Asia Pacific Equity Research 13 October 2025 This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. New China Life Insurance - H Overweight Positive profit alert for 9M25 NP: Rmb29.9-34.1B vs. FY25 NP consensus of Rmb25.5B New China Life has just released a positiv ...