CHINA LIFE (02628) surged over 3%, trading at HK$25.5 by press time with a turnover of HK$568 million. The company recently released its Q3 2025 results, reporting a standout performance. CMB International highlighted that CHINA LIFE's Q3 net profit nearly doubled year-on-year to RMB126 billion, up 92% from the high base of the previous year. This brought the nine-month net profit to RMB167.8 billion, a 61% YoY increase. The insurer's profit growth outpaced peers, driven by dual growth in insurance service performance and investment returns.

The bank further noted that CHINA LIFE's new business value (NBV) under comparable terms grew 41.8% in the first three quarters, a sharp acceleration from H1's 20.3% growth. Q3 NBV likely more than doubled YoY, supported by a 53% rise in first-year premium income and improved margin structure amid lower policy rates and product mix optimization. Looking ahead to Q4, the low base effect from last year's steep interest rate decline—which weighed on insurance service earnings—may further boost profit growth momentum.