Company Encyclopedia
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name
NCI
01336.HK
New China Life Insurance Company Ltd. provides life insurance products and services to individuals and institutions in China. The company operates through three segments: Traditional insurance, Participating insurance, and Other Business. It provides life insurance, health insurance, and accident insurance products and services.
3.677 T
01336.HKMarket value -Rank by Market Cap -/-

Financial Score

05/12/2025 Update
C
Life and Health InsuranceIndustry
Industry Ranking7/12
Industry medianC
Industry averageC
Score Analysis
Peer Comparison
  • Criteria
    Rating
  • Profit ScoreA
    • ROE40.10%A
    • Profit Margin50.30%A
    • Gross Margin78.81%A
  • Growth ScoreA
    • Revenue YoY31.99%A
    • Net Profit YoY91.50%A
    • Total Assets YoY8.47%B
    • Net Assets YoY8.88%B
  • Cash ScoreB
    • Cash Flow Margin198.81%C
    • OCF YoY31.99%A
  • Operating ScoreE
    • Turnover0.04E
  • Debt ScoreE
    • Gearing Ratio94.52%E

Valuation analysis

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Institutional View & Shareholder

Analyst Ratings

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    News
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    Morning Trend | NCI rebounds with increased volume at low levels, has the valuation repair window truly opened?

    NCI (1336.HK) has recently rebounded with increased volume from a phase of low levels, and the daily MACD has completed a golden cross, indicating an initial formation of a short-term bullish pattern. The price has stabilized above the 5-day and 10-day moving averages, forming a short-term moving average support zone, while the K-line structure has gently moved upward, showing an enhancement in the bullish capital control intention. Behind this round of rebound, it is resonating with multiple factors, including favorable policies for the insurance industry, regulatory encouragement for a higher proportion of insurance funds entering the market, and the overall oversold bottom of the sector. NCI's valuation has long been at a historical low, with its current price-to-book ratio and price-to-earnings ratio significantly lower than those of leading peers in the insurance industry. In terms of performance, as the decline in new business value narrows in 2023, the annual net profit is expected to achieve positive growth, with a gradually clearer trend of fundamental repair. From the market perspective, short-term funds are actively speculating around the valuation repair logic of the sector, with some institutional funds gradually increasing their positions, indicating market expectations for a "Davis Double Play" scenario. However, it is also necessary to pay attention to the fact that the insurance industry as a whole is significantly affected by residents' risk preferences and capital market fluctuations. As long as the external macro sentiment remains cautious, the sector's substantial upward space still requires volume support. Technically, the 5-day and 10-day moving averages have formed low-level support. If the trading volume remains high and stable, the short-term bulls are expected to further challenge the pressure in the range of HKD 16.4-17. If the volume weakens or short-term funds take profits and exit, a price pullback to the HKD 15.5-16 range for consolidation cannot be ruled out. In terms of operations, it is recommended that investors pay attention to fundamental catalytic news of the industry or individual stocks and changes in sector fund flows

    Technical Forecast·
    SH
    601336
    +4.57%
    HK
    01336
    +4.95%
    Technical Forecast·
    SH
    601336
    +4.57%
    HK
    01336
    +4.95%

    Morning Trend | NCI fluctuates and rises, is the rotation window for the insurance sector coming?

    NCI (1336.HK) has recently shown a fluctuating upward trend, with a MACD golden cross signal appearing on the daily K-line, strengthening the short-term bullish structure. The stock price has repeatedly tested the year's high, with trading volume moderately increasing and capital activity rising. In the insurance industry, as long-term interest rates stabilize and the asset-liability structure continues to optimize, the overall valuation repair expectations have improved, revealing the allocation value of leading companies. NCI's fundamentals are solid, with new business growth and product structure optimization supporting performance elasticity, while the expansion of the bancassurance channel positively drives market share. Currently, the insurance sector is experiencing accelerated rotation, with signs of a rebound in sector risk appetite, although some heavyweight stocks still face certain adjustment pressure, and holding funds tend to realize profits. From a technical perspective, the 5-day and 10-day moving averages have recently formed good support; if accompanied by volume, the stock price is expected to continue to challenge previous highs; if market sentiment weakens, the stock price may retest the key support range below. Investors should pay attention to marginal changes in industry policies and sector capital flows, and it is recommended to adopt a strategy of gradually accumulating positions on dips to seize the sector rotation window. Overall, NCI's medium-term trend is positive, and after resolving risks through intraday fluctuations, it is expected to continue the upward main line

    Technical Forecast·
    SH
    601336
    +4.57%
    HK
    01336
    +4.95%
    Technical Forecast·
    SH
    601336
    +4.57%
    HK
    01336
    +4.95%

    Tracking the transformation of Xinhua dividend insurance: Premium growth slowed in October, and "New Year opening" pressure remains

    In the first 10 months of 2023, NCI achieved a premium of 181.973 billion yuan, a year-on-year increase of 17%. However, the premium growth rate in October experienced a negative growth of -7.21%. The company is undergoing a product transformation oriented towards dividend insurance, despite facing market skepticism and challenges. The management stated that a dedicated team has been established to promote the sales of dividend insurance and new products have been launched across multiple channels. The fluctuations in new single premiums during the transformation process reflect the market's adaptability issues regarding floating income products

    Wallstreetcn·
    SH
    601336
    +4.57%
    HK
    01336
    +4.95%
    Wallstreetcn·
    SH
    601336
    +4.57%
    HK
    01336
    +4.95%

    The key to determining the direction of insurance funds - What is FVOCI?

    Soochow Securities Co., Ltd. believes that with the full implementation of the new accounting standards in the insurance industry, there is no unified standard for how insurance funds choose the proportion of FVOCI: companies that require profit volatility may be more inclined to increase the proportion of FVOCI assets; companies that are confident in their investment capabilities and hope to enhance profitability through investments may be more inclined to increase the proportion of FVTPL assets

    Wallstreetcn·
    SH
    601555
    +1.69%
    Wallstreetcn·
    SH
    601555
    +1.69%

    "Active Stocks" Insurance stocks generally rise, China Life up 4%, A-shares rise for two consecutive days, Shanghai Composite Index rises above 4000 points

    The A-share market performed well, rising for two consecutive days, with the Shanghai Composite Index returning to 4,000 points, closing at 4,004 points, an increase of 0.9%. Insurance stocks generally rose, with Ping An up 2.5%, China Life up 4.3%, and NCI up 3.6%. The Hang Seng Index also rose by 1.6%, closing at 26,343 points

    etnet·
    SH
    601336
    +4.57%
    HK
    01336
    +4.95%
    SH
    601318
    +5.88%
    etnet·
    SH
    601336
    +4.57%
    HK
    01336
    +4.95%
    SH
    601318
    +5.88%
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