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| HSCEI1 | 8,453.77 | +63.84 | 89.48B |
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2026-03-27 11:32:13 CICC's research report indicates that China Life (02628.HK) announced its 2025 results, with new business value (NBV) growing by 35.7% year-on-year to RMB45.75 billion, and net profit attributable to the parent company increasing by 44.1% year-on-year to RMB154.1 billion, corresponding to a single-quarter loss of RMB13.7 billion in the fourth quarter of 2025, which is broadly in line with market expectations. The company continues to promote the transformation of floating income-type businesses, with the proportion of first-year premiums from participating insurance in the individual insurance channel reaching nearly 60% in 2025, driving down the new business liability guarantee costs by over 60 basis points. CICC maintains its 'Outperform' rating for the company, adjusting the 2026 fiscal year EPS forecast down by 13.5% to RMB4.46 based on predictions for investment performance in 2026; it introduces the 2027 fiscal year EPS forecast at RMB5.14 for the first time. The target price for China Life (601628.SH) A-shares remains unchanged at RMB60.3, and the target price for H-shares remains at HKD44.5. (hc/u)~ AASTOCKS Financial News Website: www.aastocks.com | |