The Zhitong Finance App learned that Citi released a research report stating that after China Life Insurance (02628) announced its quarterly results, it lowered its earnings estimates per share by 6%, 5%, and 5% for each fiscal year from 2024 to 2026, respectively, to reflect the reduction in the Group's investment income estimates due to capital market fluctuations. Citi lowered China Life's target price from HK$16 to HK$15.6, maintaining a “buy” rating to reflect the Group's relatively prudent underwriting and stable management team, and attractive valuations.