According to the report from Zhidao Finance APP, Goldman Sachs released a research report stating a 'buy' rating and a target price of HKD14 for China Life Insurance (02628). Regarding dividends, the group reiterated its focus on providing stable dividends, pointing out that it is unlikely to distribute dividends in the first half of the year, but stating that it will study plans to respond to the call for further improvement of shareholder returns by the State Council.

The report states that China Life Insurance Group stressed that demand for savings products is very strong, while the demand for protection products has not fully recovered and protection gaps are evident. The profitability and sales of bank insurance benefited from the reduction of commissions across the industry and the cancellation of the maximum number of insurance companies that banks can cooperate with. In terms of agency institutions, the group expects to maintain a stable number of employees and achieve continuous productivity improvement in fiscal year 2024.