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。 本公司第五届董事会第九次会议（以下简称"会议"）的通知和 材料于 2025 年 4 月 10 日以书面方式通知全体董事，会议于 2025 年 4 月 29 日在北京市西城区西长安街 88 号中国人保大厦以现场会议方 式召开。会议应出席董事 12 名，现场出席 10 名，视频连线出席 2 名。 独立董事徐丽娜、高平阳以视频连线方式出席会议。会议由丁向群董 事长主持。监事会成员及部分高级管理层成员列席了会议。会议的召 开符合《中华人民共和国公司法》等相关法律、行政法规、部门规章 和《中国人民保险集团股份有限公司章程》的规定，会议合法、有效。 经与会董事审议并表决，形成以下会议决议： 一、审议通过了《关于修订集团公司〈公司章程〉的议案》，并 同意提交股东会审议 证券代码：601319 证券简称： 中国人保 公告编号：临 2025-016 中国人民保险集团股份有限公司 第五届董事会第九次会议决议公告 表决结果：12 票同意，0 票反对，0 票弃权 二、审议通过了《关于修订集团公司〈股东 ...

FANGDA PARTNERS http://www.fangdalaw.com 中国北京市朝阳区光华路一号 电子邮件 E-mail: email@fangdalaw.com 北京嘉里中心北楼 27 层 电 话 Tel.: 86-10-5769 5600 邮政编码：100020 传 真 Fax: 86-10-5769 5788 27/F, North Tower, Beijing Kerry Centre 1 Guanghua Road, Chaoyang District Beijing 100020, PRC 上海市方达（北京）律师事务所 关于中国人民保险集团股份有限公司 2025 年第一次临时股东大会的法律意见书 致：中国人民保险集团股份有限公司 上海市方达（北京）律师事务所（以下简称"本所"）是具有中华人民共和国 境内法律执业资格的律师事务所。根据相关法律顾问协议，本所指派律师出席中 国人民保险集团股份有限公司（以下简称"公司"）2025 年第一次临时股东大会 （以下简称"本次股东大会"），并就本次股东大会的召集和召开程序、参与表决 和召集会议人员的资格、表决程序和表决结果等有关事宜出具本法律意见书。 ...

Financial Performance - Total operating revenue for Q1 2025 reached RMB 156,589 million, an increase of 12.8% compared to RMB 138,778 million in Q1 2024[2] - Net profit attributable to shareholders of the parent company was RMB 12,849 million, representing a 43.4% increase from RMB 8,963 million in the same period last year[2] - Basic earnings per share rose to RMB 0.29, up 43.4% from RMB 0.20 in Q1 2024[2] - Net profit for Q1 2025 was RMB 17,454 million, up 44.5% from RMB 12,063 million in Q1 2024[24] - The company reported a total comprehensive income of RMB 14,474 million for Q1 2025, compared to RMB 5,314 million in Q1 2024, reflecting a substantial increase[24] Cash Flow and Assets - Net cash flow from operating activities was RMB 36,549 million, a 10.2% increase from RMB 33,154 million in Q1 2024[2] - Cash and cash equivalents at the end of Q1 2025 were RMB 40,501 million, down from RMB 44,132 million at the beginning of the period[26] - The company’s total assets as of March 31, 2025, were RMB 1,800,490 million, compared to RMB 1,766,384 million as of December 31, 2024[22] - Total liabilities as of March 31, 2025, amounted to RMB 1,418,786 million, a slight increase from RMB 1,399,158 million as of December 31, 2024[22] Profitability Metrics - The weighted average return on equity increased to 4.7%, up 1.0 percentage points from 3.7% in the previous year[2] - The net profit excluding non-recurring gains and losses was RMB 12,815 million, up 43.5% from RMB 8,928 million in Q1 2024[2] - The comprehensive cost ratio for the property insurance segment improved to 94.5%, a decrease of 3.4 percentage points year-on-year[12] Segment Performance - Insurance service revenue for Q1 2025 reached 136.11 billion RMB, a year-on-year increase of 7.9%[11] - The life insurance segment reported a 48.0% increase in insurance service revenue, totaling 7.084 billion RMB[14] - The health insurance segment achieved a net profit of 2.430 billion RMB, a year-on-year increase of 59.9%[17] Strategic Focus - The company continues to optimize its insurance business structure and improve underwriting performance, contributing to the significant profit growth[5] - The company is focusing on high-quality development and innovation in response to the evolving economic landscape[10] - The asset management division is enhancing market analysis and optimizing investment strategies to improve asset allocation stability[18] Investment Income - Investment income surged to RMB 12,218 million in Q1 2025, compared to RMB 2,494 million in Q1 2024, reflecting a significant increase of 389.5%[23] - The company reported investment income of RMB 142 million for the first quarter of 2025, a significant increase from RMB 14 million in the same period of 2024, representing a growth of 914.3%[28] - The company’s interest income for the first quarter of 2025 was RMB 126 million, slightly up from RMB 123 million in the first quarter of 2024, indicating a growth of 2.4%[28] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 146,097 for A shares and 4,954 for H shares[7] - The total equity attributable to shareholders of the parent company increased to RMB 279,346 million as of March 31, 2025, from RMB 268,733 million at the end of 2024[22]

Core Viewpoint - The performance of the five major listed insurance companies in A-shares showed a mixed trend in Q1 2025, with a total net profit of 841.76 billion yuan, reflecting a year-on-year growth of 1.4% despite a slowdown in industry premium growth [1][3]. Performance Analysis - The five listed insurance companies achieved a total net profit of 841.76 billion yuan, with China Life, Ping An, and PICC each exceeding 100 billion yuan in net profit, amounting to 288.02 billion yuan, 270.16 billion yuan, and 128.49 billion yuan respectively. China Pacific and Xinhua Insurance reported net profits of 96.27 billion yuan and 58.82 billion yuan [3][4]. - The net profit growth exhibited a "three up, two down" pattern, with PICC showing a remarkable growth rate of 43.4%, followed by China Life and Xinhua Insurance at 39.5% and 19.0% respectively. Conversely, China Pacific and Ping An experienced declines in net profit [3][4]. Investment Performance - Investment performance significantly influenced the earnings of listed insurance companies, with varying investment returns reported. Ping An achieved a non-annualized comprehensive investment return rate of 1.3%, while Xinhua Insurance reported a 5.7% annualized total investment return. In contrast, China Pacific's total investment return was only 1.0%, down 0.3 percentage points year-on-year [3][4]. - The stock market showed resilience amidst volatility, while the bond market experienced significant fluctuations, impacting the investment strategies of various insurance companies [4]. New Business Value - Despite challenges in the investment sector, the overall performance of life insurance business remained robust, with all companies reporting rapid growth in new business value. Ping An's new business value reached 128.91 billion yuan, up 34.9%, while China Pacific's life insurance new business value grew by 11.3% to 57.78 billion yuan. China Life reported a 4.8% increase in new business value compared to the same period in 2024 [6][7]. Cost Efficiency in Property Insurance - The three major property insurance companies (PICC, Ping An, and China Pacific) reported improved comprehensive cost ratios in Q1 2025. PICC's comprehensive cost ratio was 94.5%, down 3.4 percentage points year-on-year, while Ping An's was 96.6%, down 3.0 percentage points, and China Pacific's was 97.4%, down 0.6 percentage points [10][11]. - The reduction in comprehensive cost ratios was attributed to optimized expense inputs, improved business structures, and a decrease in major disaster losses year-on-year, enhancing underwriting profits [10][11].

Financial Performance - Total revenue for Q1 2025 reached RMB 156,589 million, an increase of 12.8% compared to RMB 138,778 million in Q1 2024[5] - Net profit attributable to shareholders of the parent company was RMB 12,849 million, reflecting a significant growth of 43.4% from RMB 8,963 million in the same period last year[5] - Basic earnings per share increased to RMB 0.29, up 43.4% from RMB 0.20 in Q1 2024[5] - The weighted average return on net assets rose to 4.7%, an increase of 1.0 percentage points compared to 3.7% in the previous year[5] - Net cash flow from operating activities was RMB 36,549 million, representing a 10.2% increase from RMB 33,154 million in Q1 2024[5] - The net profit excluding non-recurring gains and losses was RMB 12,815 million, up 43.5% from RMB 8,928 million in Q1 2024[5] - Total operating revenue for Q1 2025 reached RMB 156,589 million, a 12.8% increase from RMB 138,778 million in Q1 2024[28] - Net profit attributable to shareholders of the parent company for Q1 2025 was RMB 12,849 million, up 43.1% from RMB 8,963 million in Q1 2024[29] Assets and Liabilities - Total assets as of March 31, 2025, amounted to RMB 1,800,490 million, a 1.9% increase from RMB 1,766,384 million at the end of 2024[5] - Total liabilities as of March 31, 2025, amounted to RMB 1,418,786 million, an increase from RMB 1,399,158 million as of December 31, 2024[26] - The total equity attributable to shareholders of the parent company increased to RMB 279.346 billion, a growth of 3.9% from the end of the previous year[14] - The asset-liability ratio decreased to 78.8%, down 0.4 percentage points from the previous period[25] - Total liabilities and equity as of March 31, 2025, were RMB 1,800,490 million, an increase from RMB 1,766,384 million as of December 31, 2024[27] Insurance Business Performance - Insurance service revenue for Q1 2025 reached RMB 136.11 billion, a year-on-year increase of 7.9%[14] - The combined insurance premium income for PICC Property and Casualty was RMB 120.741 billion, a 6.1% increase year-on-year[15] - PICC Life achieved insurance service revenue of RMB 7.084 billion, with a net profit of RMB 3.653 billion, marking a 48.0% increase in revenue[18] - PICC Health reported insurance service revenue of RMB 7.483 billion, with a net profit growth of 59.9%[21] - The comprehensive cost ratio for PICC Property and Casualty improved to 94.5%, a decrease of 3.4 percentage points year-on-year[15] Shareholder Information - As of the report date, the total number of ordinary shareholders was 146,097 for A-shares and 4,954 for H-shares[9] Cash Flow and Investment - Cash flow from operating activities for Q1 2025 was RMB 36,549 million, an increase from RMB 33,154 million in Q1 2024[31] - Investment cash outflow for Q1 2025 was RMB 40,122 million, compared to a cash inflow of RMB 5,306 million in Q1 2024[32] - The company reported an investment income of RMB 12,218 million for Q1 2025, significantly higher than RMB 2,494 million in Q1 2024[28] - The company recorded investment income of RMB 142 million for the three months ended March 31, 2025, compared to RMB 14 million in the same period of 2024, indicating a substantial increase[35] - The company reported a net cash outflow from investing activities of RMB (1,122) million for the three months ended March 31, 2025, compared to a cash inflow of RMB 347 million in the same period of 2024[36]

■本报记者 田耿文 阿坝藏族羌族自治州（以下简称"阿坝州"）位于四川西北部、青藏高原东南边缘，地表整体轮廓为典型 高原风貌，是长江黄河上游重要生态屏障和重要水源涵养地。这里不仅有高耸的雪山、广袤无垠的草 原、清新宜人的空气，更有漫山遍野、成群结队的牦牛，共同构成了一幅生动而和谐的高原生态画卷。 在这里，旅游和牦牛养殖都是当地的支柱产业。其中，牦牛不仅是游牧文化的图腾，更是万千牧民家庭 的重要经济支柱。 牦牛保险破解养殖难题 近日，记者一行驱车从成都出发，穿过一条又一条隧道，经过四个多小时的跋涉，来到了阿坝州的州府 所在地马尔康市。考虑到高反的影响，记者一行在马尔康市暂作休整，第二天一早出发，前往素有"牧 韵草原牦牛家园"之美誉的红原县。 红原县拥有1164万亩天然草场，这里的高原环境为牦牛提供了广阔的觅食空间和独特的生长条件，使得 牦牛成为当地重要的畜牧业资源。红原县在气候上属于大陆性高原寒温带季风性气候，易发旱灾、霜 冻、低温及大雪天气。 "自然条件下，牦牛冬季要掉膘20%—30%，春季死亡率较高。长期以来，牦牛养殖业处于'夏壮、秋 肥、冬瘦、春死'的传统循环中。"西南民族大学畜牧兽医学院副院长、人保牦牛风 ...

■田耿文 近日，《农村金融时报》记者在阿坝州调研采访的过程中，深切感受到这片高原土地上独特的游牧文明 和发展畜牧业的重要性。在这片广袤的土地上，牦牛不仅是游牧文明的象征，更是牧民家庭的经济支 柱。 然而，特殊的地理和气候条件也给牦牛养殖带来了诸多挑战，使得养殖业长期陷入"夏壮、秋肥、冬 瘦、春死"的恶性循环。每年春季都是牦牛死亡的高发季节，这会给牧民造成巨大经济损失。 面对这一困境，保险业挺身而出，主动投身于当地牦牛保险项目。中国人保积极通过创新举措，在当地 开展特色产业保险帮扶，开发牦牛价格保险、牦牛防返贫保险等险种，为当地牧民提供了坚实的风险保 障。 其中，牦牛价格保险在市场价格波动导致参保牦牛出栏市场价低于保险价时，依约进行赔偿，为广大牧 民抵御市场价格冲击提供了有力的兜底保障，助力畜牧业走上可持续发展之路。 值得一提的一个细节是，经人保工作人员查勘后的死亡牦牛，由无害化处理公司拉走，集中进行无害化 处理。这一举措不仅有效减少了牦牛疾病的传播，还有效改善了草原环境，从而吸引更多游客前来旅游 消费，实现良性循环。 阿坝州的创新实践表明：金融工具的巧妙运用，为高寒牧区治理提供了有效的保险策略和方案。 如今， ...

证券代码：601319 证券简称：中国人保 公告编号：临 2025-015 中国人民保险集团股份有限公司 关于召开 2025 年第一季度业绩说明会的公告 1 会议召开时间：2025 年 4 月 30 日（星期三）15:00-16:00 会议召开地点：上证路演中心（http://roadshow.sseinfo.com） 会议召开方式：上证路演中心文字互动 二、说明会召开的时间、地点和方式 （一）会议召开时间：4 月 30 日（星期三）15:00-16:00 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。 重要内容提示： 投资者可于 4 月 29 日(星期二)16:00 前登陆上证路演中心网站首 页，点击"提问预征集"栏目进行提问。公司将在业绩说明会上对投 资者普遍关注的问题进行回答。 为使广大投资者更加全面深入地了解公司 2025 年第一季度业绩 和经营情况，本公司拟于 4 月 30 日（星期三）15:00-16:00 召开 2025 年第一季度业绩说明会，就投资者普遍关心的问题进行交流。 一、说明会类型 本次业绩说明会通过 ...

近日，工业和信息化部装备工业一司组织召开智能网联汽车产品准入及软件在线升级管理工作推进会并 发布相关公告。公告强调车企要充分开展组合驾驶辅助测试验证，明确系统功能边界和安全响应措施， 不得进行夸大和虚假宣传，严格履行告知义务，切实担负起生产一致性和质量安全主体责任，切实提升 智能网联汽车产品安全水平。 事实上，随着智能驾驶技术普及带来的责任认定模糊、传统车险适配性不足等问题浮出水面，正在倒逼 车企与险企加速探索新型保险模式。在监管与市场的双重推进下，智能驾驶保险又该如何发展？ 监管收紧：全面规范智能驾驶宣传与责任 早在2月25日，工业和信息化部、市场监管总局就联合发布了《关于进一步加强智能网联汽车产品准 入、召回及软件在线升级管理的通知》（以下简称《通知》）。 《通知》中明确表示要强化企业责任，落实智能网联汽车产品生产一致性和质量安全主体责任，规范营 销宣传行为，健全产品售后服务管理体系；加强相关部门监督管理，按照有关要求，做好对本通知落实 情况的监督检查，督促企业落实主体责任。 此次工业和信息化部的推介会就是围绕《通知》有关产品准入和软件在线升级备案要求，听取汽车生产 企业落实情况及建议。 在一份关于此次会 ...

金十图示：2025年04月23日（周三）富时中国A50指数成分股今日收盘行情一览：银行、半导体行业午后延续跌势 保险 中国太保 中国人保 中国平安 电机 3175.28亿市值 2972.69亿市值 9232.59亿市值 6.46亿成交额 15.15亿成交额 3.17亿成交额 50.70 7.18 30.90 -0.07(-0.23%) +0.13(+0.26%) +0.03(+0.42%) 酸酒行业 贵州茅台 五粮液 山西汾酒 19496.19亿市值 2620.00亿市值 5044.93亿市值 28.95亿成交额 12.47亿成交额 9.73亿成交额 1552.00 129.97 214.76 -3.19(-1.46%) +3.20(+0.21%) -0.13(-0.10%) 半导体 北方华创 寒武纪-U 海光信息 HYGON 2433.47亿市值 2860.46亿市值 3463.26亿市值 21.92亿成交额 19.14亿成交额 37.76亿成交额 455.79 685.21 149.00 -3.10(-2.04%) -6.06(-1.31%) -9.77(-1.41%) 汽车整车 铁路公路 比亚迪 长城汽 ...