Group 1 - China Pacific Insurance Co., Ltd. (CPIC) has completed the issuance of zero-coupon convertible bonds totaling HKD 15.556 billion, maturing in 2030 [2] - The purpose of the bond issuance is to support the development of CPIC's core insurance business and to provide funding for its three strategic initiatives: "Great Health and Elderly Care," "Artificial Intelligence+," and "Internationalization" [2] - The application for the bond's listing is expected to take effect on September 19, 2025, and has received approval for the listing of conversion shares [2] Group 2 - As of the first half of 2025, CPIC reported operating revenue of CNY 200.496 billion, a year-on-year increase of 3.0% [5] - The company achieved a net profit attributable to shareholders of CNY 27.885 billion, reflecting a year-on-year growth of 11.0% [5] - By the end of the first half of 2025, CPIC's total managed assets reached CNY 3.77 trillion, an increase of 6.5% compared to the end of the previous year [5]

在日前落幕的2025年中国国际服务贸易交易会上，平安产险联合中再产险和西北工业大学发布了《低空 经济新兴风险治理与保险创新白皮书》，为当前低空经济相关产业的综合风险提出了系统性解决方案。 随着低空经济从"蓝图"跃入"实景"，无人机配送、空中游览、eVTOL(电动垂直起降飞行器)等新业态迅 猛发展。这片蓝海在展现巨大潜力的同时，也带来了前所未有的风险管理和安全保障挑战。记者在采访 中了解到，保险业正积极前瞻布局，通过产品创新、服务升级和模式探索，致力于为低空经济编织全方 位、多层次的安全保障网。 快速发展释放需求 近年来，低空经济发展保持强劲增长态势。从产业链上看，低空经济主要涵盖低空装备制造、低空飞行 保障、低空场景运营服务与低空综合服务4个主要领域。来自中国民航局的数据显示，截至2024年11月 底，我国无人机运营企业近1.9万家，国内注册无人机215.8万架。2024年前11个月无人机飞行2544.9万 小时，同比增长15.3%。据中国民航局测算，我国低空经济市场规模预计2025年突破1.5万亿元、2035年 跃升至3.5万亿元。 2024年《政府工作报告》提出，积极打造生物制造、商业航天、低空经济等新增 ...

在日前落幕的2025年中国国际服务贸易交易会上，平安产险联合中再产险和西北工业大学发布了《低空 经济新兴风险治理与保险创新白皮书》，为当前低空经济相关产业的综合风险提出了系统性解决方案。 随着低空经济从"蓝图"跃入"实景"，无人机配送、空中游览、eVTOL（电动垂直起降飞行器）等新业态 迅猛发展。这片蓝海在展现巨大潜力的同时，也带来了前所未有的风险管理和安全保障挑战。记者在采 访中了解到，保险业正积极前瞻布局，通过产品创新、服务升级和模式探索，致力于为低空经济编织全 方位、多层次的安全保障网。 快速发展释放需求 近年来，低空经济发展保持强劲增长态势。从产业链上看，低空经济主要涵盖低空装备制造、低空飞行 保障、低空场景运营服务与低空综合服务4个主要领域。来自中国民航局的数据显示，截至2024年11月 底，我国无人机运营企业近1.9万家，国内注册无人机215.8万架。2024年前11个月无人机飞行2544.9万 小时，同比增长15.3%。据中国民航局测算，我国低空经济市场规模预计2025年突破1.5万亿元、2035年 跃升至3.5万亿元。 2024年《政府工作报告》提出，积极打造生物制造、商业航天、低空经济等新增 ...

Macro Economic Overview - The "14th Five-Year Plan" emphasizes the use of more proactive fiscal policies to support employment and foreign trade, and to improve people's livelihoods [3][4] - Recent policies focus on industrial internet applications and the development of new energy sectors, indicating a shift towards digitalization and innovation [3][4] Fixed Income Market - As of August 2025, the total bond custody amount reached 174.54 trillion yuan, with a net increase of 15,060.06 million yuan, indicating a slight decrease in growth compared to previous months [9][10] - The leverage ratio in the bond market slightly increased to 106.88%, reflecting a cautious optimism in the market [13][14] Pharmaceutical Industry - The pharmaceutical sector is entering a new growth phase driven by innovation and optimization of centralized procurement, with major companies like Heng Rui Pharmaceutical and China Biologic Products showing robust revenue growth [17][18] - The recent adjustments in the national medical insurance directory are expected to benefit innovative drugs, leading to potential rapid growth for companies involved [18][19] Non-Bank Financial Sector - The performance of non-bank financial companies is primarily driven by property and equity investments, with significant contributions from the property insurance sector [21][22] - The net profit growth of listed insurance companies improved in the first half of 2025, largely due to the profitability of property insurance [21][24] Agricultural Sector - The price of white feather chicken increased due to supply disruptions and rising demand, with the average selling price reaching 7.17 yuan/kg in August 2025 [30][31] - The egg market faces pressure from high production capacity, limiting the potential for price increases despite some upward movement in prices [32][33] Machinery Industry - The valuation of global robotics companies is being redefined, with Figure's recent funding round valuing the company at 39 billion USD, indicating a bullish outlook for the robotics sector [37][38] - Key components in robotics are expected to see significant valuation increases, with potential PE ratios reaching 200 times as the industry matures [38][39] Consumer Services Sector - The upcoming National Day holiday is expected to boost travel bookings, with a steady increase in pre-booking trends observed [42][45] - The tea and coffee sector continues to show strong performance, with leading brands expanding their market presence despite some overall industry slowdowns [43][45] Real Estate and Construction - China Overseas Property is experiencing growth in both scale and profitability, with projected net profits increasing from 16.1 billion yuan in 2025 to 19.6 billion yuan by 2027 [47][48] - The company is focusing on high-quality expansion and has seen a significant increase in managed area and new contract signings [49][50] Electronics Industry - The domestic high-power server power supply market is growing, with companies like Oulu Tong positioned as leaders in this space, benefiting from the rise of AI applications [51][52] - The demand for higher power server supplies is expected to increase, with new products in development to meet the needs of advanced AI servers [53]

香港联交所最新资料显示，9月16日，小摩减持中国太保（601601）(02601)1364.4333万股，每股作价 31.9645港元，总金额约为4.36亿港元。减持后最新持股数目约为6.84亿股，最新持股比例为24.66%。 ...

Group 1 - On September 16, JPMorgan reduced its stake in China Pacific Insurance (02601) by selling 13.644333 million shares at a price of HKD 31.9645 per share, totaling approximately HKD 436 million [1] - After the reduction, JPMorgan's remaining shareholding is approximately 684 million shares, representing a stake of 24.66% [1]

2025H1上市险企投资资产规模稳步增长，哑铃型配置结构更加突出，但债券增配力度较小而股票增配 力度更大，截至6月末各公司股票占比分别为新华保险11.6%>中国平安10.5%>中国太保9.7%>中国人寿 8.7%>中国太平8.3%>中国人保5.4%。从收益表现来看，净投资收益率延续下行态势，分别为中国人保 3.7%(同比-0.1pt)>中国平安3.6%(简单年化、同比+0.3pt)>中国太保3.4%(简单年化、同比-0.2pt)>新华保 险3.0%(同比-0.2pt)>中国人寿2.8%(同比-0.3pt)。 总投资收益率差异明显主因权益投资策略不同，分别为新华保险5.9%(同比+1.1pt)>中国人保5.1%(同比 +1.0pt)>中国太保4.6%(简单年化、同比-0.8pt)>中国平安3.8%(简单年化、同比+0.3pt)>中国人寿3.3%(同 比-0.3pt)。 净利润和净资产分化明显，中期分红重视股东回报 受资本市场波动影响不同，2025H1上市险企归母净利润增速分别为新华保险+33.5%>中国人保+16.9%> 中国太平+12.2%>中国太保+11.0%>中国人寿+6.9%。剔除短期投资波动和其他一次 ...

分公司党委书记、总经理鲁强亲自挂帅，构建"消保+N"创新金融教育宣传体系。携"儒意洋洋·金融消保 能量站"主题展位，积极参与山东金融监管局主办的"金号角·金融知识集市"活动，在"三服驿站"为现场 群众讲解金融知识、倾听群众诉求、普及风险防范要点，积极践行"服务人民、服务客户、服务基层"的 三服行动理念。联动省级主流媒体做客"金融教育宣传周"主题节目，向观众介绍公司在银龄服务、下乡 便民等"为民办实事"方面的特色服务；普及金融适当性管理中金融机构"三个不推荐"；就防诈骗与反洗 钱等社会关切问题给出实用建议，多维度帮助观众了解金融消费者权益保护知识，有效提升了观众对金 融风险的识别和防范意识。在高管接待日活动中，为现场到访客户解释公司在车险理赔服务时效及办理 流程方面的规范要求，讲解公司透明理赔特色服务流程并现场操作演示；前往职场聆听投诉录音，指导 投诉处理工作。 中国太保产险山东分公司积极响应国家金融监督管理总局"金融教育宣传周"部署，以"大消保"格局为抓 手，以多元创新实践为牵引，通过高管层率先垂范抓落实、多层级创新宣传入一线、多维度重点群体全 覆盖，全面推动金融消保工作穿透基层、网格辐射，切实打通金融知识普 ...

工作人员走进校园，通过举办专题讲座、开展互动游戏等形式，向同学们普及反洗钱知识，引导学生们防范校园贷等可能涉及的洗钱风险；工作人员深入社 区，用通俗易懂的语言为老年人群体讲解反洗钱常识，提醒他们警惕各种诈骗手段，保护好自己的养老钱；工作人员走进企业，结合实际情况，向企业财务 人员讲解反洗钱在企业财务管理中的重要性，帮助他们提高风险防范意识和应对能力。通过这些精准宣传活动，有效提升了重点群体洗钱风险防范意识和应 对能力。 为积极响应国家反洗钱工作号召，深入贯彻落实《中华人民共和国反洗钱法》等一系列相关法律法规，切实增强内外部客户以及社会公众对洗钱违法犯罪活 动的"免疫力"，提升防范意识与识别能力，近日，中国太保寿险山东分公司精心组织、全辖联动，开展了一系列形式多样、内容丰富的宣传活动，取得了显 著成效。 营业阵地宣传，筑牢日常防线 活动期间，辖内各机构充分利用营业大厅和营销职场等营业阵地，全方位、多层次地开展反洗钱日常宣传。通过悬挂条幅、摆放易拉宝和宣传折页、张贴宣 传海报、电子屏和电视滚动播放宣传标语或宣传视频等形式，提醒前来办理业务的客户提高反洗钱意识。 深入密集区域，普及反洗知识 在繁华的商业街、热闹的社 ...

2025年中期報告 Interim Report 2025 目錄 CONTENTS | 經營業績 | | | --- | --- | | 會計數據和業務數據摘要 | P15 | | 經營業績回顧與分析 | P17 | | 內含價值 | P39 | 46 | 重要提示 | P2 | | --- | --- | | 公司簡介及釋義 | P3 | | 經營概覽 | P5 | | 董事長致辭 | P9 | 14 | 董事會報告和重要事項 | P47 | | --- | --- | | 股份變動及股東情況 | P57 | | 董事、監事和高級管理人員情況 | P61 | | 企業管治情況 | P65 | | 環境和社會責任 | P69 | | 其他信息 | | --- | 備查文件目錄 P75 78 財務報告 審閱報告 中期財務報表 提示申明： 本報告中所涉及的未來計劃、發展戰略等前瞻性描述不構成公 司對投資者的實質承諾，投資者及相關人士均應當對此保持足 夠的風險認識，並且應當理解計劃、預測與承諾之間的差異。 特提請注意 2025 年中期報告 1 公司治理 74 重要提示 聯繫我們 重要提示 中國太平洋保險（集團）股份 ...