SG#CLIFERC2711E

China Ping An Insurance Buys 1.266 Million Shares of China Life Insurance

JPMorgan Releases Q1 Earnings Analysis for China Life

Fujian Xinrui Relay Sci-Tech Equity Investment Partnership Established with an Investment of About 4 Billion Yuan

CHINA LIFE released FY2026 Q1 earnings on April 29 After-Market (BJT), actual revenue HKD 61.86 B, actual EPS HKD 0

LaSalle Investment Management and National Life Capital Collaborate on Shanghai Long-Term Rental Apartment Acquisition

China Life Insurance Reports 75.5% Increase in New Business Value in Q1

China Life Sees Growth in Sales Force Quality in Q1

China Life's Q1 2026 Net Profit Falls 32.3% to 19.505 Billion Yuan

Ping An Asset Management Co., Ltd.增持 China Life Insurance

Significant Growth in Dividend Insurance Sales via Banking Channels

Insurance industry focuses on technological innovation and green transformation in Q1 2026

HKEX announces the addition of weekly contracts for 17 option classes, including China Life

Shareholding disclosure reveals Ping An Insurance increased its stake in China Life

China Insurance Industry Association Announces Q1 2026 Data, Premium Income Up 6.2% YoY

State leaders visit Chiome's AI drug research platform

China Ping An Life Insurance Increases Stake in China Life to 11.07%

Bank of Nanjing's Q1 report reveals China Life increased its stake to 2.86%

China Life Insurance Publishes ESG Report with AA Rating

CHINA LIFE to Release FY2026 Q1 Earnings on April 29 After-Market (BJT)

China Life Participates in Establishing an 8.5 Billion RMB Chongqing Pension Industry Private Equity Fund

CH GOLD CLASSIC

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Hong Kong stocks declined ahead of the May 1 holiday, with the HSI closing down 335 points at 25,776. China Life rose 4.5% after quarterly results, while SMIC gained 7.8%. Brent oil futures reached $120.92 per barrel. The US Federal Reserve maintained interest rates, and the DJIA fell 0.6%. Southbound trading will be suspended during the holiday. YOFC shares plummeted 13.8% after disappointing Q1 results, despite significant year-on-year profit growth. Overall, the HSI saw a weekly decline of 0.8%, but a monthly gain of 4%.

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CHINA LIFE

China Life

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Hong Kong Stocks Weaken Ahead of Long Holiday; CHINA LIFE  Up 4%; SMIC Sought After

NCIshares rose 2.8% at midday, closing at HKD52. BofAS reported a net profit of RMB6.5 billion for 1Q26, up 11% YoY, but noted one-off gains. NCI's investment yield was 2.1%, lower than CHINA LIFE's 2.2%. M Stanley and UBS also reported positive earnings, with M Stanley assigning an Underweight rating and a TP of HKD43, while UBS maintained a Neutral rating with a TP of HKD48.5. Overall, NCI's performance exceeded market expectations despite challenges in the equity market.

Bank of America

Morgan Stanley

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

NCI  Up 2.8% at Midday; Brokers Say 1Q26 Earnings Beat Expectations

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The HSI fell 322 points to 25,789 at midday, influenced by a 280-point drop in the DJIA. CHINA LIFE rose nearly 5% despite a 32.3% drop in 1Q net profit, while SMIC surged over 6%. Other major stocks like CCB and BANKCOMM reported profit increases but saw share declines. Tech stocks faced mixed results, with TENCENT down 3% and NTES up 2.2%. International oil prices rose, benefiting PETROCHINA, while auto stocks like BYD and NIO experienced significant drops. HSBC is involved in a USD40 billion loan arranged by SoftBank, with its shares down 0.7%.

CSOP HSI ETF

China Southern Hang Seng ETF

ISHARESHSI

FI2 CSOP HSI

HSI Down 322 pts at Half Day; CHINA LIFE  Up Nearly 5%; SMIC Surges Over 6%

CLSA has raised its target price for CHINA LIFEfrom HKD33 to HKD37 following the company's 1Q26 results, which showed a 76% YoY increase in new business value, despite a 32% YoY decline in net profit. The broker has adjusted its forecasts for 2026 EPS and DPS downwards but increased earnings and net asset value estimates for 2027 and 2028. CLSA maintains an Outperform rating for CHINA LIFE, its top pick among Chinese insurers, while lowering its A-share target price from RMB45 to RMB39 with a Hold rating.

CLSA Raises CHINA LIFE  TP to HKD37; 1Q26 Net Profit Largely In Line

JPM's report highlights that CHINA LIFE's 1Q new business value surged 75.5% YoY, significantly exceeding expectations. Despite a 32% YoY decline in net profit to RMB19.5 billion, the bank maintains an Overweight rating, citing strong sales momentum and a robust solvency ratio of 157%. The target price is set at HKD40, based on an 8x projected 2026 P/E ratio, indicating a positive outlook for the stock.

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

JPM: CHINA LIFE  1Q New Business Value Surges 75.5% YoY Far Above Expectations; Reiterates Overweight as Top Pick

JPMorgan released a report on CHINA LIFE, stating that despite a 32% YoY decline in net profit for 1Q26, the strong new business sales in life insurance offset this decline. The broker maintains an Overweight rating with a target price of HKD40, believing the profit drop won't impact share prices in the near term. The company has adjusted its dividend policy, reducing dividend risk despite earnings forecast revisions. CHINA LIFE's new business value surged 75.5% YoY, indicating market share growth and improved distribution capabilities.

JPM: CHINA LIFE  Profit Slump Not a Near-term Share Price Risk, Reiterates Overweight with TP HKD40

CHINA LIFEshares rose over 5% following the release of its first-quarter results, despite a 32.3% year-on-year decline in net profit to RMB19.505 billion. The company reported a 15.3% drop in operating revenue but a 1.1% increase in total premium income. Notably, new business value surged by 75.5%. Analysts from JPM and M Stanley praised the strong growth in new business value, maintaining Overweight ratings with target prices of HKD40 and HKD37.9, respectively.

CHINA LIFE  Jumps Over 5% Post-Results; M Stanley and JPM Cite Strong 1Q New Business Value Growth

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The HSI opened down 103 points at 26,008, following a 0.6% drop in the DJIA. CHINA LIFE shares rose 4% despite a 32.3% YoY drop in net profit for 1Q26. AIA also gained nearly 2% after reporting better-than-expected new business value. Other major stocks like HSBC and BOC Hong Kong opened down, while tech stocks generally fell. International oil prices rose, benefiting CNOOC, which opened up 0.7%. Overall, the market showed mixed performance with several companies reporting varied financial results.

HSI Opens Down 103 pts; CHINA LIFE  Up 4%, AIA Gains Nearly 2%

CHINA LIFEreported a 32.3% year-on-year decline in net profit for Q1 2026, totaling RMB19.505 billion. Operating revenue fell 15.3% to RMB93.291 billion, while total premium income rose 1.1% to RMB358.478 billion. The Value of New Business increased by 75.5%. Total investment income was RMB35.536 billion, with a yield of 2.21%. As of March 31, total assets reached RMB7.715 trillion, up 1.6% from last year, and net assets were RMB611.987 billion, up 0.6%.

CHINA LIFE  1Q26 Net Profit Falls 32.3% YoY to RMB19.505 Billion

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A study warns that medical claims paid by Hong Kong insurers could double in a decade, raising sustainability concerns. Claims rose over 60% from 2019 to 2023, driven by inpatient bills, particularly for day procedures. Total reimbursements reached HK$17.73 billion in 2023. Industry leaders urge prudent claims filing to avoid premium increases, while suggesting a review of the Voluntary Health Insurance Scheme's regulatory framework to address rising costs. The ageing population complicates efforts to reverse the trend, prompting calls for stakeholder discussions on managing growth in medical claims.

SCMP

PING AN

Hong Kong insurers’ health at risk as medical claims could double in decade

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CICC forecasts a 19% YoY decline in net profit for Chinese insurers in 1Q26 due to equity market volatility, while life insurance new business value (NBV) is expected to rise 13% YoY. The report highlights individual company projections, with China Life and Ping An Insurance showing strong growth in bancassurance. Combined ratios for major property insurers are improving, but premium growth faces short-term challenges. Overall, operating profit remains resilient, benefiting from recent stabilization in liabilities.

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CICC Expects CN Insurers' 1Q26 Net Profit to Fall 19% YoY on Equity Market Impact; New Business Value Trend Remains Solid

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According to recent research from within the insurance industry, personal insurance companies have successively begun to implement suitability management for insurance products and sales personnel. In particular, as a preliminary procedure for suitability management and a firewall against product mismatch, the action of "labeling" insurance products by classification has been widely adopted across the industry—insurance products or specific information disclosures have updated their product classification and grading information. After classifying and grading insurance products, the industry is expected to further implement "seller responsibility" and promote the exploration and implementation of graded sales personnel. (China Securities Network)

36Kr

Investigation on Insurance Product Mismatch Firewall: Product Hierarchy Generally Implemented, Personnel Hierarchy Ready to Launch

Hong Kong stocks continued their upward trend on July 28, with the cryptocurrency, innovative drug, gaming, and insurance sectors performing well. Hong Kong's &#34;Stablecoin Ordinance&#34; will officially take effect on August 1, marking the countdown to stablecoin issuance; the innovative drug sector was boosted by Hengrui Pharmaceuticals securing a $12 billion order; insurance stocks extended their gains as industry anti-internal competition and interest rate cuts improved profit prospects; gaming stocks benefited from Macau's July gaming revenue exceeding expectations and Thailand's withdrawal of the casino bill.

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Hot Trades in Hong Kong Stocks (7.28)｜Cryptocurrency, Innovative Drugs, Insurance, and Gaming Sectors Shine, Hengrui Pharmaceuticals Soars 15% at Midday

On July 11, the three major stock indices in Hong Kong rose together. In terms of sectors, technology stocks rose collectively, and securities and brokerage stocks mostly increased.

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The Hang Seng Index is approaching its highest level in nearly 3 years, with Chinese brokerage, insurance, and stablecoin concept stocks remaining hot!

SG#CLIFERC2711E(53324.HK)

Hong Kong Stocks Weaken Ahead of Long Holiday; CHINA LIFE Up 4%; SMIC Sought After

NCI Up 2.8% at Midday; Brokers Say 1Q26 Earnings Beat Expectations

HSI Down 322 pts at Half Day; CHINA LIFE Up Nearly 5%; SMIC Surges Over 6%

CLSA Raises CHINA LIFE TP to HKD37; 1Q26 Net Profit Largely In Line

JPM: CHINA LIFE 1Q New Business Value Surges 75.5% YoY Far Above Expectations; Reiterates Overweight as Top Pick