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CHINA LIFE Advances 5%+ Post-Results as M Stanley, JPM Say 1Q VNB Growth Strong
Recommend 10 Positive 14 Negative 3 |
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CHINA LIFE (02628.HK) opened 4.01% higher today, and peaked at $29.18. It last printed at $28.84, advancing 5.26%, with 38.4531 million shares traded, involving $1.107 billion. After market close yesterday, CHINA LIFE announced its 1Q26 results. Net profit attributable to equity holders of the Company amounted to RMB19.505 billion, down 32.3% YoY. Basic EPS were RMB0.69. During the period, operating income was RMB93.291 billion, down 15.3% YoY. Gross written premiums reached RMB358.478 billion, up 1.1% YoY. The value of new business (VNB) increased by 75.5%. JPMorgan said that the strong growth in CHINA LIFE's VNB offset the negative impact from the earnings decline, and reiterated the stock as its sector top pick, with rating/ target price at Overweight/ $40. CHINA LIFE's 1Q26 VNB growth of 76% was robust and significantly outperformed peers, Morgan Stanley stated. Despite a 32% drop in earnings, results were still slightly better than market expectations, with continued improvement in business quality. Therefore, the broker rated CHINA LIFE at Overweight, with a target price of $37.9. Auto-translated by AI AASTOCKS Financial News |
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