As we are potentially selling. So it is probably best to make sure we understand our own assets. It is CLPC = China Life Pension Company. End of 2013 we paid AUD$240 million to acquired 19.99% of CLPC when it was much much smaller company and it was a money losing business. Now the scale is many many times bigger in terms of fund under management. and it started making profit since 5 to 6 years ago. Profit and fund under management are growing exponentially at crazy speed year on year. The currency is in RMB which is of today about $1AU = 4.7 RMB.
How much would it worth? Someone before suggested in this forum that China asset worth at least 1 Billion AU$. I would not disagree. I remember reading its parent company's half yearly report 2020, CLPC profit increased a lot this first half again! Even under Covid! Not an advise. but to provide the numbers(you verify yourself) I copied out from reports on CLPC website.
This is the best asset AMP acquired in my opinion!
=======================
AMP own 19.99% of CLPC, keep this in mind when you read below figure, I get it from company website see the link below.
CLPC 2019 <-------------------------------------------------------------------------------- 2013
Rev 2,339,083,172 1,703,518,447 900,398,954 894,242,613 754,136,274 421,727,803 296,745,360 242,898,843
Profit 656,332,999 342,721,882 16,332,007 139,124,393 120,544,451 -156,078,775 -237,331,430 -241,926,259
======================
For people who can read Chinese. Below is the link for data from the yearly reports.
http://www.clpc.com.cn/rsbx/496637/498183/604424/index.html
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