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。 格隆汇12月3日丨新华保险(601336.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31.20亿股为基数，每股派发现金红利人民币0.67元（含税），共计派发现金红利人民币 20.90亿元。 ...

格隆汇12月3日丨新华保险(601336.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31.20亿股为基数，每股派发现金红利人民币0.67元（含税），共计派发现金红利人民币 20.90亿元。 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。 ...

A 股证券代码：601336 A 股证券简称：新华保险 公告编号：2025-065 H 股证券代码： 01336 H 股证券简称：新华保险 (一) 辞任的基本情况 | | | | | 是否继续在上 | 是否存在未 | | --- | --- | --- | --- | --- | --- | | 姓名 | 辞任职务 | 辞任时间 | 辞任原因 | 市公司及其控 | 履行完毕的 | | | | | | 股子公司任职 | 公开承诺 | | | | 年 月 日 2025 12 3 | | | | | | 独立董事，董事 | | | | | | | 会提名薪酬委员 | (将继续履行独立董事 | | | | | | | 及其董事会专业委员 | 担任独立董 | | | | | 会委员及风险管 | | | 否 | | | 马耀添 | | 会职责直至本公司新 | 事满六年 | | 否 | | | 理与消费者权益 | 任独立董事任职资格 | | | | | | 保护委员会委员 | | | | | | | | 获核准) | | | | (二) 辞任对本公司的影响 根据相关法律法规、本公司股票上市地证券监管机构要求和《新华人寿保险 ...

| 股证券代码：601336 | 股证券代码： | | | | | | --- | --- | --- | --- | --- | --- | | 01336 | | | | | | | A | | | H | | | | 股证券简称：新华保险 | | | | 股证券简称：新华保险 | 公告编号：2025-064 | | A | | H | | | | 新华人寿保险股份有限公司 2025年半年度权益分派实施公告 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。 重要内容提示： 每股分配比例 A 股每股现金红利人民币0.67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 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/12/11 | － | 2025/12/12 | 2025/12/12 | 差异化分红送转： 否 本次利润分配方案经新华人寿保险股份有限公司（以下简称"本公司"）2025 年 10 月 31 日的 ...

新华保险12月3日公告，公司董事会于2025年12月3日收到独立董事马耀添的辞职函，马耀添因担任独立 董事满六年，根据相关监管规定辞去公司独立董事、董事会提名薪酬委员会委员及风险管理与消费者权 益保护委员会委员职务。马耀添将继续履行独立董事及其在董事会专业委员会中的相关职责，直至公司 股东大会选举产生新任独立董事且新任独立董事任职资格获得监管机构核准。 ...

Group 1 - The core idea of the article is that the insurance industry is increasingly focusing on the "travel and health" sector as a new opportunity in the aging economy, integrating health protection, travel experiences, and quality living for the elderly [1][3][4] - Xinhua Insurance has launched a new health and wellness base in Huizhou, enhancing its travel and health strategy, and has established a network covering 45 cities and 55 projects nationwide [2][4] - The market for travel and health services is expected to grow significantly, driven by government policies aimed at promoting elderly welfare and the integration of tourism and health services [3][5] Group 2 - The insurance industry has adopted a "light asset, heavy service" model, collaborating with hotels and third-party service providers to expand travel and health communities [4][5] - Challenges in the travel and health industry include service standardization, emergency support, and talent supply, which companies like Xinhua Insurance are addressing through rigorous partner selection and ongoing project evaluations [5][6] - The future of the insurance travel and health sector is expected to see increased competition, a growing elderly demographic, and higher consumer expectations for service quality [6]

Summary of Xinhua Insurance Conference Call Company Overview - **Company**: Xinhua Insurance - **Focus**: Life insurance, particularly dividend insurance products Key Points Industry and Market Dynamics - **Focus on Dividend Insurance**: In 2026, Xinhua Insurance will prioritize the sale of dividend insurance products, while 2025 will focus on traditional products [2][3] - **Bank Insurance Channel Preparation**: The bank insurance channel is actively preparing for growth, including channel expansion and product development to address high growth challenges [2][3] - **Impact of Regulatory Changes**: The shift to a unified reporting system (报行合一) has a significant impact on the bank insurance channel, while the individual insurance channel is less affected [2][8] Sales and Product Strategy - **Sales Performance**: The company has initiated pre-sales for the individual insurance channel, with initial data meeting expectations [3][5] - **Product Strategy Shift**: The individual insurance channel will shift focus to dividend insurance in 2026, while traditional products dominate in 2025 [3][5] - **Dividend Insurance Transition**: As of the latest reports, dividend insurance accounted for approximately 12% of new policies, with over 70% in the marketing channel by Q3 [2][11] Financial Performance and Investment Strategy - **Investment Returns**: Strong investment returns over the past two years have laid a foundation for the dividend realization rate, aiding acceptance of dividend products by banks and clients [2][6] - **Core Equity Asset Allocation**: The company maintains a high level of core equity asset allocation, with plans to consider further increases based on market conditions, though space for significant increases is limited [4][15] Competitive Landscape - **Increased Competition**: The removal of the 1+3 outlet restriction has intensified competition in the bank insurance sector, but it is seen as beneficial for larger companies like Xinhua Insurance [2][10] - **Expansion Plans**: The company plans to increase the number of outlets and enhance internal team capabilities to drive growth in 2026 [11] Regulatory and Policy Considerations - **Expense Management**: The company is optimizing back-office expenses to support front-end sales and agent commissions, ensuring stable overall value contribution [8][9] - **Future Profitability**: The individual insurance channel is expected to adapt well to the unified reporting policy, with limited impact on profitability compared to the bank insurance channel [9] Health Insurance Product Development - **New Product Research**: The company is exploring dividend-based critical illness insurance to enhance the attractiveness of health insurance products [4][12] Short-term Payment Strategy - **Short-term Payment Focus**: Short-term payment strategies have been a significant resource investment, with plans to maintain stable investment levels in 2026 [13] Long-term Investment Outlook - **Investment Yield Expectations**: The company anticipates a long-term investment yield of around 4%, with current market conditions exerting downward pressure on net investment income [22][23] Dividend Policy Considerations - **Dividend Policy Framework**: The specific dividend policy will be determined post-annual report, typically based on net profit ratios and other financial considerations [25] Tax and Accounting Standards - **Tax Treatment**: The company applies new accounting standards for tax calculations, which may differ from actual tax payments based on old standards [27] This summary encapsulates the key insights from the conference call, highlighting the strategic direction, market challenges, and financial outlook of Xinhua Insurance.

Core Insights - The A-share market has shown enthusiasm for undervalued sectors, with significant gains in indices for communication, oil and petrochemicals, banking, light manufacturing, textiles, and home appliances as of December 2 [1] - A list of quality stocks with valuations at historical lows has been identified, with 24 stocks receiving ratings from five or more institutions, indicating potential for future outperformance [1][2] - The insurance sector is highlighted as a favorable investment choice due to low valuations and expected growth in liabilities, with several insurance stocks having rolling P/E ratios below 7 times [2] Group 1: Market Performance and Valuation - As of December 2, indices for sectors like oil and petrochemicals, banking, textiles, and home appliances are at low valuation levels, with some individual stocks reaching historical highs [1] - Notable stocks with low valuations include New China Life Insurance, China Pacific Insurance, and China Life Insurance, all with P/E ratios below 7, and New China Life Insurance at less than 6 [2][4] - Stocks like Langzi Co. and Beijing Human Resources also have P/E ratios below 10, while others like Guangzhou Development and Batian Co. have P/E ratios under 15 [2] Group 2: Growth Potential and Institutional Ratings - Some stocks are experiencing significant price declines, such as Aibo Medical and Polaroid, with year-to-date declines exceeding 10% [3] - Conversely, stocks like Guangda Special Materials have seen a price increase of 43.76% this year, resulting in a P/E ratio of 21.49, attributed to a substantial profit increase of nearly 214% in the first three quarters [3] - Institutions predict substantial upside potential for several stocks, with targets indicating over 50% upside for companies like Xueda Education and Beijing Human Resources [3][4] Group 3: Recent Negative Developments - ST Yuanzhi (002689) faced a significant drop, closing at 4.33 yuan per share with a 5.04% decline and over 133,000 sell orders, following an announcement of administrative penalties from the Liaoning Securities Regulatory Bureau [5]

专题：香港大埔火灾，金融机构火速驰援 12月2日金融一线消息，新华保险发布公告称，公司2025年12月2日以电子邮件方式向全体董事发出第八 届董事会第四十次会议（以下简称"会议"）通知和材料，会议于2025年12月2日在北京市以现场方式召 开，审议通过了《关于新华资产管理（香港）有限公司支援香港火灾捐赠事项的议案》。 责任编辑：王馨茹 专题：香港大埔火灾，金融机构火速驰援 12月2日金融一线消息，新华保险发布公告称，公司2025年12月2日以电子邮件方式向全体董事发出第八 届董事会第四十次会议（以下简称"会议"）通知和材料，会议于2025年12月2日在北京市以现场方式召 开，审议通过了《关于新华资产管理（香港）有限公司支援香港火灾捐赠事项的议案》。 A股证券代码:601336 A股证券简称:新华保险 编号:2025-063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 第八届董事会第四十次会议决议公告 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 ...

Core Insights - The report emphasizes the dual-driven business model of the insurance industry, focusing on both assets and liabilities, with a long-term outlook on liability cost optimization driving valuation recovery [8][9] - The insurance sector is currently at a cyclical turning point, with improving operational quality and a focus on cost reduction strategies, particularly in life insurance [9][10] Industry Overview - The insurance sector's total market capitalization is approximately 32,040.19 billion, with a circulating market value of 22,048.26 billion [4] - The report indicates a significant increase in the insurance index, with a 13.8% rise over the past 12 months, although it has underperformed relative to the broader market in the last six months [5] Company Profit Forecasts and Valuations - Key companies such as China Life, China Pacific, and Ping An are projected to have varying EPS growth rates, with China Life expected to see EPS of 6.34 in 2025 and 4.10 in 2026, while Ping An is forecasted to reach 8.02 in 2025 and 8.83 in 2026 [3] - The report maintains a "Buy" recommendation for several companies, including China Life and China Pacific, based on their projected performance and valuation metrics [3] Investment Themes - The report highlights the importance of the "cost reduction trifecta" in life insurance, focusing on product innovation, channel expansion, and dynamic adjustment of preset interest rates [8][9] - In property insurance, the "reporting and operation integration" is expected to optimize costs and enhance profitability, particularly in non-auto insurance segments [9][10] Short-term and Long-term Outlook - Short-term performance is closely tied to equity market trends, with expectations of continued growth in 2025, but potential pressure on performance in 2026 due to investment factors [9][10] - Long-term, the report anticipates that improvements in life insurance costs will drive valuation recovery, with a projected NBV growth rate of over 15% for listed insurance companies in 2026 [9][10] Regulatory Environment - The introduction of a dynamic adjustment mechanism for preset interest rates is expected to alleviate liability costs and enhance the attractiveness of dividend insurance products [24][38] - Recent regulatory guidance aims to stabilize dividend levels in insurance products, preventing excessive competition and ensuring sustainable growth [38][39]