里昂：中国人寿(02628)去年每股派息升32%超原先指引评级“跑赢大市”

智通财经

Yesterday

智通财经APP获悉，里昂发布研报称，考虑到近期A股市场调整，修订中国人寿(02628)盈利及账面值预测，但维持H股目标价33港元及中国人寿(601628.SH)A股目标价45元人民币不变。H股评级为“跑赢大市”，A股评级为“持有”。

中国人寿2025年纯利符合预期，宣派末期息每股0.618元人民币(下同)，全年每股派息达0.856元，同比增长32%，优于先前指引。虽然偿付能力下降，但管理层预期今年首季末将回升至161%。全年纯利同比增长44%至1,540.78亿元，意味第四季录得净亏损130亿元，该行认为属预期之内，主要由于比较基数已高及第四季资本市场调整所致。第四季净资产按季减少310亿元，或反映部分按市价计值投资亏损。

该行指出，股票投资占总投资组合比例同比提升3.67个百分点，为最显著的投资资产配置转变，主要来自债券投资占比下降1.68个百分点及非标股权投资占比下降1.33个百分点。新业务价值同比增长36%，主要由银行保险及其他渠道带动，该渠道新业务价值同比增长169%，代理人渠道新业务价值同比增长25%。该行认为，中国人寿是行业监管收紧银行佣金支付及定期存款转投保险产品趋势的主要受惠者。

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2622831425"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2622831425\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2622831425?lang=en_US&edition=fundamental","thumbnail":"","is_english":false,"pubTime":"2026-03-26 15:06","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2622831425","market":"hk","top_or_hot":-1,"title":"里昂：中国人寿(02628)去年每股派息升32%超原先指引 评级“跑赢大市”","media":"智通财经","content":"<html><body><p>智通财经APP获悉，里昂发布研报称，考虑到近期A股市场调整，修订<a href=\"https://laohu8.com/S/601628\">中国人寿</a>(02628)盈利及账面值预测，但维持H股目标价33港元及<a href=\"https://laohu8.com/S/02628\">中国人寿</a>(601628.SH)A股目标价45元人民币不变。H股评级为“跑赢大市”，A股评级为“持有”。</p><p>中国人寿2025年纯利符合预期，宣派末期息每股0.618元人民币(下同)，全年每股派息达0.856元，同比增长32%，优于先前指引。虽然偿付能力下降，但管理层预期今年首季末将回升至161%。全年纯利同比增长44%至1,540.78亿元，意味第四季录得净亏损130亿元，该行认为属预期之内，主要由于比较基数已高及第四季资本市场调整所致。第四季净资产按季减少310亿元，或反映部分按市价计值投资亏损。</p><p>该行指出，股票投资占总投资组合比例同比提升3.67个百分点，为最显著的投资资产配置转变，主要来自债券投资占比下降1.68个百分点及非标股权投资占比下降1.33个百分点。新业务价值同比增长36%，主要由银行保险及其他渠道带动，该渠道新业务价值同比增长169%，代理人渠道新业务价值同比增长25%。该行认为，中国人寿是行业监管收紧银行佣金支付及定期存款转投保险产品趋势的主要受惠者。</p></body></html>","source":"stock_zhitongcaijing","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>里昂：中国人寿(02628)去年每股派息升32%超原先指引 评级“跑赢大市”</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n里昂：中国人寿(02628)去年每股派息升32%超原先指引 评级“跑赢大市”\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-03-26 15:06 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1419404.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，里昂发布研报称，考虑到近期A股市场调整，修订中国人寿(02628)盈利及账面值预测，但维持H股目标价33港元及中国人寿(601628.SH)A股目标价45元人民币不变。H股评级为“跑赢大市”，A股评级为“持有”。中国人寿2025年纯利符合预期，宣派末期息每股0.618元人民币(下同)，全年每股派息达0.856元，同比增长32%，优于先前指引。虽然偿付能力下降，但管理层预期今年...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1419404.html\">Source Link</a>\n\n</div>\n\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":"http://www.zhitongcaijing.com/content/detail/1419404.html","article_id":"2622831425","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2622831425","pubTimestamp":1774508804,"columns":[],"sourceInfo":{"source_id":"stock_zhitongcaijing","name":"智通财经网"},"weMediaInfo":null,"summary":"智通财经APP获悉，里昂发布研报称，考虑到近期A股市场调整，修订中国人寿盈利及账面值预测，但维持H股目标价33港元及中国人寿A股目标价45元人民币不变。H股评级为“跑赢大市”，A股评级为“持有”。中国人寿2025年纯利符合预期，宣派末期息每股0.618元人民币(下同)，全年每股派息达0.856元，同比增长32%，优于先前指引。该行认为，中国人寿是行业监管收紧银行佣金支付及定期存款转投保险产品趋势的主要受惠者。","collect":0,"end_time":0,"defaultTopTitle":"zhitongcaijing.com","property":["rate"],"viewcount":null,"language":"zh","relate_stocks":{"601628":"中国人寿","02628":"中国人寿"},"translate_title":"Lyon: China Life's (02628) dividend per share rose 32% last year, exceeding the original guidance rating of \"outperform\"","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"601628":1.5,"02628":1.5},"content_text":"智通财经APP获悉，里昂发布研报称，考虑到近期A股市场调整，修订中国人寿(02628)盈利及账面值预测，但维持H股目标价33港元及中国人寿(601628.SH)A股目标价45元人民币不变。H股评级为“跑赢大市”，A股评级为“持有”。中国人寿2025年纯利符合预期，宣派末期息每股0.618元人民币(下同)，全年每股派息达0.856元，同比增长32%，优于先前指引。虽然偿付能力下降，但管理层预期今年首季末将回升至161%。全年纯利同比增长44%至1,540.78亿元，意味第四季录得净亏损130亿元，该行认为属预期之内，主要由于比较基数已高及第四季资本市场调整所致。第四季净资产按季减少310亿元，或反映部分按市价计值投资亏损。该行指出，股票投资占总投资组合比例同比提升3.67个百分点，为最显著的投资资产配置转变，主要来自债券投资占比下降1.68个百分点及非标股权投资占比下降1.33个百分点。新业务价值同比增长36%，主要由银行保险及其他渠道带动，该渠道新业务价值同比增长169%，代理人渠道新业务价值同比增长25%。该行认为，中国人寿是行业监管收紧银行佣金支付及定期存款转投保险产品趋势的主要受惠者。","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":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"}}}