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通告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本通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。 董事會會議通告 新華人壽保險股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈， 本公司將於二零二五年十月三十日（星期四）舉行董事會會議，藉以(其中包括) 考慮及批准本公司及其附屬公司截至二零二五年九月三十日止九個月之第三季 度業績及其發佈，以及處理其他事項。 承董事會命 新華人壽保險股份有限公司 楊玉成 董事長 中國北京，二零二五年十月十六日 於本通告日期，本公司董事長、執行董事為楊玉成；執行董事為龔興峰；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。 ...

Core Viewpoint - Xinhua Insurance (01336) reported a cumulative original insurance premium income of RMB 172.705 billion for the period from January 1, 2025, to September 30, 2025, representing a year-on-year growth of 19% [1] Group 1 - The company achieved a total original insurance premium income of RMB 172.705 billion [1] - The year-on-year growth rate of 19% indicates a strong performance in the insurance sector [1]

智通财经APP获悉，国泰海通发布研报称，25Q3权益市场整体向好，叠加保险公司优化资产结构提升 权益资产配置，预计投资收益显著提振，预测25年前三季度上市险企净利润在2024年同期高增长基础上 继续同比大幅增长，且较25年半年度的利润增长进一步提速。25年1-8月寿险保费增长景气，预计得益 于上市险企把握定价利率下调前窗口期推动新单集中销售，银保渠道日益成为价值增长的重要贡献来 源。财险方面，预计车险综改持续深化以及非车险"报行合一"导向下行业保费增长逐步由追求规模、速 度向追求质量、效益转变。 国泰海通主要观点如下： 预计财险保费缓慢增长，巨灾赔付提升不改COR改善趋势 预计车险综改持续深化以及非车险"报行合一"导向下行业保费增长逐步由追求规模、速度向追求质量、 效益转变。受制于25Q3台风等自然灾害仍然频发，预计赔付率仍有一定压力，得益于风险减量持续显 效预计对COR负面影响相对有限；另一方面，得益于上市险企严格落实监管"报行合一"强化费用管控， 预计费用率持续改善。预计25年前三季度上市险企COR延续改善态势，分别为：中国财险(96.1%，同 比-2.1pt)、平安财险(96.6%，同比-1.2pt)、 ...

Core Viewpoint - The A-share insurance sector has been experiencing a rebound since October, with significant gains in the insurance index and individual insurance companies, indicating a positive market sentiment and investment opportunities in the sector [2][3]. Group 1: Market Performance - Since October 9, the insurance index has increased by 7.96%, while the CSI 300 index has decreased by 0.42% [3]. - As of October 16, the insurance index rose by 2.04% during the morning session, leading the A-share market [2]. - Over the past five trading days, major insurance companies such as China Life, China Pacific Insurance, and New China Life have seen stock price increases of 6.99%, 7.71%, and 10.78% respectively [2]. Group 2: Company Earnings and Profit Sources - New China Life's third-quarter earnings forecast indicates a net profit increase of 93.06 million to 134.42 million, representing a year-on-year growth of 45% to 65% [3]. - The profit sources for insurance companies include interest spread, mortality spread, and expense spread, with interest spread being significantly influenced by investment returns and liability costs [3]. - For instance, in 2020, the interest spread from life and health insurance for China Ping An accounted for approximately 40.7% of new business value [3]. Group 3: Investment Outlook and Regulatory Environment - The overall performance of the A-share market since 2025 has been strong, with insurance companies' investment returns expected to improve, contributing to the valuation recovery of insurance stocks [4]. - Historical data shows that since the listing of insurance stocks in 2007, the insurance index has risen by 165%, outperforming the market by 55% [4]. - Recent regulatory actions, such as the guidelines for promoting high-quality health insurance and the notification on non-auto insurance business regulation, are expected to enhance product innovation and improve profitability in the insurance sector [5].

Core Viewpoint - The company reported a cumulative original insurance premium income of 172.7 billion RMB [1] Group 1 - The cumulative original insurance premium income reached 172.7 billion RMB [1]

证券之星消息，10月16日保险板块较上一交易日上涨3.01%，中国人寿领涨。当日上证指数报收于 3916.23，上涨0.1%。深证成指报收于13086.41，下跌0.25%。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 | 42.80 | 5.16% | 59.75万 | | 25.36 Z | | 601319 | 中国人保 | 8.55 | 4.01% | 181.06万 | | 15.36亿 | | 601601 | 中国太保 | 37.70 | 2.17% | 63.14万 | | 23.77亿 | | 601336 | 新华保险 | 68.63 | 1.12% | 42.76万 | | 29.45 Z | | 601318 | 中国平安 | 58.02 | 0.36% | 68.15万 | | 39.66亿 | | 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 ...

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分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 保費收入公告 根據中華人民共和國財政部《企業會計準則第 25 號——原保險合同》（財會〔2006〕3 號）及《保險 合同相關會計處理規定》（財會〔2009〕15 號），新華人壽保險股份有限公司（「公司」）於 2025 年 1 月 1 日至 2025 年 9 月 30 日期間累計原保險保費收入為人民幣 17,270,462 萬元，同比增長 19%。 公司始終秉持「以客戶為中心」的戰略導向，持續打造「保險+服務+投資」三端協同的高質量、可 持續發展模式，深入推進體系化、專業化、市場化改革；聚焦保險業務價值增長、結構優化和品質提 升，加快推進分紅險轉型；升級強基工程，推動分支機搆做優做強；持續推進營銷隊伍建設和渠道 建設，全面打造服務賦能體系，築牢高質量發展根基。 上述累計原保險保費收入數據未經審計，提請投資者注意。 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10月16日 於本 ...

Core Viewpoint - The insurance sector in A-shares is expected to see a significant increase in net profit for Q3 2025, driven by strong performance in the equity market, with a projected year-on-year growth of 26.7% to 186.49 billion yuan [1] Group 1: Profit Forecasts - For the first three quarters of 2025, the total net profit of A-share listed insurance companies is expected to grow by 14.3% year-on-year to 364.68 billion yuan, with Q3 alone showing a remarkable growth of 26.7% [1] - New China Life Insurance is projected to have a net profit growth of 54.2% year-on-year, while China Life and China Pacific Insurance are expected to grow by 18.1% and 14.1%, respectively [1] Group 2: New Business Value (NBV) Insights - The expected decline in preset interest rates is anticipated to boost the NBV of listed insurance companies, with New China Life projected to grow by 49.7% year-on-year [2] - The preset interest rate for ordinary life insurance products has been lowered, which is expected to lead to a surge in product demand and support NBV growth [2] Group 3: Property and Casualty Insurance Performance - The property and casualty insurance sector is expected to show continued improvement in the combined ratio (COR) due to a low base effect, with a projected COR of 96.4% for China Property Insurance [3] - The total premium income for property and casualty insurance companies reached 1.22 trillion yuan, reflecting a year-on-year growth of 4.7% [3] Group 4: Investment Environment - The equity market has shown strong performance, with the CSI 300 index increasing by 17.9% in Q3 2025, which is expected to benefit insurance companies that are well-positioned to capitalize on growth opportunities [4] - The long-term interest rates have seen a slight increase, which may exert pressure on certain bond classifications but is overall favorable for the insurance service sector [4] Group 5: Investment Recommendations - The insurance sector is viewed positively, particularly for undervalued companies with strong Q3 performance catalysts, including China Life, New China Life, and China Pacific Insurance [5] - The recommendation emphasizes focusing on low-valuation and high-elasticity stocks within the insurance sector [5]

最近，市场风格多变。 周一，有色金属、半导体两大板块走势最强；周二，顺周期、高股息资产板块领涨；周三，市场风格趋于均衡，科技股、大消费、有色金属、大金融等板 块都有表现。 10月16日上午，市场最大的变化是——AI硬件概念中的大市值龙头股纷纷大涨，且成交额居A股排行榜前列。截至午间收盘，阳光电源上涨7.2%，成交额 为150.1亿元，居A股第一。此前公司表示，设立子公司开展AIDC电源业务。中兴通讯涨超7%、立讯精密涨超3%，成交额均超100亿元，居A股第二、三 位。此外，中际旭创、寒武纪、兆易创新等龙头股均上涨。存储芯片龙头香农芯创涨超19%，盘中一度"20CM"涨停，股价创历史新高。 截至午间收盘，上证指数上涨0.1%，深证成指上涨0.15%，创业板指上涨0.69%。 | 开普云 | 213.60 | 13.14% | 144亿 | | --- | --- | --- | --- | | 融 688228 | | | | | 蓝箭电子 | 24.95 | 11.53% | 38.7亿 | | 融 301348 | | | | | 佰维存储 | 116.00 | 11.11% | 409亿 | | 融 68 ...

Market Trends - The market has shown varied styles recently, with strong performances in sectors such as non-ferrous metals and semiconductors on Monday, cyclical and high-dividend assets on Tuesday, and a more balanced performance across technology, consumer goods, non-ferrous metals, and finance on Wednesday [1] AI Hardware and Semiconductor Sector - On October 16, major stocks in the AI hardware concept surged, with Sunshine Power rising by 7.2% and a trading volume of 15.01 billion yuan, leading the A-share market. Other notable performers included ZTE Corporation and Luxshare Precision, both exceeding 10 billion yuan in trading volume [1] - The storage chip sector saw significant gains, with Xiangnan Chip rising over 19%, hitting a historical high [3][4] Storage Chip Price Increases - Global manufacturers have raised storage chip prices, with Samsung Electronics announcing a price increase of 15% to 30% for some DRAM products and 5% to 10% for NAND flash products. Micron also raised prices by approximately 20% after resuming quotes [5][6] Storage Chip Industry Outlook - The storage chip industry is expected to enter a "super cycle" driven by the rapid development of AI, with projected global revenue reaching 170 billion USD in 2024 and 200 billion USD in 2025, fueled by demand from AI smartphones, PCs, and servers [6] Insurance Sector Performance - The insurance sector has been performing well, with companies like China Life and China Pacific Insurance showing notable gains. Recent catalysts include a strong earnings forecast from New China Life, predicting a net profit increase of 45% to 65% for the first three quarters of 2025 [7][8] - Regulatory support for health insurance development and the promotion of non-auto insurance business are expected to positively impact the insurance sector [9] Future Outlook for Insurance Sector - Analysts predict that listed insurance companies will maintain steady profit growth despite high base pressures, with favorable conditions for fixed-income asset allocation and optimistic expectations for new business value growth [10]