王练文 副总裁 自 2022 年 12 月起 197.97 90.02 已离任的董事及高级管理人员薪酬 | | | | | | | 报告期内 | 报告期内 | | --- | --- | --- | --- | --- | --- | --- | --- | | 姓名 | 职务 | | | 任期 | | 已发税后 | 已缴纳个人 | | | | | | | | 报酬总额 | 所得税总额 | | | | 自 | 2021 年 | 6 | 月至 | 2024 | | | （3） | | | | | | | | 张 泓 执行董事 A股证券代码：601336 A股证券简称：新华保险 编号：2025-050号 H股证券代码： 01336 H股证券简称：新华保险 新华人寿保险股份有限公司 新华人寿保险股份有限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。 新华人寿保险股份有限公司（以下简称"本公司"）2023年年度报告已披露 了本公司时任董事、监事及高级管理人员部分薪酬情况，现将上述人士（其中未 于下表列示的董事、监事及高级管理人员的薪酬 ...

A股证券代码：601336 A股证券简称：新华保险 编号：2025-049号 公司拟向全体股东每股派发现金红利 0.67 元（含税），截至 2025 年 6 月 30 日，公司总股本 3,119,546,600 股，以此计算合计拟派发现金红利约 20.90 亿元（含 税），其余未分配利润留待以后期间进行分配。2025 年中期，公司拟派发现金 红利总额占归属于母公司股东净利润的比例为 14.1%。 母公司 2025 年 6 月 30 日的期末未分配利润 1,097.78 亿元为已计提 25.20 亿元任意公积金和分 配 62.08 亿 元 2024 年度末期股利后的金额。 截至 2025 年 6 月 30 日，母公司核心偿付能力充足率为 170.72%，综合偿付 能力充足率为 256.01%。本次利润分配后，母公司核心偿付能力充足率和综合偿 付能力充足率均下降 1.57 个百分点，偿付能力充足率符合监管要求，并持续保 持较高水平。 本次中期利润分配不提取法定公积金、任意公积金、一般风险准备金，不实 施资本公积金转增股本。 本次利润分配方案尚需提交股东大会审议。 H股证券代码： 01336 H股证券简称：新华保险 ...

新华人寿保险股份有限公司监事会及全体监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。 新华人寿保险股份有限公司（以下简称"公司"）于 2025 年 8 月 18 日以电 子邮件方式向全体监事发出第七届监事会第五十七次会议（以下简称"会议"） 通知和材料，会议于 2025 年 8 月 28 日在北京市以现场方式召开。会议应到监事 合《中华人民共和国公司法》 《新华人寿保险股份有限公司章程》 A股证券代码：601336 A股证券简称：新华保险 编号：2025-048号 H股证券代码： 01336 H股证券简称：新华保险 新华人寿保险股份有限公司 第七届监事会第五十七次会议决议公告 监事会意见如下： 理委员会和《公司章程》的规定； 违反保密规定的行为； 未来的业务发展、盈利规模、投资资金需求、偿付能力状况等情况，平衡业务持 续发展与股东综合回报之间的关系，符合公司的利润分配政策。 表决情况：同意 4 票，反对 0 票，弃权 0 票。 特此公告。 新华人寿保险股份有限公司监事会 （以下简称"《公 司章程》"）和《新华人寿保险股份有限公司监事会议事规则》 ...

Core Viewpoint - Xinhua Insurance has demonstrated strong performance in its half-year report, showcasing a robust investment strategy and significant growth in both revenue and profit, which has attracted considerable market attention [1][2]. Financial Performance - The company achieved an operating income of 70.041 billion yuan, representing a year-on-year increase of 25.99% [1]. - The net profit attributable to shareholders reached 14.799 billion yuan, with a remarkable year-on-year growth of 33.53% [1]. - The company's stock price increased by 35.59% year-to-date, reflecting its strong financial performance [1]. Insurance Business - Xinhua Insurance reported original insurance premium income of 121.262 billion yuan, up 22.7% year-on-year [1]. - The first-year premium income for long-term insurance surged by 113.1% to 39.622 billion yuan [1]. - The embedded value of the company reached 279.394 billion yuan as of June 30, 2025, marking an 8.1% increase from the end of the previous year [1]. Investment Strategy - As of June 30, 2025, Xinhua Insurance's investment scale reached 1.71 trillion yuan, with direct equity investments and entrusted fund investments totaling nearly 320 billion yuan [2]. - The annualized comprehensive investment return rate was reported at 6.3%, which is particularly notable given the current low interest rate environment [2]. Asset Allocation - The total investment assets increased by 5.1% from the end of 2024, reaching 1.712 trillion yuan [3]. - The allocation of cash and cash equivalents decreased by 15.3%, while fixed deposits increased by 17.9% [3]. - Equity investments saw a growth of 10.2%, reaching 199.248 billion yuan [3]. Private Investment Funds - Xinhua Insurance has expanded its investment channels by participating in private investment funds, such as the Honghu Zhiyuan Fund, co-established with China Life [4]. - As of June 30, 2025, the net assets of the Honghu Zhiyuan Fund reached 55.684 billion yuan, with total assets of 57.112 billion yuan [4]. - The fund has generated significant returns through long-term holdings in quality companies, yielding approximately 550 million yuan in dividend income [4]. Future Outlook - The company plans to continue its prudent investment philosophy, focusing on scientific asset allocation to enhance long-term returns [5]. - Xinhua Insurance aims to actively participate in the establishment and operation of more private investment funds to further broaden its investment channels [5].

1、国常会：加快培育和完善数据要素市场 重要程度：★★★★★ 国务院总理李强8月29日主持召开国务院常务会议。会议指出，要激发技术要素创新活力，推进土地要素 集约高效配置，引导人力资源要素合理流动，加快培育和完善数据要素市场，增强资本要素服务实体经济 能力，健全资源环境市场制度建设。要推动医疗、医保、医药政策协同发力，加大对基层医疗卫生机构的 投入倾斜力度，完善医保支付等政策，扩大用药种类，提升基层看病就医保障能力。 8月29日下午，华为发布了2025年半年度报告。报告显示，华为上半年营收4270.39亿元，同比增3.95%;净 利润371.95亿元，同比下降32%。归母净利润370.54亿元，去年同期归母净利润546.42亿元，同比下降 32.19%。研发投入969.50亿元，同比增9.04%，占营收22.7%。 4、新华保险：鸿鹄基金二期基本完成建仓 三期7月启动进展顺利 重要程度：★★★ 新华人寿保险股份有限公司于29日在京召开2025年中期业绩会。对于鸿鹄基金进展，新华资产管理股份有 限公司总裁陈一江表示，试点基金共三期，三期基金7月初开始启动，目前进展顺利。 从投资的方向范围来看，三期基金投资范围包 ...

Financial Performance - The company reported a revenue of 70.04 billion yuan, a year-on-year increase of 26% [2] - The original insurance premium income reached 121.26 billion yuan, up 22.7% year-on-year [2] - The net profit attributable to shareholders was 14.8 billion yuan, reflecting a 33.5% year-on-year growth [2] - New business value increased to 6.18 billion yuan, a significant rise of 58.4% year-on-year [2] - The annualized total investment return rate was 5.9%, an increase of 1.1 percentage points year-on-year [2] - The return on equity was nearly 16%, up 4.8 percentage points year-on-year [2] Stock Performance - On August 29, the company's A-share price reached a historical high, briefly surpassing 70 yuan [2] - Year-to-date, the A-shares have risen over 40%, while H-shares have increased more than 100%, leading the insurance sector in growth [2] Strategic Focus - The company has strengthened its systematic, professional, market-oriented, and refined management, transitioning towards a "customer-centric" and "high-quality development" model [3] - Emphasis on enhancing investment management capabilities and adapting to a low-interest-rate environment [3][6] - The company is focusing on life insurance as its core business and has developed a comprehensive framework to support long-term growth [3] Asset-Liability Management - The company is enhancing asset-liability management to improve overall efficiency and mitigate risks associated with interest rate fluctuations [4][6] - A dedicated account manager system has been established to improve information exchange and decision-making efficiency between departments [4] Investment Strategy - The company is maintaining a strategic focus on fixed-income investments while enhancing trading capabilities to capture market opportunities [6] - Emphasis on high-dividend stocks to provide stable cash flow and mitigate risks in a low-interest-rate environment [6] - Participation in long-term investment reforms and establishment of funds to support strategic emerging industries [6] Product Development - The company is actively promoting the transformation of dividend insurance products to share risks and benefits with customers [9] - A leadership team has been established to drive the transformation of dividend insurance sales and management [10] - The company has seen significant growth in dividend insurance sales, with a notable increase in the proportion of premium income from this product line [10]

重视高股息股票配置价值 从投资端来看，2025年上半年，新华保险年化总投资收益率5.9%，同比提升1.1个百分点；总资产达1.78万亿元，较上年末提升5%。 新华保险副总裁秦泓波指出，传统上作为投资组合"压舱石"的固定收益资产，随着利率中枢下行，安全垫正在明显变薄，同时负债端成本具有较大刚性，行 业"利差损"压力巨大。 面对这样的挑战，秦泓波表示，新华保险总的思路是资产负债联动。在固定收益方面，要继续保持战略定力，做好超长期债券的跨周期匹配；积极强化交易 能力，通过多品种、多策略组合和对交易性机会的捕捉，增厚整体收益。 在权益投资方面，则是通过优化配置结构，在有效控制波动的前提下，获取长期稳健的超额收益。秦泓波表示，新华保险会更加重视高股息股票的配置价 值，在利率中枢下行背景下，优质高股息股票不仅能提供稳定的股息现金流和稳定的净投资收益率，在新会计准则下还可以通过划入OCI（其他综合收益） 8月29日，新华保险A股报收68.24元，上涨5.49%，盘中最高触及71.16元，年内累计涨幅达41.54%；H股报收48.14港元，上涨1.35%，年内累计涨幅高达 114.84%。 屡创新高的股价，自然也吸引了市场的 ...

Core Viewpoint - The Honghu Fund, established by China Life and Xinhua Insurance, has successfully completed its initial investment phases and is progressing well in its third phase, with a total approved scale of 110 billion yuan [1][3]. Summary by Sections Fund Progress - As of mid-2023, the first phase of the Honghu Fund has completed its investment tasks and achieved good returns. The second phase has also completed its main investment work by the end of Q2 2023, while the third phase commenced in early July and is progressing smoothly [1]. Fund Structure - The Honghu Fund consists of three phases with a total approved scale of 110 billion yuan. The first phase has a scale of 50 billion yuan, with both China Life and Xinhua Insurance contributing 25 billion yuan each. The second phase has a scale of 20 billion yuan, with each insurer contributing 10 billion yuan. The third phase has an approved scale of 40 billion yuan, with two products under it [2][3]. Investment Strategy - The investment scope of the Honghu Fund includes large listed companies that are constituents of the CSI A500 index, focusing on companies with good governance, stable operations, consistent dividends, and good liquidity. The fund aims to maintain the long-term stability of the capital market and optimize asset allocation [3]. Performance Metrics - As of June 30, the first phase of the Honghu Fund, named Honghu Zhiyuan (Shanghai) Private Investment Fund Co., Ltd., reported total assets of 57.112 billion yuan, net assets of 55.684 billion yuan, operating income of 1.203 billion yuan, operating profit of 1.175 billion yuan, and net profit of 968 million yuan for the first half of the year [5]. Future Outlook - The fund management emphasizes adherence to investment discipline, deepening research, optimizing asset allocation, and achieving a balance between functionality and profitability in the long term [4].

Core Insights - Xinhua Life Insurance Co., Ltd. reported a total asset of 1.78 trillion yuan, a 5% increase from the end of the previous year [1] - The company achieved an annualized total investment return rate of 5.9%, up by 1.1 percentage points year-on-year [1][3] - The net profit attributable to shareholders reached 14.8 billion yuan, reflecting a year-on-year growth of 33.5% [1] Financial Performance - Total revenue for the first half of 2025 was 70.041 billion yuan, a 26% increase year-on-year [1] - Original insurance premiums amounted to 121.3 billion yuan, growing by 22.7% compared to the previous year [1] - New business value surged to 6.182 billion yuan, marking a 58% increase year-on-year [1] Solvency Ratios - The core solvency adequacy ratio stood at 170.72%, an increase of 46.65 percentage points from the end of the previous year [3] - The comprehensive solvency adequacy ratio reached 256.01%, up by 38.46 percentage points, significantly exceeding regulatory requirements [3] Market Performance - Xinhua Insurance has shown strong performance in both A-shares and H-shares, with market evaluations describing its stock price as "soaring" [3] - The chairman of Xinhua Insurance emphasized the company's strong investment value despite the rising stock price [3] Investment Strategy - The company faces challenges in the asset side due to declining interest rates and rigid liabilities [3] - Xinhua Insurance plans to maintain strategic consistency in fixed income investments and optimize equity investment structures to achieve long-term stable excess returns [3]

Core Insights - Xinhua Insurance reported strong mid-year results, with a revenue of 70.041 billion yuan, a year-on-year increase of 26%, and a net profit of 14.8 billion yuan, up 33.5% [1][2] - The company's stock price rose by 5.49% to 68.24 yuan per share, leading the insurance sector [1] - The growth in new business value reached 6.182 billion yuan, a significant increase of 58% year-on-year [1] Revenue and Premium Growth - Xinhua Insurance's total insurance premium income reached 121.3 billion yuan, a 22.7% increase year-on-year [1][3] - The individual agent channel contributed 72.526 billion yuan, while the bancassurance channel accounted for 46.192 billion yuan [3][8] - The first-year premium for long-term insurance through individual agents surged by 80% to 14.506 billion yuan [3][8] Strategic Developments - The chairman highlighted that the company's reforms have led to improvements in operational performance, channel capabilities, product strength, and brand image [2] - The company has established a leadership group for the transformation of dividend insurance, aiming to enhance sales and management of these products [4] Investment Performance - Xinhua Insurance's investment scale exceeded 1.7 trillion yuan, with a total annualized investment return rate of 5.9%, up 1.1 percentage points year-on-year [5][6] - The company has actively adjusted its asset allocation, increasing investments in equity assets and diversifying into long-term bonds and REITs [6][7] Market Position - The company outperformed the industry, which saw a total premium growth of 5.4% for life insurance companies [1][3] - Xinhua Insurance's ability to grow its premium income significantly contrasts with other insurers facing stagnation or negative growth in similar segments [3][4]