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</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"02628","symbol_name":"中國人壽","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. The bank raised its full-year net profit forecast by...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"601628":"中国人寿","02628":"中国人寿","BK0196":"行业龙头","LU0307460666.USD":"EASTSPRING INVESTMENTS CHINA EQUITY \"A\" ACC","LU2097828474.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC A","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","BK0207":"保险","BK1550":"内险股","LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","BK1521":"挪威政府全球养老基金持仓","LU0173614495.USD":"富达中国焦点A","IE0032431581.USD":"PINEBRIDGE GREATER CHINA EQUITY \"A\" (USD) ACC","LU2097828805.USD":"AZ EQUITY CHINA \"A-AZ\" (USD) ACC","BK0183":"MSCI概念","BK0188":"融资融券","BK0012":"证金概念","SG9999012728.SGD":"United Asian Income Fund Dis SGD","LU2097828557.USD":"AZ EQUITY CHINA \"A\" (USD) ACC","BK0028":"国家队","LU0531971595.HKD":"HSBC GIF CHINESE EQUITY \"AD\" (HKD) INC","SG9999012710.SGD":"UNITED ASIAN INCOME (SGDHDG) ACC","LU0871576103.HKD":"HSBC GIF CHINESE EQUITY \"AC\" (HKD) ACC","LU2097828631.EUR":"AZ EQUITY CHINA \"A\" (EUR) ACC","LU0164865239.USD":"HSBC GIF CHINESE EQUITY \"AC\" (USD) ACC","SG9999012744.USD":"UNITED ASIAN INCOME (USDHDG) INC","HK0000165453.HKD":"华夏精选大中华科技基金 A类港币","LU2097828714.EUR":"AZ EQUITY CHINA \"BAZ\" (EUR) ACC","BK1184":"人寿与健康保险","BK1584":"蚂蚁金服概念","LU0287142896.SGD":"Fidelity China Focus A-SGD","SG9999012736.USD":"UNITED ASIAN INCOME (USDHDG) ACC","LU1046422090.SGD":"Fidelity Pacific A-SGD"},"translate_title":"高盛：预计中国人寿(02628)全年股息同比升23%，超预期；维持“中性”评级","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601628":1,"02628":1},"content_text":"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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