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。 中國太平洋保險（集團）股份有限公司 CHINA PACIFIC INSURANCE (GROUP) CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號：02601） 海外監管公告 本 海 外 監 管 公 告 乃 按 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」） 第13.09條、第13.10B條及香港法例第571章《證 券 及 期 貨 條 例》第XIVA部 下 之 內 幕 消 息 條 文（定 義 見 上 市 規 則）之 規 定 作 出。 茲 載 列 該 公 告 如 下，僅 供 參 考。 承董事會命 中 國 太 平 洋 保 險（集 團）股 份 有 限 公 司 傅 帆 董事長 香 港，2025年8月29日 於 本 公 告 日 期，本 公 司 執 行 董 事 為 傅 帆 先 生 和 ...

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。 中國太平洋保險（集團）股份有限公司 CHINA PACIFIC INSURANCE (GROUP) CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號：02601） 海外監管公告 本 海 外 監 管 公 告 乃 按 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」） 第13.09條、第13.10B條及香港法例第571章《證 券 及 期 貨 條 例》第XIVA部 下 之 內 幕 消 息 條 文（定 義 見 上 市 規 則）之 規 定 作 出。 茲 載 列 該 公 告 如 下，僅 供 參 考。 承董事會命 中 國 太 平 洋 保 險（集 團）股 份 有 限 公 司 傅 帆 董事長 香 港，2025年8月29日 於 本 公 告 日 期，本 公 司 執 行 董 事 為 傅 帆 先 生 和 ...

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。 中國太平洋保險（集團）股份有限公司 CHINA PACIFIC INSURANCE (GROUP) CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號：02601） 海外監管公告 本 海 外 監 管 公 告 乃 按 香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則（「上市規則」） 第13.09條、第13.10B條及香港法例第571章《證 券 及 期 貨 條 例》第XIVA部 下 之 內 幕 消 息 條 文（定 義 見 上 市 規 則）之 規 定 作 出。 茲 載 列 該 公 告 如 下，僅 供 參 考。 承董事會命 中 國 太 平 洋 保 險（集 團）股 份 有 限 公 司 傅 帆 董事長 香 港，2025年8月29日 於 本 公 告 日 期，本 公 司 執 行 董 事 為 傅 帆 先 生 和 ...

Core Viewpoint - China Pacific Insurance (601601.SH, 02601.HK) reported a 3.0% year-on-year increase in operating revenue to CNY 200.5 billion and an 11.0% rise in net profit to CNY 27.9 billion for the first half of the year, highlighting the company's focus on operational profit as a more stable indicator under new accounting standards [2] Financial Performance - The company achieved a net profit of CNY 27.9 billion, up 11.0% year-on-year [2] - Operating profit for the first half was CNY 19.9 billion, reflecting a 7.1% increase [2] - Dividend policy is now based on operating profit growth rather than net profit [2] New Business Value - New business value surged by 32.3% year-on-year, with a new business value rate of 15.0%, up 0.4 percentage points [2][3] - The bancassurance channel saw a significant growth of 82.6% in premium income, reaching CNY 41.7 billion [3] - The contribution of individual insurance and bancassurance channels to new business value was 60% and 37.8%, respectively [3] Investment Performance - Total investment yield was 2.3%, and comprehensive investment yield was 2.4%, both down by 0.4 and 0.6 percentage points year-on-year [3] - Net investment yield slightly decreased by 0.1 percentage points to 1.7% due to lower bond yields [4] - The company increased its equity asset allocation, with core equity (stocks and equity funds) rising to 11.8% of total assets [4] Dividend and Income - Dividend and stock income grew by 20.2% year-on-year, contributing 30% to net investment income of CNY 42.6 billion [4] - The company’s investment holdings are primarily concentrated in the financial, transportation, infrastructure, and energy sectors [4]

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。 中國太平洋保險（集團）股份有限公司 CHINA PACIFIC INSURANCE (GROUP) CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號：02601） 海外監管公告 本 公 告 乃 依 據《香 港 聯 合 交 易 所 有 限 公 司 證 券 上 市 規 則》第13.10B條的披 露 義 務 而 作 出。 茲 載 列 該 公 告 如 下，僅 供 參 考。 承董事會命 中 國 太 平 洋 保 險（集 團）股 份 有 限 公 司 傅 帆 董事長 香 港，2025年8月29日 於 本 公 告 日 期，本 公 司 執 行 董 事 為 傅 帆 先 生 和 趙 永 剛 先 生；非 執 行 董 事 為 黃 迪 南 先 生、王 他 竽 先 生、陳 然 先 生、周 東 輝 先 生、路 巧 玲 女 士 和John Rob ...

Core Insights - China Pacific Insurance (CPIC) reported a total revenue of approximately 200.5 billion yuan for the first half of 2025, marking a year-on-year increase of 3% [1] - The net profit attributable to shareholders reached approximately 27.9 billion yuan, reflecting an 11% year-on-year growth [1] - As of June 30, 2025, total assets amounted to approximately 3.03 trillion yuan, a 6.9% increase from the beginning of the year, while net assets decreased by 3.3% to 281.9 billion yuan [1] Life Insurance Business - In the first half of 2025, CPIC's life insurance segment achieved a premium income of 193.5 billion yuan, a 13.1% increase year-on-year [2] - The new business value reached 9.5 billion yuan, with a comparable year-on-year growth of 32.3%, and the new business value margin improved by 0.4 percentage points to 15.0% [2] - Net profit from the life insurance segment was 20.7 billion yuan, up 3.2% year-on-year, while operating profit increased by 5.0% to 15.0 billion yuan [2] Premium Income Breakdown - The premium income from the agent channel was 137.4 billion yuan, a slight increase of 0.9% year-on-year, while the bank insurance channel saw a significant growth of 82.6% to 41.7 billion yuan [3] - The group and government channel generated 12.9 billion yuan in premium income, reflecting a 9.7% increase year-on-year [3] - Other channels experienced a remarkable growth of 478.2%, contributing 1.5 billion yuan to the total premium income [3] New Business Value Growth - The contribution of individual insurance and bank insurance channels to new business value was 60% and 37.8%, respectively, indicating a more balanced structure [4] - The proportion of participating insurance in new business premium income increased to 42.5%, with agents contributing 51.0% of new business premium income in this category [5] - The average first-year premium per core staff member increased by 12.7% to 72,870 yuan [5] Property Insurance Business - CPIC's property insurance segment reported a premium income of 112.8 billion yuan, a 0.9% increase year-on-year, with insurance service income rising by 4.0% to 96.8 billion yuan [6] - The underwriting profit reached 3.6 billion yuan, a significant year-on-year increase of 30.9%, with a comprehensive cost ratio of 96.3%, down 0.8 percentage points [6] - The comprehensive loss ratio was 69.5%, a decrease of 0.1 percentage points, while the comprehensive expense ratio fell by 0.7 percentage points to 26.8% [6] Dividend Policy - CPIC distributed cash dividends exceeding 10.3 billion yuan for the 2024 fiscal year and has established a long-term dividend policy based on the growth rate of operating profit attributable to shareholders [6]

Core Insights - China Pacific Insurance (CPIC) reported a mid-year revenue of CNY 200.5 billion, a year-on-year increase of 3.0% [1] - The net profit attributable to shareholders reached CNY 27.9 billion, up 11.0% year-on-year [1] - The operating profit attributable to shareholders was CNY 19.9 billion, reflecting a 7.1% increase year-on-year [1] Financial Performance - The embedded value of CPIC stood at CNY 588.9 billion, growing 4.7% from the end of the previous year [1] - Total managed assets increased to CNY 3,772.9 billion, a 6.5% rise from the end of last year [1] - In the first half of 2025, the scale premium reached CNY 193.5 billion, marking a 13.1% year-on-year growth [1] New Business Development - The new business value was CNY 9.5 billion, up 5.6% year-on-year, with a comparable growth of 32.3% [1] - The new business value rate was 15.0%, an increase of 0.4 percentage points on a comparable basis [1] Health Insurance Sector - The health insurance business of CPIC maintained rapid growth, with service and health management fee income reaching CNY 1.7 billion, a 39.3% increase year-on-year [1] - The net profit from health insurance was CNY 39 million [1] Property and Casualty Insurance - CPIC's property and casualty insurance segment achieved original insurance premium income of CNY 112.8 billion, a 0.9% increase year-on-year [2] - The underwriting profit was CNY 3.6 billion, reflecting a 30.9% increase year-on-year [2] - The combined ratio was 96.3%, a decrease of 0.8 percentage points year-on-year [2] Agricultural Insurance - The agricultural insurance segment reported original insurance premium income of CNY 1.2 billion, a 1.1% increase year-on-year, with agricultural insurance premiums at CNY 900 million, up 7.7% [2] - The net profit for agricultural insurance was CNY 99 million, a 39.4% increase year-on-year [2] International Operations - CPIC Hong Kong's total assets reached CNY 1.4 billion, with net assets of CNY 384 million [2] - The original insurance premium income from CPIC Hong Kong was CNY 187 million, a 6.9% increase year-on-year [2]

Core Insights - China Pacific Insurance (CPIC) reported a mid-year revenue of CNY 200.5 billion, reflecting a year-on-year growth of 3.0% [1] - The net profit attributable to shareholders reached CNY 27.9 billion, marking an 11.0% increase compared to the previous year [1] - The company's embedded value grew by 4.7% to CNY 588.9 billion, indicating a steady increase in overall asset management scale, which reached CNY 3.77 trillion, up 6.5% from the end of the previous year [1] Life Insurance Segment - CPIC's life insurance core operating indicators showed positive trends, with premium income for the first half of 2025 reaching CNY 193.5 billion, a 13.1% increase year-on-year [1] - The embedded value for life insurance was CNY 445.0 billion, up 5.3% from the end of the previous year, while new business value increased by 5.6% to CNY 9.5 billion, with a comparable growth of 32.3% [1] - The new business value margin was 15.0%, reflecting a 0.4 percentage point increase on a comparable basis [1] Health Insurance Segment - The health insurance business of CPIC experienced rapid growth, with service and health management fee income reaching CNY 1.74 billion, a significant year-on-year increase of 39.3% [1] - The net profit from health insurance operations was CNY 39 million for the first half of 2025 [1] Property and Casualty Insurance Segment - CPIC's property and casualty insurance segment achieved original insurance premium income of CNY 112.8 billion, a 0.9% increase year-on-year, with insurance service income growing by 4.0% to CNY 96.8 billion [2] - The underwriting profit for this segment was CNY 3.55 billion, reflecting a substantial year-on-year increase of 30.9% [2] - The combined ratio improved to 96.3%, a decrease of 0.8 percentage points year-on-year, with the loss ratio at 69.5% and expense ratio at 26.8% [2] Agricultural Insurance - CPIC's agricultural insurance business, under the Pacific Anxin brand, reported original insurance premium income of CNY 1.24 billion, a 1.1% increase, with agricultural insurance premiums reaching CNY 899 million, up 7.7% [2] - The insurance service income for agricultural insurance declined by 3.3% to CNY 1.16 billion, while the combined ratio remained stable at 100.9% [2] International Operations - CPIC Hong Kong's total assets reached CNY 1.38 billion, with net assets of CNY 384 million, and original insurance premium income for the first half of 2025 was CNY 187 million, a 6.9% increase [2] - The combined ratio for CPIC Hong Kong was 98.0%, with a net profit of CNY 16 million [2]

Core Viewpoint - China Pacific Insurance (CPIC) demonstrates resilience and steady growth in its mid-2025 performance, focusing on high-quality development amidst external uncertainties [1] Financial Performance - CPIC achieved a total revenue of CNY 200.5 billion, a year-on-year increase of 3.0% [1] - Insurance service revenue reached CNY 141.8 billion, growing by 3.5% [1] - The net profit attributable to shareholders was CNY 27.9 billion, reflecting an 11.0% increase [1] - Operating profit attributable to shareholders was CNY 19.9 billion, up by 7.1% [1] - Embedded value increased to CNY 588.9 billion, a growth of 4.7% from the previous year [1] - Total managed assets rose to CNY 3.77 trillion, marking a 6.5% increase [1] Business Structure Optimization - CPIC's life insurance segment is enhancing its "2+N" channel system, with new business value growing rapidly; individual insurance and bank insurance channels contributed 60% and 37.8% respectively [4] - The property insurance segment is optimizing cost structures and reducing high-risk business, leading to improved underwriting profits and record net cash flow [4] Development and Service Enhancement - CPIC is focusing on financial "five major articles" to optimize its insurance supply system, serving 75,000 technology enterprises with a technology investment balance of CNY 119.7 billion [5] - The company is expanding its green finance products, with over 5.3 million vehicles covered under new energy vehicle insurance [5] - CPIC is enhancing its elderly care services, with over 2,000 residents in its "Taibao Home" communities and the launch of a rehabilitation hospital [5] Technological Innovation - The application of AI models is significantly improving insurance processes and operational efficiency, with AI coverage in customer service reaching nearly 50% [6] - The automation rate for health insurance claims has reached 16%, with a 99% accuracy rate in liability recognition [6] Organizational Optimization - CPIC is refining its organizational structure to enhance decision-making efficiency and strengthen talent development [7] - The company has distributed over CNY 10.3 billion in cash dividends for the 2024 fiscal year, maintaining a stable dividend level [7] Future Outlook - CPIC aims to focus on its core responsibilities, implementing strategies in health and elderly care, internationalization, and AI integration to build new competitive advantages [8]

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。 中國太平洋保險（集團）股份有限公司 CHINA PACIFIC INSURANCE (GROUP) CO., LTD. （於中華人民共和國註冊成立的股份有限公司） （股份代號 ：02601) 截至二零二五年六月三十日止六個月 未經審核中期業績公告 董事長致辭 尊敬的中國太保股東朋友們 ： 2025年上半年，全球經濟復甦乏力，國際經貿面臨嚴峻挑戰，中國經濟積極面 對外部壓力，保持整體平穩運行，為世界經濟增長貢獻了重要的確定性。國內來看， 中國式現代化建設深入推進，科技創新和產業升級融合發展，新質生產力加速培育， 外貿規模穩定增長，銀髮經濟興起，數字浪潮奔涌，催生多元化的金融服務和風險保 障需求，為保險業開創了巨大的發展空間。同時，行業自身仍然處於轉型升級的關鍵 時期，嚴監管、防風險的導向更加清晰，監管推行「報行合一」、加快個人營銷體制改 革，探索商業保險公司長週期考核等舉措，進一步強化高質量發展理念的牽引 ...