Summary of China Pacific Insurance Conference Call Company Overview - **Company**: China Pacific Insurance (中国人保) - **Industry**: Insurance Key Points Non-Motor Insurance Performance - Personal non-motor insurance maintains double-digit growth with good profitability, and the combined cost ratio is below 90% [2][3] - Corporate non-motor insurance is significantly affected by natural disasters, leading to structural adjustments to reduce losses [2][3] - Agricultural insurance shows good profitability, while social insurance business incurs losses, with efforts to minimize these losses [2][3] Impact of Regulatory Changes - The "reporting and operation integration" policy, effective from November 1, 2023, is expected to exert short-term pressure on premium growth but will optimize the combined cost ratio and promote industry standardization in the long term [2][3][5] - Personal non-motor insurance is less affected due to its strong profitability and growth rate, while corporate non-motor insurance, particularly commercial property and liability insurance, will see more significant improvements [3][5] New Energy Vehicle Insurance - New energy vehicle insurance accounts for 20% of total motor insurance premium income, with new business premiums making up 50% [2][6] - The company expects to achieve overall profitability in new energy vehicle insurance by 2025, with a 4 percentage point decrease in the claim rate year-on-year [2][6] Overseas Market Expansion - In the first nine months of 2025, the company generated approximately 1.6 billion RMB in overseas premium income, achieving over double-digit growth and profitability [2][7] - The goal is to reach 20 billion RMB in annual overseas premium income by 2030, with an average annual growth rate exceeding 20% [2][7] Asset Management Strategy - The company focuses on absolute returns and investment income targets rather than specific allocations between growth and value stocks [2][8] - The current duration gap for life insurance business is 6 years, which is narrowing, and the company plans to increase long-duration government bond allocations [2][4][13] Investment Returns and Strategies - The company aims to maintain a stable net investment return rate around 3%, with the mid-year net investment return rate reported at 3.3% [2][14] - The strategy includes enhancing the proportion of FVOCI (Financial Assets at Fair Value through Other Comprehensive Income) stocks to ensure stable cost profitability [2][10] Dividend Policy and Shareholder Returns - The dividend policy considers net profit fluctuations, subsidiary capital strength, solvency, and business stability [2][23] - The company aims to provide sustainable, stable, and predictable returns to shareholders while enhancing profitability [2][23] Sales and Distribution Channels - The bancassurance channel has seen a 68% increase in new single premiums in the first nine months of 2025, driven by strong cooperation with major banks and growing resident financial needs [2][20] - The company is expanding its bank branch network to further support new single premium growth [2][20] Regulatory Compliance and Future Outlook - The company is actively working on compliance with the new expense-sharing guidelines, which are expected to reduce channel costs and promote new business value growth [2][18][19] - The integration of reporting and operation is ongoing, with plans to enhance internal systems to meet regulatory requirements [2][19] Conclusion - China Pacific Insurance is strategically positioned to navigate regulatory changes, expand into new markets, and enhance profitability through effective asset management and a focus on sustainable growth in both domestic and international markets [2][7][8][23]

北京商报讯（记者 胡永新）12月4日，中国人民保险集团股份有限公司发布公告称，2025年半年度利润分配方案已获2025年 第二次临时股东会审议通过。本次以总股本442.24亿股为基数，每股派发现金红利0.075元（含税），共计派发现金红利 33.17亿元。其中，A股普通股股份数为354.98亿股，本次派发A股现金红利共计约26.62亿元。 中国人民保险集团股份有限公司 2025年半年度权益分派实施公告 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: ● 每股分配比例 ● 差异化分红送转: 否 Í 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025年10月30日的2025年第二次临时股东会审议通过。 IÍ 分配方案 截至股权登记日下午上海证券交易所收市后,在中国证券登记结算有限责任公司上海分 公司(以下简称"中国结算上海分公司")登记在册的本公司全体股东。 本公司 H 股股东的 现金红利发放的具体操作不适用本公告,其详情请参阅本公司于 2025年 10月 10 日及 10 月 30 日在香港联合交易所 ...

。 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 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 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 （於中華人民共和國註冊成立之股份有限公司） （股份代號：133 9） 海外監管公告 第13.10B條的披露義務而作出。 本公告乃中國人民保險集團股份有限公司根據《香港聯合交易所有限公司證券上市規則》 茲載列該公告如下，僅供參閱。 承董事會命 中國人民保險集團股份有限公司 伍秀薇 公司秘书 中國北京，二零二五年十二月四日 於本公告日，本公司執行董事為趙鵬先生、李祝用先生及肖建友先生，非執行董事為王 清劍先生、苗福生先生、王少群先生、喻強先生及宋洪軍先生，獨立非執行董事為邵善 波先生、高永文先生、崔歷女士、徐麗娜女士及王鵬程先生。 证券代码：601319 证券简称：中国人保 公告编号：2025-039 中国人民保险集团股份有限公司 2025年半年度权益分派实施公告 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 ...

12月4日金融一线消息，中国人保公告称，2025年半年度利润分配方案已获2025年第二次临时股东会审 议通过。本次以总股本44，223，990，583股为基数，每股派发现金红利0.075元（含税），共计派发现 金红利3.32亿元，其中A股派发现金红利约26.62亿元。A股股权登记日为2025年12月11日，除权（息） 日和现金红利发放日为12月12日。除财政部及社保基金理事会自行发放外，其他A股股东委托中国结算 上海分公司派发。 | 股份类别 | 股权登记日 | 最后交易日 | 除权(息)日 现金红利发放日 | | | --- | --- | --- | --- | --- | | A P | 2025/12/11 | | 2025/12/12 | 2025/12/12 | 责任编辑：秦艺 12月4日金融一线消息，中国人保公告称，2025年半年度利润分配方案已获2025年第二次临时股东会审 议通过。本次以总股本44，223，990，583股为基数，每股派发现金红利0.075元（含税），共计派发现 金红利3.32亿元，其中A股派发现金红利约26.62亿元。A股股权登记日为2025年12月11日，除权（息） 日和 ...

证券代码：601319 证券简称：中国人保 公告编号：2025-039 中国人民保险集团股份有限公司 2025年半年度权益分派实施公告 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： 每股分配比例 差异化分红送转： 否 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 10 月 30 日的2025年第二次临时股东会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 本公司 H 股股东的 现金红利发放的具体操作不适用本公告，其详情请参阅本公司于 2025 年 10 月 10 日及 10 月 30 日在香港联合交易所有限公司网站（www.hkexnews.hk）刊发的相关公告。 A 股每股现金红利0.075元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- ...

格隆汇12月4日丨中国人保(601319.SH)公布2025年半年度权益分派实施公告，本次利润分配以方案实施 前的公司总股本442.24亿股为基数，每股派发现金红利0.075元（含税），共计派发现金红利33.17亿 元。其中，A股普通股股份数为354.98亿股，本次派发A股现金红利共计约人民币26.62亿元。 MACD金叉信号形成，这些股涨势不错！ 本次权益分派股权登记日为：2025年12月11日，除权除息日为：2025年12月12日。 ...

中国人保公告称，2025年半年度利润分配方案已获2025年第二次临时股东会审议通过。本次以总股本 44,223,990,583股为基数，每股派发现金红利0.075元（含税），共计派发现金红利3.32亿元，其中A股派 发现金红利约26.62亿元。A股股权登记日为2025年12月11日，除权（息）日和现金红利发放日为12月12 日。除财政部及社保基金理事会自行发放外，其他A股股东委托中国结算上海分公司派发。 ...

2025年12月3日，国家金融监督管理总局丽水监管分局发布批复称，《人保财险丽水市分公司关于变更 中国人民财产保险股份有限公司庆元支公司松源营销服务部营业场所的请示》（丽人保财险发〔2025〕 82号）收悉。经审核，现批复如下： 一、同意中国人民财产保险股份有限公司庆元支公司松源营销服务部将营业场所变更为：浙江省丽水市 庆元县屏都街道屏都综合新区金山大道17号企业服务中心三层3003室。 二、人保财险丽水市分公司应按照有关规定及时办理变更及许可证换领事宜。 ...

二、中国人民财产保险股份有限公司临夏州分公司应按照有关规定及时办理变更及许可证换领事宜。 一、同意中国人民财产保险股份有限公司永靖支公司川南营销服务部营业场所变更为：甘肃省临夏回族 自治州永靖县刘家峡镇川南路永靖令牌优家国际1号楼1单元1层商铺109室。 2025年12月1日，国家金融监督管理总局临夏监管分局发布批复称，《中国人民财产保险股份有限公司 临夏州分公司关于永靖支公司川南营销服务部营业场所变更的请示》（临人保财险发〔2025〕60号）收 悉。经审核，现批复如下： ...

Core Insights - The total issuance of technology innovation bonds in the market has reached approximately 1.5 trillion yuan, with funds accelerating towards technology innovation entities [1] - The establishment of an 800 billion yuan re-lending program for technology innovation and technological transformation by the Ministry of Science and Technology and the People's Bank of China aims to support over 120,000 technology-based SMEs [1] - The implementation of the "Innovation Points System" and specialized guarantee plans has led to positive outcomes in financial support for major national technology tasks and technology-based SMEs [1] Group 1: Technology Financial System Development - The establishment of a "Technology Board" in the bond market is a key focus for building a technology financial system that aligns with technological innovation, aiming to raise long-term, low-interest, and easily accessible bond funds [2] - Shenzhen has taken the lead in responding to the "Technology Board," issuing a total of 1 billion yuan in technology innovation bonds, primarily targeting cutting-edge fields such as artificial intelligence and biomedicine [2] - The "Investment-Insurance Linkage" model by Shenzhen High-tech Investment Group provides comprehensive services including equity, debt, and diversified financial tools to support startups and small enterprises [2] Group 2: Bond Issuance and Financial Products - Guangdong has issued 102 technology innovation bonds with a total issuance scale of 111.4 billion yuan, ranking second nationwide, with most funds directed towards technology innovation-related fields [3] - The bond market's "Technology Board" leverages its market-oriented advantages to continuously introduce specialized innovative products to support financing for technology-based enterprises [3] - A multi-layered and diversified technology financial service system is being developed to better meet the financing needs of technology-based enterprises at different stages [3] Group 3: Financial Support Mechanisms - The establishment of a coordinated mechanism for technology finance has improved the matching and precision of financial support for technology innovation [4] - A comprehensive financial service plan called "Mid-Stage Insurance and Financing" has been launched, providing 100 billion yuan in bank support and insurance guarantees for mid-stage projects over the next three years [4] - The "拨保贷投" mechanism provides full lifecycle funding support for mid-stage projects, covering various funding needs from project inception to maturity [5] Group 4: Innovation Points System - The "Innovation Points System" is being promoted nationwide to optimize evaluation indicators and provide precise profiles for technology-based SMEs [6] - In Handan, the "科创数智贷" product allows companies to secure loans based on their innovation points ranking, demonstrating the effectiveness of the innovation points system [7] - The upgraded "Innovation Points System 2.0" aims to convert a company's innovation potential into quantifiable credit for financial institutions, enhancing the accessibility and efficiency of technology financial services [8] Group 5: Knowledge Value Credit - Hubei has established a knowledge value credit evaluation model, allowing companies to secure financing based solely on intellectual property and talent value [9] - The "Knowledge Value Credit Loan" program has issued a total of 77.4 billion yuan, supporting 14,916 technology-based enterprises, breaking the traditional asset-backed financing model [11] - The establishment of a risk compensation fund and a scientific knowledge value credit evaluation system has enhanced banks' willingness to lend to technology-based enterprises [10][11]