Group 1 - The company, Dah Chong Hong Holdings (01828.HK), announced a temporary suspension of its shares trading on the Hong Kong Stock Exchange starting from 9 AM on October 15, 2019 [1] - The suspension is pending the release of an announcement regarding a proposed privatization plan [1]

格隆汇10月21日丨大昌行集团(01828.HK)公布，将于今天(21/10/2019)上午九时正起恢复买卖。 ...

Core Points - The proposal for privatization of Da Chang Hang Group involves a cash payment of HKD 3.70 per share, representing a premium of approximately 37.55% over the closing price of HKD 2.69 on October 14 [1] - The offeror, CITIC Pacific Limited, controls 1.074 billion shares, accounting for 56.81% of the issued shares, while the plan shareholders control 817 million shares, representing 43.19% of the issued shares [1] - Upon the plan's effectiveness, all plan shares will be canceled, and the shares will no longer have ownership documents or certificates [1] Company Information - The offeror is a company registered in the British Virgin Islands and is a wholly-owned subsidiary of CITIC Limited, primarily engaged in special steel manufacturing, energy, and real estate [2] - Trading of the company's shares will resume on the Hong Kong Stock Exchange starting from 9 AM on October 21, 2019 [3]

Core Points - 大昌行集团 announced a privatization offer from 中信股份 at a premium of 37.55% [1] - The board has appointed 新百利融资有限公司 as an independent financial advisor to assess the fairness of the offer [1] - The independent financial advisor's opinion will be included in the plan document sent to shareholders [1] Company Actions - The board's decision to appoint an independent financial advisor has been approved by the independent director committee [1] - The independent financial advisor will provide recommendations on how the independent director committee should vote at the court meeting and shareholders' meeting regarding the proposal [1] Regulatory Compliance - The appointment of the independent financial advisor is in accordance with the acquisition code rule 2.1 [1] - The advisor is licensed by the Securities and Futures Commission to conduct regulated activities under the Securities and Futures Ordinance [1]

计划文件内所载该计划之所有条件现时均已达成，该计划已于2020年1月8日(星期三)生效。有关计划股 东权益的支票将尽快但无论如何于生效日期后的七(7)个营业日(即2020年1月17日(星期五))内，以平邮方 式寄发予计划股东。 此外，股份于联交所的上市地位预期将于2020年1月10日(星期五)上午九时正撤销。 格隆汇1月8日丨大昌行集团(01828.HK)公布，有关私有化事项，认许该计划及根据公司条例第229条确 认股本削减的高等法院命令的副本，及会议记录以及载有公司条例第230条所规定资料之申报表已于 2020年1月7日(星期二)获公司注册处处长登记。 ...

格隆汇12月20日丨大昌行集团(01828.HK)公布，有关公司私有化，于2019年12月19日(星期四)，批准该 计划的决议案于法院会议上根据公司条例及收购守则的规定获计划股东批准。于2019年12月19日(星期 四)，特别决议案于股东大会上获股东批准。 待该计划生效后，股份于联交所之上市地位预期于2020年1月10日(星期五)上午九时正起撤销。公司已 根据上市规则第6.15(2)条向联交所申请撤销股份于联交所的上市地位，惟须待该计划获高等法院正式批 准及所有其他条件已达成或获豁免(如适用)后，方可作实。 ...

集团内涵价值增加8%至63.8亿美元，内涵价值营运利润同比增长77%至8.37亿美元，主要归因于强劲的 新业务和营运差异的显著改善。公司也展现了开支纪律，并实现了开支节余。 富卫集团公布2025年中期业绩，新增业务销售额达12.46亿美元，同比增长38%；新业务合约服务边际 增长34%至7.94亿美元；新业务价值增长21%至5.06亿美元。 整体盈利能力提升，税后营运利润增长9%至2.51亿美元，净利润4700万美元，创下采用国际财务报告 准则第17号以来的中期业绩新高。增长得益于四大业务分部的持续贡献、可预测的合约服务边际摊销以 及营运差异和假设的改善。 ...

Core Viewpoint - FWD Group reported a significant increase in new business sales and profitability for the first half of 2025, demonstrating successful execution of a customer-centric strategy in the Asian market [1][2] Financial Performance - New business sales reached $1.246 billion, a 38% increase compared to 2024 [1] - New business contract service margin amounted to $794 million, reflecting a 34% year-on-year growth [1] - Net profit reached $47 million, marking a new high since the adoption of IFRS 17 [1][2] - Tax-adjusted operating profit grew by 9% to $251 million, driven by positive contributions from four regional business segments [1][2] Value Creation - Comprehensive tangible equity increased by 8% to $8.15 billion [1] - Embedded value rose by 8% to $6.38 billion, indicating value creation for shareholders in the first half of 2025 [1] - Embedded value operating profit was $837 million, a 77% increase compared to the same period in 2024, attributed to strong new business and operational improvements [1]

Financial Performance - FWD Group reported a new high in interim results for the six months ended June 30, 2025, with new business sales increasing by 38% year-on-year to $1,246 million[6]. - The operating profit after tax grew by 9% to $251 million, with significant contributions from regions including Hong Kong, Macau, Thailand, Cambodia, and Japan[6]. - Net profit reached $47 million, marking a new high since the adoption of IFRS 17[6]. - The intrinsic value of the group rose by 8% to $6,380 million, reflecting value creation for shareholders[6]. - Comprehensive tangible equity increased by 8% to $8,150 million, while the group's intrinsic value rose by 8% to $6,380 million[15]. - The net investment performance for the first half of 2025 was $135 million, a decrease of $30 million compared to the previous year, primarily due to changes in asset allocation[41]. - The company reported a significant increase in net profit after tax to $47 million for the six months ended June 30, 2025, compared to $3 million in the same period of 2024[49]. - The total comprehensive income for the period was a loss of $607 million, reflecting a significant decrease compared to previous periods[185]. - The company reported a net loss attributable to shareholders of $1.615 billion, highlighting challenges in maintaining profitability[185]. Capital and Solvency - The solvency ratio remained strong at 283%, with generated basic free surplus increasing by over 115% to $417 million, indicating robust capital position[6]. - The leverage ratio was reported at 23.7% as of June 30, 2025, with a long-term target of 15% to 20%[27]. - The local capital solvency ratio (prescribed capital requirement basis) improved to 283% as of June 30, 2025, compared to 260% on December 31, 2024[76]. - The Tier 1 capital coverage ratio (minimum capital requirement basis) increased from 282% on December 31, 2024, to 340% as of June 30, 2025[77]. - The total free surplus increased to $1,454 million, up from $668 million as of December 31, 2024, representing a growth of 118%[73]. Business Growth and Strategy - The company launched a new yen-denominated annuity product in Japan, marking its entry into the savings and retirement market[7]. - FWD Group's multi-channel distribution strategy continues to drive product innovation, including the development of index-linked universal life insurance products[5]. - The company launched 25 new products in the first half of 2025 to meet changing customer demands[14]. - Southeast Asia accounted for over 40% of new business sales, with seven out of ten markets located in this region[14]. - The company plans to enhance digital capabilities and distribution channels to expand its customer base in the rapidly growing Asian insurance market[18]. - The company aims to leverage partnerships with banks and insurance brokers to provide tailored product solutions for high-net-worth individuals and affluent customers[100]. Customer Satisfaction and Market Position - Customer satisfaction metrics remain high, with 92% of customers rating their insurance experience as "good" or "very good"[8]. - The net promoter score for claims service was +63, indicating strong customer satisfaction with service quality[12]. - The company maintains a leading position in the Thai market through its exclusive bancassurance partnership with Kasikorn Bank[7]. - The market share of new business sales in Thailand reached 15% as of June 30, 2025, indicating a strong position in the market[104]. Investment and Financial Management - The company’s total investment return was $974 million for the six months ended June 30, 2025, slightly down from $997 million in the same period of 2024[46]. - The fair value change of debt securities amounted to $1,141 million, offset by net financial expenses of $973 million related to insurance and reinsurance contracts[60]. - The company incurred listing expenses of $7 million during the reporting period, with $6 million recognized in the income statement[196]. - The company received $649 million in interest income, slightly up from $630 million in the same period last year[189]. IPO and Future Plans - FWD Group completed its IPO in July 2025, raising a total of HKD 3,611 million (approximately $466 million)[6]. - The company has committed to using the net proceeds from the IPO as disclosed in the prospectus, with no plans to deviate from the stated uses[94]. - The company has not declared any interim dividends for the six months ended June 30, 2025[93]. - The company plans to focus on expanding its market presence and enhancing product offerings in the upcoming quarters[185]. Employee and Organizational Development - The group employed 6,859 employees as of June 30, 2025, with a focus on employee development and training[82]. - The company has established a Talent Marketplace to enhance internal job mobility and promotion opportunities[83]. - The company launched a GenAI Hub to support employees in enhancing key skills and knowledge related to generative artificial intelligence[83]. Regulatory and Compliance - The independent review report confirms that the interim financial information complies with International Accounting Standard 34[176]. - The review did not identify any matters that would lead to a belief that the interim financial information was not prepared in accordance with International Accounting Standard 34[176].

Group 1 - The core viewpoint of the article highlights that FWD Group's stock price increased by over 7% following the announcement of a significant leasing agreement with Swire Properties, marking it as Hong Kong's largest office leasing deal of the year [1] - FWD Group signed a ten-year lease agreement to expand its office space at Taikoo Place, with the Dehong Building set to be renamed FWD Center as the new headquarters in Hong Kong starting January 1, 2024 [1] - FWD Group is a rapidly growing pan-Asian life insurance company founded in 2013 by Richard Li, expanding from three markets to ten, including Hong Kong, Thailand, Japan, and emerging markets such as the Philippines, Indonesia, Singapore, Vietnam, and Malaysia [1] Group 2 - The Southeast Asian market is projected to contribute approximately 50% of the new business contract service margin in 2024, indicating strong growth potential in this region [1] - According to NMG data, FWD Group ranked among the top five insurance companies and leading bank insurance companies in terms of annualized new premiums in the Southeast Asian market for 2023 [1]