Goldman Sachs: "Neutral" rating for China Life Insurance (02628.HK) with a target price of 28.5 Hong Kong dollars.

Wisdom Finance APP learned that Goldman Sachs released a research report stating that it rates China Life Insurance (02628.HK) as neutral, with a 12-month target price of HK$28.5 based on return on total assets, corresponding to a 1.0x 2027 expected P/B ratio. Investor concerns are mainly focused on sales prospects, potential growth and interference in the bank-insurance channel, and investment and dividends. China Life Insurance reiterated its goal for 2026 to achieve double-digit growth in new business value and emphasized the competitive advantage of the bank-insurance channel. The strong performance of the stock market in the second quarter of 2026 has improved investment performance. For investors concerned about the base effect in the third quarter, China Life Insurance stated that attention should be paid to full-year profits, especially considering the lower base in the fourth quarter. Management will also work to reduce the fluctuation range of earnings per share.