Goldman Sachs: Expects CHINA LIFE (02628) Full-Year Dividend to Rise 23% YoY, Exceeding Forecast; Maintains "Neutral" Rating

Stock News

11/10

Goldman Sachs adjusted its earnings forecasts for CHINA LIFE (02628) based on its Q3 performance, noting better-than-expected investment returns. The bank raised its full-year net profit forecast by 69% and increased first-year premium forecasts for 2025–2027 by 7%, reflecting strong bancassurance sales and management's positive outlook for 2026.

Due to an expanded investment portfolio and stronger premium inflows, Goldman also raised net profit forecasts for 2026–2027 by 7%, book value forecasts for 2025–2027 by 5%–7%, and dividend per share forecasts by 10%. The projected dividend for this year is now expected to grow 23% year-on-year, surpassing the previous estimate of 12%.

The target price was raised from HK$22.5 to HK$24.5, while maintaining a "Neutral" rating.

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The bank raised its full-year net profit forecast by 69% and increased first-year premium forecasts for 2025–2027 by 7%, reflecting strong bancassurance sales and management's positive outlook for 2026.</p>\n<p>Due to an expanded investment portfolio and stronger premium inflows, Goldman also raised net profit forecasts for 2026–2027 by 7%, book value forecasts for 2025–2027 by 5%–7%, and dividend per share forecasts by 10%. The projected dividend for this year is now expected to grow 23% year-on-year, surpassing the previous estimate of 12%.</p>\n<p>The target price was raised from HK$22.5 to HK$24.5, while maintaining a \"Neutral\" rating.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"02628","symbol_name":"中国人寿","start_time":0,"source_url":"","article_id":"1181785952","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1181785952","pubTimestamp":1762767035,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"Goldman Sachs adjusted its earnings forecasts for CHINA LIFE (02628) based on its Q3 performance, noting better-than-expected investment returns. 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The bank raised its full-year net profit forecast by 69% and increased first-year premium forecasts for 2025–2027 by 7%, reflecting strong bancassurance sales and management's positive outlook for 2026.\nDue to an expanded investment portfolio and stronger premium inflows, Goldman also raised net profit forecasts for 2026–2027 by 7%, book value forecasts for 2025–2027 by 5%–7%, and dividend per share forecasts by 10%. The projected dividend for this year is now expected to grow 23% year-on-year, surpassing the previous estimate of 12%.\nThe target price was raised from HK$22.5 to HK$24.5, while maintaining a \"Neutral\" rating.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}