The People's Insurance Co (Group) of China (HKSE:01339) Long-Term Capital Lease Obligation : HK$2,527 Mil (As of Mar. 2024)

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What is The People's Insurance Co (Group) of China Long-Term Capital Lease Obligation?

The People's Insurance Co (Group) of China's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was HK$2,527 Mil.

The People's Insurance Co (Group) of China's quarterly Long-Term Capital Lease Obligation declined from Sep. 2023 (HK$2,679 Mil) to Dec. 2023 (HK$1,618 Mil) but then increased from Dec. 2023 (HK$1,618 Mil) to Mar. 2024 (HK$2,527 Mil).

The People's Insurance Co (Group) of China's annual Long-Term Capital Lease Obligation declined from Dec. 2021 (HK$3,665 Mil) to Dec. 2022 (HK$1,680 Mil) and declined from Dec. 2022 (HK$1,680 Mil) to Dec. 2023 (HK$1,618 Mil).

The People's Insurance Co (Group) of China Long-Term Capital Lease Obligation Historical Data

The historical data trend for The People's Insurance Co (Group) of China's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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The People's Insurance Co (Group) of China Long-Term Capital Lease Obligation Chart

The People's Insurance Co (Group) of China Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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3,395.00

3,309.73

3,664.83

1,679.54

1,617.70

The People's Insurance Co (Group) of China Quarterly Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															-	2,754.14	2,678.55	1,617.70	2,526.74

The People's Insurance Co (Group) of China (HKSE:01339) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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The People's Insurance Co (Group) of China (HKSE:01339) Business Description

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PINXY:USA PIR:Germany 601319:China

Address

No. 88, West Chang’an Avenue, 1st-13th Floor, Xi Cheng District, Beijing, CHN, 100031

Website

http://www.picc.com.cn

Headquartered in Beijing, PICC Group is the largest state-owned insurance group, holding a 69% stake in PICC P&C, an 80% stake in PICC Life, and a 69% stake in PICC Health Insurance. Its P&C subsidiary is the largest nonlife insurer with about one third of market share in China. Life and health insurance subsidiaries hold about 2.9% and 1.3% share, respectively. The Ministry of Finance is the largest shareholder, with 61% share. China's Social Security Fund is the group's second-largest shareholder holding nearly 13% share.

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