China Life Posted 3Q Earnings Alert With 95% Growth in Net Profit
No-moat China Life posted third-quarter earnings alerts indicating that net profit for the first three quarters surged over 95% from the year-ago period, versus 17.3% for the first half. This implied that third-quarter net profits reached CNY 14.138 billion, an increase from CNY 3.133 billion in the year-ago period. The profit surge came in a bit above our expectation, though China Life’s financial performance has historically been volatile due to its investment income. However, we retain our fa...
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