Streetbeat News

CILJF

China Life Insurance Co

https://www.e-chinalife.com/

Employees

103,262

Industry

Direct Life Insurance Carriers

Open

2.06

Mkt cap

130B

Volume

200

High

2.06

P/E Ratio

4.79

52-wk high

2.64

Low

1.88

Div yield

0.02

52-wk low

1.10

China Construction Bank (OTC:CICHY) and China Life Insurance (OTC:CILJF) released their Q3 earnings, providing insight into China's economy. CICHY reported a net profit of $12 billion, a 3% improvement YoY, beating analysts' expectations. However, its non-performing loans to assets ratio remained flat at 1.37%. CILJF reported a net profit of 16.2 billion RMB, a 48% reduction in earnings-per-share YoY. The company attributed the decline to a flagging stock market. Both companies' earnings indicate robust underlying conditions for China's economy but also highlight the need for stimulation to achieve market growth.

Portfolio Pulse from Daniel Harrison

October 26, 2023 | 3:33 pm

Three Hong Kong-based companies made significant announcements. Sino-Ocean Group Holding Limited (OTC:SIOLY) requested another week to make a bond interest payment, which could negatively impact its parent company, China Life Insurance Co Ltd (OTC:CILJF). Bank of China Limited (OTC:BACHF) issued a prospectus for a $1.6 billion medium term note, indicating a potentially stronger outlook. Swire Pacific Limited (OTC:SWRAY) issued a prospectus for a $5 billion medium term note offering, which could strengthen its position against struggling rivals.

Portfolio Pulse from Daniel Harrison

October 19, 2023 | 3:20 pm

Concerns are growing over hidden debt in China's property sector, with Ping An Insurance Group's real estate subsidiary, Ping An Real Estate Co. Ltd, in focus. The company's bond has been fluctuating due to investor concerns about its ability to repay. The company's sales have been declining and there are questions about its off-balance sheet debt. The China Securities Regulatory Commission found that the subsidiary had covered up a 200 million RMB overdue debt tranche. The situation could potentially spark a broader contagion in China's financial services sector.

Portfolio Pulse from Daniel Harrison

October 16, 2023 | 5:00 pm

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