证券代码：601601 证券简称：中国太保 公告编号：2025-044 重要提示 本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。 中国太平洋保险（集团）股份有限公司 第十届董事会第十六次会议决议公告 本公司第十届董事会第十六次会议通知于 2025 年 8 月 14 日以书面方式发出， 并于 2025 年 8 月 28 日在上海召开。会议由傅帆董事长主持。应出席会议的董事 书列席了会议。本次董事会会议出席人数符合法定人数要求，会议召开符合《公 司法》及《公司章程》的有关规定。 经与会董事审议并现场表决，形成以下会议决议： 一、审议并通过了《关于 <中国太平洋保险 ensp="ensp" 年="年" 股份有限公司="股份有限公司" 集团 ="集团"> 半年度报告>的议案》 本公司董事会审计与关联交易控制委员会已审核通过该项议案。 表决结果：赞成 13 票，反对 0 票，弃权 0 票。 二、审议并通过了《关于中国太平洋保险（集团）股份有限公司 H 股 2025 年中期初步业绩公告的议案》 表决结果：赞成 13 票，反对 0 票，弃权 ...

半年报数据显示，中国太保（601601.SH；02601.HK）上半年归母净利润同比提升11.0%，营运利润提 升7.1%。 "经济长期向好的支撑条件和基本趋势没有改变，中国保险业正处于高质量发展的战略机遇期。"中国太 保总裁赵永刚在8月29日下午的半年业绩发布会上表示。在回答第一财经记者提问时，他用了稳健增长 来形容今年上半年的公司经营业绩。 事实上，稳健也一直是中国太保给外界的印象。在业绩发布会上，管理层亦用了至少14次"稳健"这个 词。 那么如何在低利率环境等复杂市场挑战下实现稳健增长？中国太保管理层在业绩发布会上从盈利、投资 等多个方面做出解答。 预计全年营运利润稳健增长 与一季度归母净利润同比下降18.1%相比，上半年末，中国太保归母净利润转变为正增长11%，显然二 季度的利润增速明显提升。 半年报数据显示，中国太保总投资收益率（投资收益率指标均未年化，下同）为2.3%，综合投资收益 率为2.4%，同比分别下降0.4个百分点和0.6个百分点。 今年上半年，上市险企均收获了不错的半年成绩单，中国太保也不例外。 下，中国太保拓展了多元化的投资渠道，把握港股市场的投资机会，结合股息价值策略，对于净利润的 ...

Core Viewpoint - China Pacific Insurance (601601.SH) aims to enhance its dividend insurance proportion and pursue three major strategies: health and wellness, internationalization, and "AI+" to improve service quality and operational efficiency [1][4]. Financial Performance - In the first half of 2025, China Pacific Insurance reported total revenue of approximately 200.5 billion yuan, a year-on-year increase of 3% [1]. - Insurance service revenue reached 141.8 billion yuan, growing by 3.5% year-on-year [1]. - The group's net profit attributable to shareholders was approximately 27.9 billion yuan, reflecting an 11% year-on-year increase [1]. - As of June 30, total assets were about 3.03 trillion yuan, up 6.9% from the beginning of the year, while net assets decreased by 3.3% to 281.9 billion yuan [1]. Dividend Insurance Strategy - In the first half of 2025, the scale of dividend insurance premiums reached 10.1 billion yuan, showing significant growth [2]. - The proportion of new premium income from dividend insurance increased to 42.5%, particularly notable since the second quarter [2]. - The company is implementing four key measures to promote the structural transformation of dividend insurance: reinforcing the concept of transformation, differentiated channel strategies, regional differentiation, and enhanced policy guidance [3]. Interest Rate Adjustments - The recent adjustment of predetermined interest rates presents both opportunities and challenges for dividend insurance, with the new rate set at 1.75% [4]. - The adjustment is expected to reduce the short-term competitiveness of products but may enhance the relative advantages of dividend insurance over traditional insurance, promoting overall business structure optimization [4]. AI Strategy - China Pacific Insurance has initiated the "AI+" strategy to leverage technology for improving operational efficiency and exploring new business growth points [5]. - The company has established a stable and efficient AI infrastructure, with over 70 AI applications in development and an expected completion of 2,700 digital equivalent labor forces by the end of the year [5][6]. - AI is expected to enhance user experience, improve team productivity, and empower risk control across various operational areas [6]. Investment Strategy - The company is focusing on long-term equity asset allocation, while also exploring innovative asset classes such as private equity funds and gold [7]. - China Pacific Insurance emphasizes a dividend value strategy in equity asset allocation and is continuously optimizing its investment portfolio in response to market changes [7].

Core Insights - China Pacific Insurance (601601.SH) reported a total revenue of approximately 200.5 billion yuan for the first half of 2025, representing a year-on-year growth of 3% [1] - The group's net profit attributable to shareholders reached about 27.9 billion yuan, an increase of 11% compared to the previous year [1] - The company aims to enhance value creation and implement three major strategies: health and wellness, internationalization, and "AI+" [1] Financial Performance - Total assets of China Pacific Insurance stood at approximately 3.03 trillion yuan, a growth of 6.9% from the beginning of the year [1] - Net assets decreased by 3.3% to 281.9 billion yuan as of the end of June [1] - The insurance service revenue was approximately 141.8 billion yuan, with a year-on-year increase of 3.5% [1] Business Strategy - The company is focusing on high-quality development and comprehensive reform to improve operational efficiency and service quality [1] - China Pacific Insurance is implementing four key measures to transform its dividend insurance business, including reinforcing the concept of transformation, differentiated channel strategies, regional differentiation, and enhanced policy guidance [2][3] Market Conditions - The insurance industry is facing a new round of predetermined interest rate adjustments, with the latest rate set at 1.99%, down from 2.13% [3] - The upper limit for the predetermined interest rate for ordinary life insurance products will decrease from 2.5% to 2.0%, and for dividend insurance, it will drop to 1.75% [3] - The adjustment presents both opportunities and challenges, potentially reducing short-term competitiveness while enhancing the relative advantages of dividend insurance [3] Technological Innovation - China Pacific Insurance has initiated an "AI+" strategy to leverage technology for improving operational efficiency and exploring new business growth points [4] - The company has established a robust AI infrastructure, with over 70 AI applications in development and an expected completion of 2,700 digital equivalent labor forces by the end of the year [4] - AI is expected to enhance user experience, improve team productivity, and empower risk control across various operational areas [4] Investment Strategy - The company is focusing on long-term equity asset allocation, despite short-term market volatility [5] - China Pacific Insurance is increasing its allocation to long-term interest rate bonds and innovative quality assets, including ABS and public REITs [5] - The company is also expanding its investment in alternative assets, such as private equity funds and gold, to improve the quality of insurance fund utilization [5]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 出 席 臨 時 股 東 大 會 的 股 東 及 股 東 授 權 委 託 代 表 情 況 如 下： | 出席會議的股東及委託代表人數 （家） | | 896 | | --- | --- | --- | | 其 | 中：A股股東人數 | 895 | | H股股東人數 | | 1 | | 所持有表決權的股份總數 | （股） | 5,984,459,512 | | 其 | 中：A股股東持有股份總數 | 4,679,133,871 | | H股股東持有股份總數 | | 1,305,325,641 | | 佔本公司有表決權股份總數的比例 | (%) | 62.206311 | | 其 | 中：A股股東持股佔本公司有表決權股份總數的比例 | 48.637919 | | H股股東持股佔本公司有表決權股份總數的比例 | | 13.568392 | 中國太 ...

Core Insights - China Pacific Insurance (CPIC) reported a strong performance for the first half of 2025, with double-digit growth in net profit, over 30% year-on-year growth in comparable value from new businesses, and more than a twofold increase in investment income [2][4] - The company emphasized the long-term investment value of domestic equity assets and identified more opportunities for insurance funds in equity investments [2][8] Financial Performance - As of the end of June, CPIC's total assets reached approximately 3.03 trillion yuan, a 6.9% increase from the beginning of the year [2] - Managed assets amounted to 3.77 trillion yuan, reflecting a 6.5% growth compared to the end of the previous year [2] Strategic Development - CPIC's president, Zhao Yonggang, highlighted the company's multi-channel development strategy "2+N" for life insurance, which includes individual insurance, bank insurance, and internet channels to diversify profit sources and enhance value creation [4][5] - The company reported a stable recovery in its agency workforce, with 186,000 insurance agents as of June, a 1.6% year-on-year increase [4] Channel Optimization - The company aims to optimize its agency structure and improve team management to enhance retention rates and sales conversion [5] - In the bank insurance channel, CPIC plans to build a high-quality team and focus on key urban areas while deepening relationships with partners to enhance channel resilience [5] Investment Strategy - The company’s vice president, Su Gang, stated that domestic equity assets have medium to long-term allocation value, with a focus on increasing alternative asset allocations such as ABS and public REITs [8] - CPIC continues to adopt a dividend value strategy in equity asset allocation and is exploring new business pilots, including private equity funds and gold investments [8] Strategic Initiatives - CPIC has initiated three major strategies: "Big Health and Elderly Care," "AI+," and "Internationalization," aimed at supporting high-quality development [10] - The company has established a stable AI infrastructure, with plans to enhance user experience, team productivity, and risk control through AI applications across various operational areas [10]

Regulatory Developments - The Financial Regulatory Bureau supports insurance institutions in Fujian to develop innovative insurance products covering both sides of the Taiwan Strait [1] - Three departments, including the People's Bank of China, issued a notice to explore a forest insurance product system, including index insurance, yield insurance, income insurance, and liability insurance [2] Industry Performance - In the first half of 2025, the five major listed insurance companies in A-shares achieved a total net profit of 178.19 billion yuan, a year-on-year increase of 3.7%, with New China Life Insurance showing the highest profit growth rate of 33.5% [3] - Insurance capital has increasingly invested in equity assets, with two new equity investment funds established, totaling nearly 27 billion yuan, driven by declining fixed-income asset yields and improved market conditions [4] Company Updates - China Ping An reported a net profit of 68.05 billion yuan for the first half of 2025, with a new business value growth of 39.8% [5] - China Pacific Insurance achieved a net profit of 26.53 billion yuan in the first half of 2025, a year-on-year increase of 16.9% [6] - China Life Insurance reported a net profit of 40.93 billion yuan, a year-on-year increase of 6.9%, with total assets exceeding 7 trillion yuan [7] - New China Life Insurance reported a net profit of 14.8 billion yuan, a year-on-year increase of 33.5%, with a new business value growth of 58% [9] - China Taiping achieved an insurance service performance of 11.35 billion yuan, with a significant transformation in its participating insurance business [10]

Core Insights - China Pacific Insurance (Group) Co., Ltd. reported that its premium income from new energy vehicle insurance approached 10.6 billion yuan in the first half of the year, indicating a positive overall operating situation and that the new energy vehicle insurance segment has entered a profitable phase [2] - The company’s vice president and chairman of property insurance, Yu Bin, noted that the new energy vehicles include both passenger cars and commercial vehicles, with the comprehensive cost ratio for passenger cars being relatively ideal, while the cost ratio for commercial vehicles exceeds 100% [2]

北京商报讯(记者李秀梅)8月29日，在中国太平洋保险(集团)股份有限公司(以下简称"中国太保 （601601）")2025年中期业绩会上，中国太保总裁赵永刚表示，今年以来，队伍的核心指标在持续向 好：一是，队伍规模企稳回升，从去年下半年起，总人力稳定在18万人以上。截至今年上半年末，总人 力为18.6万人，同比增长1.6%，其中13个月和25个月的留存率都得到了整体提升。二是，核心人力的人 均产能同比提升，月人均首年规模保费同比提升12.7%，也延续了增长的态势。三是，新增的人力姿态 也持续改善。今年上半年新增人力是3.9万人，同比增长19.8%，而且新人的履历背景比以往更优。四 是，中高客的经营能力持续提升。公司近几年通过打造康养财富规划师等方式，提升对中高客精准服务 能力。上半年在代理人渠道中，中客及以上的客户占比达到27.3%，同比提升了3.8个百分点。 ...

北京商报讯（记者 李秀梅）8月29日，在中国太平洋保险（集团）股份有限公司（以下简称"中国太保 （601601）"）2025年中期业绩会上，中国太保副总裁苏罡表示，低利率市场环境导致优质资产供给不 足，保险资金存在较大配置压力。当前，国内权益资产具备中长期投资价值，保险资金在权益投资领域 面临更多机会。 其他投资方面，苏罡表示，一方面公司在持续加大长期利率债的配置，合理延展固定收益资产久期，同 时也加大创新型优质资产的布局，包括ABS、公募REITs等；另一方面，稳步增加公开市场的权益资产 以及未上市股权等另类资产配置。 ...