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China Life Insurance Co
(2628)
China Life Insurance Co (2628) vs. iShares MSCI Hong Kong ETF (EWH)
China Life Insurance Co Business Overview & Revenue Model
China Life Insurance Co Earnings Call Summary
China Life Insurance Co Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 516.98B | 512.20B | 396.47B | 822.30B | 848.11B | 816.68B |
| Gross Profit | 515.20B | 510.40B | 394.74B | 66.12B | 85.99B | 56.08B |
| EBITDA | 221.69B | 120.24B | 57.00B | 33.84B | 60.88B | 62.94B |
| Net Income | 109.59B | 106.94B | 51.18B | 32.08B | 50.77B | 50.26B |
Balance Sheet | ||||||
| Total Assets | 7.29T | 6.77T | 5.89T | 5.25T | 4.89T | 4.25T |
| Cash, Cash Equivalents and Short-Term Investments | 120.93B | 86.52B | 2.41T | 1.87T | 1.49T | 1.27T |
| Total Debt | 36.97B | 49.27B | 48.97B | 49.34B | 55.86B | 57.21B |
| Total Liabilities | 6.76T | 6.25T | 5.42T | 4.81T | 4.40T | 3.80T |
| Stockholders Equity | 523.62B | 509.68B | 460.11B | 436.17B | 478.58B | 450.05B |
Cash Flow | ||||||
| Free Cash Flow | 329.56B | 374.82B | 384.06B | 348.89B | 280.97B | 296.56B |
| Operating Cash Flow | 300.44B | 378.80B | 388.23B | 351.97B | 286.45B | 304.02B |
| Investing Cash Flow | -449.35B | -354.62B | -428.10B | -164.96B | -393.73B | -292.80B |
| Financing Cash Flow | 81.58B | -86.76B | 60.27B | -120.09B | 111.14B | -7.76B |
China Life Insurance Co Technical Analysis
China Life Insurance Co Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | HK$250.58B | 5.92 | 34.37% | 5.24% | 49.90% | 203.77% | |
83 Outperform | HK$1.37T | 7.51 | 28.10% | 3.42% | 17.69% | 126.41% | |
78 Outperform | HK$453.48B | 6.57 | 17.99% | 3.05% | 9.40% | 79.93% | |
76 Outperform | HK$462.47B | 6.55 | 18.41% | 3.28% | 15.08% | 23.13% | |
72 Outperform | HK$1.34T | 8.32 | 14.53% | 4.25% | 10.20% | 19.74% | |
71 Outperform | HK$75.47B | 9.24 | 10.74% | 1.81% | 23.64% | 36.32% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
China Life Insurance Co Corporate Events
China Life Insurance Company Limited has announced the election of Li Wei as an employee representative director to the company’s eighth board, following his selection at the fourth session of the employee representative meeting, with his appointment pending approval by the National Financial Regulatory Administration. Li, currently general manager of the Labour Union Work Department, brings extensive operational and overseas experience from roles spanning customer service, bancassurance, e-commerce, strategic marketing, and management positions at China Life Insurance (Overseas) and PT China Life Insurance Indonesia, and will receive remuneration according to his management role rather than a director’s fee, signaling the insurer’s continued emphasis on internally developed leadership and regulatory-compliant governance structures.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$32.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited reported that all resolutions proposed at its second extraordinary general meeting of 2025, held in Beijing on 30 December, were duly passed by independent shareholders. Due to shareholding structure, its parent China Life Insurance (Group) Company abstained from voting on the resolutions, leaving 31.63% of the company’s issued shares, held by independent investors, eligible to vote; of these, shares representing about 30.5% of total voting rights were present through onsite and online participation, and the meeting was conducted in accordance with PRC company and securities laws and the firm’s articles of association, reinforcing governance compliance and formal shareholder backing for the approved measures.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$32.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited has obtained approval from China’s National Financial Regulatory Administration for amendments to its Articles of Association that were previously passed at its September 2025 extraordinary general meeting. With the amendments now effective, the company has abolished its Board of Supervisors and transferred the supervisory functions and powers, as defined under PRC Company Law and regulatory rules, to the audit committee under the Board of Directors, marking a significant change in its corporate governance structure. All existing supervisors, including Cao Weiqing, Gu Haishan, Ye Yinglan and Dong Haifeng, have retired with no reported disagreements, and the company has expressed formal gratitude for their service, signaling an orderly transition that aligns oversight responsibilities more tightly with the board’s audit committee and may streamline governance processes for stakeholders.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$32.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited has detailed the terms of reference for its Board Audit Committee, reinforcing the committee’s role in overseeing financial reporting, disclosure quality, internal and external audit work, and the effectiveness of internal controls. Comprised of three to five non-executive directors, with independent directors forming the majority and an accounting professional as chair, the committee is empowered to review key financial and control reports, recommend the appointment or dismissal of external auditors and the head of finance, and exercise supervisory powers traditionally held by a board of supervisors, including inspecting financial affairs, supervising directors and senior management, and proposing or convening shareholder and board meetings when necessary. The framework underscores a stronger governance structure by requiring the Board to consider and respond to the Audit Committee’s opinions, and mandates public disclosure and explanation when the Board diverges from those recommendations, signaling an emphasis on transparency and investor protection.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$32.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited plans to renew its asset management relationship with its connected subsidiary, China Life Asset Management Company, by entering into a new 2026–2028 Asset Management Agreement effective from 1 January 2026, ensuring continued discretionary investment and management of assets the insurer entrusts to AMC. Under the renewed arrangement, China Life will retain ownership of the assets while AMC operates the related accounts within company-set investment guidelines, and the fee structure will continue to comprise fixed management fees based on product type and assets under management plus variable fees tied to performance. As the deal constitutes a continuing connected transaction due to the shareholding structure between China Life, its controlling shareholder CLIC, and AMC, it falls under Hong Kong Listing Rules as a related-party arrangement, triggering reporting, announcement and annual review requirements but exempting it from independent shareholders’ approval because the transaction size remains below the specified threshold.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$32.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited plans to further increase its capital contribution to an existing real estate investment partnership with China Life Properties, its connected-party general partner, by RMB5 billion by 31 December 2025. The injection, funded from internal resources, will lift the partnership’s total committed capital to RMB18.901 billion, nearly all of which will come from China Life Insurance, and is classified as a connected transaction subject only to reporting and announcement requirements under Hong Kong listing rules. The partnership focuses on equity investments in core real estate projects in first-tier and strong second-tier Chinese cities and has already taken a 49.895% stake in the company developing Project INDIGO II, a large flagship commercial complex in Beijing slated to open between 2026 and 2028; the additional funds are intended to support the ongoing construction and development of this asset, reinforcing China Life’s strategy of using high-quality, income-generating property to back its long-term insurance liabilities.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$32.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited announced that its gross written premiums have exceeded RMB700 billion as of November 30, 2025. This significant achievement reflects the company’s robust performance and its strong market position in the Chinese insurance industry, indicating positive implications for its stakeholders and future growth prospects.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$32.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited has announced the convening of its Second Extraordinary General Meeting in December 2025, where shareholders will consider resolutions related to investment and management agreements with its subsidiaries. The meeting’s outcomes could impact the company’s strategic investment initiatives and operational collaborations, potentially influencing its market positioning and stakeholder relationships.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$32.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Co has announced the renewal of its continuing connected transactions with AMP, a subsidiary of its associate company, under a new Framework Agreement set to be finalized by December 31, 2025. This agreement will allow CLI to continue its daily transactions with AMP, including the subscription and redemption of fund products and private asset management. The transactions are subject to specific reporting and approval requirements under the Hong Kong and SSE Listing Rules, given the significant cumulative transaction amount between the involved parties.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$31.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited has announced plans to enter a new agreement with its subsidiary, CLI, for the management of insurance fund investments. This agreement, effective from January 2026, will see CLI continue to manage assets on behalf of China Life, with the transactions categorized as continuing connected transactions under Hong Kong’s listing rules. The agreement requires independent shareholder approval due to the significant percentage ratios involved, and an extraordinary general meeting will be convened for this purpose. The new agreement aims to ensure compliance with regulatory requirements and enhance investment management services, potentially impacting the company’s operational efficiency and stakeholder interests.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$31.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited has reported significant financial growth in its 2025 third quarter report. The company’s total assets increased by 9.6% to RMB 7,417,981 million, and equity attributable to equity holders rose by 22.8%. Operating income saw a substantial rise of 54.8% for the quarter, with a net profit before income tax increasing by 114.3%. These results indicate a strong financial performance, reflecting positively on the company’s market position and potentially benefiting stakeholders.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$31.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited has released its solvency quarterly report for the third quarter of 2025, prepared under the guidelines of the National Financial Regulatory Administration. This report reflects the company’s adherence to regulatory standards and provides insights into its financial health, which is crucial for maintaining stakeholder confidence and ensuring continued operations within the competitive insurance market in China.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$31.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited has announced a connected transaction involving a significant capital contribution to an Equity Investment Plan established by China Life Industries. The company plans to invest RMB2,000,000,000, while China Life Industries will contribute RMB10,000,000. This investment is structured under an entrustment contract with CLI, and aims to subscribe to a limited partnership interest in the Partnership. The transaction is categorized as a connected transaction under the Listing Rules, subject to reporting and announcement requirements, but exempt from independent shareholders’ approval.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$31.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited has announced the renewal of its framework agreement with AMP, allowing for continued daily transactions such as the subscription and redemption of fund products and private asset management. These transactions are classified as continuing connected transactions under Hong Kong’s Listing Rules, with specific exemptions from independent shareholder approval due to the applicable percentage ratios. This renewal is expected to maintain operational continuity and compliance with regulatory requirements, impacting the company’s financial dealings and strategic partnerships.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$31.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited announced that it will release its 2025 third quarter results on October 30, 2025, and will hold a results briefing on the same day to provide investors with a deeper understanding of its financial performance and business operations. The briefing will be conducted via webcast and text interaction, allowing investors to engage with the company’s senior management and ask questions, thereby enhancing transparency and communication with stakeholders.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$29.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited has announced an estimated significant increase in net profit for the first three quarters of 2025, with expectations of a 50% to 70% rise compared to the same period in 2024. This growth is attributed to strategic asset-liability management, investment in new productive forces, and a recovering stock market, enhancing the company’s investment returns and long-term stability.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$29.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.
China Life Insurance Company Limited has announced a board meeting scheduled for October 30, 2025, to consider and approve its unaudited financial results for the first three quarters of 2025. This meeting is significant as it will provide insights into the company’s financial health and performance, potentially impacting its market positioning and stakeholder confidence.
The most recent analyst rating on (HK:2628) stock is a Buy with a HK$29.00 price target. To see the full list of analyst forecasts on China Life Insurance Co stock, see the HK:2628 Stock Forecast page.