Citi has released a research report, raising the target price for CHINA LIFE (02628) to HK$36.2 and reiterating a "Buy" rating.

The bank projects that China Life's new business value will see a 32% year-on-year increase in the first half of the year. Additionally, China Life previously issued a profit alert, estimating that its net profit for the first half of the year will surge between 215% and 235% year-on-year, primarily driven by improved investment returns due to better capital market performance in the second quarter.

Citi has raised its 2026 fiscal year earnings per share forecast for China Life by 19%, reflecting a higher projection of investment returns.