Chang Jiang Shang Bao·2025-11-04 00:12Core Viewpoint - China Life Insurance's strong performance in equity investments has led to rapid growth in its financial results, with significant increases in revenue and net profit for the first three quarters of 2025 [2][3][4]. Financial Performance - For the first three quarters of 2025, China Life achieved operating revenue of 537.895 billion yuan, a year-on-year increase of 25.9%, and a net profit attributable to shareholders of 167.804 billion yuan, up 60.5% [2][3]. - In Q3 2025, the company reported operating revenue of 298.66 billion yuan, a 54.77% increase year-on-year, and a net profit of 126.873 billion yuan, marking a 91.52% increase, with quarterly net profit exceeding 100 billion yuan for the first time [2][4]. Premium Growth - Total premiums for the first three quarters reached 669.645 billion yuan, a 10.1% increase year-on-year, setting a historical high for the same period [5]. - Renewal premiums were 451.611 billion yuan, up 10.0%, while new premiums reached 218.034 billion yuan, increasing by 10.4% [5]. Investment Performance - Total investment income for the first three quarters was 368.551 billion yuan, a 41.0% increase year-on-year, with an investment yield of 6.42%, up 104 basis points [8]. - As of September 30, 2025, total assets amounted to 7.42 trillion yuan, with investment assets at 7.28 trillion yuan, reflecting growth of 9.6% and 10.2% respectively from the end of 2024 [8]. Strategic Initiatives - The company plans to invest 2 billion yuan in a joint venture with related parties to establish a fund focused on sectors such as semiconductors, digital energy, and smart electric vehicles [9][10]. - China Life is actively enhancing its marketing system and transitioning its sales force towards professionalization and specialization [6][7].