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China Life Insurance: Announcement – Resolutions Passed at the First Extraordinary General Meeting 2022

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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

中國人壽保險股份有限公司

CHINA LIFE INSURANCE COMPANY LIMITED

(A joint stock limited company incorporated in the People’s Republic of China with limited liability)

(Stock Code: 2628)

ANNOUNCEMENT

RESOLUTIONS PAST AT

THE FIRST EXTRAORDINARY GENERAL MEETING 2022

The board of directors (the “board“) of China Life Insurance Company Limited (the “Company“) announces the poll results in respect of the resolutions proposed at the first extraordinary general meeting 2022 (the “EGM” gold “Meeting“) held on Wednesday, 27 April 2022. All resolutions were duly passed.

VOTING RESULTS AT THE EGM

The EGM was held on Wednesday, 27 April 2022 at 9:30 am at Multi-function Hall, 2/F, Block A, China Life Plaza, 16 Financial Street, Xicheng District, Beijing, China.

As at the date of the EGM, shareholders holding a total of 28,264,705,000 shares of the Company, representing 100% of the total issued shares of the Company, were entitled to attend and vote on the resolutions proposed at the EGM. There were no restrictions on any shareholder casting votes on any of the proposed resolutions at the EGM.

Shareholders and authorized proxies holding a total of 21,578,708,017 voting shares of the Company, representing 76.345067% of the total voting shares of the Company, attended the EGM. The voting at the Meeting was conducted by way of onsite voting and online voting, and was in compliance with the relevant provisions of laws and regulations including the Company Law of the People’s Republic of China ( 中華 人民共和國公司法》 ), the Rules for Shareholders’ Meetings of Listed Companies ( 上市公司股東大會規則》 ), the Self-regulatory Guidelines for Listed Companies on the Shanghai Stock Exchange No. 1 – Regulation of Operations ( 上海證券交易所上市公司自律監管指引第 1 規範運作》 ) and the Articles of Association of the Company.

Total number of shareholders and authorized proxies attending the Meeting

57

including:number of holders of A Shares

56

number of holders of H Shares

1

Total number of shares with voting rights

21,578,708,017

including:total number of shares held by holders of A Shares

19,365,632,806

total number of shares held by holders of H Shares

2,213,075,211

Percentage to the total number of shares with voting rights

76.345067%

including:percentage of shares held by holders of A Shares

68.515248%

percentage of shares held by holders of H Shares

7.829819%

Note : The shareholders attending the Meeting include the shareholders who attended the onsite meeting and the holders of A

Shares who attended the Meeting by way of online voting.

Executive Director Mr. Su Hengxuan was elected by the majority of the Board members to chair the Meeting. Six out of the nine Directors of the Company attended the Meeting, while Executive Director Ms.

Huang Xiumei, and Non-executive Directors Mr. Yuan Changqing and Mr. Wang Junhui were unable to attend due to the epidemic prevention and control. One out of the five Supervisors of the Company attended the Meeting, while Chairman of the Board of Supervisors Mr. Jia Yuzeng, and Supervisors Mr. Niu Kailong, Mr. Cao Qingyang and Mr. Lai Jun were unable to attend due to the epidemic prevention and control.

Certain members of the Senior Management and the Board Secretary also attended the Meeting.

The poll results in respect of the resolutions proposed at the EGM are as follows:

Resolutions

Type of Shareholders

For

Against

Abstain

Attending and Voting

No. of Shares Voted

Percentage %

No. of Shares Voted

Percentage %

No. of Shares Voted

Percentage %

No. of Shares

As ordinary resolutions

1

To consider and approve the election of Mr. Bai Tao as an Executive Director of the seventh session of the Board of Directors of the Company.

Holders of A Shares

19,365,405,297

99.998825

227,509

0.001175

0

0.000000

19,365,632,806

Holders of H Shares

2,089,684,118

94.424451

122,681,090

5.543467

710,003

0.032082

2,213,075,211

Total

21,455,089,415

99.427127

122,908,599

0.569583

710,003

0.003290

21,578,708,017

The resolution was duly passed as an ordinary resolution. The qualification of Mr. Bai Tao is subject to the approval of the China Banking and Insurance Regulatory Commission (the “CBIRC“).

2

To consider and approve the election of Mr. Huang Yiping as an Independent Director of the seventh session of the Board of Directors of the Company.

Holders of A Shares

19,365,631,306

99.999992

1,500

0.000008

0

0.000000

19,365,632,806

Holders of H Shares

2,209,215,818

99.825609

3,149,555

0.142316

709,838

0.032075

2,213,075,211

Total

21,574,847,124

99.982108

3,151,055

0.014602

709,838

0.003290

21,578,708,017

The resolution was duly passed as an ordinary resolution. The qualification of Mr. Huang Yiping is subject to the approval of the CBIRC.

3

To consider and approve the election of Ms. Chen Jie as an Independent Director of the seventh session of the Board of Directors of the Company.

Holders of A Shares

19,365,631,306

99.999992

1,400

0.000007

100

0.000001

19,365,632,806

Holders of H Shares

2,208,990,388

99.815423

3,370,405

0.152295

714,418

0.032282

2,213,075,211

Total

21,574,621,694

99.981063

3,371,805

0.015626

714,518

0.003311

21,578,708,017

The resolution was duly passed as an ordinary resolution. The qualification of Ms. Chen Jie is subject to the approval of the CBIRC.

4

To consider and approve the outline of the “14th Five-Year Development Plan” of the Company.

Holders of A Shares

19,365,464,306

99.999130

168,500

0.000870

0

0.000000

19,365,632,806

Holders of H Shares

2,199,185,857

99.372396

13,304,283

0.601167

585.071

0.026437

2,213,075,211

Total

21,564,650,163

99.934853

13,472,783

0.062436

585.071

0.002711

21,578,708,017

The resolution was duly passed as an ordinary resolution.

Pursuant to the relevant laws and regulations of the PRC, the Company announces the poll results of holders of A Shares who individually or in aggregate hold less than 5% of the shares of the Company in respect of Resolutions No. 1 to 3 proposed at the EGM as follows:

Resolutions

For

Against

Abstain

No. of Shares Voted

Percentage %

No. of Shares Voted

Percentage %

No. of Shares Voted

Percentage %

As ordinary resolutions

1

To consider and approve the election of Mr. Bai Tao as an Executive Director of the seventh session of the Board of Directors of the Company.

41,875,297

99.459635

227,509

0.540365

0

0.000000

2

To consider and approve the election of Mr. Huang Yiping as an Independent Director of the seventh session of the Board of Directors of the Company.

42,101,306

99.996437

1,500

0.003563

0

0.000000

3

To consider and approve the election of Ms. Chen Jie as an Independent Director of the seventh session of the Board of Directors of the Company.

42,101,306

99.996437

1,400

0.003325

100

0.000238

The full text of the resolutions is set out in the circular and notice of the EGM dated 11 March 2022.

Computershare Hong Kong Investor Services Limited, the Company’s H Share registrar, in conjunction with King & Wood Mallesons, the Company’s PRC legal adviser, acted as scrutineers for the vote-taking at the EGM.

By Order of the Board

China Life Insurance Company Limited

Heng Victor Ja Wei

Company Secretary

Hong Kong, 27 April 2022

As at the date of this announcement, the Board of the Company included:

Executive Directors:

Su Hengxuan, Li Mingguang, Huang Xiumei

Non-executive Directors:

Yuan Changqing, Wang Junhui

Independent Non-executive Directors:

Tang Xin, Leung Oi-Sie Elsie, Lam Chi Kuen, Zhai Haitao

4

Disclaimer

China Life Insurance Co.Ltd. published this content on April 27, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on April 28, 2022 08:44:04 UTC.

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All news about CHINA LIFE INSURANCE COMPANY LIMITED

Analyst Recommendations on CHINA LIFE INSURANCE COMPANY LIMITED

Sales 2022 665B
101B
101B
Net income 2022 53,009M
8,080M
8,080M
Net Debt 2022

P/E ratio 2022 5.08x
Yield 2022 6.95%
capitalization 436B
66,398M
66,398M
capi. / Sales 2022 0.65x
capi. / Sales 2023 0.59x
Number of Employees 103,262
Free Float 99.5%

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Technical analysis trends CHINA LIFE INSURANCE COMPANY LIMITED

short-term Mid Term Long term
trends neutral Bearish Bearish



Income Statement Evolution

Sell

Buy

Mean-consensus BUY
Number of Analysts 23
Last Close Price CNY9.28
Average target price CNY13.20
Spread / Average Target 42.3%


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