Goldman Sachs released a research report saying that the future profit forecast was adjusted based on China Life Insurance's third-quarter performance, indicating that the investment income for the previous quarter surpassed expectations, raised the annual net profit forecast by 69% accordingly, and raised the premium forecast for the first year of 2025 to 2027 by 7% to reflect the improvement in banking and insurance sales channels in the third quarter and the positive management outlook for 2026. Due to the expansion of the portfolio size and the increase in premium inflows, the bank also raised China Life's 2026 and 2027 net profit forecast by 7%, the 2025-2027 book value forecast by 5% to 7%, and the dividend forecast per share by 10%. Among them, this year's dividend forecast will increase 23% year over year, higher than the previous forecast of 12% increase, and the target price will rise from HK$22.5 to HK$24.5, maintaining a “neutral” rating.

Zhitongcaijing · 11/10/2025 09:49
Goldman Sachs released a research report saying that the future profit forecast was adjusted based on China Life Insurance's third-quarter performance, indicating that the investment income for the previous quarter surpassed expectations, raised the annual net profit forecast by 69% accordingly, and raised the premium forecast for the first year of 2025 to 2027 by 7% to reflect the improvement in banking and insurance sales channels in the third quarter and the positive management outlook for 2026. Due to the expansion of the portfolio size and the increase in premium inflows, the bank also raised China Life's 2026 and 2027 net profit forecast by 7%, the 2025-2027 book value forecast by 5% to 7%, and the dividend forecast per share by 10%. Among them, this year's dividend forecast will increase 23% year over year, higher than the previous forecast of 12% increase, and the target price will rise from HK$22.5 to HK$24.5, maintaining a “neutral” rating.