2025年12月15日，A股万亿保险巨头中国平安盘中涨幅超过5%，股价创出4年多的新高，盘中市值突破 1.2万亿元。而中国平安也是每经投研院在今年7月份发布的研究报告《"A股新七舰"：寻找中国版"标普 500"之中的创新重估牛》中的龙头股之一。 每经记者｜闫峰峰 每经编辑｜吴永久 近期，在大盘持续调整的态势下，中国平安这种万亿巨头能够逆势上涨，除了其自身基本面的情况外， 也离不开两则消息的催化。 首先是政策红利的释放，保险板块整体迎来估值修复。 除了政策面和资金面的推动，中国平安能够表现强势，更多的还是在于其自身的经营与估值。2025年前 三季度，中国平安实现营业收入8329.40亿元，同比增长7.42%；实现净利润1328.56亿元，同比增长 11.47%。以12月15日中国平安中午收盘价67.09元计算，中国平安的市盈率（TTM）约为8.66倍，股息 率约为3.83%。当前A股正处于低利率环境与经济复苏预期下，具备盈利确定性与估值安全边际的龙头 更受青睐。 作为A股核心宽基指数代表，中证A500指数和标普500指数有诸多相似点，可以说是中国版的标普500指 数（详见《"A股新七舰"：寻找中国版"标普500 ...

12月15日，港股三大指数悉数回调，恒生科技指数跌逾2%，自带"科技+红利"哑铃策略的——香港大盘 30ETF（520560）随市盘整，场内价格现跌1.48%，值得关注的是，该ETF场内宽幅溢价，显示买盘资 金更为强势，或有资金逢跌进场布局！ 事实上，香港大盘30ETF（520560）此前5日连续获资金净流入，合计金额4349万元，拉长时间来看， 近20日累计吸金1.19亿元，反映资金看好港股后市表现，积极运用哑铃策略进行布局！ 细分方向来看，港股保险板块逆市活跃，中国平安一度涨近4%创阶段新高，中国人寿涨逾1%；港股消 费方面，百胜中国、安踏体育涨逾超1%，涨幅居前。另一方面，港股创新药龙头百济神州跌近7%，港 股科技龙头中芯国际、快手跌超2%，跌幅居前，拖累指数表现。 消息面上，国家金融监督管理总局发布《关于调整保险公司相关业务风险因子的通知》，进一步释放险 资入市空间。对保险公司投资沪深300指数成分股、中证红利低波动100指数成分股以及科创板股票的风 险因子进行下调。 中信建投证券表示，与2023年9月下调股票投资风险因子相比，此次调整新增了对股票持仓时间的门槛 限制，有助于引导险资强化长期投资。根据 ...

来源：新浪基金 1、港股红利方面，中金公司指出，港股股息率高于A股（以银行板块为例，港股银行板块股息率为 6.1%，高于A股银行板块的4.3%），港股投资价值或更高。 2、港股科技方面，从千问、灵光等国产大模型带动AI应用叙事美联储降息周期持续层面来看，对于港 股科技股中长期投资价值有望日益凸显。 看好港股科技但又希望降低波动？也可以关注全市场首只——香港大盘30ETF（520560）及其联接基金 【联接A（LOF）501301；联接C 006355】，自带"科技+红利"哑铃策略，一基荟萃30只港股通中资大 盘股，重仓股既有阿里巴巴、腾讯控股等高弹性科技股，又囊括了建设银行、中国平安等稳健高股 息"T+0机制"交易灵活，是港股长期配置的理想底仓工具。 消息面上，国家金融监督管理总局发布《关于调整保险公司相关业务风险因子的通知》，进一步释放险 资入市空间。对保险公司投资沪深300指数成分股、中证红利低波动100指数成分股以及科创板股票的风 险因子进行下调。 中信建投证券表示，与2023年9月下调股票投资风险因子相比，此次调整新增了对股票持仓时间的门槛 限制，有助于引导险资强化长期投资。根据测算，预计合计释放最低 ...

Core Viewpoint - The insurance sector is experiencing a significant upward trend, driven by multiple factors including market recovery, favorable asset conditions, and ongoing liability transformation [1][3][4]. Group 1: Market Performance - On December 15, insurance stocks collectively rose, with China Ping An increasing by over 5%, leading the sector alongside China Life, China Pacific Insurance, and New China Life [3][4]. - Year-to-date performance shows substantial gains for insurance stocks, with New China Life up over 45%, China Ping An up over 33%, China Pacific Insurance up over 19%, and China Life up over 12% [5]. Group 2: Regulatory and Policy Support - Recent favorable policies include a joint notice from the Ministry of Commerce, the People's Bank of China, and the financial regulatory authority aimed at boosting consumption through the development of various insurance products [3][4]. - The adjustment of risk factors for insurance companies' holdings in certain indices is expected to alleviate solvency pressures and encourage long-term investments in the stock market [4]. Group 3: Future Outlook - Analysts predict that insurance stocks may enter a prolonged bull market, contingent on overall market conditions and increased investment returns [5][6]. - International investment banks and domestic brokerages have recently issued "buy" and "overweight" ratings for several insurance stocks, indicating positive sentiment towards the sector's growth potential [6].

12月15日，港股三大指数悉数回调，恒生科技指数跌逾2%，自带"科技+红利"哑铃策略的——香港大盘 30ETF（520560）随市盘整，场内价格现跌1.48%，值得关注的是，该ETF场内宽幅溢价，显示买盘资 金更为强势，或有资金逢跌进场布局！ 中信建投证券表示，与2023年9月下调股票投资风险因子相比，此次调整新增了对股票持仓时间的门槛 限制，有助于引导险资强化长期投资。根据测算，预计合计释放最低资本约198亿元，若全部用于增配 股票，则可能带来约726亿元的增量资金。 展望后市，调整后的港股性价比更优，科技和红利方向均有机会，核心资产的中长期配置价值值得重点 关注。配置上，广发证券建议采用哑铃策略，港股稳定价值类资产作为底仓长期配置，港股景气成长类 资产的产业逻辑依然坚实，震荡中孕育机会： 1、港股红利方面，中金公司指出，港股股息率高于A股（以银行板块为例，港股银行板块股息率为 6.1%，高于A股银行板块的4.3%），港股投资价值或更高。 2、港股科技方面，从千问、灵光等国产大模型带动AI应用叙事和美联储降息周期持续层面来看，对于 港股科技股中长期投资价值有望日益凸显。 看好港股科技但又希望降低波动？也可以 ...

2025年12月11-12日，"落实健康优先发展战略 共担健康管理主体责任"全国防控重大慢病创新融合试点项目暨高质量职场健康管理先行试点2025年工作经验 交流及学习大会在京隆重召开。政企学研各界代表齐聚一堂，围绕健康管理政策落地、行业实践升级展开多维度深度研讨。 跨界交流与协作：多方共探健康职场服务新范式 平安集团党委副书记、副总经理黄宝新、中国平安财产保险股份有限公司总部团体事业群健康险业务负责人曹敬之、平安健康互联网股份有限公司（以下简 称：平安好医生）党委书记、副总经理苏东应邀参会。 从理论到实践：专业视角锚定健康管理发展前景 在政策与学术层面，国家卫生健康委职业健康司原副司长、一级巡视员王建冬、中华医学会副会长王健等多位重量级嘉宾发表致辞，从政策导向与行业发展 角度分享了对健康管理工作的思考与建议。中国科学院院士陈润生、房建成等专家带来前沿技术分享，引发广泛关注。 在实践层面，全国防控重大慢病创新融合试点项目管委会秘书长、高质量职场健康管理先行试点工作委员会秘书长王占山详细介绍了试点工作推进经验及成 果，强调企业应将健康管理纳入发展战略，构建可推广的健康管理范式。 国家卫生健康委员会副主任沈洪兵等领 ...

Group 1 - The A-share market experienced a narrow fluctuation today, with insurance stocks leading the market gains, particularly China Ping An, which reached a nearly four-year high [1][6][10] - The non-bank financial sector led the market with a rise of over 2%, driven by significant increases in multiple insurance stocks, including China Ping An, which surged nearly 5% [6][10] - Other insurance companies also saw substantial gains, with China Pacific Insurance rising 4% and both New China Life and China Life Insurance increasing by over 3% [8][10] Group 2 - The recent strong performance of insurance stocks in the A-share market is attributed to a notification from the National Financial Regulatory Administration, which adjusted risk factors for insurance companies' related business [10] - The adjustments included a reduction in risk factors for stocks held longer than three years, which is expected to release approximately 19.8 billion yuan in minimum capital, potentially leading to an additional 72.6 billion yuan in stock investments [10][11] - Other sectors such as retail, agriculture, and steel also showed strong performance, while electronics, media, and communications sectors lagged [11]

二、平安产险宁夏分公司应按照有关规定及时办理变更及许可证换领事宜。 一、同意平安产险宁夏分公司同心支公司将营业场所变更为宁夏吴忠市同心县秀水花园S1号楼106铺一 二层、107铺一层。 2025年12月10日，吴忠金融监管分局发布批复称，《平安产险宁夏分公司关于平安产险宁夏分公司同心 支公司变更营业场所的请示》（平保产宁分发宁发〔2025〕144号）收悉。经审核，现批复如下： ...

Market Overview - The Shanghai Composite Index opened lower but rebounded during the session, while the ChiNext Index fell over 1%. The total trading volume in the Shanghai and Shenzhen markets was 1.18 trillion yuan, a decrease of 52.9 billion yuan from the previous trading day. Nearly 2,700 stocks rose across the market [1][13] - The insurance sector saw significant gains, with China Ping An rising nearly 5%, reaching a four-year high. Other sectors such as consumer goods, including dairy and liquor, also performed strongly, with stocks like Sunshine Dairy and Huangtai Liquor hitting the daily limit [1][2][4] Insurance Sector - The insurance sector led the market with a 1.61% increase, driven by China Ping An's 4.98% rise, China Pacific Insurance's 4.00% increase, and China Life's 3.39% gain. The Financial Regulatory Authority recently adjusted risk factors for insurance companies investing in certain indices, which positively impacted the sector [2][3] - The outlook for the life insurance industry is optimistic, with expectations of a return to a golden development period by 2026, shifting the investment logic from seeking revaluation of existing businesses to valuing growth potential [4] Consumer Goods Sector - The consumer goods sector showed strong performance, particularly in dairy and liquor, with stocks like Happy Family and Huangshi Group hitting the daily limit. The overall sentiment in the food and beverage sector is positive, with expectations of a demand turning point by 2026 [4][8] - Retail stocks also performed well, with Baida Group achieving three consecutive daily limits, indicating strong market interest in retail [8][10] Economic Data - According to the National Bureau of Statistics, the total retail sales of consumer goods in November reached 43.898 billion yuan, a year-on-year increase of 1.3%. Excluding automobiles, retail sales grew by 2.5%. For the first eleven months, retail sales totaled 456.067 billion yuan, up 4.0% [32] - The industrial added value for large-scale enterprises in November increased by 4.8% year-on-year, with a month-on-month growth of 0.44% [32]

一、【早盘盘面回顾】 智通财经12月15日讯，沪指低开高走，盘中一度翻红，创业板指跌超1%。沪深两市半日成交额1.18万亿，较上个交易日缩量529亿。盘面上热点快速轮动， 全市场近2700只个股上涨。从板块来看，保险板块大涨，中国平安涨近5%创4年多新高。大消费方向走强，其中乳业概念快速拉升，阳光乳业涨停；白酒概 念开盘活跃，皇台酒业涨停；零售表现强势，百大集团3连板。商业航天概念延续活跃，华菱线缆、中超控股双双3连板。下跌方面，算力硬件概念集体下 挫，长飞光纤触及跌停。截至收盘，沪指跌0.11%，深成指跌0.71%，创业板指跌1.29%。 个股来看，今日早盘涨停数量为50家（不包括ST及未开板新股），封板率为67%，连板股数量为12家，法尔胜、华菱线缆、中超控股、雪人集团、百大集 团、广西广电3连板，胜通能源、太阳电缆、中锐股份、航天机电、长城电工、风范股份2连板。 板块上，保险板块领涨，中国平安涨近5%创四年多新高，中国太保、新华保险、中国人保、中国人寿跟涨。消息面上，日前金融监管总局发布《关于调整 保险公司相关业务风险因子的通知》，对保险公司投资沪深300指数成分股、中证红利低波动100指数成分股以及科 ...