China Life 2628; ADR (LFC)

Re: China Life 2628; ADR (LFC)

Postby winston » Sat Mar 25, 2017 9:08 am

not vested

China Life reports 2016 net profit tumbles 44.9pc, weighed by drop in investment income

China Life’s overseas investments amounted to US$8.6 billion


The insurer would increase its alternative investments this year, such as commercial properties and financials.


The Beijing-based insurer reported 2016 net profit fell 44.9 per cent on year to 19.13 billion yuan (US$2.78 billion), mainly due to a drop in investment income related to downtrending interest rates and volatile capital markets, as well as “the update on the discount rate assumption for reserves of traditional insurance contracts”


China Life together with the other six big mainland insurers have seen their market share fall to 60 per cent from 80 per cent during the last three years, amid aggressive competition from smaller firms


Source: SCMP

http://www.scmp.com/business/global-eco ... pc-weighed
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China Life 2628; ADR (LFC)

Postby winston » Tue Apr 25, 2017 11:38 am

not vested

<Research Report>BofAML Downgrades China Life to Neutral; Expects Injection in China Guangfa Bank Unfavorable To Share Price

In its report, Bank of America Merrill downgraded CHINA LIFE (02628.HK) from Buy to Neutral with target price slightly revised up from $26.46 to $26.5.

The broker said that China Life will inject capital in its 44%-owned China Guangfa Bank, becoming an uncertainty for its stock price.

However, the valuation of China Life's H shares remains inexpensive. Coupled with the industry fundamentals still improving, Bank of America Merrill Lynch believed that China Life's earnings can bottom out in the first quarter.

China Life's A shares were maintained at Underperform given its valuation still too high.

Under the framework of C-ROSS 2.0, China Life's solvency margin can be much lower than PING AN (02318.HK).

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China Life 2628; ADR (LFC)

Postby winston » Fri Apr 28, 2017 7:35 am

Insurer feeling secure

by Dominique Nguy

China Life Insurance (2628) posted a 17.1-percent increase in net profit to 6.15 billion yuan (HK$6.94 billion) in the first quarter compared to the corresponding period last year, with earnings per share 21 fen.

Also compared to 12 months previously, operating income was up 23.5 percent to 271.7 billion yuan and revenue from insurance businesses up 22.1 percent to 246.2 billion yuan.

Investment income during the first quarter was 28.2 billion yuan, an increase of 12.4 percent.

And first-year regular premiums rose 17.4 percent to 60.3 billion yuan.

China Life sees ever-increasing prospects for expansion, noting that rapid growth is being chalked up through a greater range of products being shaped and offered to meet demand.

Source: The Standard
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China Life 2628; ADR (LFC)

Postby winston » Fri Apr 28, 2017 1:59 pm

not vested

<Research Report>C Suisse Lifts CHINA LIFE (02628.HK) Target to $28; Rated Outperform

In its report, Credit Suisse said that CHINA LIFE (02628.HK)'s 1Q profit after tax rose 17% year on year to RMB6.15 billion, accounting for 24% of the annual profit forecast.

Taking into account some of the delayed expenditure, the research house expected the increase in profit after tax narrowed to single digit.

The research house raised the EPS forecast by nearly 20% with the target price raised from HK$27 to HK$28 and rating maintained at Outperform.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China Life 2628; ADR (LFC)

Postby winston » Wed Oct 30, 2019 7:01 am

not vested

China Life profit soars 190pc on investment returns and tax relief

by Avery Chen

New business value grew 20 percent. SING TAO

China Life Insurance (2628) yesterday posted a 190.4 percent jump in net profit to 57.7 billion yuan (HK$64.03 billion) for the first nine months this year, thanks to higher investment income and China's new pre-tax deduction policy for insurers.

The country's second-biggest insurance firm by market value said its net profit after deducting non-recurring items surged 162.4 percent to 52.61 billion yuan for the first three quarters. Earnings per share were 2.03 yuan.

New-business value grew by 20.4 percent year-on-year outpacing Ping An Insurance (2318), China's biggest insurer, which reported a 4.5 percent rise in new business value for the same period.

Revenues from insurance business grew 6.1 percent year-on-year to 497.05 billion yuan.

The Ministry of Finance amended the pre-tax deduction policy in late May which brings down underwriting and policy acquisition costs of insurers. Benefiting from that, China Life's income tax was reduced by 5.15 billion yuan for 2018.

The company's investment assets went up 10.7 percent to 3.44 trillion yuan from the end of 2018. The net investment income reached 113.9 billion yuan with a yield of 4.83 percent, rising by 21 basis points from a year ago.

The number of sales people increased by 180,000 to 1.95 million from the end of 2018. Exclusive individual agents grew 15.6 percent to 1.66 million.

Source: The Standard

http://www.thestandard.com.hk/section-n ... 1030&sid=2
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China Life 2628; ADR (LFC)

Postby winston » Fri Mar 13, 2020 7:33 am

China Life sees 20pc premium growth

by Stella Zhai

China Life Insurance (2628) announced that its accumulated insurance premium income during the first two months this year grew 20.5 percent from a year ago to 228 billion yuan (HK$252.8 billion).

In February, insurance premiums expanded by 9.9 percent year-on-year to 34.5 million yuan.

Vice President Zhao Peng said the growth in insurance premiums was based on the increase in January, and that the company has enhanced online sales since the coronavirus outbreak, which partly offset the impact in February, mainland media outlet ThePaper reported.

Zhao predicts the coronavirus will affected the company's new business value and the number of sales agents in the near term, but business is expected to recover quickly after the epidemic is brought under control, especially the health insurance plans.

Source: The Standard
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China Life 2628; ADR (LFC)

Postby winston » Thu Apr 23, 2020 8:18 pm

not vested

China Life sees quarterly profit drop

China Life Insurance Company (2628) saw its net profit slump by 34.4 percent from a year ago to 17.09 billion yuan (HK$18.7 billion) in the first quarter this year and has made Covid-19 related claims payment of around 23.2 million.

New business valued recorded by the insurer grew 8.3 percent year-on-year, while the surrender rate dropped by 0.34 percentage point from a year ago to 0.28 percent.

First-quarter operating income for the first quarter this year rose 8.2 percent from a year ago to 337.8 billion yuan, with premium revenue rising 13 percent year-on-year to 307.8 billion yuan.

The company voluntarily offered complimentary insurance protection against Covid-19 to medical workers and volunteers, covering over 2.5 million people, said the company. The claim payment related to the coronavirus epidemic included 10.79 million paid to the frontline medical workers.

The company recorded a gross investment income of 45.45 billion yuan and the gross investment yield dropped by 158 basis points from a year ago to 5.13 percent during the period, due to a decline in the A-share market and a significant downward trend in the interest rates.

Source: The Standard

https://www.thestandard.com.hk/breaking ... rofit-drop
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China Life 2628; ADR (LFC)

Postby winston » Fri Apr 24, 2020 9:57 am

not vested

China Life Insurance
Better-than-expected 1Q20 NBV


1Q20 NBV growth of 8.3% yoy was notably better than we expected, and higher than our FY20F NBV growth forecast of 2.7%.

China Life's total sales force at end-1Q20 exceeded 2m across all distribution channels, up at least 8% qoq. We estimate agent number rose over 9% qoq.

Reiterate Add. TP unchanged at HK$19.80.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 8BAC0048C8
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China Life 2628; ADR (LFC)

Postby winston » Fri Jul 10, 2020 1:48 pm

Citi TP: HK$27.50
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

Re: China Life 2628; ADR (LFC)

Postby winston » Fri Jul 10, 2020 1:50 pm

Jun 9, 2020

<Research Report>CICC: CN Bond Rate Rebound May Revive CN Insurers' Valuation; Bullish on China Life, NCI

CICC, in its report, retained upbeat view on Chinese insurers with low valuation and high dividend yield.

It recommended CHINA LIFE (02628.HK) and NCI (01336.HK) with ratings of Outperform and target prices at $23 and $38.

The broker also stayed bullish about the growth prospect of AIA (01299.HK), which offered an entry point at share adjustment after short-term challenges this year. AIA was rated Outperform with target price of $95.

In CICC view, the game changer of Chinese insurers' valuation was tweaked by the sturdy rebound of Chinese bond rates.

Market was concerned about the consistent pressure of long-term low rate environment on Chinese insurers' valuation. Yet, the broker found such worry was overdone since the real negative impact on Chinese insurers is only the rapid downturn of long-term rate which lingers for 5-10 years, of which case the likelihood is extremely low.

With Chines economic activities resuming to normal in 2Q20, the consistently long-term low rate will see turnaround, which will revive the gamer changer of Chinese insurers' valuation.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 118528
Joined: Wed May 07, 2008 9:28 am

PreviousNext

Return to C

Who is online

Users browsing this forum: No registered users and 9 guests

cron