Ng Lai-yin: China Life's sales capability improves, buy on dips with target price of $30

Ng Lai-yin said China Life (2628) posted strong interim results and investors could buy on dips, with a target price of $30. China Life's half-year revenue rose 81.5% year on year, net profit grew 2.29 times, and new business value surged 33.7% year on year, outperforming peers, benefiting from improved sales capability and optimised product mix.