Morgan Stanley released a research report highlighting that CHINA LIFE (02628) reported its Q3 net profit with the highest earnings growth among peers, up 60.5% for the first nine months of the year. This implies annualized ROE of 88.3% for Q3 and 39.4% for the first nine months. The company's new business value growth accelerated to 41.8% in the first nine months, compared to 20.3% in H1. Morgan Stanley noted that CHINA LIFE's key metrics outperformed most peers, and management remains optimistic about next year's outlook. The bank maintains a target price of HK$25.7 with an "Overweight" rating.