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China Life Insurance projects net profit to rise YOY in Q3

China Life Insurance Co. Ltd. forecast its net profit attributable to equity holders to rise by between approximately 35.76 billion yuan and 39.74 billion yuan for the first three quarters compared to the prior-year period.

The company said such a jump would represent a year-over-year increase of 180% to 200%.

After deducting nonrecurring items, net profit attributable to equity holders is projected to go up in the range of about 30.07 billion yuan to 34.08 billion yuan.

As of Oct. 17, US$1 was equivalent to 7.07 Chinese yuan.