Core Viewpoint - The acceleration of insurance capital entering the market is highlighted by the establishment of new private equity funds, indicating a significant shift towards long-term equity investments by insurance companies in response to regulatory encouragement [2][3][6]. Group 1: Insurance Capital Market Entry - Ping An Asset Management has received approval to establish Hengyi Chiying (Shenzhen) Private Fund Management Co., marking the third insurance private equity manager licensed in China [2][3]. - The total scale of the insurance capital long-term investment reform pilot will increase to 222 billion yuan, with 50 billion yuan already invested and an additional 172 billion yuan in preparation for market entry [3][4]. - The new "National Ten Articles" policy released in September 2024 aims to expand the pilot program, allowing more insurance institutions to establish private equity funds [3][4]. Group 2: Investment Strategies and Focus - Hengyi Chiying will focus on long-term and value investments, targeting high-quality listed companies that align with policy directions and insurance capital needs [3][6]. - Insurance companies are increasingly favoring large-cap, liquid stocks with stable dividends, as seen in the investment strategies of various funds like Honghu Fund [9][10]. - The investment landscape includes a diverse range of sectors, with significant holdings in electronics, pharmaceuticals, machinery, and power equipment, among others [8][10]. Group 3: Regulatory Support and Market Dynamics - Regulatory measures have been implemented to encourage long-term investments, including raising the upper limit for equity asset allocation and adjusting risk factors for stock investments [6][11]. - The establishment of new private equity funds has surged, with several insurance companies launching their funds in May 2025, indicating a robust response to regulatory incentives [6][7]. - The shift towards equity investments is seen as a strategic move for insurance companies to optimize asset allocation, reduce risks, and enhance long-term returns [11][12].

FF301 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01336 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,034,107,260 | RMB | | 1 | RMB | | 1,034,107,260 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 1,034,107,260 | RMB | | | 1 RMB | | 1,034,107,260 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 ( ...

Core Insights - RBC iShares has launched two new iShares ETFs, expanding its Core ETF lineup to provide investors with more options for diversified investment [1][6] - The iShares Core S&P Total U.S. Stock Market Index ETF (XTOT) offers broad exposure to the entire U.S. equity market, including large-, mid-, small-, and micro-cap companies [2][3] - The iShares Core Canadian Short-Mid Term Universe Bond Index ETF (XSMB) provides access to a diversified range of Canadian bonds with maturities between 1 and 10 years [4][5] Fund Details - XTOT has an annual management fee of 0.07%, while XSMB has a management fee of 0.15% [7] - Both ETFs are expected to begin trading on the Toronto Stock Exchange (TSX) [6] - The launch aims to help Canadian investors build efficient portfolios and achieve their investment objectives [7] Company Background - BlackRock Canada manages the iShares Funds, which are part of a larger suite of over 1,500 ETFs with approximately US$4.3 trillion in assets under management as of March 31, 2025 [10] - RBC Global Asset Management, a division of Royal Bank of Canada, provides investment management services and solutions across various investment vehicles [13]

Group 1 - The core viewpoint of the news is the establishment of Hengyi Holding (Shenzhen) Private Fund Management Co., Ltd. by Ping An Asset Management, which has been approved by the National Financial Regulatory Administration, marking progress in the long-term investment reform pilot for insurance funds [1][2] - Hengyi Holding will serve as the fund manager to issue a contract-type private securities investment fund to Ping An Life, with an initial fund size of 30 billion yuan [2][3] - The establishment of Hengyi Holding reflects a trend where large domestic insurance institutions are entering the "long-term investment reform pilot" through private platforms to invest in the domestic equity market [1][4] Group 2 - Over the past year, insurance funds have established private institutions, creating new channels for long-term investment in the domestic equity market, with a total pilot scale of 2,220 billion yuan across various phases [5] - The first phase of the pilot program had a scale of 500 billion yuan, while the second phase was 1,120 billion yuan, and a third phase of 600 billion yuan is pending approval [5] - Not only large insurance companies but also medium and small insurance firms are participating in the reform, with companies like Zhongyou Insurance and Zhongyou Insurance Asset Management approved for a 10 billion yuan scale [5]

保险资金长期投资改革试点落地有新进展。 日前，平安资产管理有限责任公司正式获批设立恒毅持盈 (深圳）私募基金管理有限公司（下称"恒毅持 盈"），并于5月30日完成工商登记。 据了解，恒毅持盈将作为基金管理人向平安人寿定向发行契约型私募证券投资基金，首期基金规模300亿元。 基金将聚焦"长期投资、价值投资"的理念，重点布局符合政策导向和险资配置需要的优质上市公司。 保险资金长期投资改革试点，指的是保险公司出资设立私募证券基金，主要投向二级市场股票，并长期持有。 今年3月，金融监管总局批复5家保险公司开展长期投资改革试点，平安人寿是试点公司之一。 天眼查显示，恒毅持盈注册资本3亿元，法定代表人窦泽云，许可经营项目包括，私募证券投资基金管理服务 等（须在中国证券投资基金业协会完成登记备案后方可从事经营活动）。 今年3月，中国平安总经理兼联席首席执行官谢永林接受券商中国记者专访时曾谈及该试点，其表示，长期股 票投资试点政策打通了中长期资金入市的卡点堵点，为险资提供良好的投资环境，平安将积极配合国家政策， 推动险资入市。 谢永林认为，险资入市将带来多方共赢，既有利于改善资本市场资金供给结构，也可帮助企业获取长期稳定 的 ...

Core Viewpoint - The second batch of insurance capital long-term stock investment pilot programs is progressing, with the establishment of the Taikang Stable Fund, which aims to enhance long-term investment strategies and optimize asset-liability matching for insurance funds [2][3]. Group 1: Investment Pilot Programs - Taikang Stable Fund has completed its registration and will issue a private securities investment fund with an initial investment scale of 12 billion yuan [2]. - The second batch of pilot institutions has expanded to eight, with a total scale of 112 billion yuan, and a third batch of institutions is being approved with a scale of 60 billion yuan [5]. - The first batch included China Life and Xinhua Insurance, each contributing 25 billion yuan to establish a 50 billion yuan fund focused on strategic emerging industries [4][5]. Group 2: Regulatory Support - Regulatory bodies are encouraging long-term investments from insurance funds to stabilize the capital market, with measures including expanding pilot programs and adjusting asset allocation regulations [6][7]. - The recent policy changes allow insurance companies to increase their equity asset allocation limit to 50% of total assets, enhancing investment flexibility [6][7]. - The Financial Regulatory Bureau announced a reduction in risk factors for stock investments, which will free up more capital for investment in the stock market [7][8]. Group 3: Market Impact - The influx of insurance capital is expected to reduce market volatility and promote value investment, contributing to the healthy development of the capital market [5][6]. - Major insurance companies are committing to increase investments in strategic emerging industries and advanced manufacturing, reflecting their role as "patient capital" [7][8].

Core Viewpoint - The recent developments in the insurance capital long-term investment reform pilot indicate a significant increase in the scale of insurance funds entering the market, with over 170 billion yuan of "long money" accelerating its market entry [1][5]. Group 1: Investment Fund Developments - The first insurance-related private securities investment fund, Honghu Fund, was established with a total scale of 500 billion yuan, funded equally by China Life and Xinhua Insurance [2]. - The second phase of the Honghu Fund has been established with a scale of 200 billion yuan, again jointly subscribed by Xinhua Insurance and China Life [2]. - Honghu Fund III has been approved for establishment, focusing on investing in large-cap blue-chip companies with good governance and stable dividends [3]. Group 2: Participation and Applications - Multiple insurance companies are applying to participate in the third batch of the long-term investment reform pilot, with some smaller institutions looking to invest in private securities funds initiated by larger institutions [4]. - The establishment of new private fund management companies by insurance firms is on the rise, indicating a proactive approach to long-term investment [3]. Group 3: Long-term Investment Strategy - The long-term investment strategy is seen as a response to policy calls and a way to address the challenges faced in equity investments [5]. - The use of private securities funds for long-term stock investments helps mitigate profit volatility under new accounting standards [6][7]. - Insurance companies are exploring various methods to increase equity investment while stabilizing profit fluctuations, such as acquiring significant stakes in listed companies [7]. Group 4: Market Environment and Future Outlook - In a low-interest-rate environment, there is a growing demand for insurance funds to increase their allocation to equity assets [8]. - Future efforts will focus on expanding the long-term investment pilot and optimizing incentive mechanisms to promote insurance capital market entry [8].

Core Viewpoint - The board of directors of New China Life Insurance Co., Ltd. held its 33rd meeting of the 8th session, where several key resolutions were passed regarding financial and operational management for the upcoming years [1]. Group 1: Meeting Resolutions - The board approved the "2024 Solvency Stress Test Report" with unanimous support [1]. - The "2025-2027 Capital Planning Report" was also approved unanimously [1]. - The board passed a resolution to amend the working rules of the board's professional committees, receiving unanimous approval [1]. - The "2024 Asset-Liability Management Annual Report" was approved with unanimous votes [1]. - The board approved the amendment of the "Internal Audit Policy" unanimously [1]. - The "Company Recovery Plan (2025 Version)" was approved unanimously [1]. - The board passed the amendment of the "Operational Risk Management System" unanimously [1]. - The "2025 Risk Appetite Statement" was approved unanimously [1]. - The board approved the appointment of the chairpersons of the functional committees under the executive committee, with 8 votes in favor, while 2 directors abstained from voting [1].

新华人寿保险股份有限公司 董事会提名薪酬委员会工作细则 第一章 总 则 第一条 为便于新华人寿保险股份有限公司（下称"公司"） 董事会提名薪酬委员会规范、高效开展工作，公司董事会根据《新 华人寿保险股份有限公司章程》（下称《公司章程》）、《董事会议 事规则》和相关法律、法规、规范性文件的规定，制定本细则。 第二条 提名薪酬委员会(下称"委员会")是根据《公司章 程》规定设立的董事会专业委员会，对董事会负责，根据董事会 授权协助董事会履行职责，就相关议案进行审议后形成专业意见 提交董事会。 第二章 人员组成 第三条 委员会委员由公司董事会选举产生，由三名以上非 执行董事组成，其中独立董事应占多数。 第四条 委员会委员应当具有较强的识人、用人和薪酬管理 能力，具备五年以上在企事业单位或者国家机关担任领导或者管 理职务的任职经历。 （四）提议召开临时会议； 1 / 11 第五条 委员会设主任委员一名，由独立董事担任。主任委 员的职责主要为： （一）负责召集、主持委员会会议，组织委员会有效运作并 履行职责； （二）督促、检查委员会的工作； （三）确定每次会议的议题和议程； （五）向董事会报告委员会的工作； （六）董事 ...

A 股证券代码：601336 A 股证券简称：新华保险 公告编号：2025-030 H 股证券代码：01336 H 股证券简称：新华保险 新华人寿保险股份有限公司 关于召开2024年年度股东大会的通知 新华人寿保险股份有限公司董事会及全体董事保证本公告内容不存在任何 虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 重要内容提示： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2024年年度股东大会（以下简称"本次股东大会"或"股东大会"） （四） 现场会议召开的日期、时间和地点 股东大会召开日期：2025年6月27日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 召开的日期时间：2025 年 6 月 27 日 14 点 30 分 召开地点：北京市朝阳区建国门外大街甲 12 号新华保险大厦 21 层 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 6 月 27 日至2025 年 6 月 27 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 ...