CLSA Raises China Life Insurance Target Price to HK$37, Q1 Net Profit Broadly In Line

Stock News04-30

CLSA has released a research report announcing an increase in the target price for CHINA LIFE (02628) from HK$33 to HK$37. This adjustment primarily reflects rapid growth in new business value, a higher net asset value, and the appreciation of the Renminbi. The firm reiterated its "Outperform" rating, identifying the stock as its top pick within the domestic insurance sector. Due to recent shifts in market sentiment affecting A-shares, CLSA has lowered the target price for China Life's A-shares (601628) from RMB 45 to RMB 39, while maintaining a "Hold" rating.

CHINA LIFE (02628) disclosed its financial results for the first quarter of 2026. The most notable highlight was a 76% year-on-year increase in new business value, significantly surpassing market expectations. However, net profit fell by 32% compared to the same period last year, a result broadly in line with the firm's forecasts, attributed to weak stock market performance and a high base of comparison from the previous year.

CLSA has raised its operational forecasts for China Life but has revised down its 2026 investment return projections. This leads to slight downward adjustments in the 2026 earnings per share and dividend per share estimates. Conversely, the firm has upgraded its profit, net asset value, and new business value forecasts for 2027 and 2028.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1199796974?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-04-30 14:47","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1199796974","market":"sg","top_or_hot":-1,"title":"CLSA Raises China Life Insurance Target Price to HK$37, Q1 Net Profit Broadly In Line","media":"Stock News","content":"<p>CLSA has released a research report announcing an increase in the target price for CHINA LIFE (02628) from HK$33 to HK$37. This adjustment primarily reflects rapid growth in new business value, a higher net asset value, and the appreciation of the Renminbi. The firm reiterated its \"Outperform\" rating, identifying the stock as its top pick within the domestic insurance sector. Due to recent shifts in market sentiment affecting A-shares, CLSA has lowered the target price for China Life's A-shares (601628) from RMB 45 to RMB 39, while maintaining a \"Hold\" rating.</p>\n<p>CHINA LIFE (02628) disclosed its financial results for the first quarter of 2026. The most notable highlight was a 76% year-on-year increase in new business value, significantly surpassing market expectations. However, net profit fell by 32% compared to the same period last year, a result broadly in line with the firm's forecasts, attributed to weak stock market performance and a high base of comparison from the previous year.</p>\n<p>CLSA has raised its operational forecasts for China Life but has revised down its 2026 investment return projections. This leads to slight downward adjustments in the 2026 earnings per share and dividend per share estimates. Conversely, the firm has upgraded its profit, net asset value, and new business value forecasts for 2027 and 2028.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CLSA Raises China Life Insurance Target Price to HK$37, Q1 Net Profit Broadly In Line</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCLSA Raises China Life Insurance Target Price to HK$37, Q1 Net Profit Broadly In Line\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-04-30 14:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>CLSA has released a research report announcing an increase in the target price for CHINA LIFE (02628) from HK$33 to HK$37. This adjustment primarily reflects rapid growth in new business value, a higher net asset value, and the appreciation of the Renminbi. The firm reiterated its \"Outperform\" rating, identifying the stock as its top pick within the domestic insurance sector. Due to recent shifts in market sentiment affecting A-shares, CLSA has lowered the target price for China Life's A-shares (601628) from RMB 45 to RMB 39, while maintaining a \"Hold\" rating.</p>\n<p>CHINA LIFE (02628) disclosed its financial results for the first quarter of 2026. The most notable highlight was a 76% year-on-year increase in new business value, significantly surpassing market expectations. However, net profit fell by 32% compared to the same period last year, a result broadly in line with the firm's forecasts, attributed to weak stock market performance and a high base of comparison from the previous year.</p>\n<p>CLSA has raised its operational forecasts for China Life but has revised down its 2026 investment return projections. This leads to slight downward adjustments in the 2026 earnings per share and dividend per share estimates. Conversely, the firm has upgraded its profit, net asset value, and new business value forecasts for 2027 and 2028.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0871576103.HKD","symbol_name":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","start_time":0,"source_url":"","article_id":"1199796974","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1199796974","pubTimestamp":1777531646,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"CLSA has released a research report announcing an increase in the target price for CHINA LIFE (02628) from HK$33 to HK$37. This adjustment primarily reflects rapid growth in new business value, a...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"601628":"中国人寿","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","BK0196":"行业龙头","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","SG9999012744.USD":"UNITED ASIAN INCOME (USDHDG) INC","BK1584":"蚂蚁金服概念","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","BK0207":"保险","LU0169518387.USD":"JPM ASIA EQUITY \"A\" ACC","LU0287142896.SGD":"Fidelity China Focus A-SGD","LU3063872942.SGD":"FULLERTON LUX FUNDS ASIA EQUITIES \"I\" (SGD) ACC","LU2097828805.USD":"AZ EQUITY CHINA \"A-AZ\" (USD) ACC","BK1521":"挪威政府全球养老基金持仓","SG9999012736.USD":"UNITED ASIAN INCOME (USDHDG) ACC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU1046422090.SGD":"Fidelity Pacific A-SGD","LU0211977185.USD":"EASTSPRING INVESTMENTS GREATER CHINA EQUITY \"A\" ACC","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","BK0183":"MSCI概念","BK0188":"融资融券","EWH":"香港ETF-iShares MSCI","BK0012":"证金概念","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU0173614495.USD":"富达中国焦点A","02628":"中国人寿","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","BK0028":"国家队","SG9999012710.SGD":"UNITED ASIAN INCOME (SGDHDG) ACC","BK1550":"内险股","LU1808992512.USD":"AB ALL CHINA EQUITY PORTFOLIO \"A\" (USD) ACC","BK1184":"人寿与健康保险","HK0000286598.CNH":"中银保诚中国价值基金 A","HK0000165453.HKD":"华夏精选大中华科技基金 A类港币","SG9999012728.SGD":"United Asian Income Fund Dis SGD","LU2257852520.SGD":"JPMorgan Funds - Asia Growth A (acc) SGD","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC"},"translate_title":"里昂证券上调中国人寿目标价至37港元Q1净利润大体符合","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601628":1,"02628":1,"EWH":1},"content_text":"CLSA has released a research report announcing an increase in the target price for CHINA LIFE (02628) from HK$33 to HK$37. This adjustment primarily reflects rapid growth in new business value, a higher net asset value, and the appreciation of the Renminbi. The firm reiterated its \"Outperform\" rating, identifying the stock as its top pick within the domestic insurance sector. Due to recent shifts in market sentiment affecting A-shares, CLSA has lowered the target price for China Life's A-shares (601628) from RMB 45 to RMB 39, while maintaining a \"Hold\" rating.\nCHINA LIFE (02628) disclosed its financial results for the first quarter of 2026. The most notable highlight was a 76% year-on-year increase in new business value, significantly surpassing market expectations. However, net profit fell by 32% compared to the same period last year, a result broadly in line with the firm's forecasts, attributed to weak stock market performance and a high base of comparison from the previous year.\nCLSA has raised its operational forecasts for China Life but has revised down its 2026 investment return projections. This leads to slight downward adjustments in the 2026 earnings per share and dividend per share estimates. Conversely, the firm has upgraded its profit, net asset value, and new business value forecasts for 2027 and 2028.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.2","shortVersion":"4.42.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1199796974","isCrawlerRequest":true}