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Stock Movement | China Life Insurance drops over 6%, turns to loss last quarter
China Life Insurance (02628) reported a loss of 13.7 billion RMB in the last quarter, with the stock price falling as much as 7.2%, reaching a low of 25.4 yuan.
As of 10:50 a.m., the stock was at 25.46 yuan, down 6.9%, with a turnover of 1.285 billion yuan.
China Life announced that for the year ending December 31, the attributable profit to shareholders was 154.078 billion RMB, a 44.09% increase year-on-year. Earnings per share were 5.45 yuan, with a final dividend of 0.618 yuan.
During the period, revenue reached 616.065 billion RMB, up 16.54% year-on-year. New business value for the year was 45.752 billion RMB, a 35.7% increase, the highest growth rate since 2017; embedded value was 1.47 trillion RMB, maintaining the industry’s top position.
In the fourth quarter alone, due to a significant increase in fair value losses on trading financial assets, the company recorded a net loss of 13.726 billion RMB, while in the same period of 2024, it recorded a slight profit of 2.412 billion RMB.