8,726


                                              44,224              42,424




                                              29,896              29,896
                                               3,802               3,802


           A                                   1,800                   –
           H                                   8,726               8,726


                                              44,224              42,424


          2018   11   26                A                  3.34
      1,800      A                  A          5,848
      1,800                                        4,048




                               23
14.

             2018       2017
           12 31      12 31



              2,294      2,833
              6,174      2,386
              6,935      7,138
              3,963        131
              1,281        600
             84,217     84,274
              5,633      5,571
              2,615      2,605
              3,099      3,090
                 23         29
                 64         65
              1,042        227


            117,340    108,949




             17,977     15,995
              2,967      2,899
              1,801      1,693


             22,745     20,587




             44,224     42,424
             50,371     45,938


             94,595     88,362


            117,340    108,949




      24
68.98%   75.0%


       80.0%
                 95.45%


                                                                      100%
                                               100%
                                100%
100%




                                                      12     31
                                        2018               2017              (%)



                                        388,020            349,290          11.1
                                         93,714            106,238         (11.8)
                                         14,798             19,250         (23.1)
                          (%)              98.5               97.2   1.3
                                          5,735              5,687           0.8
                                            507                468           8.3
                  (%)                       4.8                5.9   1.1




                                       25
                    2018          2017
                  12 31         12 31            (%)

      (1)


      (%)                33.0       33.1   0.1
      (%)                 3.6        4.1   0.5
      (%)                 0.6        0.7   0.1
                       70,632     61,909         14.1
                        8,689      7,831         11.0



                    2018          2017
                  12 31         12 31            (%)


            (%)
                         309         299    10
                         275         278     3
                         244         219    25
                         282         396   114


            (%)
                         244         235     9
                         229         229           –
                         201         192     9
                         182         257    75

(1)




                  26
2018
         3411
                                                       2018
         33.0%                                  3.6%
  0.6%                       2018
                                    3,880.20                   997.10          153.34
                2.73




                                                          12     31
                                         2018                  2017              (%)


                                         498,608               476,447            4.7
                                         388,769               350,314           11.0
                                          93,727               106,299          (11.8)
                                          14,798                19,250          (23.1)
                                          27,058                30,831          (12.2)
                                          18,715                23,051          (18.8)
                                          12,912                16,099          (19.8)
                                            0.30                  0.38          (20.1)
                       (%)                   9.0                  12.2   3.2




                                    27
                    2018             2017
                  12 31            12 31                          (%)


                  1,031,635             987,906                   4.4
                    825,334             801,025                   3.0
                    206,301             186,881                  10.4
                       3.46                3.24                   6.8
      (1)
            (%)        80.0                81.1         1.1

(1)




                                             2018           2017
                       2018      2017      12 31          12 31


                       13,450    16,646       152,468         136,919


                          (73)      139         1,010           1,082
                           17       (34)         (251)           (269)
                           26       (56)         (174)           (199)
                         (508)     (596)            –              –
                       12,912    16,099       153,053         137,533




                  28
1.          [2013]129




2.   2014




3.   2018     2017
                                                         7.37
     7.98    2018       2017
                                    5.08          5.96
                             2018          2017
            5.08           5.96




2018




                                     29
1

    (1)




                                    12     31
                          2018           2017         (%)


                          258,904        249,232       3.9
                           40,444         30,646      32.0
                           26,718         22,090      21.0
                           21,706         16,975      27.9
                           13,413         12,623       6.3
                           11,575          4,942     134.2
                            3,864          3,232      19.6
                           12,145         10,574      14.9


                          388,769        350,314      11.0




                  2018                    3,887.69
          11.0%




                         30
                      2017              2,492.32           3.9%      2018
2,589.04     2018




                             2017            306.46               32.0%     2018
    404.44     2018




               2017            220.90              21.0%   2018               267.18
    2018




                             31
                          2017                169.75           27.9%         2018
217.06          2018




                                2017            126.23              6.3%     2018
134.13          2018



                                2017                49.42           134.2%     2018
  115.75          2018




                         2017               32.32           19.6%     2018            38.64
         2018




                           2017                105.74           14.9%        2018
121.45          2018




                                       32
(2)




                                               12   31
                                       2018                        2017
                                        (%)            (%)                 (%)


                       277,240          71.5        12.4     246,610       70.6
                       130,214          33.6         4.5     124,548       35.7
                        53,958          13.9        (6.5)     57,705       16.5
                        93,068          24.0        44.6      64,357       18.4
                        80,080          20.6        (3.4)     82,859       23.7
                        30,700           7.9        54.9      19,821        5.7


                       388,020         100.0        11.1     349,290      100.0


      2018



                                                                 2017
      2,466.10      12.4% 2018              2,772.40
             2017        198.21         54.9% 2018             307.00




                                  33
(3)




                 12     31
       2018           2017      (%)


        37,993         32,353   17.4
        36,859         34,535    6.7
        30,300         26,779   13.1
        22,351         21,719    2.9
        21,762         19,495   11.6
        17,678         18,702   (5.5)
        16,024         13,499   18.7
        15,608         14,805    5.4
        15,179         12,698   19.5
        14,655         13,630    7.5
       159,611        141,075   13.1


       388,020        349,290   11.1




      34
(4)




                            2018   12   31


                                                             (%)


      258,904 65,572,496    146,973      183,193   3,894     98.4
       40,444 752,838,610    29,942       17,960     184     99.5
       26,718   2,196,323    15,668       11,573     954     95.8
       21,706 67,410,247      8,079       19,159     912     93.9
       13,413 29,445,025      4,871       13,019    (764)   109.6
       11,575   1,012,488     3,429       10,673     185     96.9
        3,864 11,575,495      1,525        2,516     262     90.7
       12,145 44,841,813      4,173       17,688    (323)   105.0


      388,769 974,892,497   214,660      275,781   5,304     98.5




                     35
(5)




                                           12     31
                          2018                  2017              (%)


                          344,124               309,076          11.3
                           11,992                13,214          (9.2)
                            2,477                 2,022          22.5
                          369,152               333,870          10.6


                          213,303               192,520          10.8
                           74,036                59,725          24.0
                            2,074                 1,998           3.8
                           63,685                59,932           6.3
                          352,884               314,626          12.2


                              23,428             27,161          (13.7)
                               7,942              7,353            8.0


                              15,486             19,808          (21.8)




                 2017           3,090.76          11.3%   2018
      3,441.24




                  2017            132.14           9.2%   2018
      119.92




                         36
                                  2017                1,925.20             10.8%        2018
           2,133.03
                                   2017        62.3%          0.3                2018     62.0%
    2018




                                    2017                 597.25              24.0%       2018
             740.36




                           2017               19.98              3.8%     2018                  20.74




                                                 2017                   198.08            21.8%
    2018              154.86


2

                                                2018     12      31
    25.1                          5.6         2018                                             10.6
                 105.0%                       0.13




                                         37
1

    2018



                            3411
                                        2018
    168.36                                17.4                    60.0%
                    44.90                  3.5%                                 57.35
             0.8%


    (1)




                                                   12     31
                                        2018                             2017
                                                   (%)                                  (%)


                               75,992              81.1         88,383                  83.2
                               29,412              31.4         68,078                  64.1
                               46,469              49.6         20,199                  19.0
                                  111               0.1            106                   0.1
                               15,762              16.8         15,827                  14.9
                                1,960               2.1          2,028                   1.9


                               93,714             100.0        106,238              100.0




                                   38
                       2017               883.83       14.0%   2018
759.92



                         2017               158.27      0.4%       2018
157.62



                       2017               20.28      3.3%   2018             19.60




                  2018
         294.12     470.62        55.07                                   157.68
                                19.61




                                  39
(2)




                           2018                          2017


                                  %          %                         %
               47,203             50.3      (10.6)    52,785       49.7
               34,498             36.8      (22.1)    44,313       41.7
               28,345             30.2      (25.9)    38,273       36.0
                6,152              6.6        1.9      6,040        5.7
               12,586             13.4       50.4      8,366        7.9
                  120              0.1       13.2        106        0.1
               39,122             41.8       (8.6)    42,796       40.2
               11,860             12.7      (53.4)    25,452       23.9
                1,398              1.5      (87.7)    11,401       10.7
               10,462             11.2      (25.5)    14,051       13.2
               26,395             28.2       61.2     16,379       15.4
                  867              0.9      (10.2)       965        0.9
                7,389              7.9      (30.7)    10,656       10.1
                5,018              5.4      (42.1)     8,670        8.2
                4,793              5.1      (43.4)     8,467        8.0
                  222              0.3        9.4        203        0.2
                  408              0.4       85.5        220        0.2
                1,966              2.1       11.3      1,766        1.7


               93,714          100.0        (11.8)   106,238      100.0


                        2017             527.85        10.6%    2018
      472.03




                          40
                                              2017              427.96          8.6%      2018
            391.22



                                              2017              106.56            30.7%     2018
                 73.89



                            2018
                        490.45            426.78        79.87            2018 12       31
                     245,567                                               2,679
                   1.20


(3)

                                                        13        25


                                                                           12     31
                                                                         2018               2017

                              (1)
      13                            (%)                                    93.9                  93.8
                              (2)
      25                            (%)                                    91.8                  88.7

      (1)                13
            13


      (2)                25                                                                         25




                                                   41
(4)




                    12     31
       2018              2017       (%)


            7,044          7,011     0.5
            5,265          5,047     4.3
            5,157          5,238    (1.5)
            5,046          5,548    (9.0)
            5,027          5,298    (5.1)
            4,964          5,597   (11.3)
            4,306          4,801   (10.3)
            4,148          4,579    (9.4)
            4,108          4,690   (12.4)
            4,097          4,789   (14.4)
           44,552         53,640   (16.9)


           93,714        106,238   (11.8)




      42
(5)




                       2018   12   31




                                        22,006
      B
              B                          9,015
                                         7,996


          B                              6,219
                                         5,449




                  43
(6)




                                       12     31
                       2018                 2017               (%)
                        92,677              105,428           (12.1)
                        12,355               17,320           (28.7)
                           728                  754            (3.4)
                       106,208              123,775           (14.2)
                        90,170              108,162           (16.6)
                         7,953                8,369            (5.0)
                         2,978                2,122            40.3
                         8,281                7,725             7.2
                       109,221              126,563           (13.7)


                           723                 439             64.7
                             5                (285)          (101.8)


                           728                 154           372.7




               2017        1,054.28           12.1%   2018
      926.77




               2017           173.20          28.7%   2018
      123.55




                      44
                          2017                7.54             3.4%     2018              7.28




                              2017                1,081.62              16.6%    2018
       901.70




                                2017                 83.69             5.0%     2018
  79.53




                       2017               21.22              40.3%    2018               29.78
                              4.46                                                2.92
                                       1.17




                                              2017                   1.54          372.7%
2018            7.28




                                     45
2

    2018           3411




                             152.2%                           8.3%



    (1)




                                             12     31
                                   2018                           2017
                                             (%)                             (%)
                           1,180              8.0         8,800              45.7
                          10,833             73.2         8,538              44.3
                           1,163              7.9           842               4.4
                             667              4.5           646               3.4
                             864              5.8           335               1.7
                              91              0.6            89               0.5


                          14,798            100.0        19,250             100.0


                     2017                 88.00           86.6%      2018
           11.80




                             46
                                 2017               85.38             26.9%      2018
108.33


                                     2017           8.42              38.1%      2018
11.63


                                        2017            6.46              3.3%     2018
  6.67


                                            2017            3.35              157.9%    2018
         8.64



                                             2017              0.89            2.2%     2018
         0.91


                       2018
                                                                      15.65        109.84
11.63           6.67          8.64          0.91
                                                     241.83




                                            47
(2)




                       2018                         2017


                              %              %                     %


               665             4.5      (87.5)    5,305           27.6
               345             2.4      (93.1)    5,003           26.0
               142             1.0      (97.1)    4,856           25.2
               203             1.4       38.1       147            0.8
               300             2.0        6.8       281            1.5
                20             0.1       (4.8)       21            0.1
              3,764           25.4      (14.0)    4,376           22.7
              1,886           12.7      (45.6)    3,468           18.0
                 30            0.2      (98.9)    2,797           14.5
              1,856           12.5      176.6       671            3.5
              1,356            9.2       73.0       784            4.1
                522            3.5      321.0       124            0.6
             10,369           70.1        8.4     9,569           49.7
                 28            0.2      (71.4)       98            0.5
                 11            0.1      (88.2)       93            0.5
                 17            0.1      240.0         5            0.0
                 17            0.1       88.9         9            0.0
             10,324           69.8        9.1     9,462           49.2


             14,798        100.0        (23.1)   19,250          100.0


                  2017               53.05       87.5%    2018
      6.65




                      48
                                               2017                 43.76            14.0%        2018
              37.64



                                               2017             95.69                8.4%     2018
            103.69




                           2018
                      6.98             40.29          106.06                2018 12          31
                      24,372                                                    1,542
              0.55


(3)

                                                      13       25


                                                                                12      31
                                                                             2018                    2017

                           (1)
      13                         (%)                                            86.8                     84.7
                           (2)
      25                         (%)                                            80.1                     76.9

      (1)             13
             13


      (2)             25                                                                                    25




                                                 49
(4)




                    12    31
       2018              2017      (%)


            3,037         1,432   112.1
            1,783         1,006    77.2
            1,217         3,435   (64.6)
            1,118         1,060     5.5
              826         1,113   (25.8)
              799         1,220   (34.5)
              760         1,154   (34.1)
              744           990   (24.8)
              658           678    (2.9)
              551           867   (36.4)
            3,305         6,295   (47.5)


           14,798        19,250   (23.1)




      50
(5)




                  2018   12   31




                                   3,563


                                   3,162
      A
                                   1,286
      2018
                                    948
                                    699




             51
(6)




                    12    31
       2018              2017          (%)


           13,797        17,997      (23.3)
            1,278         2,008      (36.4)
              133           121        9.9
           15,359        20,219      (24.0)


           11,913        17,182      (30.7)
              662           796      (16.8)
              476           543      (12.3)
            2,302         1,689       36.3
           15,348        20,212      (24.1)


              21                7    200.0
               –               –       –


              21                7    200.0




      52
                   2017                179.97               23.3%    2018
137.97




                 2017               20.08            36.4%    2018             12.78




                 2017               1.21             9.9%    2018             1.33




                        2017                171.82            30.7%    2018
 119.13



                          2017                7.96            16.8%    2018
 6.62




                 2017               5.43             12.3%    2018            4.76




                                           2017              0.07           200.0%
2018      0.21




                               53
2018



                                                           583
       3                               488
45                 50                2018 12     31
           2,780




                                         12     31
                         2018                  2017      (%)


                               584                452    29.2
                             1,610              1,618    (0.5)


                             2,194              2,070     6.0


                                 7                  4    75.0
                             1,338              1,301     2.8


                             1,345              1,306     3.0


                              852                 763    11.7
                             (214)               (199)    7.5


                              638                 564    13.1




                        54
              2017       4.52          29.2%    2018       5.84




              2017        16.18          0.5%     2018        16.10




              2017       0.04          75.0%    2018       0.07




                                2017            5.64     13.1%    2018
       6.38




2018
                     A




                         55
1




                          2018   12   31             2017   12   31
                                           (%)                        (%)


                      895,462              100   853,400              100




                       61,601           6.9       72,819           8.5
                      594,890          66.4      553,673          64.9
                       98,653          11.0       70,706           8.3
                       29,191           3.3       18,493           2.2
                      102,779          11.5      105,595          12.4
                      157,766          17.6      150,273          17.6
                      104,813          11.7      105,290          12.3
                (1)
                      101,688          11.4      103,316          12.1


                       97,105          10.8       92,869          10.9
                       61,944           6.9       54,045           6.3
                       35,161           3.9       38,824           4.6
                      141,866          15.8      134,039          15.7
                      107,492          12.0       97,740          11.5
    (2)
                       34,374           3.8       36,299           4.2




                       20,551           2.3       23,757           2.8
                      128,177          14.3      122,477          14.4
                      284,363          31.8      282,040          33.0
                      107,492          12.0       97,740          11.5
          (3)
                      354,879          39.6      327,386          38.4




                          56
(1)




(2)




(3)




1

      2018




         2018    32.4%            0.2
                         AA/A-1         AAA
        91.4%




                57
                                  AA+
            98.3%   AAA   97.9%




2




    13.5%                               4.7%
                                        0.8%




                          58
2




                                                        12      31
                                                      2018            2017
                                                         913           1,066
                                                      29,603          27,111
                                                      28,977          27,117
                                                         564              99
                                                          62            (105)
                                                           –              –
                                                      (2,000)          7,335
                                                       3,626           3,303
                                                      (2,447)          4,724
                                                        (755)            195
                                                      (2,424)           (887)
                                                      12,814          12,840
                                                      12,540          12,674
                                                         274             166
                                                      41,330          48,352
              (1)
                                                      46,910          45,324
                    (2)
                          (%)                            4.8             5.9
                    (3)
                          (%)                            5.5             5.5

    (1)


    (2)                                          /                             +
                                             2


    (3)                                          /                             +
                                             2


    2018                        2017         483.52   14.5% 2018
    413.30                      2017         453.24    3.5% 2018
    469.10                       2017   5.9%    1.1     2018   4.8%
             5.5%




                                        59
1.




2.




                 12    31
      2018            2017          (%)


      (16,803)          (625)   2,588.5
      (14,607)        21,870          –
       20,064          5,041      298.0




     60
                           2017       6.25     2018
       168.03




                           2017       218.70     2018
         146.07


                           2017       50.41    298.0%
2018              200.64          A




                           61
        2018          2017
      12 31         12 31            (%)


       292,677       251,983         16.1
       230,672       198,075         16.5
        94,616        84,323         12.2
(%)        309           299    10
(%)        244           235     9


       162,860       154,590          5.3
       135,172       127,326          6.2
        59,136        55,552          6.5
(%)        275           278     3
(%)        229           229            –


           73,242     54,010         35.6
           60,577     47,192         28.4
           30,069     24,631         22.1
(%)           244        219    25
(%)           201        192     9


           10,355     10,930         (5.3)
            6,680      7,099         (5.9)
            3,678      2,763         33.1
(%)           282        396   114
(%)           182        257    75




      62
       2018        12    31                                309%   2017   12   31      10
                                      244%     2017   12   31     9


     2018      12       31                                 275%   2017   12   31      3
                                     229%                                           244%
    2017      12    31        25                               201%   2017 12      31
9                                                282%      2017 12 31      114
                              182%     2017   12 31         75




2019                70




                                               63
2019
       3411




              64
1
         10%                           2018     12      31        2017      12     31



                              2018         2017             2018             2017
                            12 31        12 31            12 31            12 31

                              44,257          39,467          4,968              5,897
                              33,394          28,469          4,231              2,165
                              (7,019)         (6,027)          (510)              (231)
                              26,375          22,442          3,722              1,934
                              70,632          61,909          8,689              7,831



         10%                           2018     12      31        2017      12     31
    12


                              2018         2017             2018             2017
                            12 31        12 31            12 31            12 31


                                7,554          7,655               706            536
                               (1,819)        (1,967)             (198)           (68)
                                5,735          5,687               507            468



                2018   12    31           2017       12      31       12



                              2018         2017             2018             2017
                            12 31        12 31            12 31            12 31

                                 430             403               25              25
                               4,916           4,844              404             403
                                 388             440               78              41
                                   0               0                0               0
                               5,735           5,687              507             468



               100%


                        65
2


      2018     12        31
    10%                            5.25%                             25%




3




        2018        12        31


                                                               10%




                                                      26,375           5,735
        9%                                            30,191           6,813
        11%                                           23,194           4,827
             50                                       33,515           7,471
             50                                       19,434           4,035
           10%                                        25,587           5,451
           10%                                        27,163           6,018
        10%                                           25,935           5,551
        10%                                           26,839           5,926
        10%                                           26,089           5,655
        10%                                           26,664           5,815
        10%                                           25,776           5,494
        10%                                           26,980           5,978
             10%                                      26,316           5,594
             10%                                      26,434           5,875
      (80/20)                                         25,193           5,443


                                                10%




                                           66
 2018      12   31

                                        10%




                                3,722         507
 9%                             3,999         611
 11%                            3,475         413
      50                        4,101         615
      50                        3,342         401
   10%                          3,718         325
   10%                          3,728         689
 10%                            3,652         553
 10%                            3,794         456
 10%                            3,710         506
 10%                            3,730         509
 10%                            3,712          39
 10%                            3,819         979
      5%                        3,225         258
      5%                        4,216         755
80/20                           3,706         496


                          10%




                     67
4

                           2017    12     31   2018   12   31   10%



                                                                           10%



    1               2017   12     31                             61,909          7,831
    2                                                             6,093            531
    3                                                             4,691            601
    4                                                            (2,977)          (262)
    5                                                              (631)           133
    6                                                               634             91
    7                                                             1,980              7
    8                                                            (1,067)          (243)
    9               2018   12     31                             70,632          8,689




                2    8


    2.   2018                          2018


    3.   2017                                  2018


    4.   2018


    5.   2018


    6.   2018


    7.   2018



    8.   2017       2018




                                               68
      2018




       2018   11   16                           3.34           1,800,000,000
A      2018


                        H

               2018     12   31            10          0.457
    20.21
                                  H




                                      69
2018                         (www.picc.com)
    (www.hkexnews.hk)




                        70