按照市场普遍算法： | 指定儲蓄保險計劃 | 預繳保費期 | 預繳保費保證優惠年利率 | | | --- | --- | --- | --- | | | | 基本計劃的年繳保費 | | | | | 少於200,000美元 | 200,000美元或以上 | | · 「盈得多元貨幣計劃3」 · 環宇 · 諸蓄保險計劃 | 1年 (註:投保時須繳付2年的總保費, 其中包括首年保費及1年預繳保費。) | | 5.0% | | (只限5年保費繳付期之美元保單) | 4年 | | | | | (註：投保時須繳付5年的總保費, | 4.3% | 公公司 - 基礎建言 | | | 其中包括首年保費及4年預繳保費。) | | | 以 "20 万美元 * 5 年缴" 的投保方案为例，若采用预缴方式且满足保费20万美元以上条件，预缴部分享受4.7%保证利率，最终能收获103,151美元预缴总利 息，这一数字约为首年保费的51.5%。 但要是10月优惠取消，投保人将眼睁睁看着10万多美元收益 "打水漂"。 背后原因，主要源于美联储降息预期。 9月美联储降息已板上钉钉，市场普遍预期年底前还会有两次降息。 这条看似遥远的传导链，最终会触 ...

Market Overview - The Hang Seng Index (HSI) closed at 26,109.58, down by 49.54 points or 0.19% on September 23 [1] - The index reached a high of 26,404.34 and a low of 26,106.95 during the trading session, with a trading volume of 65.684 million shares [1] - The 52-week high for the index is 26,915.35, while the 52-week low is 18,856.77, indicating a volatility of 1.14% [1] Major Blue-Chip Stocks Performance - HSBC Holdings closed at 109.177 HKD, up by 0.53% compared to the previous close [2] - Tencent Holdings closed at 633.990 HKD, down by 0.24% compared to the previous close [2] - Alibaba Group (ADR) closed at 158.517 HKD, down by 0.55% compared to the previous close [3] - Other notable performances include: - AIA Group down by 1.53% to 70.900 HKD [3] - Meituan down by 2.79% to 101.000 HKD [3] - JD.com down by 4.40% to 128.300 HKD [3] Summary of Key Stock Movements - Tencent Holdings: Latest price 635.500 HKD, down by 0.86% [3] - Alibaba Group: Latest price 159.400 HKD, up by 0.13% [3] - HSBC Holdings: Latest price 108.600 HKD, up by 1.31% [3] - Xiaomi Group: Latest price 55.450 HKD, down by 1.16% [3] - BYD Company: Latest price 106.300 HKD, down by 3.10% [3] - Baidu Group: Latest price 128.400 HKD, down by 5.38% [3]

New Stock Activities - Companies currently in the IPO process include Botai Cheliang, Xipuni, and Zijin Gold International [1] - Chery Automobile is at the pricing stage, while Different Group is set for its listing date [1] Earnings Announcements - JBB Builders and Chuangneng Group are scheduled to announce their earnings [1] Shareholder Meetings - Companies holding shareholder meetings include Xinhua Wencuan, Jiajin Investment International, and Everbright Securities [1] - Other companies with scheduled meetings are Jiajin Investment International, Huangdafukong, Liangqing Holdings, Youran Muye, and Jinshi Holdings Group [1] Trading Suspension and Resumption - Changhong Jiahua is set to resume trading [1] Dividend Distribution - Companies with upcoming dividend-related dates include Tian Ge Interactive (ex-dividend date), KLN (dividend payment date), COSCO Shipping Holdings (ex-dividend date), Anta Sports (dividend payment date), and Yisheng Biotechnology (dividend payment date) [1] - Other companies with dividend-related dates include Tai Hing Group (ex-dividend date), Longji Group (dividend payment date), Zhou Li Fu (ex-dividend date), and Junjie Group Holdings (ex-dividend date) [1]

山东足球文化底蕴深厚，济南足球氛围尤为热烈。本次活动进一步激发了泉城青少年对足球运动的热情。现场根据年龄段对小球员进行科学分组，确保每位 孩子都能获得适龄、专业的训练指导。在基础训练环节，教练耐心示范、细致纠正，帮助孩子们夯实基本功；在对抗赛环节，小球员全力拼搏、奋勇争先， 展现出朝气蓬勃的体育精神。活动尾声，教练组评选出"MVP小球员"并予以表彰。 作为英超托特纳姆热刺俱乐部的全球主要合作伙伴，友邦保险长期与热刺携手推动足球运动普及，倡导健康积极的生活方式。为提升本届训练营的专业性和 国际视野，友邦山东特别邀请托特纳姆热刺国际拓展教练香侬·莫洛尼亲临现场指导，并联合中国足协认证教练及专业青训机构教练，共同组成高水平教练 团队，为小球员们量身打造了一套融合国际理念与本土化需求的训练课程。 健康长久好生活 RAIN 健康长久好生活 保险 AIA 友邦保险 友邦保险 A The Real 2025年9月20日，山东省体育中心迎来一场青少年足球盛会——友邦保险青少年足球训练营首次落地山东济南。友邦人寿山东分公司（以下简称"友邦山 东"）特邀近600名小球员齐聚绿茵场，共同体验专业足球训练与趣味竞技互动。 健康长 S ...

（文章来源：每日经济新闻） 每经AI快讯，Wind数据显示，9月18日，共27只港股获公司回购，4只个股回购金额超千万港元。其 中，腾讯控股、恒生银行、美高梅中国回购金额最大，分别获公司回购5.5亿港元、2379.52万港元、 1875.8万港元。截至9月18日，今年已有228只港股获公司回购，48只个股年内累计回购金额超亿港元。 其中，腾讯控股、汇丰控股、友邦保险年内累计回购金额最大，分别获公司回购532.57亿港元、260.37 亿港元、176.93亿港元。 ...

Market Overview - The Hang Seng Index (HSI) closed at 26,523.97, down by 20.88 points or 0.08% as of September 18, 16:00 Eastern Time [1] - The index reached a high of 26,568.27 and a low of 26,422.86 during the trading session, with a trading volume of 74.7354 million [1] Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 108.106, up by 0.85% compared to the Hong Kong closing price [2] - Tencent Holdings closed at HKD 642.805, reflecting a slight increase of 0.13% from the Hong Kong closing price [2] Individual Stock Movements - Tencent Holdings saw a decrease of HKD 19.500, or 2.95%, with an ADR price of 642.805 [3] - Alibaba Group (ADR) decreased by HKD 3.200, or 1.98%, with an ADR price of 157.960 [3] - HSBC Holdings increased by HKD 0.600, or 0.56%, with an ADR price of 108.106 [3] - China Construction Bank decreased by HKD 0.190, or 2.42%, with an ADR price of 7.641 [3] - AIA Group saw a decline of HKD 1.300, or 1.74%, with an ADR price of 73.536 [3] - NetEase experienced a drop of HKD 6.000, or 2.44%, with an ADR price of 237.834 [3] - Hong Kong Exchanges and Clearing fell by HKD 14.000, or 3.06%, with an ADR price of 446.269 [3] - Ping An Insurance decreased by HKD 1.500, or 2.69%, with an ADR price of 54.170 [3] - JD.com saw a decline of HKD 2.400, or 1.76%, with an ADR price of 137.583 [3] - Kuaishou Technology dropped by HKD 1.850, or 2.37%, with an ADR price of 72.913 [3]

Group 1 - The core theme of the financial education campaign is "popularizing financial knowledge and safeguarding financial security," aiming to enhance financial literacy among students and faculty [1][6] - The event featured a comprehensive explanation of the insurance industry, highlighting its role as a "stabilizer of social economy" and a "safety net for risk protection," emphasizing the importance of insurance in the national multi-level social security system [3][5] - The promotional team utilized an innovative "case + illustration" approach to clarify the operational logic of insurance companies, showcasing how they balance customer rights protection with sustainable development through scientific risk control and compliance [3][5] Group 2 - The company emphasized its commitment to social responsibility by educating participants about the "eight rights of financial consumers," including property safety rights and the right to information, encouraging awareness of legal rights in financial consumption [5][6] - The campaign addressed critical areas of financial security, such as anti-money laundering and anti-insurance fraud, using real case studies to illustrate the dangers of these illegal activities and urging participants to resist financial misconduct [5] - The event specifically targeted the risks associated with campus loans, analyzing common pitfalls like high interest rates and aggressive collection practices, while guiding students towards responsible financial behavior and legitimate assistance channels [5][6]

Market Overview - The Hang Seng Index (HSI) closed at 26,797.18, down by 111.21 points or 0.41% on September 17 [1] - The index reached a high of 26,915.65 and a low of 26,708.53 during the trading session, with a trading volume of 112 million shares [1] Major Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 108.373, up by 1.66% compared to the Hong Kong close [2] - Tencent Holdings closed at HKD 661.407, down by 0.01% compared to the Hong Kong close [2] Stock Price Movements - Tencent Holdings (00700) saw an increase of HKD 16.500, or 2.56%, with an ADR price of HKD 661.407, showing a slight decline of HKD 0.093 compared to the Hong Kong market [3] - Alibaba Group (09988) increased by HKD 8.100, or 5.28%, with an ADR price of HKD 161.550, down by HKD 0.050 [3] - Other notable movements include: - Meituan (03690) up by HKD 4.900, or 4.89% [3] - Baidu Group (09888) up by HKD 17.800, or 15.72% [3] - Kuaishou (01024) up by HKD 2.650, or 3.51% [3]

Summary of AIA Group's Conference Call Company Overview - **Company**: AIA Group - **Industry**: Insurance Services Key Points and Arguments Financial Performance - AIA Group reported a 19% growth in insurance service performance for the first half of 2025, driven by stable release and increased operational variances, despite a negative investment performance of -7% due to high equity allocation in participating accounts [2][3] - The annualized shareholder return reached 3.7%, with a target for compound annual growth rate (CAGR) of after-tax operating profit per share set at 9%-11% from 2023 to 2026 [3][2] New Business Value (NBV) - Strong growth in new business value (NBV) was noted, with a 30% increase in 2023 and a 14% increase in the first half of 2025 (at constant exchange rates), with 13 out of 18 markets showing growth [2][6] - The NBV margin increased by 3.4 percentage points to 57.7%, with new single premium growth of 8% [6][2] Shareholder Returns and Capital Management - AIA has consistently increased its dividend since its listing, with a dividend payout ratio exceeding 35%. The company plans to allocate 75% of new retained earnings for share buybacks and dividends [2][5] - Expected shareholder returns are projected at 4.6% for 2025, with 4% for 2026 and 2027 [5][2] Regional Performance - AIA Hong Kong contributed 35% to the group, with a 2 percentage point increase year-on-year. The NBV from mainland visitors purchasing insurance grew by 24% [4][13] - AIA China saw a 10% increase in NBV in the first half of 2025, with a 15% increase in Q2, despite facing pressure in the agent channel [11][2] Strategic Initiatives - AIA is focusing on expanding its agent channel, which remains the primary sales channel, and aims for a 40% compound annual growth rate in new business value from newly opened regions [11][12] - The company is enhancing its governance structure with a high proportion of independent directors and local empowerment management frameworks [4][9] Market Insights - The Singapore market experienced a 16% increase in NBV in the first half of 2025, while Malaysia is in a recovery phase with a 13% decline in MV due to poor agent channel performance [16][17] - Thailand's market showed a remarkable 35% increase in NBV, with a market share of 44% [18][17] Product Structure and Risk Management - AIA's product structure varies significantly across regions, with a focus on participating products in Hong Kong and floating yield products in mainland China [19][20] - The company has a global asset allocation strategy that diversifies risks and capitalizes on high-yield overseas markets [20][21] Valuation and Future Outlook - AIA's current price-to-value (PV) ratio is 1.36 times, which is considered low compared to a more reasonable estimate of 1.5 times [22][21] - The company anticipates strong long-term growth in premiums, particularly in Hong Kong, Singapore, Malaysia, and Thailand, with a projected double-digit growth in MVV [21][22] Additional Important Insights - The agent strategy has shown significant results, with an increase in active agents and productivity [10][4] - AIA's governance measures include a high number of independent directors and local management empowerment, which enhances operational efficiency [9][4]

证 券 研 究 报 告 负债端"反内卷"政策成效显著，投资端表现分化 ——保险行业2025年中报综述 证券分析师： 罗钻辉 A0230523090004 孙冀齐 A0230523110001 2025.9.16 核心观点：负债端"反内卷"政策成效显著，投资端表现分化 www.swsresearch.com 证券研究报告 2 ◼ 利润表现分化，EV稳步增长。1H25 A股上市险企归母净利润yoy+3.7%至1782亿元，受投资表现及金融资产会计分类、利率波动等因素影响， 上市险企利润增速位居-23.5%至1103.5%区间；从利源结构来看，1H25 A股上市险企保险服务业绩、投资业绩合计分别达1310.50/928.45亿元， 占税前利润比重分别达58.0%/41.1%，利源结构相对均衡。截至6月末，上市险企EV较24年末增速位居2.6%-18.4%区间，表现稳健。 ◼ 负债端"反内卷"政策持续显效，NBV、COR表现亮眼。1）人身险方面，多数险企NBVM同比改善驱动NBV延续高增态势。A股上市险企 1H25合计实现NBV754.22亿元，同比增长30.5%，上市险企1H25NBV增速位居14.0%-58.4% ...