CICC: Profit sharp decline of China Life (02628.HK) does not constitute short-term stock price risk.

According to the Wise Wealth APP, a report released by Morgan Stanley stated that China Life Insurance (02628.HK) strong first quarter life insurance new business sales largely offset the significant profit decline caused by the volatility of the Chinese stock market. It reiterated a "buy" rating with a target price of HKD 40.