China Life Insurance Co Ltd A (601628) fair value: what the stock is really worth
We calculate from audited financials what China Life Insurance Co Ltd A is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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A solid business, trading 24% below our fair value of ¥49.98.
As of Aug 24, 2026, the fair value of China Life Insurance Co Ltd A is ¥49.98 per share against a price of ¥38.06, so the fair value sits 31% above the price. A model estimate from reported figures, not an analyst target.
!Weak Growth (revenue 5y −4.8 %/yr)
✓Highly profitable · 42.3% net margin
✓Low debt · generates free cash flow
·2.25% dividend yield
✓Ranks above peers (11/15)
✓Wide moat 78/100
Evidence: HighRange ¥37.48 to ¥62.47
Fair value as of: Aug 24, 2026
From 6 valuation models · updated 16 days ago
Share price −1.3% over the past month.
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69 individual criteria per stock, every one traceable See the method →
What matters now
Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 24, 2026.
How to read this chart
60‑month range ¥23.25 – ¥51.03 · fair‑value band ¥37.48 – ¥62.47 · the ¥38.06 price screens below the ¥49.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 24, 2026.
China Life Insurance Co Ltd A (601628) currently trades at ¥38.06, while our model-based Fair Value estimate is ¥49.98, implying the stock looks roughly 23.9% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of ¥57.79 per share, and 2 of the 6 models we run sit above the ¥38.06 price. Bear case: the Asset-Based group reads lowest at ¥14.11, and 4 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, China Life Insurance Co Ltd A generated revenue of 342B CNY at a net margin of 42.3%. Revenue declined 15.2% year over year. It earns a return on equity of 25.5%. Net debt stands at 349B CNY. Fundamentals as of Aug 24, 2026
Scenario range: ¥37.48 (bear) to ¥62.47 (bull), the price of ¥38.06 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 27% below its 52-week high and 18% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −30% fair-value upside, at 31%, 601628 screens cheaper than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (¥2.93 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence
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Key figures & financial health
P/E ratio7.3as of Jul 15, 2026
P/S ratio1.85P/E × margin
EPS (TTM)¥5.12price ÷ EPS = P/E 7.3
Dividend yield2.2%payout 16.7%
Net margin25.3%FY2025
Return on equity25.5%TTM
More key figures
Profitability
Return on assets (EBIT)1.3%avg 5y
Operating margin38.1%TTM
Growth
Revenue (TTM)342B CNYTTM
Revenue growth (YoY)−15.2%3y avg −9.5%
EPS growth (YoY)−32.4%
Balance sheet & cash flow
Free cash flow653B CNYFY2025
Net debt349B CNYFY2025 · ≈ 0.5 yrs of FCF
Figures from reported company fundamentals · as of Aug 24, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality69/100
Of which business quality 57
· Market factors (momentum, volatility) 44
Profitability47
Margins and returns on capital today
Quality Growth68
Are margins and returns improving?
Cashflow100
Earnings quality: real cash, not paper profit
Fin. Strength1
Balance sheet, leverage, solvency risk
Investment59
Disciplined investing over empire-building
Low Volatility68
Calm price path (market factor)
Momentum39
Price trend over the last 3–12 months (market factor)
52W Momentum26
Distance to the 52-week high (market factor)
Net Issuance82
Buybacks instead of dilution
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
China Life Insurance Company Limited, together with its subsidiaries, operates as a life insurance company in the People's Republic of China. The company operates through Life Insurance Business, Health Insurance Business, Accident Insurance Business, and Other Businesses segments.
Full company description
China Life Insurance Company Limited, together with its subsidiaries, operates as a life insurance company in the People's Republic of China. The company operates through Life Insurance Business, Health Insurance Business, Accident Insurance Business, and Other Businesses segments. It offers life, annuity, health, and accident insurance products to individuals and groups. The company was founded in 1949 and is based in Beijing, the People's Republic of China. China Life Insurance Company Limited operates as a subsidiary of China Life Insurance (Group) Company.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
China Life Insurance Co Ltd A reported revenue of 609B CNY in FY2025 versus 795B CNY in FY2021, a compound −6.4%/yr. Reported net income was 154B CNY in FY2025, compounding +32.0%/yr from FY2021.
Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
609B CNY
Latest YoY
+18.9%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−9.5%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−4.8%
Avg. revenue growth/yr (24Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.0%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
≈ +27.1%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share+24.9%
Dividend yield2.2%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y 24.9% vs 10Y 16.9%, picking up
Operating margin (EBIT) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.7.0% (2020) → 29.8% (2025) · rising
Worst earnings drop67% (2012) · in CNY
⚠ Final year 2025 sits 201% above trend (one-off), rate approximate
Revenue−6.4%/yr
FY21795B CNY
FY22822B CNY
FY23396B CNY
FY24512B CNY
FY25609B CNY
Net income+32.0%/yr
FY2150.8B CNY
FY2232.1B CNY
FY2351.2B CNY
FY24107B CNY
FY25154B CNY
Character of growth · EPS growth decomposed (2014-2025)+15.4 % p.a.
Revenue per share+2.4 %
of which total revenue +2.4 % · buybacks/dilution +0.0 %
EBIT margin+10.9 %
Tax rate+1.6 %
Residual (interest, one-offs)+0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
This stockSector peers
VALUE75· sector 14
FUTURE0· sector 43
PAST100· sector 43
HEALTH97· sector 84
DIVIDEND45· sector 54
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
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Is China Life Insurance Co Ltd A (601628) overvalued or undervalued?
As of Aug 24, 2026, our model estimates a fair value of ¥49.98 versus a price of ¥38.06, about +31% upside (undervalued).
What is the fair value of 601628?
Our model-based fair value for China Life Insurance Co Ltd A is ¥49.98 (as of Aug 24, 2026), built from audited fundamentals. The current price: ¥38.06.
What is the quality score of 601628?
China Life Insurance Co Ltd A has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for China Life Insurance Co Ltd A (601628)?
Our model-based price target is the fair value of ¥49.98 (as of Aug 24, 2026) from 6 valuation models. Cautious scenario ¥37.48, optimistic scenario ¥62.47. It is a calculation from audited fundamentals, not an analyst target.
What is the China Life Insurance Co Ltd A stock forecast for 2026?
Our models put fair value at ¥49.98, about +31% upside versus a price of ¥38.06 (undervalued). Cautious scenario ¥37.48, optimistic scenario ¥62.47. The calculation is refreshed regularly with new filings.
What is the revenue of China Life Insurance Co Ltd A (601628)?
China Life Insurance Co Ltd A reported trailing-twelve-month revenue of about 342B CNY (latest available figure, as of Aug 24, 2026).
What is the net profit margin of 601628?
The net profit margin of China Life Insurance Co Ltd A is about 42.3%, meaning it keeps roughly 42.3% of revenue as net income. Based on the latest reported figures.
Does China Life Insurance Co Ltd A pay a dividend?
China Life Insurance Co Ltd A currently shows a dividend yield of about 2.25% relative to its recent price (as of Aug 24, 2026).
What is the intrinsic value of China Life Insurance Co Ltd A (601628)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Life Insurance Co Ltd A it is ¥49.98 per share (as of Aug 24, 2026), against a price of ¥38.06. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is China Life Insurance Co Ltd A stock overvalued or undervalued in 2026?
As of Aug 24, 2026, 601628 trades below its calculated fair value: price ¥38.06, fair value ¥49.98, a gap of about +31% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 601628?
No. The price is what the market pays today (¥38.06); the fair value is what the company's own numbers justify (¥49.98). For China Life Insurance Co Ltd A the two are ¥11.92 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Life Insurance Co Ltd A worth?
The market values China Life Insurance Co Ltd A at about 1.1T CNY (market capitalisation, as of Aug 24, 2026). Per share that is ¥38.06; our models calculate a fair value of ¥49.98 per share.
What do the bullish and bearish scenarios say about 601628?
Our models span a range for China Life Insurance Co Ltd A: cautious scenario ¥37.48, base ¥49.98, optimistic ¥62.47 per share (as of Aug 24, 2026, price ¥38.06). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 601628?
China Life Insurance Co Ltd A trades at a price-to-earnings ratio of 7.3 (as of Aug 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥49.98 is built from several models across several years. Other multiples: PEG 0.7, P/B 1.8, P/S 3.1, EV/EBITDA 6.0.
What is the PEG ratio of 601628?
The PEG ratio of China Life Insurance Co Ltd A is 0.68 (P/E divided by earnings growth, as of Aug 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of China Life Insurance Co Ltd A (601628)?
Balance-sheet figures for China Life Insurance Co Ltd A (as of Aug 24, 2026): return on equity 25.5%, debt of 0.06 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is 601628 from its 52-week high?
China Life Insurance Co Ltd A trades at ¥38.06, about 27% below its 52-week high of ¥51.92 and 18% above the low of ¥32.32 (as of Aug 24, 2026). Distance from the high says nothing about value: that is what the fair value of ¥49.98 is for.
Which stocks are comparable to China Life Insurance Co Ltd A?
From the same area (Financial Services) we also value Ping An Insurance (Group) Company, AIA Group, Manulife Financial Corporation, Aflac Incorporated, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is China Life Insurance Co Ltd A stock attractive at the current price?
The data as of Aug 24, 2026: price ¥38.06, calculated fair value ¥49.98 (+31%), Quality Score 69/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 601628 calculated?
We run China Life Insurance Co Ltd A through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥49.98, with the spread shown as a cautious and an optimistic scenario.
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