Group 1 - The core viewpoint of the articles highlights a resurgence in insurance companies' stake acquisitions, particularly in Hong Kong stocks, with six instances occurring within two weeks, indicating a shift from banking to consumer and insurance sectors [1][19] - The recent stake acquisitions by insurance funds mark the first occurrence in six years, reflecting a strong demand for high-dividend assets and a shift of funds from traditional dividend stocks to other high-dividend sectors [2][19] - The historical performance of dividend assets shows a cyclical rotation through four distinct phases, with the current phase indicating a strong performance in banking stocks and a relative outperformance of Hong Kong dividends compared to A-shares [2][19] Group 2 - The outlook for Hong Kong dividend opportunities suggests that they serve as a safe haven amid macroeconomic uncertainties, with insurance stocks offering both cyclical resilience and stable profitability [3][19] - The Hong Kong high-dividend low-volatility ETF (520550) tracks a diversified index of high-dividend stocks, providing exposure to various sectors while maintaining a low fee structure of 0.2% [3][5] - The Hong Kong high-dividend low-volatility index has demonstrated superior performance compared to major Hong Kong indices over the past three years, with a cumulative return of 86.88% [8][9] Group 3 - The current state of Hong Kong dividend assets is not overheated, with the high-dividend low-volatility index at a historically low level, indicating potential for future growth [9] - Hong Kong is experiencing a dividend payout peak, with total cash dividends expected to reach HKD 1.38 trillion in 2024, reflecting a year-on-year growth of over 10% [9][19] - Southbound capital inflows have surged, with a record net purchase of over HKD 35.8 billion on August 15, indicating a strong preference for high-dividend stocks across various sectors [13][19]

Core Viewpoint - China Ping An has increased its holdings in Agricultural Bank and China Life H shares, spending approximately HKD 465 million in total [1][2]. Group 1: Investment Activities - On August 13, Ping An Life purchased 26.515 million shares of Agricultural Bank H shares at an average price of HKD 5.5041 per share, totaling about HKD 146 million, raising its stake from 13.99% to 14.08% [2]. - On the same day, Ping An Life also acquired 14.067 million shares of China Life H shares at an average price of HKD 22.7439 per share, costing approximately HKD 319 million, increasing its ownership from 4.99% to 5.18% [2]. - On August 18, Ping An Life disclosed its previous acquisition of China Pacific Insurance H shares on August 11, raising its stake from 4.97% to 5.1% [2]. - Ping An Life has also increased its holdings in Postal Savings Bank H shares to 15% and has over 16% in China Merchants Bank H shares as of July 29 [2]. Group 2: Market Trends - Since the beginning of the year, Ping An has been actively acquiring bank and insurance stocks, with over 30 instances of stake increases, particularly favoring undervalued, high-dividend, and stable performance sectors [3][4]. - The insurance sector's allocation to stock assets has reached its highest level in recent years, with insurance funds' investment balance at CNY 36.23 trillion, a 3.73% increase from the previous quarter [5]. - The funds allocated to stocks increased to CNY 3.07 trillion, an 8.9% rise from CNY 2.81 trillion in the previous quarter, indicating a net purchase of approximately CNY 640 billion in the first half of the year, a 78% increase compared to the second half of last year [5].

【导读】中国平安增持农业银行及中国人寿H股！ 险资继续狂买银行、保险H股！ 8月19日，据香港联交所股权披露，中国平安（601318）保险（集团）股份有限公司（以下简称中国平 安）旗下平安人寿举牌农业银行（601288）H股和中国人寿（601628）H股，累计耗资约4.65亿港元。 累计斥资4.65亿港元增持 披露公告显示，在8月13日，平安人寿以5.5041港元每股的平均价买入2651.5万股农业银行H股，耗资约 1.46亿港元，交易后平安人寿持有农业银行H股比例由13.99%增至14.08%。 值得一提的是，同日，平安人寿还增持了中国人寿保险股份有限公司（以下简称中国人寿）H股，其以 22.7439港元每股的平均价格买入1406.7万股中国人寿H股，耗资约3.19亿港元。交易完成后，平安人寿 对中国人寿H股持股比例由原来的4.99%升至5.18%。 据悉，在8月18日，平安人寿还披露了其此前于8月11日举牌中国太平洋保险（集团）股份有限公司（以 下简称中国太保（601601））H股情况，增持后，其持股比例由原来的4.97%升至5.1%。同时，这也是 时隔六年再次出现险资举牌险企的情况。 此外，在8月12日 ...

Core Viewpoint - China Ping An has significantly increased its holdings in Agricultural Bank and China Life H shares, spending approximately HKD 465 million in total [2][3]. Group 1: Investment Activities - On August 13, Ping An Life purchased 26.515 million shares of Agricultural Bank H shares at an average price of HKD 5.5041 per share, totaling about HKD 146 million, raising its stake from 13.99% to 14.08% [4]. - On the same day, Ping An Life also acquired 14.067 million shares of China Life H shares at an average price of HKD 22.7439 per share, costing approximately HKD 319 million, increasing its holding from 4.99% to 5.18% [4]. - On August 18, Ping An Life disclosed its previous acquisition of China Pacific Insurance H shares on August 11, raising its stake from 4.97% to 5.1% [4]. - Throughout 2023, Ping An has actively increased its stakes in various banks and insurance companies, including Postal Savings Bank, China Merchants Bank, and others [5]. Group 2: Market Trends - The insurance capital has shown a high-frequency trend in acquiring H shares of banks and insurance companies, with over 30 instances of acquisitions this year, focusing on undervalued, high-dividend, and stable performance sectors [8]. - As of the end of Q2, the total balance of insurance funds reached CNY 36.23 trillion, a 3.73% increase from Q1, with stock investments rising to CNY 3.07 trillion, an 8.9% increase from CNY 2.81 trillion in Q1 [8].

Core Viewpoint - The article discusses the collaborative efforts of various Chinese financial institutions, particularly China Life, to support the innovation and development of the brain-computer interface (BCI) industry, highlighting significant investments and advancements in technology [1][2][5]. Group 1: Policy and Financial Support - The Ministry of Industry and Information Technology and six other departments issued implementation opinions to promote the innovation of the BCI industry [1]. - China Life has actively responded to this policy by integrating financial resources with technological innovation, aiming to accelerate the development of BCI technologies [1][2]. - As of June 2025, China Life's investment in technology self-reliance has exceeded 40 billion yuan, with over 20 projects funded in various advanced fields [2][5]. Group 2: Technological Advancements - A significant breakthrough in BCI was achieved with a clinical trial using high-throughput flexible electrodes developed by Beijing Zhirun Medical Technology Co., which allows for minimal damage during implantation and precise monitoring of neural signals [2][3]. - The BCI technology is being applied in medical, rehabilitation, and nursing fields, enabling patients to perform actions through thought, thus enhancing rehabilitation training [3][4]. Group 3: Investment in Emerging Companies - China Life's dual-carbon fund participated in a recent A-round financing for Zhirun Medical, raising over 300 million yuan to support the development of next-generation invasive flexible BCIs [2]. - Guangfa Bank, a member of China Life Group, provided tailored financial services to Lizi Intelligent Technology, offering a credit intention of 170 million yuan to support its application for national industry funds [4]. - The China Life Health Investment Fund has invested in over 60 projects, focusing on high-tech companies that address critical technological challenges [6].

Group 1 - The internet insurance sector experienced a decline of 1.11%, ranking among the top losers in the concept sector, with *ST Gao Hong hitting the limit down [1] - Major stocks in the internet insurance sector that saw significant declines include Dongfang Caifu, Xinzhisoft, and China Life, while seven stocks recorded gains, with Qipilang, Aishida, and Jiayun Technology leading the increases at 3.21%, 1.80%, and 1.51% respectively [1][2] - The concept sector saw a net outflow of 3.946 billion yuan, with 13 stocks experiencing net outflows, and six stocks seeing outflows exceeding 50 million yuan, led by Dongfang Caifu with a net outflow of 2.978 billion yuan [1] Group 2 - The top net inflow stocks in the internet insurance concept include Jinzhen Co., Tongfang Co., and Jiao Dian Technology, with net inflows of 51.0932 million yuan, 26.9891 million yuan, and 26.6014 million yuan respectively [1] - The stocks with the highest net outflows include Dongfang Caifu, China Ping An, Weining Health, and China Life, with net outflows of 2.977 billion yuan, 710.6 million yuan, 106.98 million yuan, and 84.8647 million yuan respectively [1][2] - The trading activity in the sector shows that *ST Gao Hong had a decline of 4.91% with a turnover rate of 0.06%, while stocks like Yuheng Pharmaceutical and Jiayun Technology had increases of 0.80% and 1.51% respectively [2]

Core Viewpoint - Ping An Good Doctor (01833) announced a significant investment management agreement with China Life Franklin Asset Management, involving a total principal amount of up to USD 55 million for asset management services over a three-year period [1] Group 1 - The subsidiary Glorious Delight Limited (鑫悦) will act as the principal in the agreement [1] - China Life Franklin will serve as the investment manager under the discretionary management agreement [1] - The agreement is set to take effect on August 19, 2025, and will last for three years [1]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 601336 | 新华保险 | 66.10 | -1.64% | 18.59万 | | 12.44亿 | | 601319 | 中国人保 | 8.42 | -1.86% | 71.78万 | | 6.09亿 | | 601318 | 中国平安 | 58.20 | -1.92% | 95.48万 | | 56.26亿 | | 601601 | 中国太保 | 39.07 | -2.08% | 24.17万 | | 9.56亿 | | 601628 | 中国人寿 | 41.87 | -2.45% | 16.71万 | | 7.071Z | 证券之星消息，8月19日保险板块较上一交易日下跌2.12%，中国人寿领跌。当日上证指数报收于 3727.29，下跌0.02%。深证成指报收于11821.63，下跌0.12%。保险板块个股涨跌见下表： 从资金流向上来看，当日保险板块主力资金净流出10.5亿元，游资资金净流入2.28亿元，散户资金净流入 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 人 壽 保 險 股 份 有 限 公 司 CHINA LIFE INSURANCE COMPANY LIMITED ( 於中華人民共和國註冊成立之股份有限公司 ) (股份代號：2628) 召開 2025 年中期業績發布會 承董事會命 中國人壽保險股份有限公司 邢家維 公司秘書 香港，2025 年 8 月 19 日 於本公告日期，本公司董事會由以下人士組成： 執行董事： 蔡希良、利明光、劉暉、阮琦 非執行董事： 王軍輝、胡錦、胡容、牛凱龍 獨立非執行董事： 林志權、翟海濤、陳潔、盧鋒 中國人壽保險股份有限公司（「本公司」）擬於 2025 年 8 月 27 日在香港交易及結算 所有限公司「披露易」網站（www.hkexnews.hk）公布本公司 2025 年中期業績。為了 便於廣大投資者更全面深入地了解本公司 2025 年中期業績和經營情況，本公司擬於 2025 年 8 月 28 日 10:45-12 ...

Market Overview - The three major A-share indices collectively declined on the 19th, with the Shanghai Composite Index down 0.02%, the Shenzhen Component Index down 0.12%, and the ChiNext Index down 0.17% [2] - The North Securities 50 Index increased by 1.27% [2] - The total trading volume in the Shanghai and Shenzhen markets was 26,407 billion yuan, a decrease of 1,685 billion yuan compared to the previous day [2] Stock Performance - Over 2,900 stocks in the market experienced an increase [2] - The liquor sector continued to strengthen, with stocks like JiuGuiJiu hitting the daily limit and SheDe Liquor rising over 6% [2] - The innovative drug sector saw a peak and then a pullback, with stocks such as ShenLian Bio and BoJi Medicine hitting the daily limit [2] - Huawei HiSilicon concept stocks showed strong fluctuations, with ChengMai Technology hitting the daily limit and Sichuan Changhong also reaching the daily limit [2] Sector Adjustments - The insurance sector experienced a pullback, with China Life and China Pacific Insurance both declining over 2% [2] - The military equipment sector also faced adjustments, with stocks like FeiLiHua and GuangQi Technology dropping over 6% [2]