Group 1 - Southbound funds recorded a net purchase of HKD 1.341 billion in Hong Kong stocks today [1] - Notable net purchases included Xiaomi Group-W at HKD 3.013 billion, Tracker Fund at HKD 2.606 billion, and Meituan-W at HKD 607 million [1] - Continuous net buying trends were observed for Meituan over the past 7 days totaling HKD 2.89598 billion and for Xiaomi over the past 6 days totaling HKD 5.0656 billion [1] Group 2 - Significant net selling was noted for Alibaba-W at HKD 1.776 billion and Tencent Holdings at HKD 1.445 billion [1] - Semiconductor company ASMPT experienced a net sell of HKD 439 million, while Kuaishou-W and SMIC also saw net selling [1] - The trend of net selling for SMIC has persisted for 12 consecutive days, amounting to HKD 3.56848 billion [1]

保险板块午后拉升。 12月5日，A股震荡上行，全市场超过4300只个股上涨；午后，非银金融放量拉升，其中保险板块"挑起 大梁"。 截至收盘，上证指数报3902.81点，涨0.7%；深证成指涨1.08%、创业板指涨1.36%、北证50涨1.52%， 科创50持平。A股全天成交1.74万亿元。 Wind数据显示：10月份以来，中国人寿、中国平安、中国人保均涨超10%，其中，中国人寿涨 15.18%、中国平安涨14.33%、中国人保涨12.32%。 保险板块午后集体走强。截至收盘，保险股涨幅均超4.5%，万得保险指数大涨5.8%，创下近1年来的最 高涨幅。 其中，中国太保（601601.SH；02601.HK）领涨，盘中一度涨超7%，截至收盘涨幅6.85%，报37.61元/ 股。中国平安（601318.SH；02318.HK）盘中涨超6%，最高触及62.2元/股，继11月14日后再度向62元/ 股冲刺。截至收盘，A股报61.99元/股，涨5.88%。 另外，中国人保（601319.SH；01339.HK）涨4.92%，报收8.75元/股；中国人寿（601628.SH； 02628.HK）涨4.61%，报收45.4元 ...

启动仪式上，中国人寿长沙市分公司党委委员、副总经理唐艳表示，此次公益行活动是公司积极响应国 家乡村振兴与可持续发展战略、践行金融企业社会责任的重要举措。她说，双峰驼作为新疆特色畜牧资 源与生态文化符号，其保护与发展对促进当地农牧民增收、维护生态环境具有双重意义。公司希望通 过"保险+公益"的创新模式，连接长沙客户与新疆牧场，不仅为当地特色养殖业注入活力，也为客户搭 建起参与国家边疆建设的爱心桥梁。她表示，公司将持续探索金融服务与公益实践相结合的长效机制， 以实际行动回馈社会。 长沙晚报掌上长沙12月5日讯（通讯员 陈伊歆）11月30日，中国人寿保险股份有限公司长沙市分公司在 长沙成功举办"湖湘共赴，点亮爱心——认养一头双峰驼新疆公益行活动"启动仪式，标志着这一跨越千 里的公益项目正式启航。 此次"认养双峰驼"公益行活动，是中国人寿长沙市分公司积极投身国家发展战略、履行社会责任的又一 具体实践。未来，公司将继续坚守"成己为人， 成人达己"的企业文化核心理念，持续创新公益形式， 深化公益内涵，在服务国家大局、保障民生福祉、促进共同富裕的道路上稳步前行。 ...

Core Viewpoint - The A-share market showed signs of recovery on December 5, with the ChiNext index rising over 1% after an initial drop of more than 0.5%. The non-bank financial sector experienced significant gains, driven by positive news regarding China Ping An and regulatory adjustments in the insurance sector [2]. Group 1: Market Performance - The A-share market rebounded, with the ChiNext index increasing by over 1% after a morning decline [2]. - The non-bank financial sector saw a collective surge in the afternoon, with notable stocks like China Ping An and China Pacific Insurance rising over 5% [2]. Group 2: Company-Specific Developments - Morgan Stanley, referred to as the "whistleblower" of the A-share market, added China Ping An to its focus list and maintained it as a top pick [2]. - Morgan Stanley raised the target price for China Ping An's A-shares from 70 yuan to 85 yuan and for its H-shares from 70 HKD to 89 HKD [2]. Group 3: Regulatory Changes - The Financial Regulatory Bureau released a notice adjusting risk factors related to insurance companies' business operations, aiming to promote high-quality development while maintaining risk control [2]. - The adjustments include changes to the risk factors for insurance companies investing in stocks and for export credit insurance, encouraging greater support for foreign trade enterprises [2].

第三，发挥投资合力，建立全谱系科技金融服务能力。科技创新具有"投入大、周期长、风险高"的 特征，不同阶段对资金期限、风险偏好和服务需求差异显著。国寿资产综合运用多元投资工具和产品形 态推进科技投资落地，目前形成了以权益投资为主、另类投资和固收投资有效补充的科技投资模式。面 向未来，国寿资产将努力打造长期价值导向的权益投资科创引擎，完善多策略广覆盖的债券投资支持体 系，构建多种工具模式互补的另类投资服务矩阵，推动形成覆盖全周期、模式多元化、能力专业化的科 技投资体系。 转自：证券日报网 本报记者 冷翠华 党的二十届四中全会明确提出"加快高水平科技自立自强，引领发展新质生产力"。中国人寿资产管 理有限公司（以下简称"国寿资产"）相关业务负责人近日在接受《证券日报》记者采访时表示，将结合 自身"耐心资本"的天然禀赋，把高水平科技自立自强融入顶层投资决策与长期发展规划，完善投研体 系，以更好地"读懂"硬核科技。同时，优化考核方式，推动保险投资更好服务科技自立自强。 战略规划更加突出科技金融 国寿资产上述业务负责人表示，该公司将着力加强对实现高水平科技自立自强的金融支持，从战略 谋划、配置理念、投资体系等关键要素入手全 ...

刚刚，今天大幅拉升的保险板块，迎"长钱长投"的政策利好！ 12月5日，A股和港股的保险股持续拉升。截至A股收盘，中国太保涨超6%，中国平安涨超5%，中国人保、中国人寿等跟涨。截至港股收盘，中国平安涨超 6%，中国人寿涨5%，中国太保、新华保险等跟涨。 12月5日下午，金融监管总局官网发布《关于调整保险公司相关业务风险因子的通知》（下称《通知》）。 其中，针对保险公司投资的沪深300指数成份股、 中证红利低波动100指数成份股，以及科创板股票的风险因子，持仓时间分别超过三年、两年的，将可以享受较低的风险因子。 这一政策回应了业界期待。据悉，风险因子降低，意味着相关投资的资本占用降低，偿付能力压力"松绑"，为保险公司后续进一步投资操作或增持股票提供 更大空间。金融监管总局有关司局负责人表示，此举旨在培育壮大耐心资本、支持科技创新。 下调保险公司相关业务风险因子 根据《通知》，保险公司持仓时间超过三年的沪深300指数成份股、中证红利低波动100指数成份股的风险因子从0.3下调至0.27。该持仓时间根据过去六年加 权平均持仓时间确定。 保险公司持仓时间超过两年的科创板上市普通股的风险因子从0.4下调至0.36。该持仓 ...

港股保险板块午后涨幅扩大，截至发稿，中国平安(02318.HK)和中国太保(02601.HK)涨6%、中国人寿 (02628.HK)涨4%。摩根士丹利今日发布研报，将中国平安 (02318.HK/601318.SH) 纳入中国内地 / 中国 香港重点关注名单，维持 "首选" 评级，同时大幅上调目标价，A股目标价从70元升至85元（+21%）， H股目标价从70港元升至89港元（+27%）。大摩相信中国平安可以抓住居民理财、医疗健康和养老领 域的关键增长机会。同时，市场的主要担忧正在逐步出清，为该公司估值提升铺平道路。 ...

12月5日金融一线消息，保险股持续拉升，中国太保涨超7%，中国平安涨超5%，中国人保、中国人寿 等跟涨。 责任编辑：秦艺 责任编辑：秦艺 12月5日金融一线消息，保险股持续拉升，中国太保涨超7%，中国平安涨超5%，中国人保、中国人寿 等跟涨。 ...

本文源自：金融界AI电报 港股保险股午后持续拉升，中国平安(02318.HK)涨超5%，中国太平(00966.HK)涨近4%，中国太保 (02601.HK)、中国人寿(02628.HK)等跟涨。 ...

Group 1: Hong Kong IPO Market Overview - In November 2025, the Hong Kong Stock Exchange saw 12 companies successfully listed, raising approximately HKD 40.401 billion, marking the third-highest fundraising scale of the year [1] - The leading sectors for fundraising included automotive manufacturing, autonomous driving, biotechnology, and software services, indicating strong international capital confidence in China's leading enterprises in new energy and AI [2][4] - Notable contributions to the fundraising total came from companies such as Seres (HKD 14.283 billion), Pony.ai (HKD 6.707 billion), and Innovation International (HKD 5.495 billion), which together accounted for over 65.56% of the total [2] Group 2: Upcoming IPOs and Market Activity - A total of 55 companies submitted IPO applications in November, with 11 companies initiating their offering process, indicating a robust pipeline for future listings [7] - The market is expected to remain active, supported by high-quality projects from companies like JD Industrial, Tianyu Semiconductor, and Naxin Microelectronics, which are anticipated to contribute to the IPO landscape in late 2025 and early 2026 [7] Group 3: US IPO Market Insights - In the US market, no Chinese companies completed IPOs in November due to the government shutdown affecting the SEC's operations, which led to a slowdown in the review process for new IPO applications [8][10] - Despite the lack of new listings, seven companies submitted IPO applications, primarily in logistics, digital marketing, and tourism services, showcasing the ongoing interest of Chinese firms in the US market [10] Group 4: Regulatory Developments and Efficiency - Sixteen companies received approval from the China Securities Regulatory Commission for overseas listings, surpassing the previous month's figures and setting a new record for 2025 [12] - The average approval time for these projects was approximately five months, reflecting improved efficiency and predictability in the regulatory process, which enhances corporate confidence in pursuing overseas listings [12] Group 5: Market Outlook - The Hong Kong market is expected to maintain its status as a preferred destination for Chinese companies seeking to list abroad, supported by a clear focus on hard technology and substantial fundraising capabilities [13] - The ongoing regulatory improvements and the active pipeline of companies indicate a promising future for both the Hong Kong and US IPO markets, with potential for a return of Chinese enterprises to the US when conditions are favorable [13]