New China Life Insurance Co Ltd (601336) Fair Value & Analysis
Financial Services · CN · Market cap 196B CNY (≈ $29.2B) · ISIN CNE1000019Y0
What is New China Life Insurance Co Ltd really worth?
A solid business, trading 38% below our fair value of ¥99.92.
Strengths
Risks
For context
Fair value as of: Aug 22, 2026
From 6 valuation models · updated 14 days ago
Share price −1.7% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price is below even our cautious bear case (¥74.94). The market is more pessimistic than our downside scenario.
- Solid quality (66/100) 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 22, 2026.
How to read this chart
60‑month range ¥22.81 – ¥85.01 · fair‑value band ¥74.94 – ¥124.90 · the ¥62.25 price screens below the ¥99.92 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 22, 2026.
Analysis
New China Life Insurance Co Ltd (601336) currently trades at ¥62.25, while our model-based Fair Value estimate is ¥99.92, implying the stock looks roughly 37.7% undervalued today. The Quality Score stands at 66/100 (solid quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of ¥111.55 per share, and 3 of the 6 models we run sit above the ¥62.25 price. Bear case: the Asset-Based group reads lowest at ¥23.95, and 3 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, New China Life Insurance Co Ltd generated revenue of 75.1B CNY at a net margin of 49.1%. Revenue grew 3.2% year over year. It earns a return on equity of 36.3%. Net debt stands at 138B CNY. Fundamentals as of Aug 22, 2026
Our scenario range runs from ¥74.94 (bear case) to ¥124.90 (bull case); at ¥62.25, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation 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 −29% fair-value upside, at 61%, 601336 screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly ¥6.15 per share, which is 6.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Economic Profit (¥111.55) versus Asset-Based (¥23.95). Highest evidence: DDM Multi-Stage (62).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 22, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 60 · Market factors (momentum, volatility) 41
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
New China Life Insurance Company Ltd. provides life insurance products and services to individuals and institutions in China. The company operates through three segments: Traditional insurance, Participating insurance, and Other Business. It provides life insurance, health insurance, and accident insurance products and services.
Full company description
New China Life Insurance Company Ltd. provides life insurance products and services to individuals and institutions in China. The company operates through three segments: Traditional insurance, Participating insurance, and Other Business. It provides life insurance, health insurance, and accident insurance products and services. The company also offers asset management, investment management, training, electronic commerce, and medical services; elderly care services and enterprise management service; property management; and invests in, develops, leases, and manages real estate properties. The company was incorporated in 1996 and is headquartered in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
New China Life Insurance Co Ltd reported revenue of 134B CNY in FY2025 versus 222B CNY in FY2021, a compound −11.8%/yr. Reported net income was 36.3B CNY in FY2025, compounding +24.8%/yr from FY2021.
of which total revenue −3.2 % · buybacks/dilution +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).
Watch 601336: get an alert when its fair value changes →
Peer Group
Insurance - Life · 96 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Insurance - Life median · lower = cheaper
Strength profile in five axes (Snowflake)
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Insurance - Life stocks, each showing price versus our Fair Value estimate (as of Aug 22, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Life Insurance Company 601628 | ¥37.03 | ¥49.98 | +35% |
| Ping An Insurance (Group) Company 601318 | ¥55.82 | ¥84.72 | +52% |
| AIA Group 1299 | HK$73.00 | HK$33.57 | −54% |
| Manulife Financial Corporation MFC | C$59.80 | C$38.80 | −35% |
| Aflac Incorporated AFL | $116.52 | $74.34 | −36% |
| Great-West Lifeco Inc GWO | C$90.25 | C$39.53 | −56% |
| MetLife, Inc MET | $96.51 | $68.27 | −29% |
| Life Insurance Corporation LICI | ₹412.15 | ₹392.93 | −5% |
| China Pacific Insurance (Group) Co 601601 | ¥30.20 | ¥57.51 | +90% |
| Samsung Life Insurance Co 032830 | 301,000 KRW | 191,293 KRW | −36% |
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