Xin Lang Cai Jing·2025-10-31 06:30Core Viewpoint - China Life Insurance reported a significant increase in net profit for Q3 2025, achieving 167.8 billion yuan, a year-on-year growth of 60.5%, aligning with previous forecasts of a 50% to 70% increase [1] Group 1: Financial Performance - In the first nine months of 2025, the company saw insurance service revenue increase by 2.3%, with a substantial year-on-year growth of 73.8% in insurance service performance, recovering from a decline of 18.1% in the first half of 2025 [3] - The annualized total investment return for the first nine months of 2025 was 6.42%, an increase of 104 basis points year-on-year, with total investment income rising by 41.0% [3] - The company's net assets reached 625.83 billion yuan, marking a year-to-date increase of 22.8% and a 19.5% increase compared to the first half of 2025, the highest since the implementation of new accounting standards [3] Group 2: Investment Strategy - The company is actively increasing equity investments and optimizing asset allocation to capture market opportunities, leading to a significant rise in investment income [4] - The company has focused on enhancing value creation and efficiency, with a notable improvement in the new business value (NBV), which grew by 41.8% year-on-year in the first nine months of 2025 [5] Group 3: Sales and Marketing - The company achieved new single premium income of 218.03 billion yuan, a year-on-year increase of 10.4%, with a quarterly growth rate of 52.5% in Q3 2025, attributed to the release of customer demand and proactive product launches [5] - The total sales force was 657,000, showing a year-on-year decrease of 5.3% but a quarter-on-quarter increase of 2.5%, indicating stability in the sales team [5] Group 4: Future Outlook - Based on the Q3 performance, the company has adjusted its profit forecasts for 2025-2027, expecting net profits of 99.44 billion, 119.10 billion, and 141.24 billion yuan, with year-on-year growth rates of -7.0%, 19.8%, and 18.6% respectively [6]