Group 1 - China Life Insurance (02628.HK) announced plans to invest RMB 2 billion and RMB 10 million in equity investment plans established by Guoshou Investment, with contracts expected to be signed by March 31, 2026 [1] - The investment will primarily focus on sectors such as semiconductors, digital energy, and smart electric vehicles [1] - As of October 30, 2025, China Life's stock closed at HKD 24.72, down 1.28%, with a trading volume of 82.187 million shares and a turnover of HKD 2.058 billion [1] Group 2 - The stock has received a majority "overweight" rating from investment banks, with one bank issuing an overweight rating in the last 90 days and a target average price of HKD 29.5 [1] - The latest report from Xingzheng International gives China Life an overweight rating [1] - China Life's market capitalization in the Hong Kong stock market is HKD 186.327 billion, ranking 5th in the insurance industry [2] Group 3 - Key performance indicators for China Life include a Return on Equity (ROE) of 21.57%, which is significantly higher than the industry average of 13.8%, ranking 2nd in the industry [2] - The company reported operating revenue of HKD 533.88 billion, also above the industry average of HKD 272.89 billion, ranking 4th [2] - The net profit margin stands at 17.52%, slightly above the industry average of 17.41%, ranking 6th [2]

Core Viewpoint - China Life Insurance (02628) and Guoshou Industry plan to invest a total of RMB 2 billion and RMB 10 million respectively in a private equity investment plan established by Guoshou Investment, focusing on sectors such as semiconductors, digital energy, and smart electric vehicles [1] Investment Details - China Life Insurance will invest RMB 2 billion, while Guoshou Industry will invest RMB 10 million in the equity investment plan [1] - The company and Guoshou Industry intend to enter into a trust contract with Guoshou Investment, with terms identical to those of the investment amounts [1] - The expected date for signing the trust contract with Guoshou Investment is by March 31, 2026 [1] Sector Focus - The investment plan will primarily target sectors including semiconductors, digital energy, and smart electric vehicles [1]

Core Insights - China Life Insurance (02628) reported a significant increase in revenue and net profit for the first three quarters of 2025, with operating income reaching 537.895 billion yuan, a year-on-year growth of 25.9%, and net profit attributable to shareholders amounting to 167.804 billion yuan, reflecting a 60.5% increase [1] Financial Performance - The company achieved total premium income of 669.645 billion yuan, marking a 10.1% year-on-year increase, with renewal premiums at 451.611 billion yuan, up 10.0%, and new premiums at 218.034 billion yuan, growing by 10.4% [1] - Short-term insurance premiums reached 75.149 billion yuan, showing a 2.0% increase [1] - The total premium scale set a historical high for the same period, with all categories of premiums (total, new, and renewal) experiencing double-digit growth, and renewal premium growth reaching the highest level since 2021 for the same period [1] Strategic Initiatives - The growth in performance is attributed to the company's ongoing efforts to deepen asset-liability management, diversify products and services, and effectively control liability costs [1] - The company has also increased its equity investment efforts, leading to a substantial rise in investment income compared to the previous year [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 公告 續展本公司與安保基金之持續關連交易 茲提述本公司日期為2022年10月27日的公告，內容有關（其中包括）本公司與安保基金 訂立的現有框架協議，該協議將於2025年12月31日屆滿。 董事會宣布，本公司擬於現有框架協議屆滿後繼續與安保基金進行日常交易，主要包 括基金產品的認（申）購和贖回，以及私募資產管理。就此，本公司擬於2025年12月31 日前與安保基金訂立框架協議。 集團公司為本公司的控股股東，目前持有本公司約68.37%的已發行股本，為本公司的 關連人士。資產管理公司為本公司的非全資附屬公司，並由集團公司持有其40%的已 發行股本，為本公司的關連附屬公司。安保基金為資產管理公司的非全資附屬公司， 也為本公司的關連附屬公司。因此，框架協議下之交易構成本公司在上市規則第14A 章下之持續關連交易。鑒於(i)本公司認（申）購基金產品的金額和費用的年度上限，或 (ii)本公司贖回基金產品的金額和費用 ...

Core Insights - China Life Insurance Company reported a strong growth in new business value by 41.8% for the first three quarters of 2025, with net profit attributable to shareholders exceeding 167.8 billion yuan, marking a 60.5% increase year-on-year [1] - The total premium income reached 669.645 billion yuan, a year-on-year growth of 10.1%, with new single premium income at 218.034 billion yuan, up 10.4% [1] - The company emphasized the importance of asset-liability management and has seen comprehensive improvements in management effectiveness [1] Business Development - China Life is focusing on diversified product offerings, with new single premium income from life insurance, annuity insurance, and health insurance accounting for 31.95%, 32.47%, and 31.15% respectively, indicating balanced development [1] - The company is actively promoting the "Guo Shou Good Service" brand, enhancing its product lines in health insurance, including long-term disability income loss insurance and various other innovative products [2] - As of September 30, 2025, China Life's total sales force stood at 657,000, with individual insurance sales personnel numbering 607,000, maintaining the industry's largest team [2] Digital Transformation - China Life is advancing its digital claims service system, with over 48 million claims paid in the first half of 2025, totaling 160.9 billion yuan, including over 34 billion yuan for health insurance claims [2] - The company is enhancing its digital infrastructure, focusing on intelligent and simplified data management, and integrating AI technologies into its business operations [3] - China Life is committed to ESG principles, promoting environmentally friendly investments and inclusive insurance products to support sustainable development [3]

Core Viewpoint - China Life Insurance reported a net profit of over 167.8 billion yuan for the first three quarters, marking a 60.5% increase compared to the same period last year [1] Financial Performance - The company achieved a total investment income of 368.55 billion yuan in the first three quarters of 2025, an increase of 107.1 billion yuan compared to the same period in 2024 [1] - The net profit attributable to shareholders exceeded 167.8 billion yuan, reflecting strong growth despite a high base from the previous year [1] Capital Adequacy - As of September 30, 2025, China Life maintained a high level of solvency, with a core solvency adequacy ratio of 137.50% and a comprehensive solvency adequacy ratio of 183.94% [1] - The company has consistently maintained an A-class rating in the comprehensive risk assessment of insurance companies for 29 consecutive quarters [1]

Core Insights - China Life Insurance (02628.HK) reported a significant increase in revenue and net profit for Q3 2025, with revenue reaching approximately RMB 298.66 billion, a year-on-year increase of 54.8%, and net profit approximately RMB 126.87 billion, up 91.5% [1] - For the first three quarters of 2025, the company achieved revenue of approximately RMB 537.90 billion, reflecting a year-on-year growth of 25.9%, and net profit of approximately RMB 167.80 billion, which is a 60.5% increase compared to the previous year [1] Financial Performance - Q3 2025 revenue: RMB 298.66 billion, up 54.8% year-on-year [1] - Q3 2025 net profit: RMB 126.87 billion, up 91.5% year-on-year [1] - Basic earnings per share: RMB 4.49 [1] - First three quarters 2025 revenue: RMB 537.90 billion, up 25.9% year-on-year [1] - First three quarters 2025 net profit: RMB 167.80 billion, up 60.5% year-on-year [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 中國人壽保險股份有限公司 CHINA LIFE INSURANCE COMPANY LIMITED (於中華人民共和國註冊成立之股份有限公司) (股份代號: 2628) 海外監管公告 2025 年 10 月 30 日 於本公告日期，本公司董事會由以下人士組成： 執行董事： 蔡希良、利明光、劉暉、阮琦 非執行董事： 王軍輝、胡錦、胡容、牛凱龍 根據中華人民共和國（「中國」）有關法律法規，本公司於上海證券交易所網站 (www.sse.com.cn)及中國報章刊登「中國人壽保險股份有限公司日常關聯交易進展公 告」。 獨立非執行董事： 林志權、翟海濤、陳潔、盧鋒 本公告乃由中國人壽保險股份有限公司（「本公司」）根據香港聯合交易所有限公司上市 規則第 13.10B 條規定而刊登。 茲載列該公告如下，僅供參閱。 證券代碼：601628 證券簡稱：中國人壽 編號：臨 2025－038 重要提示 本公司董事會及全體董事 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 中國人壽保險股份有限公司 CHINA LIFE INSURANCE COMPANY LIMITED 2025 年 10 月 30 日 於本公告日期，本公司董事會由以下人士組成： 執行董事： 蔡希良、利明光、劉暉、阮琦 非執行董事： 王軍輝、胡錦、胡容、牛凱龍 (於中華人民共和國註冊成立之股份有限公司) (股份代號: 2628) 海外監管公告 本公告乃由中國人壽保險股份有限公司（「本公司」）根據香港聯合交易所有限公司上市 規則第 13.10B 條規定而刊登。 根據中華人民共和國（「中國」）有關法律法規，本公司於上海證券交易所網站 (www.sse.com.cn)及中國報章刊登「中國人壽保險股份有限公司第八屆監事會第九次會 議決議公告」。 茲載列該公告如下，僅供參閱。 獨立非執行董事： 林志權、翟海濤、陳潔、盧鋒 第八屆監事會第九次會議決議公告 本公司第八屆監事會第九次會議於 2025 年 10 月 23 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 中國人壽保險股份有限公司 CHINA LIFE INSURANCE COMPANY LIMITED 獨立非執行董事： 林志權、翟海濤、陳潔、盧鋒 (於中華人民共和國註冊成立之股份有限公司) (股份代號: 2628) 海外監管公告 本公告乃由中國人壽保險股份有限公司（「本公司」）根據香港聯合交易所有限公司上市 規則第 13.10B 條規定而刊登。 根據中華人民共和國（「中國」）有關法律法規，本公司於上海證券交易所網站 (www.sse.com.cn)及中國報章刊登「中國人壽保險股份有限公司第八屆董事會第二十一 次會議決議公告」。 茲載列該公告如下，僅供參閱。 2025 年 10 月 30 日 於本公告日期，本公司董事會由以下人士組成： 執行董事： 蔡希良、利明光、劉暉、阮琦 非執行董事： 王軍輝、胡錦、胡容、牛凱龍 | 證券代碼：601628 證券簡稱：中國人壽 | 編號：臨 | 2025－036 | | ...