Ge Long Hui·2025-11-05 02:45Core Viewpoint - China Life Insurance reported impressive third-quarter results, with net profit nearly doubling to 126 billion yuan, a year-on-year increase of 92%, driven by growth in both insurance and investment services [1] Financial Performance - Net profit for the first nine months reached 167.8 billion yuan, reflecting a year-on-year growth of 61% [1] - The third-quarter profit growth outpaced peers, primarily due to the dual drivers of insurance service performance and investment service performance [1] Future Outlook - The low base effect from significant interest rate declines in the same period last year may drive profit growth in the fourth quarter [1] - Earnings per share forecasts for fiscal years 2025 to 2027 have been revised upward to 6.03 yuan, 4.41 yuan, and 4.95 yuan, respectively [1] Investment Rating - The new business value growth forecast for the year has been adjusted upward to 38% [1] - The investment rating for China Life Insurance is maintained as "Buy," with the target price increased from 29 HKD to 31 HKD [1]