1月15日金融一线消息，中国太平洋人寿保险股份有限公司（下称太保寿险）发布公告称，2026年1月9 日，该公司通过大宗交易方式增持上海机场（600009.SH）A股股票7242.4万股。本次举牌后，太保寿险 及其关联方及一致行动人太平洋资产管理有限责任公司共持有上海机场A股约1.24亿股，占该上海机场 A股股本比例为5.00%。 根据披露，根据2026年1月9日上海机场A股收盘价，太保寿险持有上海机场股票的账面余额约为人民币 40.67亿元，占该公司2025年三季度末总资产的比例为0.15%，符合监管要求。 截至2025年9月30日，太保寿险权益类资产账面余额为人民币5005.53亿元，占该公司2025年二季度末总 资产的比例为20.81%。 责任编辑：王馨茹 责任编辑：王馨茹 1月15日金融一线消息，中国太平洋人寿保险股份有限公司（下称太保寿险）发布公告称，2026年1月9 日，该公司通过大宗交易方式增持上海机场（600009.SH）A股股票7242.4万股。本次举牌后，太保寿险 及其关联方及一致行动人太平洋资产管理有限责任公司共持有上海机场A股约1.24亿股，占该上海机场 A股股本比例为5.00%。 根据 ...

Core Viewpoint - The article highlights the ongoing trend of insurance capital actively increasing their equity investments, with significant recent activities including the acquisition of shares in Shanghai Airport by Taibao Life Insurance, indicating a robust wave of insurance capital entering the market in 2026 [2][3][5]. Group 1: Recent Acquisitions - On January 9, Taibao Life Insurance increased its stake in Shanghai Airport by acquiring 72.424 million shares, raising its total holdings to 124 million shares, which constitutes approximately 5.00% of the company's A-share capital [2][3]. - Prior to this acquisition, Taibao Life Insurance and its asset management subsidiary held 51.9917 million shares, representing a 2.09% stake [3]. - The total value of Taibao Life Insurance's holdings in Shanghai Airport is approximately 4.067 billion yuan, accounting for 0.15% of the company's total assets as of Q3 2025 [3][4]. Group 2: Insurance Capital Trends - In December 2025, Ping An Life Insurance also made significant acquisitions, reaching a 20% stake in Agricultural Bank of China and China Merchants Bank, triggering mandatory disclosure [5]. - The frequency of insurance capital triggering the 5% disclosure threshold has become a notable trend in 2025, with a total of 36 instances recorded, surpassing previous highs [5][6]. Group 3: Equity Asset Allocation - As of Q3 2025, the total equity asset allocation by life and property insurance companies reached 5.59 trillion yuan, marking a 35.92% increase year-on-year [7]. - The equity asset allocation ratio for insurance companies has reached a historical high, with stock allocations accounting for 10% of total assets and combined stock and fund allocations exceeding 15% [7]. - Ping An Life Insurance reported an equity asset balance of 1.5 trillion yuan, which is 27.00% of its total assets, up from 19.81% in the previous year [7]. Group 4: Market Outlook and Investment Sentiment - The article notes that insurance capital is motivated by a low interest rate environment and new accounting standards, leading to a greater need for equity asset allocation [8]. - A survey of insurance investment officers indicates a prevailing sentiment that opportunities in the market outweigh risks, with over 70% planning to continue increasing equity allocations [8][9]. - The trend of reallocating assets in a declining interest rate environment is expected to further drive insurance capital towards equity investments, fostering a positive cycle of market recovery [9].

证券代码：600009 证券简称：上海机场 公告编号：临 2026-002 一、因存在其他形式的飞行（不以营利为目的的通用航空飞行）， 所以部分项目分项数字之和与总计数存在差异；因数据四舍五入的原 因，部分数据可能存在加总后小数位差异。 二、上述运输生产数据源自公司内部统计，仅供投资者参考。 上海国际机场股份有限公司 董事会 2026 年 1 月 15 日 1 上海国际机场股份有限公司 2025年12月运输生产情况简报 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。 | 浦东国际机场 | | 飞机起降量（架次） | | 旅客吞吐量（万人次） | | 货邮吞吐量（万吨） | | --- | --- | --- | --- | --- | --- | --- | | | 本月 | 同比±% | 本月 | 同比±% | 本月 | 同比±% | | 总计 | 45,996 | 5.08 | 692.80 | 8.02 | 36.93 | 10.88 | | 境内航线 | 25,590 | 5.03 | 378.72 | 9.34 | ...

2026年刚刚开年，险资举牌已有动作。1月12日，上海机场公告披露，太保资产于9日通过大宗交易增持 公司股份至5%，触发举牌。此次投资资金来源于受托管理的太保寿险保险资金，成为今年险资举牌首 例。 近年来，险资举牌呈现显著升温趋势。据第一财经统计，2025年险资举牌次数达到41次，较2024年的20 次进一步增加，创下近十年新高，仅次于2015年的历史峰值。 此轮举牌潮与以往有何不同？华创证券分析指出，当前险资举牌主要基于两方面考虑：一是在低利率环 境下，对高股息红利股的配置价值更为重视；二是通过长期股权投资，纳入ROE稳定的优质标的，以优 化资产结构。该机构预计，2026年这两类配置逻辑仍将持续，险资举牌热潮或将继续。 低利率环境下，险资频繁举牌；其他资金则更多关注红利低波策略。以红利低波指数（H30269.CSI） 为例，该指数选取分红稳定、股息率较高且波动较低的证券，采用股息率加权。截至1月13日，该指数 近一年股息率为4.45%。红利低波ETF华夏（159547）是跟踪该指数综合费率最低的ETF，每季度评估 可分红，联接基金A类021482；联接基金C类021483。 ...

Core Viewpoint - The trend of insurance capital "shareholding" is expected to continue into 2026, driven by the focus on high dividend stocks and the need for long-term equity investments to enhance return on equity (ROE) [2][18]. Group 1: Recent Trends in Insurance Capital Shareholding - In 2025, insurance capital shareholding reached 41 instances, a significant increase from 20 in 2024, marking a new high in the past decade [2][3]. - The current wave of shareholding differs from the past, as it is influenced by a low interest rate environment and the need for stable cash returns through high dividend stocks [5][14]. - Analysts indicate that the demand for high dividend and high ROE stocks will persist, suggesting that the shareholding trend will continue [18]. Group 2: Characteristics of the Current Shareholding Wave - The shareholding activities are more diversified compared to previous years, with "Ping An" leading with 15 instances, primarily targeting bank and insurance stocks [11][12]. - Bank stocks were the most favored, being targeted 17 times, accounting for 41.5% of total shareholding instances in 2025 [13][14]. - The average dividend yield of the targeted companies was approximately 5.0%, higher than previous waves, indicating a preference for high-yield investments [15]. Group 3: Investment Strategies and Regulatory Environment - The new accounting standards implemented in 2023 require insurance companies to choose between FVTPL and FVOCI for stock investments, influencing their investment strategies [6][7]. - The regulatory environment has encouraged long-term capital market participation, enhancing the attractiveness of shareholding for insurance companies [7][18]. - The investment strategy includes a focus on high ROE assets, particularly state-owned enterprises with stable business models, to improve the overall ROE of insurance capital [17].

Core Viewpoint - China Pacific Asset Management has increased its stake in Shanghai Airport, raising its shareholding from 2.09% to 5.00%, triggering a mandatory tender offer [1][2]. Group 1: Shareholding Changes - On January 9, China Pacific Asset Management acquired over 70 million A-shares of Shanghai Airport through block trading [1]. - Following this transaction, the total shareholding of China Pacific Asset Management and its affiliate, Taiping Life, increased to 124 million shares [1][2]. - The increase in shareholding was funded by insurance funds managed by China Pacific Asset Management [4]. Group 2: Trading Details - The block trades on January 9 had a total transaction value of 2.14 billion yuan, with a trading price of 29.55 yuan per share, reflecting a 9.99% discount compared to the previous closing price [2][3]. - Three block trades were executed on that day, with the largest transaction involving 40.39 million shares [3]. Group 3: Financial Performance of Shanghai Airport - For the first three quarters of 2025, Shanghai Airport reported a revenue of 9.71 billion yuan, a year-on-year increase of 5.69%, and a net profit of 1.63 billion yuan, up 35.98% [8][9]. - The significant profit growth was attributed to increased air traffic at both Pudong and Hongqiao airports [8]. Group 4: Industry Context - The insurance sector has been active in equity acquisitions, with 41 instances of insurance capital increasing stakes in listed companies since 2025 [5]. - The trend of insurance capital acquisitions is expected to continue, focusing on companies with stable dividend cash flows and mature business models [8].

Core Viewpoint - The announcement details a significant equity change involving Shanghai International Airport Co., Ltd., where Taibao Asset increased its shareholding from 2.09% to 5.00% through a block trade, without altering the controlling shareholder or actual controller of the company [2][5]. Group 1: Equity Change Details - On January 9, 2026, Taibao Asset completed the acquisition of 72,424,000 A-shares, raising its total holdings from 51,991,684 shares to 124,415,684 shares [2][3]. - The increase in shareholding was funded by insurance funds managed by Taibao Asset on behalf of Taibao Life Insurance [3]. Group 2: Stakeholder Information - Taibao Asset and Taibao Life Insurance are subsidiaries controlled by China Pacific Insurance (Group) Co., Ltd., and they have a concerted action relationship as per the regulations of the China Securities Regulatory Commission [2][3]. Group 3: Regulatory Compliance - The equity change does not lead to a change in the company's controlling shareholder or actual controller [5]. - The equity change is in compliance with relevant regulations, including the Securities Law and the Measures for the Administration of the Acquisition of Listed Companies [5].

Core Viewpoint - Pacific Asset Management Co., Ltd. acquired 72,424,000 shares of the company's A-shares through block trading, increasing its stake from 2.09% to 5.00% in total with China Pacific Life Insurance Co., Ltd. as a concerted actor [1] Group 1 - The total shares held by Pacific Asset Management and China Pacific Life Insurance after the acquisition amount to 124,415,684 shares [1] - The funding for the increased shareholding comes from insurance funds managed by China Pacific Asset Management [1] - There are no restrictions on share rights, and the company does not rule out the possibility of further increasing or decreasing its shareholding within the next 12 months [1]

证券之星消息，1月12日航空机场板块较上一交易日上涨0.23%，中信海直领涨。当日上证指数报收于 4165.29，上涨1.09%。深证成指报收于14366.91，上涨1.75%。航空机场板块个股涨跌见下表： 从资金流向上来看，当日航空机场板块主力资金净流出1840.88万元，游资资金净流出687.31万元，散户 资金净流入2528.19万元。航空机场板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600221 海航控股 | | 7702.93万 | 8.34% | -4906.70万 | -5.31% | -2796.23万 | -3.03% | | 6600000 | 中信海直 | 5247.10万 | 5.92% | -3064.21万 | -3.46% | -2182.89万 | -2.46% | | 600029 | 南方航空 | 983.22万 | 1.85% | 849.80万 ...

上市公司名称：上海国际机场股份有限公司 股票上市地点：上海证券交易所 股票简称：上海机场 上海国际机场股份有限公司 简式权益变动报告书 权益变动性质：股份增加 签署日期：2026 年 1 月 声 明 1、本报告书系信息披露义务人依据《中华人民共和国公司法》、《中华人 民共和国证券法》、《上市公司收购管理办法》、《公开发行证券的公司信息披 露内容与格式准则第 15 号—权益变动报告书》及其他相关法律、法规及部门规 章的有关规定编写。 2、本报告书已全面披露了信息披露义务人在上海机场拥有权益的股份变动 情况。截至本报告书签署日，除本报告书披露的信息外，信息披露义务人没有通 过任何其他方式增加或减少在上海机场拥有权益的股份。 股票代码：600009 3、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人章程或内部规则中的任何条款，或与之相冲突。 信息披露义务人一：太平洋资产管理有限责任公司 注册地址：中国(上海)自由贸易试验区世纪大道 100 号 39 楼 通讯地址：中国(上海)自由贸易试验区世纪大道 100 号 39 楼 信息披露义务人二：中国太平洋人寿保险股份有限公司 注册地址：上 ...