Golden Horse Financial News | China Life Insurance (02628) stock price is improving, as of the deadline, it has increased by 2.82%, trading at 16.7 Hong Kong dollars, with a turnover of 0.359 billion Hong Kong dollars.

Swhy's report stated that China Life Insurance achieved a net income attributable to the parent company of 104.523/66.245 billion yuan in the first three quarters/Q3, with a year-on-year growth of +173.9% / +1767.1%, significantly exceeding the bank's expectations. Benefiting from the recovery of the stock market, the company's total investment income for the first three quarters increased by 152.4% year-on-year to 261.419 billion yuan; among them, the fair value changes in profit and loss for the first three quarters increased by +8008.5% to 147.655 billion yuan, serving as the core driver of the high growth in total investment income. The bank maintains a "buy" rating for the company and raises its profit forecast. Under the new accounting standards, the bank expects the net income attributable to the parent company for 2024-2026 to reach 118.7/123.1/144.3 billion yuan (previously forecasted at 28.7/35.9/45.8 billion yuan under the original accounting standards). The bank stated that the company, as a leading player in life insurance, is expected to be the first to benefit from the accelerated optimization trend of the industry competition landscape in the next phase and the implementation of regulatory supporting policies. The company continues to advance life insurance reforms, with the effects expected to continue to show.