Core Viewpoint - ZhongAn Insurance has launched the "Hundred Cities Running Plan" to promote a more scientific and sustainable approach to health and fitness for the public, marking a transition from the 1.0 era of product supply to the 2.0 era of cross-ecosystem collaboration [1] Group 1: Company Initiatives - The "Hundred Cities Running Plan" is a one-stop sports service platform designed specifically for runners, collaborating with various partners including event IPs, operational organizations, sports equipment brands, venues, medical institutions, insurance intermediaries, and welfare platforms to provide six dimensions of sports benefits [1] - ZhongAn Insurance has over ten years of experience in the sports sector, having developed a comprehensive insurance matrix covering the entire chain from prevention to compensation, and has supported over 80 marathon events and more than 1 million runners and staff, with a total insured amount nearing 10 trillion [1] Group 2: Industry Trends - The "National Fitness" strategy and the "Healthy China 2030 Planning Outline" have led to a significant increase in the number of people participating in sports, with over 514 million individuals expected to engage in regular physical activity by 2024 [1] - The shift in the slogan for "National Fitness Day" from "Advocating Fitness" to "Scientific Fitness" reflects a new stage in the pursuit of refined and systematic long-term health in sports [1] - ZhongAn Insurance is expanding its insurance offerings in the sports sector, integrating technological capabilities, expanding partnerships, and focusing on user needs to enhance product and experience [2]

众安保险总经理姜兴表示，"我们希望以'百城助跑计划'为起点，继续把金融创新融入全民健身的 各类场景，以定制化保障和全流程服务，成为运动人群温暖而坚实的后盾。" 9月2日，众安保险在全民健身开放日上宣布启动"百城助跑计划"。 据悉，"百城助跑计划"是众安保险专为跑者打造的一站式运动服务平台，首期覆盖国内超过100座 城市的150场各类路跑赛事。 通过该计划，众安保险将携手知名赛事IP、赛事运营机构、运动装备品牌、运动场馆、运动医疗机 构、保险中介机构、福利权益平台等合作伙伴，共同为用户带来六大维度的运动福利，标志着众安运动 生态从产品供给的1.0时代，迈入跨生态联动的2.0时代。 在全民健身开放日现场，众安保险正式宣布签约中国优秀马拉松运动员李美珍成为众安运动代言 人。 复旦大学经济学院副院长、复旦大学保险应用创新研究院副院长许闲指出，保险不仅是体育经济发 展的引擎，更是串联用户长期健康管理的关键环节。健康中国战略下，"体、医、保"融合已成为必然趋 势。传统保险产品难以精准匹配运动人群对保障和服务的多元化、体验化需求，这也为行业带来新的机 遇。 众安保险开放平台事业部总经理刘海姣表示，"只有深入理解用户，才能提 ...

众安在线 摘要 中安在线财险业务增速显著高于行业平均水平，综合成本率优化至 95.6%，显示出较强的盈利能力和成本控制能力，为股票交易提供积极 信号。 中安银行首次实现半年度盈利，净收入同比增长 82%，零售用户数量持 续增长，表明其在虚拟银行领域具有较强的竞争力和增长潜力，可能吸 引更多投资。 健康生态方面，"众民保"中高端产品针对带病群体，保费规模迅速增 长，与支付宝等第三方渠道合作推动健康险总保费显著提升，预示健康 险业务的强劲增长。 数字生活生态方面，宠物险保费收入大幅增长，公司积极拓展运动经济 领域的保险赞助，表明其在创新业务方面具有较强的市场敏感度和业务 拓展能力。 汽车生态领域，公司获得交强险资质并积极拓展线上渠道，推动保费显 著增长，预计全年将保持高增长态势，为公司带来新的增长点。 AI 技术在承保、核保、理赔等环节的应用，显著优化了健康险费用率， 未来仍有进一步优化空间，提升了运营效率和盈利能力。 二级市场股票投资策略调整，增加成长型股票的投资比例，上半年投资 表现优于去年，权益持仓表现出色，显示出较强的投资管理能力。 Q&A 2025 年上半年，中安在线在保险主营业务方面取得了哪些亮眼的业 ...

Investment Rating - The report indicates a positive outlook for the insurance sector, recommending strong beta stocks and companies with good business quality, particularly focusing on leading life insurance companies and those with favorable dividend policies [4]. Core Insights - The combined net profit of five A-share listed insurance companies increased by 3.7% in H1 2025, with Q2 showing a year-on-year growth of 5.9%, primarily driven by improvements in the asset side [1][11]. - The growth rates of net profit for major companies in H1 2025 were as follows: Xinhua 33.5%, China Property & Casualty 32.3%, PICC 16.9%, Taiping 12.2%, Taikang 11.0%, Sunshine 7.8%, China Life 6.9%, Ping An -8.8%, and AIA -23.1% [1][11]. - The operating profit for Ping An and Taiping grew by 3.7% and 7.1% respectively, with all listed insurance companies achieving positive growth in operating profit [2][16]. Financial Performance - **Net Profit**: The net profit of five listed insurance companies increased by 3.7% in H1 2025, with Q2 showing a 5.9% increase [1][11]. - **Contract Service Margin**: The contract service margin showed positive growth across the board, with the highest growth rates seen in PICC (+12.0%) and Sunshine (+10.3%) [19]. - **Net Assets**: The growth rates of net assets varied, with PICC leading at +6.1%, while Sunshine and Xinhua experienced declines of -10.1% and -13.3% respectively [1][23]. Revenue Analysis - **Insurance Service Performance**: The insurance service performance showed overall growth, with notable increases in companies like Sunshine (+13.3%) and PICC (+1.7%) [25]. - **Investment Performance**: Investment performance varied significantly, with Ping An and Taiping showing declines, while companies like Xinhua and PICC reported positive investment results [26]. Life Insurance - **New Business Value (NBV)**: The NBV growth rates for listed insurance companies in H1 2025 were led by PICC (+62.7%), Sunshine (+47.2%), and Ping An (+39.8%) [29][30]. - **Margin Improvement**: The margin for new business improved due to strong demand for savings products and a reduction in the preset interest rate [29]. Non-Life Insurance - **Premium Growth**: The non-auto insurance premium growth was mixed, with overall low growth in the property and casualty insurance sector [4]. - **Combined Operating Ratio (COR)**: The COR improved year-on-year, with China Property & Casualty showing the best performance at 94.8% [4]. Investment Recommendations - The report recommends focusing on leading life insurance companies with good business quality, strong beta stocks like Xinhua Insurance, and companies with favorable dividend policies such as China Taiping [4].

根据股东协议，众安国际董事会会议之决议案须获出席会议并参与表决之有关人士的一致同意后通过。 股东协议生效后，公司将继续采用权益法将众安国际入账列为合营公司。 认购事项项下的增资，将为众安国际提供额外营运资金及增强财务灵活性，这将进一步促进其拓展数字 银行业务(包括研发理财新产品及功能，以及建设Web 3.0银行基础设施)的业务进程。 格隆汇8月31日丨众安在线(06060.HK)宣布，于2025年8月29日，众安国际与众安科技、Z Fin、 Warrior、Opportunities Fund、Cosmos、OKG及Northstar订立购股协议，据此，(i)众安科技有条件同意认 购，及众安国际有条件同意以每股众安国际普通股0.4225美元的购买价发行及配发最多135,423,860股众 安国际普通股；及(ii)待认购事项完成后及与此同时，鉴于认购事项项下的每股众安国际普通股的购买 价低于先前股东协议项下的经调整购买价，故将触发先前股东协议项下的反摊薄机制，并且将无偿向众 安科技、Z Fin、Warrior及Opportunities Fund发行3,739,800股、4,313,294股、199,908股及 ...

Core Viewpoint - ZhongAn International has entered into a share purchase agreement with several entities, which will result in the issuance of up to 135 million shares at a price of $0.4225 per share, triggering an anti-dilution mechanism due to the lower purchase price compared to previous agreements [1][2] Group 1 - The share purchase agreement involves ZhongAn Technology, Z Fin, Warrior, Opportunities Fund, Cosmos, OKG, and Northstar, who will acquire shares in ZhongAn International [1] - Following the completion of the subscription and the anti-dilution issuance, the voting rights of the involved parties will change, with ZhongAn Technology and Z Fin holding approximately 45.76% and 41.71% respectively [2] - The capital increase from the subscription will provide additional operational funds and enhance financial flexibility for ZhongAn International, facilitating its expansion into digital banking [2] Group 2 - The issuance of shares will include 3.7398 million shares to ZhongAn Technology, 4.3133 million shares to Z Fin, 199,900 shares to Warrior, and 999,500 shares to Opportunities Fund as part of the anti-dilution mechanism [1] - The transaction is expected to support the development of new financial products and the construction of Web 3.0 banking infrastructure [2]

Group 1 - ZhongAn Online (06060) announced a share purchase agreement involving ZhongAn International, ZhongAn Technology, Z Fin, Warrior, Opportunities Fund, Cosmos, OKG, and Northstar, with a conditional agreement to issue up to 135 million shares at a price of $0.4225 per share [1] - Following the completion of the subscription and the issuance of shares under the anti-dilution mechanism, the voting rights of the involved parties will change, with ZhongAn Technology and Z Fin holding approximately 45.76% and 41.71% respectively [2] - The capital increase from the subscription will provide additional operating funds and enhance financial flexibility for ZhongAn International, facilitating the expansion of its digital banking business, including the development of new financial products and Web3.0 banking infrastructure [2]

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。 眾安在綫財產保險股份有限公司 ZHONGAN ONLINE P & C INSURANCE CO., LTD.* （於中華人民共和國註冊成立的股份有限公司，並以「ZA Online Fintech P & C」在香港經營業務） （股份代號：6060） 關連交易 眾安科技向眾安國際增資 增資 董事會謹此宣佈，於2025年8月29日（交易時段後），眾安國際與眾安科技、 Z Fin、Warrior、Opportunities Fund、Cosmos、OKG及Northstar訂立購股協 議，據此，(i)眾安科技有條件同意認購，及眾安國際有條件同意以每股眾安國 際普通股0.4225美元的購買價發行及配發最多135,423,860股眾安國際普通股； 及(ii)待認購事項完成後及與此同時，鑒於認購事項項下的每股眾安國際普通股 的購買價低於先前股東協議項下的經調整購買價，故將觸發先前股東協議項下的 反攤薄機制，並且將 ...

众安上半年业绩表现强劲兼胜预期，净利润同比增长逾11倍至6.68亿元人民币，达到该行全年预测的 66%，相信是受三大核心业务利润显著提升的推动。期内财产保险综合成本率(COR)同比下降(改善)2.3 个百分点至95.6%，承保利润增长123%至6.27亿元人民币，旗下众安银行扭亏为盈，较市场预期提早。 智通财经APP获悉，招银国际发布研报称，考虑财险业务及数字银行盈利表现超出预期，以及科技业务 全年达到收支平衡的指引，将众安在线(06060)2025至2027年每股盈利预测从0.67、0.75及0.88元人民 币，上调至0.8、0.94及1.08元人民币，目标价由20.4港元上调至23港元，维持"买入"评级。 （原标题：招银国际：升众安在线(06060)目标价至23港元 维持"买入"评级） ...

众安上半年业绩表现强劲兼胜预期，净利润同比增长逾11倍至6.68亿元人民币，达到该行全年预测的 66%，相信是受三大核心业务利润显著提升的推动。期内财产保险综合成本率(COR)同比下降(改善)2.3 个百分点至95.6%，承保利润增长123%至6.27亿元人民币，旗下众安银行扭亏为盈，较市场预期提早。 招银国际发布研报称，考虑财险业务及数字银行盈利表现超出预期，以及科技业务全年达到收支平衡的 指引，将众安在线(06060)2025至2027年每股盈利预测从0.67、0.75及0.88元人民币，上调至0.8、0.94及 1.08元人民币，目标价由20.4港元上调至23港元，维持"买入"评级。 ...