Hua Er Jie Jian Wen·2025-10-20 03:27Core Viewpoint - China Life Insurance is expected to report a significant increase in net profit for the first three quarters of 2025, driven by strong performance in the equity market and strategic investments in new productive capacities [1][2]. Financial Performance - The estimated net profit attributable to the parent company's shareholders for the first three quarters of 2025 is projected to be between RMB 156.79 billion and RMB 177.69 billion, representing a year-on-year increase of approximately 50% to 70% [1]. - The net profit for the first three quarters, excluding non-recurring gains and losses, is expected to be between RMB 157.01 billion and RMB 177.95 billion, also reflecting a year-on-year growth of about 50% to 70% [1]. Investment Strategy - The company emphasizes its commitment to serving the real economy through long-term, value-oriented, and stable investment strategies, enhancing investment capabilities, and improving the stability of investment returns [1]. - China Life has actively increased its equity investment efforts in response to the recovering stock market, optimizing its asset allocation structure to capture market opportunities [2]. Historical Context - The projected profit for the third quarter is estimated to reach between RMB 115.9 billion and RMB 136.8 billion, with a year-on-year growth rate of 75% to 106%, marking a record high for the company [2][3].