China Life's Hong Kong Shares Hit Four-Month Low on Mixed Results

By Megan Cheah

Shares of China Life Insurance fell to a more than four-month low in Hong Kong after the insurer posted largely mixed annual results.

The stock fell as much as 9.3% to 24.82 Hong Kong dollars on Thursday, its largest daily loss since April last year. The company's Shanghai-listed shares shed as much as 6.0%.

The declines came after the Beijing-based insurer recorded a 44% rise in full-year net profit to about 154.08 billion yuan, equivalent to US$22.33 billion. New business value rose around 36% for 2025, it said Wednesday.

Analysts from DBS Group Research described the results as mixed.

Net profit came in about 6.0% below consensus estimates, with an implied net loss on investment for the fourth quarter likely the biggest drag, they said in a note. China Life's new business value for the year also suggested that growth moderated in the final quarter of 2025, they wrote.

The life insurer's contractual service margin balance was a bright spot, however, expanding 3.5% last year, DBS said.

Citi analysts were more upbeat about the overall results, noting that China Life's new business value growth was robust and its dividend payout rose strongly.

Both banks retained their buy ratings. Citi also maintained its HK$40.00 target price. DBS's HK$36.20 target price is under review, pending the company's earnings briefing.

Write to Megan Cheah at megan.cheah@wsj.com

(END) Dow Jones Newswires

March 26, 2026 02:00 ET (06:00 GMT)