Ge Long Hui·2025-08-08 06:07Core 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 fees and net investment income performance, which is believed to be below the market's general expectation of a 20% year-on-year growth [1] Summary by Categories Profit Forecast - Citigroup currently 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] Rating and Target Price - Citigroup maintains a "Buy" rating for China Life, with a target price set at 26.1 HKD, while still optimistic about the company's brand strength and long-term growth potential [1]