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<Research>CMBI Lifts CHINA LIFE (02628.HK) TP to HKD34; Strong 1Q26 NBV
CMBI issued a research report on CHINA LIFE (02628.HK), which delivered mixed results in 1Q26. Net profit shed 32.3% YoY to RMB19.5 billion, below the broker's forecast of RMB2...
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<Research>CMBI Lifts CHINA LIFE (02628.HK) TP to HKD34; Strong 1Q26 NBV
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CMBI issued a research report on CHINA LIFE (02628.HK)  +0.200 (+0.696%)    Short selling $349.66M; Ratio 36.667%   , which delivered mixed results in 1Q26. Net profit shed 32.3% YoY to RMB19.5 billion, below the broker's forecast of RMB20.4 billion, owing to fair value losses amid equity market turbulence.

However, NBV proliferated 75.5% YoY, way beyond the market's and the broker's expectations, reflecting significant progress in shifting toward longer-duration and regular-paid products.

Related News CICC: Short-term Capital Overhang to Reverse; Expects Valuation Recovery in Mainland Insurers, Recommends CPIC (02601.HK), PING AN (02318.HK) etc.
The Buy rating was maintained, with the TP added from HKD33 to HKD34 to reflect the stronger CNY/HKD exchange rate.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.)

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