Zhi Tong Cai Jing·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 from management for 2026 [1] Summary by Categories Earnings Forecast - The net profit forecast for the full year has been raised by 69% due to strong investment returns in the last quarter [1] - Net profit forecasts for 2026 and 2027 have been increased by 7% [1] Premium Predictions - Premium forecasts for 2025 to 2027 have been adjusted upward by 7%, reflecting improved sales through bank insurance channels [1] Valuation Adjustments - Book value forecasts for 2025 to 2027 have been raised by 5% to 7% [1] - The earnings per share dividend forecast has been increased by 10%, with this year's dividend expected to grow by 23%, surpassing the previous estimate of 12% [1] Target Price - The target price for China Life has been raised from HKD 22.5 to HKD 24.5, while maintaining a "Neutral" rating [1]