格隆汇10月16日丨中国太保(02601.HK)公告，于2025年1月1日至2025年9月30日期间，中国太平洋保险 (集团)股份有限公司子公司中国太平洋人寿保险股份有限公司累计原保险保费收入为人民币2324.36亿 元，同比增长10.9%，公司子公司中国太平洋财产保险股份有限公司累计原保险保费收入为人民币 1599.55亿元，同比增长0.1%。 ...

Core Viewpoint - China Pacific Insurance (Group) Co., Ltd. reported a significant increase in insurance premium income for its subsidiaries during the specified period, indicating a positive growth trend in the insurance sector [1] Group 1: Insurance Premium Income - China Pacific Life Insurance Co., Ltd. achieved a cumulative original insurance premium income of RMB 232.436 billion from January 1, 2025, to September 30, 2025, representing a year-on-year growth of 10.9% [1] - China Pacific Property Insurance Co., Ltd. recorded a cumulative original insurance premium income of RMB 159.955 billion during the same period, with a marginal year-on-year growth of 0.1% [1]

Group 1 - China Pacific Insurance (Group) Co., Ltd. announced that its subsidiary, China Pacific Life Insurance Co., Ltd., achieved a cumulative original insurance premium income of RMB 232.436 billion from January 1, 2025, to September 30, 2025, representing a year-on-year growth of 10.9% [1] - The company's other subsidiary, China Pacific Property Insurance Co., Ltd., reported a cumulative original insurance premium income of RMB 159.955 billion during the same period, with a slight year-on-year increase of 0.1% [1]

格隆汇10月16日丨中国太保(02601.HK)公告，谨定于2025年10月30日(星期四)举行董事会会议，以审议 及批准公司截至2025年9月30日止九个月之第三季度业绩及其发布，并处理其他有关事项。 ...

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。 董事長 香 港，2025年10月17日 中國太平洋保險（集團）股份有限公司 CHINA PACIFIC INSURANCE (GROUP) CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號：02601） 於2025年1月1日 至2025年9月30日 期 間，中 國 太 平 洋 保 險（集 團）股 份 有 限 公 司（「本公司」）子 公 司 中 國 太 平 洋 人 壽 保 險 股 份 有 限 公 司 累 計 原 保 險 保費收入為人民幣2,324.36億 元，同 比 增 長10.9%，本 公 司 子 公 司 中 國 太 平洋財產保險股份有限公司累計原保險保費收入為人民幣1,599.55億 元， 同比增長0.1%。 上 述 累 計 原 保 險 保 費 收 入 數 據 未 經 審 計，提 請 投 資 者 注 意。 特 ...

承董事會命 中 國 太 平 洋 保 險（集 團）股 份 有 限 公 司 傅 帆 董事長 香 港，2025年10月16日 中國太平洋保險（集團）股份有限公司 CHINA PACIFIC INSURANCE (GROUP) CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號：02601） 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份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。 董事會會議通知 中 國 太 平 洋 保 險（集 團）股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）茲 通 告謹定於2025年10月30日（星 期 四）舉 行 董 事 會 會 議，以 審 議 及 批 准 本 公 司截至2025年9月30日 止 九 個 月 之 第 三 季 度 業 績 及 其 發 佈，並 處 理 其 他 有 關 事 項。 於 本 公 告 日 期，本 公 司 執 行 董 事 為 傅 帆 先 生 和 趙 永 剛 ...

证券代码：601601 证券简称：中国太保 公告编号：2025-057 重要提示 2025 年 10 月 17 日 注： 1、原保险保费收入数据根据中华人民共和国财政部《企业会计准则第 25 号—原保险合同》（财会〔2006〕 3 号）及《保险合同相关会计处理规定》（财会〔2009〕15 号）编制。 2、中国太平洋财产保险股份有限公司累计原保险保费收入为包含其子公司太平洋安信农业保险股份有限公 司的合并数据。 中国太平洋保险（集团）股份有限公司 保费收入公告 于 2025 年 1 月 1 日至 2025 年 9 月 30 日期间，本公司子公司中国 太平洋人寿保险股份有限公司累计原保险保费收入为人民币 2,324.36 亿元，同比增长 10.9%，本公司子公司中国太平洋财产保险股份有限 公司累计原保险保费收入为人民币 1,599.55 亿元，同比增长 0.1%。 上述累计原保险保费收入数据未经审计，提请投资者注意。 特此公告。 中国太平洋保险（集团）股份有限公司董事会 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。 ...

Core Viewpoint - The recent adjustment in the regulatory responsibilities of insurance institutions in China indicates a shift towards localized supervision, with a significant increase in the number of insurance entities under local regulatory bodies, while the Financial Regulatory Authority focuses primarily on insurance groups and their subsidiaries [1][2][3]. Group 1: Regulatory Changes - As of June 30, 2025, the number of insurance entities regulated by the Financial Regulatory Authority decreased from 116 to 65, primarily focusing on insurance groups and their subsidiaries [2]. - The adjustment reflects a broader trend of localizing regulatory responsibilities, with local regulatory bodies now overseeing a larger number of insurance institutions [4][5]. - The Financial Regulatory Authority convened a special meeting with local regulatory agencies to discuss these changes [1]. Group 2: Impact on Local Regulatory Bodies - Local regulatory bodies, particularly in major cities like Beijing and Shanghai, have seen a significant increase in the number of insurance entities they oversee, with Beijing's count rising from 24 to 39 and Shanghai's from 24 to 36 [4][5]. - The increase in regulatory responsibilities has led to heightened pressure on local regulatory bodies, necessitating stronger management accountability from insurance company executives [5]. Group 3: Specific Changes in Insurance Institutions - The total number of insurance institutions listed as of June 30, 2025, is 238, a decrease of one from the end of 2024, with notable changes including the removal of Tianan Insurance and the addition of Suzhou Dongwu Insurance [6]. - Several types of insurance institutions, such as insurance asset management companies and health insurance companies, have shifted from being regulated by the Financial Regulatory Authority to local regulatory bodies [6][7]. - A total of 21 out of 35 insurance asset management companies have transitioned to local regulatory oversight, while 14 remain under the Financial Regulatory Authority [7].

Investment Rating - The investment rating for the non-bank financial industry is "Positive" (first-time rating) [4] Core Viewpoints - The non-bank financial sector has underperformed compared to the overall A-share market, with a year-to-date increase of 10.6% as of October 14, 2025, while the Wind All A Index has grown by 23.5%. However, the sector is expected to present investment opportunities driven by performance and changes in market preferences [4] - Strong third-quarter earnings expectations are anticipated to drive valuation growth, particularly in the insurance sector, where companies like New China Life Insurance are expected to see a net profit increase of 45%-65% year-on-year [5][6] - The report highlights a relative "mismatch" between performance and valuation, suggesting that the insurance companies' equity holdings have significantly increased, which will positively impact their investment income and net profit [5][6] Summary by Sections Insurance Sector - New China Life Insurance's net profit for the first three quarters of 2025 is expected to grow by 45%-65% compared to the same period in 2024, exceeding market expectations [6] - Major insurance companies have seen substantial growth in their equity holdings, with China Life, Ping An, and China Pacific's equity and equity fund holdings increasing significantly from June 2024 to June 2025 [6][9] - The PEV valuation points for China Life, Ping An, and China Pacific are at 45.2%, 56.3%, and 62.1% respectively, indicating potential for further valuation improvement supported by regulatory policies and market conditions [6][9] Brokerage Sector - The brokerage sector is expected to benefit from an active equity capital market in Q3 2025, with a 213% year-on-year increase in average daily trading volume and a 56% increase in average margin financing balance [7] - The current PB ratio for the brokerage industry is approximately 1.42 times, which is at the 61% percentile since 2020, indicating a favorable valuation environment [7] Market Preference Changes - Increased global political and economic uncertainties may lead to a shift from high-valuation to lower-valuation sectors, with the financial industry potentially serving as a medium for such transitions [8] - Historical performance indicates that the non-bank financial sector has shown strong performance during periods of rising risk appetite, suggesting a potential rebound in the near future [8]

Group 1 - The core viewpoint of the article highlights the launch of the G-FIRST 2.0 program by Bank of China, China Pacific Insurance, and Guotai Junan Securities, aimed at enhancing cross-border financial cooperation for Chinese enterprises [1][3] - The G-FIRST 2.0 initiative is designed to provide comprehensive support for Chinese companies seeking to expand globally, ensuring a seamless connection to international markets [1] - The event took place at the 2025 Shanghai Global Asset Management Forum, indicating a significant platform for discussing advancements in asset management and financial services [1]