Core Points - The announcement from Huaxia Happiness indicates that its major shareholder, Ping An Life Insurance, along with its action-in-concert party, Ping An Asset Management, held a total of 985,729,553 shares, accounting for 25.19% of the company's total equity before the reduction plan [1] - From October 20 to October 21, 2025, Ping An Life and Ping An Asset Management reduced their holdings by 7,815,487 shares, which is 0.20% of the total equity [1] - The reduction plan period ended on November 30, 2025, as per the notice received by the company [1]

Core Viewpoint - The Shenzhen-Hong Kong Stock Connect Non-Bank Index (983053) closed at 7020.28 points on December 1, experiencing a decline of 0.35% with a trading volume of 20.159 billion yuan and a turnover rate of 0.54% [1] Group 1: Index Performance - On the same day, 34 constituent stocks rose, with Changjiang Securities leading with a 2.27% increase, while 20 stocks fell, with Haide Shares leading the decline at 9.97% [1] - The top ten constituent stocks of the Shenzhen-Hong Kong Stock Connect Non-Bank Index are detailed, with AIA Group holding the highest weight at 15.43% and a latest price of 73.16 yuan, despite a slight decrease of 0.12% [1] Group 2: Market Capitalization - The total market capitalization of the top ten stocks ranges from 1.609 billion yuan for Guangfa Securities to 7,684.63 billion yuan for AIA Group, indicating significant variations in company sizes within the index [1] Group 3: Capital Flow - The net outflow of main funds from the index's constituent stocks totaled 1.288 billion yuan, while retail investors saw a net inflow of 1.046 billion yuan, indicating differing investor behaviors [1] - Detailed capital flow data shows that Bohai Leasing had a net inflow of 36.79 million yuan from main funds, while Changjiang Securities experienced a net outflow of 13.50 million yuan [2]

Core Viewpoint - The "2025 China Securities Industry Anti-Fraud Health Run" organized by Ping An Securities successfully combined fitness activities with public awareness of investment risks, attracting nearly 10,000 participants across 297 cities in China [1][2]. Group 1: Event Overview - The event ran from November 1 to 21, 2023, with the theme "Every Step is Safe, Stay Away from Fraud" and aimed to enhance public awareness of investment risk prevention [1]. - The online health run utilized the "Digital Heartbeat APP," allowing for broad participation and engagement, with a total of 72,099 page views and 7,207 online registrations [1][2]. - The completion rate of the online event was close to 90%, with 6,340 finishers and a total running distance exceeding 52,000 kilometers [2]. Group 2: Educational Focus - The campaign emphasized the importance of recognizing and avoiding illegal stock recommendations, warning against AI stock tips, disguised identities, and fraudulent training schemes [2][5]. - The event served as a platform for financial education, effectively increasing participants' awareness of financial fraud and investment risks [7]. Group 3: Community Engagement - The activities were widely conducted across 31 provinces and municipalities, engaging thousands of employees and investors in various locations, showcasing the community's active participation [5][9]. - Participants shared their experiences through video blogs, contributing to a total of 1,087 shares, which helped spread anti-fraud knowledge in an engaging manner [2][5]. Group 4: Future Initiatives - Ping An Securities plans to continue exploring diverse and grassroots promotional methods for ongoing anti-fraud education, aiming to strengthen financial security and protect investors' interests [9].

Core Insights - Ping An Health Insurance has launched the upgraded "Ping An e-Secure Health Insurance 2026 Flagship Version," marking the 10th anniversary of the product series, featuring innovations such as "zero deductible," expanded coverage for cancer specialty drugs, and an increased age limit for policyholders to 70 years old [1][4] Group 1: Product Features - The new product introduces "zero deductible," allowing for 50% reimbursement for hospital expenses up to 10,000 yuan and 100% reimbursement for amounts exceeding that, along with 100% coverage for 120 specific critical illnesses [2][3] - Coverage limits have been increased to 6 million yuan, and the number of cancer specialty drugs has expanded from 212 to 298, including 7 CAR-T therapies and various targeted and innovative drugs [3] - The product now includes a new service for allergy source detection in children, enhancing preventive health measures for families [3] Group 2: Market Impact - Since its inception in 2016, the Ping An e-Secure series has provided health coverage to over 23.9 million customers, with total claims exceeding 17 billion yuan, demonstrating its significant impact on family health security [5][6] - The product aims to address the increasing demand for diverse health insurance solutions, particularly in light of rising healthcare costs and the aging population [4][6] - The company continues to innovate and adapt its offerings to meet customer needs, positioning itself as a leader in the affordable health insurance market [5][6]

Core Viewpoint - The article emphasizes the necessity of proactive planning for elderly care, highlighting the changing dynamics of aging populations and the importance of integrating financial and service solutions for sustainable retirement living [2][5][10]. Group 1: Generational Differences - The current elderly population has different needs compared to previous generations, focusing on quality of life, health management, and personal fulfillment rather than just basic needs [5][8]. - By 2024, the average life expectancy in China is projected to reach 79 years, reflecting significant improvements in living conditions and health status for the elderly [6][8]. Group 2: Population Structure Changes - By the end of 2024, the population aged 60 and above in China is expected to reach 310 million, accounting for 22% of the total population, with a rapid increase in the elderly demographic anticipated until 2035 [10][13]. - The aging population is compounded by declining birth rates, with only 9.02 million births in 2023, a decrease of approximately 40% from five years prior [13]. Group 3: Pain Points and Service Gaps - Current elderly care products and services exhibit significant limitations, including inflexible pension plans, low transparency in community services, and high barriers to digital health solutions [16][18]. - A survey indicates that over 80% of the pre-retirement population (ages 45-60) have not completed their retirement savings, primarily relying on bank deposits [18][19]. Group 4: Trust as a Key Solution - Trusts are emerging as a viable tool for elderly care, offering long-term financial management and service integration that traditional products cannot provide [21][22]. - Trusts can consolidate assets from various channels, ensuring funds are used according to predetermined rules, thus safeguarding against misuse and ensuring continuity in care [22][23]. Group 5: Market Response and Innovations - Ping An Trust is responding to the evolving market by integrating insurance, trust, and elderly care services into a comprehensive solution, aiming to create a seamless connection between financial resources and care services [25][27]. - The new model includes features such as asset isolation for financial security, flexible wealth transfer arrangements, direct payment for services, and a holistic service ecosystem [27][30]. Group 6: Competitive Advantages - Ping An Trust's strength lies in its ability to integrate various financial and health management resources, providing a reliable and sustainable model for elderly care [34][35]. - The recent emphasis on elderly finance by the central government marks a pivotal moment for the industry, positioning Ping An Trust as a leader in developing innovative solutions for the aging population [35].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中国平安保险（集团）股份有限公司 呈交日期: 2025年12月1日 I. 法定/註冊股本變動 | 1. 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 (如上市) | 601318 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,660,065,083 | RMB | | | 1 RMB | | 10,660,065,083 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 10,660,065,083 | RMB | | | 1 RMB | | 10,660,065,083 | ...

I. 法定/註冊股本變動 | 1. 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 (如上市) | 601318 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,660,065,083 | RMB | | | 1 RMB | | 10,660,065,083 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 10,660,065,083 | RMB | | | 1 RMB | | 10,660,065,083 | | 2. 股份分類 | 普通股 | | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ...

Core Insights - The article discusses the launch of a new personal pension insurance product, "Shengshi Youxiang (2026) Pension Annuity Insurance (Dividend Type)," by Ping An Life to address the challenges posed by an aging population and to enhance the supply of pension insurance products [1][3] Group 1: Product Features - "Shengshi Youxiang Red 26" offers multiple payment options and allows for scheduled payouts, providing clients with a solution that emphasizes both immediate savings and future peace of mind [1][3] - The product supports nine flexible payment periods, allowing customers to choose based on their financial situation and retirement plans [3][8] Group 2: Market Context - The ongoing aging of the population in China has significantly increased the demand for pension products, leading to a more diversified and market-oriented pension system [1][2] - The personal pension system, introduced in 2022, has gained popularity, with over 70 million accounts opened by the end of November 2024, indicating strong public interest in pension financial products [2] Group 3: Tax Benefits - Contributions to personal pension accounts are tax-deductible up to 12,000 yuan per year, and the income received from these pensions is taxed at a lower rate of 3%, enhancing retirees' income levels [5][9] - For example, an individual with a pre-tax income of 500,000 yuan can benefit from significant tax savings during the contribution phase [5][9] Group 4: Additional Services - The product includes access to Ping An's "Zhenxiang Family Doctor" service, which offers comprehensive health management for the insured and their family members [6][7] - This service allows one policyholder to cover up to three family members, providing personalized medical management and 24/7 support from experienced medical professionals [7][10] Group 5: Long-term Commitment - Ping An Life emphasizes its commitment to enhancing the pension insurance market by continuously improving product offerings and integrating services to meet customer needs [6][10] - The company aims to provide high-quality pension financial services that are time-efficient and cost-effective for clients [6][10]

Core Insights - The article discusses the launch of a new personal pension insurance product, "Shengshi Youxiang (2026) Pension Annuity Insurance (Dividend Type)," by Ping An Life to address the challenges posed by an aging population and to enhance the supply of pension insurance products [1][3] Group 1: Product Overview - "Shengshi Youxiang Red 26" offers multiple payment options and provides tax-deferred benefits, aiming to deliver a comprehensive pension solution that is cost-effective now and stress-free in the future [1][3] - The product is designed to meet the growing demand for retirement solutions as China transitions to a more diversified and market-oriented pension system [1][2] Group 2: Market Context - The personal pension system, introduced in 2022, has gained popularity, with over 70 million accounts opened by the end of November 2024, indicating strong public interest in pension financial products [2] - The system operates on a personal account basis, where contributions are fully borne by participants, emphasizing the importance of individual responsibility in retirement planning [2] Group 3: Financial Benefits - The product allows for flexible payment terms, with options for clients to choose based on their financial situation and retirement plans, ensuring stable annuity payments post-retirement [3][4] - Tax benefits are significant, with contributions up to 12,000 yuan per year being deductible from taxable income, and pension withdrawals taxed at a lower rate, enhancing retirees' income levels [5][9] Group 4: Additional Services - The product includes access to Ping An's comprehensive health management services, allowing policyholders to benefit from family health management solutions when combined with other health insurance products [6][7] - The family doctor service offers personalized medical management for family members, enhancing the overall value proposition of the insurance product [7]

同时，该产品还全面升级了保险保障责任及医疗健康服务，为客户构筑覆盖全生命周期的健康保障网。据了解，此次新产 品保障额度升级至600万元，保障范围持续扩大，院外恶性肿瘤特药种类从212种扩至298种，涵盖7款CAR-T疗法及多种靶向 药、创新药，同时新增85种恶性肿瘤—重度临床急需进口药，质重医院再度扩展至11家，将更多优质医疗新技术、新药品、新 器械应用纳入保障范围，为客户应对重大疾病提供更加从容的兜底保障。 （编辑 张伟） 此次平安健康险新推出的百万医疗险产品实现"零免赔"的创新升级：对一般医疗住院1万元及以下部分按50%比例赔付、1 万元以上部分100%赔付，对120种特定疾病（即重疾）住院100%赔付；对院外药品和院外药械首次升级为不限疾病的0免赔、 赔付限额由5万元上调至100万元。这一升级将传统百万医疗险从"低频使用"的保障工具转化为更加"高频实用"的日常支付工 具，进一步增强百姓对创新药品药械的可及性，大幅提升客户的获得感。 本报讯 （记者冷翠华）平安健康保险股份有限公司（以下简称"平安健康险"）近日升级推出"平安e生保·百万医疗2026旗 舰版"。本次产品升级创新推出"零免赔"、肿瘤特药种类扩展 ...