7月4日，"格隆汇·中期策略峰会·2025"于深圳盛大开幕。其中"格隆汇·金格奖"ESG卓越公司评选中，第四范式 （06682.HK）、晋景新能（01783.HK）、康桥悦生活（02205.HK）、平安好医生（01833.HK）、瑞声科技 （02018.HK）、首程控股（00697.HK）、通威股份（600438.SH）、药师帮（09885.HK）、招金矿业（01818.HK）、 中国春来（01969.HK）、中国再保险（01508.HK）、中核国际（02302.HK）12家企业荣获"ESG可持续发展卓越企 业"奖项。（排名不分先后，按公司首部字母顺序排列） 格隆汇以"全球视野，下注中国"为初衷，本次评选旨在打造出投资圈中在ESG领域最具参考价值的卓越公司排行榜。 此次"格隆汇金格奖"ESG卓越公司评选覆盖港交所、上交所、深交所、纽交所、美国证券交易所、纳斯达克证券交易 所挂牌上市的全部上市公司及优质公司项目。 "ESG可持续发展卓越企业"奖项旨在嘉奖在环境、社会、治理三大维度全面布局，积极推进绿色转型，深度赋能社会 责任，以透明治理引领行业高质量发展，为实现中国 "双碳" 目标贡献力量，为资本市场树立长期价 ...

Core Insights - The year 2025 marks a pivotal moment in human civilization, with a structural economic recovery and a reconfiguration of global order driven by technological revolutions and capital flows [1][2][3] Event Summary - The "Gelonghui Mid-term Strategy Summit 2025" will be held on July 4-5, 2025, at the Shangri-La Hotel in Nanshan, Shenzhen, featuring discussions on the future of China's capital market and various investment opportunities [4] - The summit will include the release of the "Gelonghui Golden Award" ESG Excellence List, aimed at creating a reference for outstanding ESG companies across Hong Kong, US, and A-share markets [4] ESG Awards - The ESG Sustainable Development Excellence Companies include Fourth Paradigm, Jin Jing New Energy, and Ping An Good Doctor among others [4] - The ESG Environmentally Friendly Excellence Companies list features TCL Electronics, Bosideng, and SF Express among others [5] - The ESG Social Responsibility Excellence Companies include Kangchen Pharmaceutical, Lenovo Group, and China Feihe among others [6] - The ESG Corporate Governance Excellence Companies list features Dongfang Risheng, Longfor Group, and China Merchants Commercial Real Estate among others [7] - The ESG Innovation Practice Excellence Companies include Beijing Gas Blue Sky, Meitu, and Ctrip among others [8] - The ESG Information Disclosure Excellence Companies list features TCL Technology, Jiangyin International, and Yili among others [9] ESG Projects and Teams - Notable ESG projects include BYD's Super e-platform and Ningde Times' Qiji Battery Swap Solution [10] - The ESG Excellence IR Teams include companies like Baio Family Interactive and Guotai Junan International [10] - The ESG Excellence PR Teams feature companies such as BYD and H&H International Holdings [11] - ESG Excellence Leaders include Yang Guoping from Dazhong Public Utilities and Hu Zuoxiong from Lingxiong Technology [12]

Core Viewpoint - The article highlights the proactive role of China Reinsurance (Group) Corporation in global risk management and its strategic internationalization efforts, positioning itself as a leading player in the global reinsurance market amid increasing global risks due to climate change and geopolitical conflicts [1][2]. Group 1: Globalization Strategy - China Re has been actively expanding its international presence since joining the WTO in 2001, with foreign branches established in 11 countries and regions, covering property insurance, life reinsurance, and insurance asset management [2][3]. - The company has set up representative offices in London, Hong Kong, and New York since 1999, and successfully listed on the Hong Kong Stock Exchange in 2015, enhancing its global influence and operational capabilities [3]. Group 2: Risk Management Innovations - China Re has issued catastrophe bonds in Bermuda and Hong Kong, marking significant advancements in the securitization of insurance risks, and has provided risk protection to clients in over 200 countries and regions [4]. - The company has captured approximately 40% of the average annual inbound premium of 25 billion yuan from overseas, showcasing its significant role in the domestic market [4]. Group 3: Belt and Road Initiative - China Re has established a global service system for the Belt and Road Initiative, providing risk coverage for major projects with a total insured amount exceeding 220 billion yuan, contributing to sustainable development [5][6]. - The company has led the formation of the China Belt and Road Reinsurance Community, collaborating with 24 insurance institutions to enhance risk protection capabilities across 136 countries and regions [5]. Group 4: Future Development Goals - By 2035, China Re aims to become a world-class comprehensive reinsurance group with distinct Chinese characteristics, emphasizing strategic planning and international market influence [7][8]. - The company plans to enhance its international business management capabilities and optimize its overseas network in response to global market changes, while addressing challenges such as extreme weather and geopolitical risks [7].

6月28日，全国首个面向低空经济运营管理方的专业运营责任保险产品——"安翼计划"在第三届低空(苏 州)产业创新生态大会暨2025数字低空大会上正式发布并实现首单落地。据了解，该保险方案由苏州东 吴财产保险股份有限公司联合中国财产再保险有限责任公司研发，首单为苏州市盛泽湖全空间无人体系 示范岛试飞运营场地提供了运营管理方风险保障。(上证报) ...

港股保险股回调，众安在线(06060.HK)跌超8%，云锋金融(00376.HK)跌超7%，中国再保险 (01508.HK)、中国人寿(02628.HK)、中国平安(02318.HK)等多股下挫。 ...

风格敞口 中国再保险集团 - H 中国再保险行业的标杆；首次覆盖，给予"增持"评 级 中国再保险集团在中国再保险市场中占据主导地位，2024 年市场份额接 近 50%（中再产险为 22%，中再寿险为 28%）。由于长端国债收益率处 于历史低位，中国保险行业面临偿付能力负担。资本欠佳/承压的保险公 司可以使用中再的资本改善产品（如财务再保险），提升偿付能力充足 率。财务再保险作为一种风险转移/资本缓解工具，一般被资本欠佳的保 险公司用来改善资本充足率。沉重的宏观压力对财务再保险合同需求的 提升构成上行风险，而来自面临偿付能力压力的寿险公司的需求尤甚。 因此，我们首次覆盖中再，因其具有稀缺性价值，给予"增持"评级， 主要支撑因素包括：1) 独特的产品供应，有助于缓解寿险公司的资本压 力；2) 在经济周期中，增速高于直保公司；3) 得益于境外业务敞口，业 务风险分散，同时具有外汇对冲收益。 中国 证券研究 2025 年 6 月 22 日 首次覆盖 增持 1508.HK, 1508 HK 股价（2025 年 6 月 20 日）： 1.14 港元 目标价（2025 年 12 月）： 1.40 港元 证券研究报告 保险 ...

港股保险股震荡走强，中国太平(00966.HK)涨超6%，新华保险(01336.HK)涨超5%，中国再保险 (01508.HK)涨超4.5%，中国人寿(02628.HK)涨超4%，中国太保(02601.HK)、中国平安(02318.HK)、众安 在线(06060.HK)均涨2.8%。 ...

2025年5月7日，央行宣布全面降准0.5个百分点并同步下调政策利率，释放长期流动性约1万亿元（币种 为人民币，如无特别说明以下同），标志着货币政策进一步向"适度宽松"倾斜。 这一政策组合拳不仅为实体经济注入动能，更通过利率传导机制重塑金融市场格局。对再保险行业而 言，低利率环境加速了风险定价体系的重构，倒逼行业深化风险管理能力与产品创新效率，具备全周期 风险分散能力和资产负债管理优势的头部企业将迎来结构性机遇。 聚焦到公司层面，作为国内再保险行业的领军企业，中国再保险（简称"中国再保"）在此轮政策周期中 展现出显著的领跑态势。其亚洲第一、全球第八的业务规模优势，叠加在上海国际再保险中心建设中的 核心参与地位，使其能够充分承接政策释放的增量需求。当市场加速重构风险分散机制，这种集规模效 应、技术壁垒与政策先发优势于一体的行业地位，正成为中国再保把握政策红利的核心动能。 恰逢近期其发布了2025年第一季度财报，接下来不妨结合这份成绩单，来看看中国再保在政策红利推动 下的成长逻辑和投资亮点。 一、政策红利助力险企资产负债两端修复 从流动性释放、经济复苏传导至资本市场联动，政策红利的持续释放正在重塑再保险行业的价值 ...

港股保险股走高，中国太平(00966.HK)涨超6%，中国太保(02601.HK)、友邦保险(01299.HK)、中国人民 保险集团(01339.HK)、中国再保险(01508.HK)均涨超4%，中国人寿(02628.HK)涨近3%，中国平安 (02318.HK)涨1.75%。 ...

Core Viewpoint - The rapid development of the green industry has created significant funding demands, with green finance emerging as a crucial tool to support this growth, particularly through green insurance, which plays a vital role in risk management and investment for green projects [1][17]. Group 1: Overview of Green Insurance Industry - Green insurance, also known as ecological insurance, is a fundamental means of environmental risk management under market conditions, with environmental pollution liability insurance being the most representative type [3]. - The green insurance product system includes various categories such as pollution risk protection, resource risk protection, and green financial risk protection [4]. Group 2: Development History of Green Insurance - China's green insurance began in 2007 with pilot environmental liability insurance, and significant policy developments have occurred since then, including the 2016 guidance on building a green financial system [5]. - The latest guidance from the National Financial Regulatory Administration in 2024 aims to establish a comprehensive support system for green insurance by 2027 [7]. Group 3: Current Status of Green Insurance Industry - The green insurance market in China is still in its early stages, with a relatively small market size but steady growth in industry scale and product innovation [1][17]. - In 2023, the total premium income from green insurance reached 229.7 billion yuan, accounting for 4.5% of the total industry premium, with cumulative insurance coverage amounting to 709 trillion yuan [13][15]. Group 4: Key Enterprises in Green Insurance - Major companies in the green insurance sector include China Pacific Insurance, China Property & Casualty Insurance, and China Life Insurance, each contributing significantly to the green insurance market with substantial coverage amounts [19][20]. - For instance, by 2024, China Pacific Insurance's green insurance coverage is expected to exceed 147 trillion yuan, while China Property & Casualty Insurance is projected to provide 161.9 trillion yuan in risk protection [20][24]. Group 5: Future Trends in Green Insurance - The industry is expected to see a diversification of products and services, with a focus on integrating environmental risk considerations into traditional insurance offerings [26][27]. - Regulatory bodies and insurance companies are encouraged to enhance the green investment mechanisms to support sustainable projects effectively [28].