4Q net loss markedly narrowed; VNB grew in low-teens despite revised EV assumptions

M N 8 Apr 2024 CMB International Global Markets | Equity Research | Company Update China Life (2628 HK) 4Q net loss markedly narrowed; VNB grew in low-teens despite revised EV assumptions China Life disclosed full-year results with net profit attributable to shareholders Target Price HK$13.70 amounted to RMB 46.2bn (-30.7% YoY), equivalent to RMB 10.6bn net profit in (Previous TP HK$17.81) 4Q23 (-4.7% YoY), significantly narrowed from -103.8% YoY to a net loss of RMB Up/Downside 47.2% 610mn in 3Q23 (IFRS-ba ...