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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  China Life Insurance Company Limited    601628   CNE000001Q93

CHINA LIFE INSURANCE COMPANY LIMITED

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Didi Chuxing Gets $600 Million Strategic Investment From China Life

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06/12/2016 | 09:55pm EST
   By Juro Osawa 
 

HONG KONG--China's homegrown competitor to Uber Technologies Inc. said it received about $600 million from a top Chinese life insurer as part of its latest fundraising operation.

Didi Chuxing Technology Co., China's largest ride-sharing company, said Monday the strategic investment from China Life Insurance Co. (>> China Life Insurance Company Limited) is made up of an equity investment of $300 million and a long-term debt investment of about $300 million.

China Life, the country's largest state-owned commercial insurer, is the latest addition to the list of Didi's powerful investors. Last month, Apple Inc. (>> Apple Inc.) said it invested $1 billion in Didi. Didi's other major investors include Chinese online shopping company Alibaba Group Holding Ltd. (>> Alibaba Group Holding Ltd) and Chinese social-network company Tencent Holdings Ltd. (>> Tencent Holdings Ltd).

China is a crucial market for Uber. But the U.S. company faces fierce competition from Didi, which has a larger share of China's private car-sharing market and also dominates in taxi hailing.

Write to Juro Osawa at juro.osawa@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING 0.41% 220.52 Delayed Quote.3.97%
APPLE INC. -1.83% 319 Delayed Quote.8.63%
CHINA LIFE INSURANCE COMPANY LIMITED 0.22% 31.19 End-of-day quote.-12.33%
TENCENT HOLDINGS LIMITED -2.02% 408.2 End-of-day quote.8.62%
UBER TECHNOLOGIES, INC. 1.31% 40.18 Delayed Quote.35.10%
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02/18CHINA LIFE INSURANCE : Announcement of Premium Income
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Financials (CNY)
Sales 2019 571 B
EBIT 2019 67 565 M
Net income 2019 56 893 M
Finance 2019 695 B
Yield 2019 4,59%
P/E ratio 2019 8,54x
P/E ratio 2020 10,6x
EV / Sales2019 0,14x
EV / Sales2020 0,10x
Capitalization 777 B
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Technical analysis trends CHINA LIFE INSURANCE COMPA
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 23,29  CNY
Last Close Price 17,34  CNY
Spread / Highest target 149%
Spread / Average Target 34,3%
Spread / Lowest Target -5,88%
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