FF301 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: 中國太平洋保險(集團)股份有限公司 呈交日期: 2025年12月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02601 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,775,300,000 | RMB | | 1 RMB | | 2,775,300,000 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 2,775,300,000 | RMB | | 1 RMB | | 2,775,300,000 | | 2. 股份分類 | 普通股 ...

Core Insights - China Pacific Insurance (CPIC) launched new high-end products and upgraded customer club rights, focusing on high-net-worth clients' core needs in wealth management, risk defense, and service enhancement [1][6] Group 1: Wealth Management and Economic Insights - Renowned economist Ma Guangyuan emphasized the importance of respecting economic cycles in wealth management, stating that the essence of wealth is cyclical and that long-term and professional investment strategies are crucial in navigating uncertainties [2] - The current wealth cycle in China is undergoing significant changes, necessitating the construction of optimal asset portfolios that include professional financial assets like insurance and banking [2] Group 2: Customer-Centric Approach - CPIC prioritizes customer needs by providing professional insurance products for family risk protection and leveraging its asset-liability management capabilities to share investment returns with clients [3] - The company has adapted to profound internal and external changes by exploring diverse customer needs and redefining its role beyond traditional insurance services, aiming to help clients achieve a "prosperous life" in the new era [3] Group 3: High-Net-Worth Client Focus - The event highlighted a shift in high-net-worth clients' core needs from "growth" to "inheritance" in wealth management and from "ownership" to "experience" in lifestyle pursuits, with a move towards personalized services [6] - CPIC introduced two new products: the Taibao Hongfu Tainian (Yuxiang Version) annuity insurance and the Taibao Shengshi Hongyun (Yuxiang Version) whole life insurance, designed to meet the stable asset growth and inheritance needs of high-net-worth families [6] - The upgraded "1+6" private rights system offers 24/7 dedicated concierge services and covers six areas: health, retirement, education, career, life, and art, providing clients with access to CPIC's quality investment ecosystem and global service resources [6]

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 FF301 致：香港交易及結算所有限公司 公司名稱: 中國太平洋保險(集團)股份有限公司 呈交日期: 2025年12月2日 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | | 股份類別 | H | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02601 | 說明 | | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | | 2,775,300,000 | | 0 | | 2,775,300,000 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 2,775,300,000 | | 0 | | 2,775,3 ...

Core Viewpoint - The insurance industry is facing significant challenges and opportunities due to the prolonged low interest rate environment, which impacts the asset-liability management strategies of insurance companies [2][4]. Group 1: Challenges and Opportunities - The low interest rate environment has led to a potential risk of interest spread loss for the life insurance sector, necessitating enhanced asset-liability management capabilities to meet internal needs and regulatory requirements [2][4]. - The "New National Ten Articles" issued by the State Council emphasizes the need for improved asset-liability linkage regulation and optimization of asset allocation structures [4]. Group 2: Asset-Liability Management Strategies - The core of asset-liability management is to allocate long-term funds to assets that can withstand shocks from interest rates, credit, and liquidity, ensuring financial goals and regulatory compliance are met [4][5]. - The traditional asset allocation strategies are no longer viable; a new approach is required to navigate the current market conditions characterized by compressed credit spreads and scarce high-quality non-standard assets [4][5]. Group 3: Principles of Asset-Liability Management - The asset-liability management should adhere to three principles: safety, profitability, and liquidity, to achieve cost-revenue matching, term structure matching, and cash flow matching [5]. - There is a need for collaboration between the asset and liability sides, with a focus on product-centric asset-liability management mechanisms [5]. Group 4: Investment Strategies - China Pacific Insurance's investment philosophy emphasizes value, long-term, and responsible investing, utilizing a "barbell" strategy to balance fixed income, public equity, and alternative assets [6]. - The company is exploring new investment areas, including proactive allocation to gold assets and gradual international expansion centered around Hong Kong [6].

一、同意撤销泰康人寿保险有限责任公司山西晋中连福营销服务部。 2025年11月26日，国家金融监督管理总局晋中监管分局发布批复称，《泰康人寿保险有限责任公司山西 晋中中心支公司关于撤销连福营销服务部的请示》（泰康晋中支发〔2025〕076号）收悉。经审核，现 批复如下： 二、接此批复文件后，泰康人寿保险有限责任公司山西晋中连福营销服务部应立即停止一切经营活动， 于15个工作日内向晋中金融监管分局缴回许可证，并按照有关法律法规要求办理相关手续。 ...

Core Viewpoint - The insurance stocks have collectively rebounded, with notable increases in share prices for major companies, indicating a positive market sentiment towards the insurance sector [1] Group 1: Stock Performance - China Pacific Insurance (02601) rose by 3.23% to HKD 31.98 - China Property & Casualty Insurance (02328) increased by 2.15% to HKD 17.55 - China Life Insurance (02628) saw a rise of 2.14% to HKD 27.7 - China People’s Insurance (01339) grew by 2.1% to HKD 6.82 [1] Group 2: Sales Targets and Product Focus - Multiple insurance companies have achieved or are close to achieving their sales targets for 2025, with a shift in focus towards preparations for 2026 - The main products being prepared for the 2026 launch are dividend-type life insurance products [1] Group 3: Market Insights - Guotai Junan released a report stating that the impact of real estate on insurance companies' asset sides is limited - There are increasing signs of recovery on the liability side, suggesting that the 2026 opening will exceed expectations - The non-bank sector is expected to see fundamental improvements, with a positive outlook on investment opportunities, particularly those benefiting from increased household funds entering the market [1]

Group 1 - The core viewpoint of the article indicates a collective rebound in insurance stocks, with notable increases in share prices for major companies such as China Pacific Insurance (up 3.23% to HKD 31.98), China Property & Casualty Insurance (up 2.15% to HKD 17.55), China Life Insurance (up 2.14% to HKD 27.7), and China Reinsurance (up 2.1% to HKD 6.82) [1] Group 2 - Multiple insurance companies have reportedly achieved or are close to achieving their sales targets for the year 2025, with a shift in focus towards preparations for the 2026 business year [1] - The main products being prepared for the 2026 kickoff are dividend-type life insurance products, indicating a strategic focus on this segment [1] Group 3 - According to a report by Guotai Junan, the impact of real estate on the asset side of insurance companies is limited, while signs of recovery on the liability side are becoming increasingly evident [1] - The report suggests that the 2026 opening will exceed expectations, with a positive outlook for the non-bank sector, particularly benefiting from increased household funds entering the market [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]

今年有约23000名跑者从外滩金牛广场出发。 11月30日6点40分，外滩金牛广场，冬日的晨光洒在陆家嘴的城市天际线上，为上海马拉松（下称：上马）照亮了每一年起点处的耀眼背景板。 23000名跑者在今年新划分的三枪起跑区里做着最后的热身，空气中原本的寒意早早就被跑者们跃跃欲试的冲动和热情给驱散了。 发令枪响起，来自世界各地的参赛者们一跃而出，现场乐队的伴奏将气氛烘托到了最高潮。 每一年的这一天，从外滩金牛广场到徐家汇体育公园，其实都有两场马拉松。在镜头和聚光灯没有关注到的幕后，另一群人的那场马拉松早已开 始。 每一届上马当天，"小马达"都要付出接近12个小时的努力。 在跑者醒来之前 凌晨2点40分，一批批"小马达"已经坐上开往外滩的大巴。车内很安静，大多数人还在补觉。 凌晨3点30分，上海杉达学院的卢秋雨和同学们到了指定的A区集结位置，手里举着外籍选手引导牌。这个时间，绝大多数跑者还在睡梦中。 "按照计划应该是需要3点半到岗，一直站到可能七点多结束工作。"卢秋雨的声音在起点处两栋高楼中间的街道显得格外清晰，她负责的区域是精 英选手集结区，每一个细节都关乎比赛的顺利起步。 从地铁口到存衣区，从天桥下到安检口，每 ...

Core Viewpoint - The insurance industry in Hong Kong has rapidly mobilized to support rescue and recovery efforts following a severe fire incident in Tai Po, demonstrating its role as an economic stabilizer and social safety net through emergency response measures and significant financial contributions [1][4]. Group 1: Emergency Response Actions - Multiple insurance companies, including China Life, China Pacific, and Taikang Insurance, activated emergency response plans immediately after the fire, establishing management teams and simplifying claims processes to ensure rapid support for affected clients [2][3]. - China Life's overseas branch initiated emergency claims services, proactively contacting policyholders to ensure timely assistance [2]. - China Taiping Insurance quickly identified affected clients and established a claims hotline, demonstrating a commitment to rapid response and support [3]. Group 2: Financial Contributions - Insurance institutions have collectively donated over 60 million HKD to aid in rescue efforts, with AIA Hong Kong contributing 20 million HKD for emergency assistance and community recovery [4][6]. - China Ping An announced a donation of 10 million HKD for emergency relief and recovery efforts, emphasizing its commitment to supporting affected communities [4][5]. - Taikang Insurance pledged 10 million RMB for urgent relief and community rebuilding, showcasing the industry's solidarity with the affected population [6]. Group 3: Reinsurance Support - Reinsurance companies, such as China Re, played a crucial role in stabilizing market confidence by providing essential support for local insurers in managing disaster-related claims [7][8]. - China Re activated its emergency response mechanism to assist direct insurers in assessing losses and expediting claims processes, reinforcing the insurance system's resilience [7]. - Qianhai Reinsurance established a dedicated task force to support claims services and ensure timely compensation for affected areas, enhancing the overall response capability of the insurance sector [8].