UBS released a research report stating that CHINA LIFE (02628) achieved a 42% year-on-year increase in new business value for the first nine months, surpassing market expectations. Post-tax net profit rose 61% to RMB 168 billion, landing at the midpoint of the earlier profit forecast. The bank noted that with robust new business value growth this year, CHINA LIFE holds a more constructive outlook for next year. UBS maintains a "Buy" rating on the stock with a target price of HKD 29.
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