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<Research>CLSA Raises CHINA LIFE's TP to HKD37; 1Q NP Largely in Line
Recommend 7 Positive 11 Negative 3 |
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CHINA LIFE (02628.HK) has released its 1Q26 results, in which the greatest highlight is the 76% YoY increase in new business value, which has strongly exceeded market expectations, CLSA's research report said. In contrast, affected by weak equity market performance and a high base, CHINA LIFE's net profit sank by 32% YoY, largely in line with CLSA's expectations. CLSA has lifted its target price for CHINA LIFE from HKD33 to HKD37, mainly reflecting rapid growth in new business value, higher net asset value, and RMB appreciation. It has also named CHINA LIFE as its top pick among Chinese insurers, with a rating reiterated as Outperform. Auto-translated by AI AASTOCKS Financial News |
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