Gelonghui on October 17th | Morgan Stanley released a report stating that China Life Insurance forecasted a net income of approximately between 101.135 billion yuan and 108.767 billion yuan for the first three quarters, an increase of about 165% to 185% year-on-year, exceeding both the bank's and the market's expectations. This growth is based on the same new accounting rules, meaning that the net income for the third quarter is 63 billion to 71 billion yuan, while the net loss in the same period last year was 0.6 billion yuan. Quarterly profits are expected to reach a historical high, with growth mainly driven by the stock market rebound. The profit calculated for the third quarter alone has already reached 2.2 to 2.4 times the full-year profit of 2023. Morgan Stanley estimates that China Life Insurance's annual dividends may experience significant growth, but the payout ratio may not be maintained at the same high level.