China Life Insurance Company Limited(02628) when the interim results for 2020 were released, the group's net profit attributable to the company's shareholders reached 30.535 billion yuan (the same below), down 18.8 per cent from the same period last year. The company achieved a total premium income of 427.367 billion yuan, an increase of 13.1% over the same period last year. The basic earnings per share and diluted earnings are 1.07 yuan.

The internal value of the company reached 1.015856 trillion yuan by the end of the reporting period, an increase of 7.8 percent from the end of 2019, the announcement said. In the first half of the year, the value of new business reached 36.889 billion yuan, an increase of 6.7% over the same period last year. During the reporting period, the company continued to strengthen its asset and liability management, achieving a total investment income of 96.134 billion yuan, an increase of 8.1% over the same period in 2019. By the end of the reporting period, the core solvency adequacy ratio and the comprehensive solvency adequacy ratio reached 258.24% and 267.31%, respectively.

In the first half of 2020, the company achieved a net investment income of 77.391 billion yuan, an increase of 5.361 billion yuan over the same period in 2019, and an increase of 7.4% over the same period last year. Affected by the sharp decline in interest rates during the year and the postponement of dividends on listed stocks in positions, the net investment return was 4.29%, down 37 basis points from the same period in 2019. Equity investment should seize the market opportunity to optimize the variety structure and portfolio strategy, timely implement the rebalance of tactical allocation, and carefully control the exposure while maintaining the stability of income contribution.

The company's total investment income was 96.134 billion yuan, an increase of 7.211 billion yuan over the same period in 2019, and the total return on investment was 5.34%, 44 basis points lower than the same period in 2019. After taking into account the net changes in the fair value of available-for-sale securities included in other comprehensive income in the current period, the comprehensive investment rate of return 1 is 5.40%, which is 285 basis points lower than that of the same period in 2019.