Core Viewpoint - The article highlights the significant growth in China Life's financial performance for the first three quarters of 2025, driven by increased investment income and improved business quality [5][6]. Financial Performance - In the first three quarters of 2025, China Life reported operating revenue of 537.9 billion yuan, a year-on-year increase of 25.9% [5]. - The net profit attributable to shareholders reached 167.8 billion yuan, reflecting a substantial year-on-year growth of 60.5% [5]. - The net assets attributable to shareholders stood at 625.83 billion yuan, up 22.8% from the beginning of the year [5]. - The weighted average return on equity was 29.3%, an increase of 9.3% year-on-year [5]. - The comparable new business value grew by 41.8% year-on-year [5]. - The annualized total investment return rate was 6.4%, up by 1.0 percentage point year-on-year [5][9]. Investment Income - The total investment income for the first three quarters increased by 41.0% to 368.55 billion yuan, significantly contributing to the net profit growth [6]. - The third quarter alone saw a remarkable net profit increase of 91.5% year-on-year, amounting to 126.87 billion yuan [6]. Sales Force and Business Quality - As of the end of Q3 2025, the total sales force comprised 657,000 individuals, a decrease of 5.3% year-on-year [7]. - The individual insurance sales force also decreased by 5.3% year-on-year but showed a quarter-on-quarter increase of 2.5% [7]. - The retention rate and quality of the sales team improved, with a stable business quality reflected in a retention rate of 0.7%, unchanged year-on-year [7]. Premium Income and New Business Value - Premium income for the first three quarters reached 669.65 billion yuan, a year-on-year increase of 10.1% [8]. - The new single premium income was 218.03 billion yuan, up 10.4% year-on-year, with a notable improvement in growth rates across the quarters [8]. - The proportion of floating income-type business in the first-year premium income increased by over 45 percentage points, indicating a successful transformation [8]. - The new business value saw a year-on-year increase of 41.8%, with a significant expansion in growth compared to the first half of the year [8]. Investment Assets - By the end of Q3 2025, the total investment assets reached 7.3 trillion yuan, an increase of 10.2% from the beginning of the year [9].