智通财经网·2025-11-10 09:32Core Viewpoint - Goldman Sachs has adjusted its future profit forecasts for China Life (02628) based on the company's third-quarter performance, highlighting better-than-expected investment returns and a positive outlook for 2026 [1] Financial Performance - The net profit forecast for the full year has been raised by 69% due to strong investment returns in the last quarter [1] - The net profit forecasts for 2026 and 2027 have been increased by 7% each, reflecting enhanced premium inflows and an expanded investment portfolio [1] Premium and Valuation Adjustments - The first-year premium forecasts for 2025 to 2027 have been raised by 7% to account for improved sales channels in the banking and insurance sectors [1] - The book value forecasts for 2025 to 2027 have been adjusted upwards by 5% to 7% [1] Dividend and Target Price Changes - The per-share dividend forecast has been increased by 10%, with the annual dividend expected to grow by 23% year-on-year, surpassing the previous estimate of 12% growth [1] - The target price for China Life has been raised from HKD 22.5 to HKD 24.5, while maintaining a "Neutral" rating [1]