华泰证券发表研究报告指，中国人寿公布上半年业绩，每股盈利1.45元，按年提升6.9%，主要因为所得税费用大幅减少，税前利润实际按年下降11.5%。中期股息按年增长19%，快于利润增长速度。新业务价值可比口径下按年增长20%，稳步增长。投资表现略逊于上年，年化净/总投资收益率分别下降0.25/0.3百分点至2.78%/3.29%。 考虑到投资影响，该行调整2025年至2027年每股盈利预测至3.20元、3.31元及3.75，调整幅度-3.0%/12.5%/13.8%。考虑到较好的增长势头，该行调高新业务价值增速预期，A股目标价从48元上调至49元，H股目标价从20港元上调至26港元，维持“买入”评级。
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