Goldman Sachs published a report, after China Life Insurance (02628.HK) announced third-quarter results, the company's profit forecast for this year was raised by 19%, mainly due to better-than-expected investment performance in the third quarter, and slight adjustments of 1% to 2% in profit forecasts for the next two years. Therefore, Goldman Sachs slightly raised China Life Insurance's target price from 18 yuan to 19 yuan and maintained a 'buy' rating on its listed in hong kong shares.

Goldman Sachs maintains China Life Insurance's dividend forecast for this year at 0.65 Chinese yuan per share, equivalent to a 51% annual increase, meaning the dividend payout rate for this year is around 17%. Based on a 30% payout rate estimate, the dividend forecasts for 2025 and 2026 are adjusted by 6% and 3% respectively. In addition, Goldman Sachs has raised its new business value forecasts for China Life Insurance in 2024 to 2026 by 6% to 10%, reflecting better-than-expected profit margins expansion up to now this year, and the anticipated further decline in policy guarantee income in the fourth quarter of this year.