Daiwa: Maintaining a "buy" rating for China Life (02628), expected to continue outperforming competitors in new business value.

Intelligent Finance APP learned that Morgan Stanley released a research report stating that China Life (02628) is expected to achieve a net profit of 128.9 billion to 137.1 billion RMB in the first half of the year, a year-on-year increase of 215% to 235%, with an annualized return on equity of about 40%, outperforming its peers. This means that the net profit in the second quarter is expected to reach 109.4 billion to 117.6 billion RMB, a year-on-year increase of about 800% to 900%. Morgan Stanley maintains its "overweight" rating on China Life's H shares, with a target price of 38.9 Hong Kong dollars, believing that the valuation of H shares is still attractive and the fundamentals are improving.