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份內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 海外監管公告 本公告乃新華人壽保險股份有限公司（「本公司」）依據《香港聯合交易所有限公司證券 上市規則》第 13.10B 條規定而作出。茲載列該公告如下，僅供參閱。 承董事會命 新華人壽保險股份有限公司 楊玉成 董事長 中國北京，2025年8月28日 於本公告日期，本公司董事長、執行董事為楊玉成；執行董事龔興峰；非執行董 事為楊雪、毛思雪、胡愛民和張曉東；及獨立非執行董事為馬耀添、賴觀榮、徐 徐、郭永清和卓志。 重要内容提示： 一、利润分配方案内容 经德勤华永会计师事务所（特殊普通合伙）审阅，新华人寿保险股份有限公 司（以下简称"公司"）2025 年中期母公司财务报表净利润为 143.33 亿元（人 民币，下同），合并财务报表归属于母公司股东的净利润为 147.99 亿元。截至 2025 年 6 月 30 日，母公司财务报表中期末未分配利润为 1,097.78 亿元1，无未 弥补亏损。经董事会决议，公司 ...

从资金流向上来看，当日保险板块主力资金净流出3.56亿元，游资资金净流入1.19亿元，散户资金净流入 2.37亿元。保险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 | | --- | --- | --- | --- | --- | --- | --- | --- | | 601319 中国人保 | | 4868.47万 | 5.49% | 1812.38万 | 2.04% | -6680.86万 | -7.54% | | 601628 中国人寿 | | -5101.96万 | -4.73% | 5108.35万 | 4.74% | -6.39万 | -0.01% | | 601601 中国太保 | | -8045.81万 | -7.31% | 2581.18万 | 2.34% | 5464.63万 | 4.96% | | 601318 中国平安 | | -1.26亿 | -3.36% | 1861.92万 | 0.50% | 1.07亿 | 2.87% | | 601336 新华保险 | ...

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份內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 於本公告日期，本公司董事長、執行董事為楊玉成；執行董事龔興峰；非執行董 事為楊雪、毛思雪、胡愛民和張曉東；及獨立非執行董事為馬耀添、賴觀榮、徐 徐、郭永清和卓志。 海外監管公告 本公告乃新華人壽保險股份有限公司（「本公司」）依據《香港聯合交易所有限公司證券 上市規則》第 13.10B 條規定而作出。茲載列該公告如下，僅供參閱。 承董事會命 新華人壽保險股份有限公司 楊玉成 董事長 中國北京，2025年8月28日 3、在提出本意见前，监事会未发现参与公司上述报告编制和审议的人员有 1 / 2 | 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 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 ...

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份內容而產生或 因倚賴該等內容而引致之任何損失承擔任何責任。 海外監管公告 本公告乃新華人壽保險股份有限公司（「本公司」）依據《香港聯合交易所有限公司證券 上市規則》第 13.10B 條規定而作出。茲載列該公告如下，僅供參閱。 承董事會命 新華人壽保險股份有限公司 楊玉成 董事長 中國北京，2025年8月28日 於本公告日期，本公司董事長、執行董事為楊玉成；執行董事龔興峰；非執行董 事為楊雪、毛思雪、胡愛民和張曉東；及獨立非執行董事為馬耀添、賴觀榮、徐 徐、郭永清和卓志。 A股证券代码：601336 A股证券简称：新华保险 编号：2025-047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 第八届董事会第三十六次会议决议公告 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"公司"）于 202 ...

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之內容概不負責，對其 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容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 NEW CHINA LIFE INSURANCE COMPANY LTD. 01336 截至2025年6月30日止六個月的未經審計中期業績公告 新華人壽保險股份有限公司（「本公司」）董事會謹此宣佈本公司及附屬公司截至2025年6月 30日止6個月的未經審計業績公告。本公告刊載本公司2025年中期報告全文，並符合香 港聯合交易所有限公司（「香港聯交所」）證券上市規則中有關中期業績初步公告附載的資 料之要求。 本業績公告的中英文版本可在本公司網站(www.newchinalife.com)和香港聯交所網站 (www.hkexnews.hk)查閱。本公司2025年中期報告亦將於9月上旬刊發於上述本公司網站 及香港聯交所網站，並寄發予已表示希望收取本公司通訊之印刷版的本公司H股股東。 承董事會命 新華人壽保險股份有限公司 楊玉成 董事長 中國北京，2025年8月28日 於本公告日期，本公司董事長、執行董事為楊玉 ...

Financial Performance - The company's operating revenue increased by 22.7% to RMB 121.26 billion [5] - New Business Value (NBV) significantly grew by 58.4% [5, 7] - Net profit attributable to shareholders of the company increased by 33.5% to RMB 14.8 billion [5, 12] - The annualized total investment yield increased by 1.1 percentage points to 5.1% [5, 35] - Total assets increased by 8.1% to RMB 1.78 trillion [5] Business Growth and Channels - Gross Written Premium (GWP) increased by 26.0% to RMB 279.39 billion [5] - First Year Premium (FYP) from long-term insurance business increased by 113.1% to RMB 39.622 billion [19] - Renewal premiums increased by 1.5% to RMB 78.831 billion [19] Investment and National Strategies - Investment balance in the real economy exceeded RMB 1.21 trillion [14] - Investment in the "Five Priorities" approached RMB 150 billion [14] - Investment balance in Technology Finance increased by 200% to exceed RMB 22.7 billion [15] - Investment balance in Green Finance increased by 29.3% to exceed RMB 60.5 billion [15]

Investment Rating - The report maintains an "Accumulate" rating for the insurance industry [1] Core Insights - In July, the life insurance premium growth rate significantly increased, while the property insurance business remained stable [1] - The life insurance companies' original premium income for the first seven months of 2025 reached 33,203 billion yuan, a year-on-year increase of 7.5%, with a total premium income of 37,498 billion yuan, up 6.4% year-on-year [4] - The report anticipates a shift towards dividend insurance products following adjustments in the preset interest rates, indicating a positive outlook for the industry's liability cost optimization [4] - The health insurance premium in July showed a year-on-year increase of 2.6%, marking a return to positive growth [4] - The property insurance companies' premium income for the first seven months of 2025 was 10,933 billion yuan, reflecting a year-on-year increase of 5.1% [4] - The report highlights that the market's savings demand remains strong, and the liability costs are expected to gradually decrease, alleviating pressure from interest rate differentials [4] Summary by Sections Life Insurance - July's single-month life insurance premium reached 3,447 billion yuan, a year-on-year increase of 26.2%, with a notable acceleration from June's growth [4] - The new investment contributions from policyholders showed a year-on-year decrease of 1% for the first seven months, but July saw a significant increase of 21% [4] Health Insurance - The health insurance premium for July was 2.6% higher year-on-year, reversing the negative trend observed in June [4] - The report emphasizes the potential for long-term growth in health insurance through the integration of various health-related services [4] Property Insurance - The property insurance premium for July increased by 5.3% year-on-year, with non-auto insurance business showing improved growth [4] - The report notes that the growth in non-auto insurance premiums was driven by health insurance, with specific segments like health and accident insurance showing substantial increases [4] Market Outlook - The report indicates that the valuation of the insurance sector remains at historical lows, with expected valuations for 2025 ranging from 0.64 to 0.95 times PEV and 1.10 to 2.24 times PB [4] - The report concludes that the leading insurance companies are likely to maintain robust growth and profitability, particularly in the context of ongoing reforms [4]

从资金流向上来看，当日保险板块主力资金净流出15.62亿元，游资资金净流入3.48亿元，散户资金净流 入12.14亿元。保险板块个股资金流向见下表： 证券之星消息，8月27日保险板块较上一交易日下跌2.74%，新华保险领跌。当日上证指数报收于 3800.35，下跌1.76%。深证成指报收于12295.07，下跌1.43%。保险板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 601628 | 中国人寿 | 41.66 | -2.46% | 25.08万 | | 10.56 Z | | 601319 | 中国人保 | 8.52 | -2.52% | 86.53万 | | 7.45亿 | | 601601 | 中国太保 | 39.74 | -2.88% | 34.49万 | | 13.83亿 | | 601318 | 中国平安 | 58.69 | -3.02% | 106.46万 | | 63.25 7 | | 601336 | 新华保险 | 63.75 | -3 ...

Core Insights - Xinhua Insurance achieved a cumulative original insurance premium income of 137.8 billion yuan in the first seven months of 2025, representing a year-on-year growth of 23%, continuing its steady growth trend this year [1] Group 1: High-Quality Development - The company emphasizes high-quality development as the core driving force, integrating into the national development strategy and focusing on customer-centric, professional, market-oriented, and systematic reforms [1] - Xinhua Insurance has enriched its product offerings with over 100 products available, focusing on the second and third pillar business opportunities, particularly in the aging economy [2] - The company aims to enhance customer satisfaction through improved claims experiences, achieving a total of 2.41 million claims with a payout amount of 7.3 billion yuan in the first half of 2025, with an average claim processing time of just 0.72 days [2] Group 2: Serving National Strategy - Xinhua Insurance supports the real economy with investments exceeding one trillion yuan, aligning its operations with national strategies [3] - The company has provided risk protection for over 30,000 corporate clients, amounting to approximately 14.5 trillion yuan, and has undertaken 20 public welfare insurance projects [3] - Investments in key national areas have increased by nearly 60% year-on-year, focusing on technology innovation, industrial upgrades, and low-carbon development [3] Group 3: Reform and Innovation - The company is committed to deepening its reforms across products, services, teams, and institutional construction to build multiple core advantages [4] - Xinhua Insurance is enhancing its product framework to offer comprehensive insurance coverage and is actively transforming its dividend insurance products to meet customer wealth preservation needs [4] - The company is also upgrading its service capabilities and expanding its service offerings across various domains, including healthcare and legal services [4] Group 4: Industry Outlook - The insurance industry is entering a golden opportunity period for high-quality development, supported by national policies and regulatory guidance [5] - Xinhua Insurance aims to implement the new national guidelines, focusing on large-scale products, markets, services, and investments to enhance its development capabilities [5]

Core Viewpoint - The insurance sector is experiencing a decline in stock prices, with major companies like New China Life, China Pacific Insurance, and China Life seeing significant drops in their share prices, indicating market concerns about the sector's performance [1][1][1] Company Performance - China Ping An reported a year-on-year decline in net profit for the first half of the year, but operating profit showed a year-on-year increase, attributed to three main factors: one-time accounting adjustments, issuance of convertible bonds, and unrealized gains from investments in listed companies not reflected in the profit statement [1][1][1] - The CFO of China Ping An suggested that the market should focus more on operating profit metrics rather than net profit figures [1][1][1] Market Trends - Longcheng Securities noted that the ten-year government bond yield has risen to around 1.78%, influenced by policies related to capacity reduction and market fluctuations in the insurance sector [1][1][1] - According to a recent survey by the Insurance Asset Management Association, stocks are the preferred investment asset for insurance institutions in the second half of 2025, followed by bonds and securities investment funds [1][1][1] - The insurance sector is viewed with cautious optimism regarding its allocation value despite the high volatility observed [1][1][1]