Summary of Xinhua Insurance Conference Call Company Overview - **Company**: Xinhua Insurance - **Date**: May 29, 2025 Key Points Industry and Product Strategy - Xinhua Insurance focused on increasing the sales of whole life insurance in Q1 2025, transitioning to dividend insurance in Q2, aiming for dividend insurance new business premium to account for 30% of the annual target by the end of June [2][3] - The company views the "reporting and operation integration" policy as an opportunity, aiming to reduce costs through refined management and digital governance, aligning with its high-quality development strategy [2][5] - A diversified product strategy is maintained, with an emphasis on risk management development and balanced growth in water and risk insurance [2][6] Financial Performance - In Q1 2025, the 10-year and above premium income experienced negative growth due to a focus on short-term products, but a shift to long-term products is expected to boost premium income after the rollout of dividend insurance in June [2][7] - The company reported a decrease in liability costs over the past two years, with current liability costs around 3.5%-3.6% and new business growth under 3% [4][9] Sales and Commission Structure - The commission rates for agents remain stable across different products, with a focus on long-term incentives rather than short-term rewards [5][18] - The company has implemented a KPI system for agent training and performance, aiming to stabilize and potentially increase the agent workforce [17][18] Investment Strategy - Xinhua Insurance's investment strategy focuses on value investment and absolute returns, particularly in technology growth and national strategic directions, while also increasing allocations to long-term government bonds [4][11] - The average yield of high-dividend stocks held by the company is over 4%, with a total scale of approximately 30 billion [12][14] Regulatory and Market Environment - The "reporting and operation integration" policy is seen as beneficial for optimizing operational models and enhancing professionalization [5][18] - The company is closely monitoring changes in the yield curve and adjusting its asset-liability management accordingly [9][10] Future Outlook - The company plans to continue enhancing its compliance and operational stability in the face of market uncertainties, with a focus on maintaining a balance between scale and value in its insurance products [11][18] - Future dividend policies will be determined based on profit realization, shareholder expectations, and business development needs [17] Collaboration and Market Position - Xinhua Insurance collaborates with over 50 banks, including major state-owned banks, to enhance its distribution channels [19][18] - The company is considering increasing its participation in long-term investment reforms as regulatory support allows [20] This summary encapsulates the key insights from the conference call, highlighting the strategic direction, financial performance, and market positioning of Xinhua Insurance.

Group 1 - The core purpose of the Nomination and Remuneration Committee is to assist the board of directors in fulfilling its responsibilities regarding the nomination and remuneration of directors and senior management [1][2] - The committee is composed of at least three non-executive directors, with a majority being independent directors [2][3] - The committee's main responsibilities include drafting selection criteria for directors and senior management, evaluating the board's structure, and proposing remuneration plans [3][4] Group 2 - The committee has the authority to conduct investigations related to its responsibilities and can request reports from senior management [4][5] - Regular meetings are held four times a year, with provisions for additional meetings as needed [5][6] - The committee must report its work to the board annually and can submit interim reports as necessary [4][10] Group 3 - The committee is responsible for evaluating the independence of independent directors and proposing candidates for various board committees [3][8] - Procedures for nominating directors and senior management include written submissions and evaluations based on legal and regulatory requirements [7][8] - The committee also oversees the performance assessment and remuneration of senior management, ensuring alignment with the company's strategic goals [9][10]

Core Viewpoint - The board of directors of New China Life Insurance Co., Ltd. held its 33rd meeting of the 8th session, where several key resolutions were passed regarding financial and operational management for the upcoming years [1]. Group 1: Meeting Resolutions - The board approved the "2024 Solvency Stress Test Report" with unanimous support [1]. - The "2025-2027 Capital Planning Report" was also approved unanimously [1]. - The board passed a resolution to amend the working rules of the board's professional committees, receiving unanimous approval [1]. - The "2024 Asset-Liability Management Annual Report" was approved with unanimous votes [1]. - The board approved the amendment of the "Internal Audit Policy" unanimously [1]. - The "Company Recovery Plan (2025 Version)" was approved unanimously [1]. - The board passed the amendment of the "Operational Risk Management System" unanimously [1]. - The "2025 Risk Appetite Statement" was approved unanimously [1]. - The board approved the appointment of the chairpersons of the functional committees under the executive committee, with 8 votes in favor, while 2 directors abstained from voting [1].

Group 1 - The company will hold its 2024 Annual General Meeting (AGM) on June 27, 2025, at 14:30 in Beijing [5][9] - Voting will be conducted through a combination of on-site and online methods using the Shanghai Stock Exchange voting system [5][6] - Shareholders can vote during specific time slots on the day of the AGM, with online voting available from 9:15 to 15:00 [5][6] Group 2 - The AGM will review the 2024 annual related party transaction situation and internal transaction evaluation report [3] - There are no special resolutions or related party shareholders required to abstain from voting [5] - The company will provide reminders to small and medium investors to ensure their participation in the voting process [6][7] Group 3 - Shareholders must register to attend the AGM, with specific requirements for both individual and corporate shareholders [8][9] - The registration period for the AGM is from 13:30 to 14:30 on June 27, 2025 [9] - The company will cover the contact details for inquiries related to the AGM [13]

新华人寿保险股份有限公司 董事会提名薪酬委员会工作细则 第一章 总 则 第一条 为便于新华人寿保险股份有限公司（下称"公司"） 董事会提名薪酬委员会规范、高效开展工作，公司董事会根据《新 华人寿保险股份有限公司章程》（下称《公司章程》）、《董事会议 事规则》和相关法律、法规、规范性文件的规定，制定本细则。 第二条 提名薪酬委员会(下称"委员会")是根据《公司章 程》规定设立的董事会专业委员会，对董事会负责，根据董事会 授权协助董事会履行职责，就相关议案进行审议后形成专业意见 提交董事会。 第二章 人员组成 第三条 委员会委员由公司董事会选举产生，由三名以上非 执行董事组成，其中独立董事应占多数。 第四条 委员会委员应当具有较强的识人、用人和薪酬管理 能力，具备五年以上在企事业单位或者国家机关担任领导或者管 理职务的任职经历。 （四）提议召开临时会议； 1 / 11 第五条 委员会设主任委员一名，由独立董事担任。主任委 员的职责主要为： （一）负责召集、主持委员会会议，组织委员会有效运作并 履行职责； （二）督促、检查委员会的工作； （三）确定每次会议的议题和议程； （五）向董事会报告委员会的工作； （六）董事 ...

A 股证券代码：601336 A 股证券简称：新华保险 公告编号：2025-030 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 关于召开2024年年度股东大会的通知 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。 重要内容提示： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2024年年度股东大会（以下简称"本次股东大会"或"股东大会"） （四） 现场会议召开的日期、时间和地点 股东大会召开日期：2025年6月27日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 召开的日期时间：2025 年 6 月 27 日 14 点 30 分 召开地点：北京市朝阳区建国门外大街甲 12 号新华保险大厦 21 层 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 6 月 27 日至2025 年 6 月 27 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 ...

新华人寿保险股份有限公司 第八届董事会第三十三次会议决议公告 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 2025 年 5 月 21 日以电子 邮件方式向全体董事发出第八届董事会第三十三次会议（以下简称"会议"）通知 和材料，会议于 2025 年 5 月 28 日在北京市以现场方式召开。会议应到董事 10 人，现场出席董事 10 人，公司监事和高级管理人员列席了会议。会议的召集、 召开符合《中华人民共和国公司法》《新华人寿保险股份有限公司章程》和《新 华人寿保险股份有限公司董事会议事规则》的有关规定，所作的决议合法、有效。 会议由公司董事长杨玉成主持，经与会董事审议和现场表决，形成如下会议 决议： 一、审议通过了《关于 2024 年度偿付能力压力测试报告的议案》。 公司董事会审计与关联交易控制委员会已审议通过此项议案。 A股股票代码：601336 A股股票简称：新华保险 编号：2025-029号 H股股票代码： 01336 H股股票简称：新华保险 表决情况 ...

新华人寿保险股份有限公司 2024 年年度股东大会 会议材料 二〇二五年五月二十八日 北京 1/31 新华人寿保险股份有限公司 2024 年年度股东大会议程 会 议 时 间 ：2025 年 6 月 27 日（星期五）下午 14 点 30 分 会 议 地 点 ：北京市朝阳区建国门外大街甲 12 号新华保险大厦 21 层 会议召集人：新华人寿保险股份有限公司董事会 议程内容 一、宣布会议开始及会议议程 二、审议议案及听取事项 （一）普通决议事项 1. 关于 2024 年度董事会报告的议案 2. 关于 2024 年度监事会报告的议案 3. 关于 2024 年度董事尽职报告的议案 4. 关于 2024 年度监事尽职报告的议案 5. 关于 2024 年度独立董事述职报告的议案 6. 关于 2024 年年度报告（A 股/H 股）的议案 7. 关于 2024 年财务决算的议案 8. 关于 2024 年度利润分配方案的议案 9. 关于续聘 2025 年度会计师事务所的议案 （二）听取事项 10. 听取《2024 年度关联交易情况和内部交易评估报告》 三、回答股东提问 四、宣布出席会议股东及股东代理人人数、代表股份数 五、现场 ...

Group 1 - The core viewpoint emphasizes the shift in insurance from "post-loss compensation" to "lifecycle risk management," focusing on risk prevention and health management to reduce uncertainty in future expenditures [1] - Insurance companies are collaborating with medical institutions and health management firms to create a "prevention-diagnosis-rehabilitation" closed loop, which helps consumers lower expected medical expenses and redirect savings towards education and tourism consumption [1] - From a retirement planning perspective, insurance companies are developing a "guarantee-industry-consumption" ecosystem through building retirement communities and collaborating with elderly care institutions, enhancing related industries such as healthcare and tourism [1] Group 2 - National policies are providing significant support to consumers, such as urban inclusive insurance products and personal pension plans, which alleviate potential expenditure pressures and enhance current consumption capabilities [2]

Core Viewpoint - The article discusses the expansion of the insurance fund long-term investment pilot program, highlighting the inclusion of more small and medium-sized insurance companies in the third batch of trials, which aims to innovate investment models and inject additional capital into the market [2][4][12]. Group 1: Pilot Program Expansion - The third batch of the long-term investment pilot program will include new small and medium-sized insurance companies, differing from previous batches that primarily involved large insurers [2][3]. - The Financial Regulatory Administration plans to approve an additional 600 billion yuan for the pilot program, increasing the total scale to 2,220 billion yuan [2][11]. - Among the newly approved participants is China Post Insurance, which will contribute 100 billion yuan to the pilot [4]. Group 2: New Investment Models - The third batch will see a new model where private fund managers and investors come from different insurance systems, allowing smaller insurers to invest in funds managed by established insurance asset management companies [5][6]. - This model allows smaller insurers without their own asset management companies to participate in the pilot by investing in existing private funds [6][7]. - The establishment of private fund companies incurs significant costs, prompting smaller insurers to prefer investing in existing funds rather than creating their own [7]. Group 3: Market Interaction and Benefits - The pilot program aims to alleviate investment barriers for insurance funds, enabling better interaction between insurance capital and the market [12]. - The program's accounting methods, such as equity method accounting and OCI asset measurement, help reduce the impact of market volatility on insurers' profit statements [12]. - The pilot also offers preferential policies for participating private funds, enhancing the stability of insurance companies' profits and promoting long-term investment [12].