新华保险H股公告 当日关注点 新华人寿保险股份有限公司截至2025年8月31日的证券变动月报表显示，公司普通股H股和A股的法定/ 注册股本无变动。H股上月底结存及本月底结存均为1,034,107,260股，面值人民币1元，于香港联交所上 市，证券代码01336。A股上月底结存及本月底结存均为2,085,439,340股，面值人民币1元，于上海证券 交易所上市，证券代码601336。本月底法定/注册股本总额为人民币3,119,546,600元。已发行股份及库存 股份方面，H股和A股的已发行股份数目、库存股份数目均无变动，库存股为0。公司确认本月证券发行 或库存股出售已获董事会批准，并符合相关上市规则及法律规定。呈交者为联席公司秘书刘智勇，呈交 日期为2025年9月4日。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 交易信息汇总 截至2025年9月5日收盘，新华保险(601336)报收于63.33元，上涨0.83%，换手率1.0%，成交量20.9万 手，成交额13.07亿元。 资金流向 9月5日主力资金净流入2295.55万元，占总 ...

经济观察报 记者 姜鑫 实习记者 陈胡永 随着中报披露季的结束，机构投资者的持仓也浮出水面。 Wind（万得）统计数据显示，截至2025年6月末，保险资金现身近800家A股上市公司的前十大流通股东名单。重仓股数据显示，第二季度险资增持超过280 只股票，新建仓股票超过300只。 作为A股市场重要的增量资金来源，保险资金的持仓结构发生了哪些新变化？投资偏好又呈现出哪些特点？ "大象"跑步入场 作为A股市场持股总市值超过3%的机构投资者，保险资金因周期长、资金体量大，历来被看作市场的"压舱石"。 金融监管总局数据显示，截至2025年二季度末，我国保险公司资金运用余额突破36万亿元。其中，保险资金投向股票的资金余额达3.07万亿元，较2024年四 季度的2.43万亿元相比，净增加约6400亿元。 中报数据显示，中国人寿、中国平安、中国太保、中国人保、新华保险、中国太平、阳光保险七家A+H股上市险企的保险资金投资总规模合计21.85万亿 元，占行业总量的60.30%。 从权益类资产的增配力度来看，资金体量更大的险企动作更为积极。数据显示，上述七家公司的股票投资规模达2.05万亿元，较年初净增加4313亿元，占行 业净 ...

截至2025年6月末，保险资金现身近800家A股上市公司的前 十大流通股东名单。重仓股数据显示，第二季度险资增持超过 280只股票，新建仓股票超过300只。 作者： 姜鑫 陈胡永 封图：图虫创意 随着中报披露季的结束，机构投资者的持仓也浮出水面。 Wind（万得）统计数据显示，截至2025年6月末，保险资金现身近800家A股上市公司的前十大 流通股东名单。重仓股数据显示，第二季度险资增持超过280只股票，新建仓股票超过300只。 作为A股市场重要的增量资金来源，保险资金的持仓结构发生了哪些新变化？投资偏好又呈现出哪 些特点？ "大象"跑步入场 作为A股市场持股总市值超过3%的机构投资者，保险资金因周期长、资金体量大，历来被看作市 场的"压舱石"。 金融监管总局数据显示，截至2025年二季度末，我国保险公司资金运用余额突破36万亿元。其 中，保险资金投向股票的资金余额达3.07万亿元，较2024年四季度的2.43万亿元相比，净增加约 6400亿元。 中报数据显示，中国人寿、中国平安、中国太保、中国人保、新华保险、中国太平、阳光保险七家 A+H股上市险企的保险资金投资总规模合计21.85万亿元，占行业总量的60. ...

Regulatory Dynamics - The three departments are exploring the construction of a forest insurance product system, including index insurance, yield insurance, income insurance, and liability insurance [7] - The Ministry of Commerce will increase support for export credit insurance and enhance the convenience of insurance services [8] - The Financial Regulatory Bureau has introduced new regulations for insurance company capital guarantee deposits [9] - In 2024, the compulsory traffic insurance premium income is projected to be 271.06 billion, with claims costs at 226.28 billion [10] - The Financial Regulatory Bureau has abolished 11 regulatory documents related to the insurance industry [11] - From January to July 2025, the insurance industry’s original premium income exceeded 4.2 trillion, with claims expenditures exceeding 1.5 trillion [12] - The Medical Insurance Bureau reported that from January to July 2025, the basic medical insurance fund income exceeded 1.68 trillion, with expenditures nearing 1.37 trillion [13] Company Dynamics - Ping An Life has made three significant investments in Agricultural Bank's H-shares within six months [20] - Minsheng Insurance increased its stake in Zheshang Bank's H-shares to 6.03% [21] - Hongkang Life raised its stake in Zhengzhou Bank's H-shares to 21.24% [22] - Hongkang Life also increased its stake in Honghua Smart Energy to 7.05% [23] - China Ping An plans to cancel 103 million A-shares [24] - China Life has established a venture capital fund with a registered capital of 1 billion [25] - Sunshine Life, along with Tencent and other partners, has set up an equity investment fund with an investment of approximately 22.43 billion [27] - AIA Life has established an equity investment fund in Tianjin with a total investment of 4.5 billion [28] - Guolian Life has set up a 1.22 billion fund to invest in new quality productivity and smart technology [29] - China Pacific Insurance reported a net profit of 27.885 billion for the first half of the year, a year-on-year increase of 11% [30] - China Taiping reported a net profit of 6.764 billion HKD for the first half of the year, a year-on-year increase of 12.2% [32] - New China Life's net profit for the first half of the year was 14.799 billion, a year-on-year increase of 33.5% [34] - China Life's net profit reached 40.931 billion for the first half of the year, a year-on-year increase of 6.9% [35] - China Insurance reported a net profit of 26.530 billion for the first half of the year, a year-on-year increase of 16.9% [36] - China Ping An's operating profit for the first half of the year was 77.732 billion, a year-on-year increase of 3.7% [38] - China Re reported total premium income of 103.835 billion for the first half of the year, with a net profit growth of 9.0% to 6.244 billion [41] Industry Dynamics - A total of 73 life insurance companies reported a combined net profit of 185.8 billion for the first half of the year, with a year-on-year increase of approximately 25% [64] - The first AIC equity investment fund that incorporates bank insurance funds has been established with a capital of 1 billion [65] - Another insurance asset private equity fund has completed registration [66]

9月4日，沪指失守3800关口，收报3765.88点，收跌1.25%；深证成指、创业板指分别收跌2.83%、4.25%。相比8月市场快速上 行，近期A股已连续多个交易日回调。 9月A股将如何演绎？近日，多家券商发布了对于9月A股市场行情的研判以及金股推荐。 Wind数据显示，截至目前已有42家券商发布了9月金股推荐，共计推荐285只股票。其中，中兴通讯、新华保险、恺英网络3只股 票的被推荐次数最多，均被5家券商同时推荐。与此同时，还有7只股票被4家券商同时推荐，分别为牧原股份、东方财富、洛阳 钼业、中航沈飞、兆易创新、金山办公、深信服。 牧原股份、东方财富近三个月被累计推荐次数在所有A股中最多，达到14次；洛阳钼业和恺英网络近三个月被累计推荐次数也达 到11次。 对于9月的市场走势、行业热点以及配置方向，算力、人工智能、消费电子在内的科技主线，仍是券商重点推荐方向。与此同 时，多家券商推荐关注新消费、大金融以及"反内卷"、国产替代主题。 洛阳钼业8月以来涨近40% 整体来看，Wind数据显示，在9月金股推荐榜中，中兴通讯、新华保险、恺英网络3只股票被推荐次数最多，均被5家券商同时推 荐。而在8月的金股推荐榜中 ...

Investment Ratings - Securities: Market Perform (Maintain) [1] - Insurance: Overweight (Maintain) [2] Core Insights - The securities industry showed robust performance in the first half of the year, with 42 listed brokerages achieving total revenue of CNY 251.87 billion, a year-on-year increase of 11.37%, and net profit of CNY 104.02 billion, up 65.09% [3][47] - The banking sector demonstrated marginal improvement, with 42 listed banks reporting revenue of CNY 2.92 trillion, a year-on-year growth of 1.04%, and net profit of CNY 1.10 trillion, an increase of 0.80% [6][45] - The insurance sector's five listed companies achieved revenue of CNY 1.33 trillion, a 4.7% increase, and net profit of CNY 178.19 billion, up 3.7% [49] Summary by Sections Market Review - As of September 4, 2025, the banking, securities, and insurance indices experienced declines of -1.93%, -3.56%, and -3.89% respectively, while the CSI 300 index rose by 1.80% [6][14] Valuation Situation - The banking sector's price-to-book (PB) ratio stood at 0.76, with state-owned banks at 0.81, joint-stock banks at 0.64, city commercial banks at 0.72, and rural commercial banks at 0.63 [23] - The securities sector's PB ratio was 1.56, indicating potential for valuation recovery [25] Recent Market Indicators - The average daily trading volume in A-shares was CNY 2.64 trillion, a decrease of 10.79% week-on-week, reflecting a cooling investor sentiment [33] - The one-year medium-term lending facility (MLF) rate was 2.0%, with the one-year and five-year Loan Prime Rates (LPR) at 3.0% and 3.5% respectively [32] Industry News - The insurance sector is encouraged to return to its core protection role, with policies supporting increased equity investment, which is expected to enhance long-term growth [49] - The banking sector is seeing a shift in capital towards high-dividend, low-valuation stocks, driven by a low-interest-rate environment and asset scarcity [45]

2025年，新华保险（601336）迎来了成立29周年。过去近三十年，新华保险始终秉持"以客户为中心"的经营理念，深耕保险主业，服务国计民生，逐步成 长为中国保险市场的重要力量。 站在29周年的时点，回望来路，新华保险不仅积淀了深厚的品牌底蕴，更在近两年持续推进市场化、专业化改革中展现出强劲的发展动能。2025年上半 年，新华保险交出了一份令人瞩目的中期业绩答卷，多项核心指标实现两位数增长，综合实力持续增强，高质量发展路径愈发清晰。 增长"新速度" 自1996年成立以来，新华保险经历了中国保险市场的多轮变革，从最初的区域性布局到全国性网络的完善，从单一寿险产品到多元化保障体系的构建，每 一次战略调整都紧扣时代脉搏。 站在29周年的时点上回望，新华保险近年来的发展轨迹清晰可见——深化体系化、专业化、市场化改革，坚持价值与规模并重，不断夯实发展根基。2025 年上半年，新华保险以优异业绩生动诠释了高质量发展的内涵。 今年上半年，新华保险实现营业收入700.41亿元，同比增长26%，展现其强大的市场开拓与经营能力。作为保险主业的核心体现，新华保险原保险保费收 入突破1212.62亿元，同比大幅增长22.7%，业务规 ...

Core Viewpoint - Xinhua Insurance has demonstrated strong growth and resilience in the insurance market, achieving significant performance improvements and strategic transformations as it approaches its 29th anniversary [1][2][15]. Financial Performance - In the first half of 2025, Xinhua Insurance reported operating revenue of 700.41 million yuan, a year-on-year increase of 26% [2]. - The company's original insurance premium income exceeded 1,212.62 million yuan, reflecting a substantial growth of 22.7% [2]. - New business value reached 618.2 million yuan, up 58.4% year-on-year, while the embedded value increased to 2,793.94 million yuan, an 8.1% rise from the previous year [2]. - Net profit attributable to shareholders was 147.99 million yuan, marking a 33.5% increase, with a return on equity (ROE) of 15.9%, up nearly 5 percentage points [2]. Asset and Solvency - As of June 30, 2025, Xinhua Insurance's total assets reached 1.78 trillion yuan, a 5% increase from the previous year [3]. - The core solvency ratio stood at 170.72%, up 46.65 percentage points, while the comprehensive solvency ratio was 256.01%, rising 38.46 percentage points, significantly exceeding regulatory requirements [3]. Strategic Initiatives - The "XIN Generation" plan was launched to transform the individual insurance channel, focusing on five upgrades to enhance the marketing team [4][6]. - The individual insurance channel achieved a first-year premium of 145.06 million yuan, a remarkable increase of 70.8% year-on-year [6]. - The number of individual insurance agents reached 133,000, with a monthly performance rate stabilizing at 13.3% and a 74% increase in per capita productivity [6]. Service Ecosystem - Xinhua Insurance has developed a comprehensive service ecosystem covering ten areas, including health management and wealth transfer, to meet diverse customer needs [7][9]. - The "Xinhua Respect" service system targets high-net-worth clients, while "Xinhua Safe" focuses on home-based elderly care [9]. - The company has established a health management service network, expanding to 40 international hospitals for comprehensive health management [9]. Investment Strategy - Xinhua Insurance emphasizes asset-liability matching, optimizing product strategies and asset structures to control costs and enhance returns [13]. - The investment scale exceeded 1.7 trillion yuan, with a 5.1% increase, achieving an annual total investment return rate of 5.9% [13][14]. - The company has established pilot funds with a cumulative scale of nearly 100 billion yuan, focusing on quality listed companies in the secondary market [14]. Future Outlook - As Xinhua Insurance approaches its 30th anniversary, it aims to enhance its core competitiveness through strategic reforms, customer-centric approaches, and robust operational management [15].

NEW CHINA LIFE INSURANCE COMPANY LTD. 股份代號: 01336 （於中華人民共和國註冊成立的股份有限公司） 中期報告 2025 新華保險服務號 新華保險服務號 投資者關係網站 New China Insurance Tower, A12 Jianguomenwai Avenue, Chaoyang District, Beijing 100022,P.R.C www.newchinalife.com NEW CHINA LIFE INSURANCE COMPANY LTD. 新華人壽保險股份有限公司 北京市朝陽區建國門外大街甲12號新華保險大廈 New China Life Insurance Company Ltd. 中期報告 重要提示 新華人壽保險股份有限公司 1 1. 董事會、監事會及董事、監事、高級管理人員保證本報告內容的真實、 準確、完整，不存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和 連帶的法律責任。 2. 本公司第八屆董事會第三十六次會議於2025年8月28日審議通過了《2025 年中期報告》。會議應出席董事11人，親自出席董事11人。 3. 本公司202 ...

| 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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601319 中国人保 | | 5485.47万 | 8.73% | -711.85万 | -1.13% | -4773.62万 | -7.60% | | 601318 中国平安 | | 4336.84万 | 1.35% | -2.18亿 | -6.81% | 1.75亿 | 5.46% | | 601336 新华保险 | | 2295.55万 | 1.76% | 4346.44万 | 3.33% | -6641.99万 | -5.08% | | 601628 中国人寿 | | 1177.29万 | 1.63% | 1693.02万 | 2.34% | -2870.31万 | -3.97% | | 601601 中国太保 | | -2430.80万 | -2.10% | -1.00亿 | -8.64% | 1.24亿 | 10.74% | 以上内容为证券之星据公开信 ...