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<Research>UBS Drops TP for CHINA LIFE (02628.HK) to HKD40; 2025 Results In Line
Recommend 11 Positive 13 Negative 9 |
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UBS released a research report on CHINA LIFE (02628.HK), which achieved overall results for 2025 that were broadly in line with market expectations. The NPAT proliferated 44% YoY to RMB154 billion, consistent with both market and UBS forecasts. The value of new business (VNB) added by 36% YoY, surpassing the market expectation of 26% but aligning with UBS's forecast of 35%. The DPS increased by 32% YoY to RMB0.86, in line with market expectations. In light of the 2025 results and recent stock market performance, UBS lowered its forecast for CHINA LIFE's embedded value, reducing the target price from HKD42 to HKD40, while maintaining a Buy rating. AASTOCKS Financial News Website: www.aastocks.com |
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