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<Research>CMBI Hikes CHINA LIFE (02628.HK) TP to $31, Maintains Buy Rating
Recommend 28 Positive 64 Negative 24 |
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CMB International published a report on CHINA LIFE (02628.HK), which delivered impressive 3Q25 results, with net profit nearly doubling to RMB126 billion from a high base last year, marking a 92% YoY spike. This shored up the net profit for 9M25 to RMB167.8 billion, up 61% YoY. The company's 3Q25 profit growth outshone its peers, mainly boosted by both insurance service results and investment results. In view of the substantial profit increase in 3Q25, CMB International raised its EPS forecast for China Life for FY2025-27 from RMB2.99/ 3.23/ 3.67, to RMB6.03/ 4.41/ 4.95. It also revised up the FY2025 NBV growth forecast to 38%. The broker maintained a Buy rating for China Life and lifted the target price from HK$29 to HK$31. AASTOCKS Financial News Website: www.aastocks.com |
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