Xin Lang Cai Jing·2025-08-08 06:09Core Viewpoint - Citigroup has initiated a 30-day negative catalyst observation period for China Life Insurance, expressing concerns that the company's profit growth in the first half of 2025 may fall short of expectations due to declining interest rates impacting insurance service costs and net investment income performance [1] Summary by Relevant Categories Profit Forecast - Citigroup predicts that China Life's net profit will grow by 5% year-on-year to 40.3 billion yuan, indicating a significant slowdown compared to the first quarter [1] Market Expectations - The anticipated profit growth is expected to be below the market's general expectation of a 20% year-on-year increase [1] Investment Rating - Despite the concerns, Citigroup maintains a "Buy" rating for China Life, with a target price of 26.1 HKD, citing the company's brand strength and long-term growth potential [1]