中国平安一度涨约4.3%，最高触及71.98元，创2021年3月以来新高。 中金近日发表研报指，展望2026年，寿险行业将再入黄金发展期、负债端有更积极的发展趋势呈现，行 业投资逻辑将从"寻求存量业务的重估修复"重回 "给予成长能力估值溢价"，优质寿险有望王者归来、 目标估值重回 1.0x P/EV之上。中金上调中国平安-A/H目标价对应估值至1.0x 2026e P/EV，预计其将引 领行业下轮估值修复，A股目标价从74.4元上调至89.8元，H股目标价从71港元上调至99.4港元，均维 持"跑赢行业"评级。(格隆汇) ...

中金上调中国平安-A/H目标价对应估值至1.0x 2026e P/EV，预计其将引领行业下轮估值修复，A股目标 价从74.4元上调至89.8元，H股目标价从71港元上调至99.4港元，均维持"跑赢行业"评级。 股票频道更多独家策划、专家专栏，免费查阅>> 12月25日，中国平安一度涨约4.3%，最高触及71.98元，创2021年3月以来新高。 中金近日发表研报指，展望2026年，寿险行业将再入黄金发展期、负债端有更积极的发展趋势呈现，行 业投资逻辑将从"寻求存量业务的重估修复"重回 "给予成长能力估值溢价"，优质寿险有望王者归来、 目标估值重回 1.0x P/EV之上。 责任编辑：栎树 ...

Core Viewpoint - The essence of commercial health insurance is not risk compensation but a systematic extension of health management, reflecting the core logic of the insurance industry's transformation and China's exploration of the "insurance-medical collaboration" strategy [1][3]. Group 1: Health Insurance Transformation - China Ping An is shifting from "post-claim" to "prevention, management, and rehabilitation," using insurance as a lever to initiate a health service revolution that covers the entire life cycle [3][4]. - The "Health China 2030" plan emphasizes the transition of healthcare services from a disease-centered approach to a health-centered one, creating a new historical mission for commercial health insurance [4]. - Ping An Health Insurance has proposed a dual-driven strategy of "health insurance + medical services," launching a digital health management platform in 2024 to provide continuous health support [4][6]. Group 2: Service Efficiency and Cost Savings - The "three savings" concept—saving worry, time, and money—underpins Ping An's health insurance collaboration system [5]. - The "post-hospital rehabilitation follow-up" project exemplifies professional closed-loop services, providing personalized training plans and real-time supervision for patients [6]. - Digital integration has reduced outpatient revisit frequency by 30%, and the time from accident report to hospitalization has been accelerated by 80% [6]. - Patients receiving follow-up care save an average of over 2000 yuan in medical expenses, while targeted rehabilitation interventions in auto insurance cases save an average of 22,000 yuan per case [6]. Group 3: Comprehensive Service Network - Ping An has established a vast service network through collaboration with Peking University Medical Group, including hospitals, rehabilitation centers, and health management centers across the country [7]. - Innovations such as "no companion wards" and "healthcare on wheels" are designed to meet the "three savings" goals, ensuring that insurance services are effectively implemented [7]. Group 4: Smart Rehabilitation and Long-term Care - The opening of Shenzhen Beida Rehabilitation Hospital marks a significant step in Ping An's "insurance-medical-health" ecosystem, featuring a family-oriented and intelligent rehabilitation environment [8][10]. - The hospital aims to provide seamless services by integrating medical insurance, commercial insurance, and cross-border insurance payment channels [10]. - Ping An is focusing on preventive health management, particularly for chronic diseases and the elderly, by developing specialized insurance products and integrating advanced healthcare technologies [10][11]. Group 5: Broader Vision and Commitment - Ping An's approach emphasizes that the ultimate value of insurance lies in extending life quality and safeguarding health dignity, moving beyond mere risk transfer [11]. - The company is building a comprehensive health ecosystem that encompasses prevention, diagnosis, rehabilitation, and elderly care, positioning insurance as an active health manager [11]. - The vision is to ensure that everyone can age healthily and gracefully, reflecting Ping An's commitment to the "Healthy China" strategy through the integration of finance, technology, and healthcare [11].

编者按：迎来爆发式增长。近日，21世纪经济报道与平安人寿联合发布《中国居家养老服务师职业发展报告（2025）》，详解 居家养老服务师作为养老服务需求下产生的新职业，其角色定位、发展挑战与广阔前景，在"9073"养老格局中的又能起到何种 关键作用？ 北京市朝阳区的杨明（化名）的父亲今年80多岁了，患有关节炎，行动略有不便，独住在自己家附近的一个小区里。 杨明日常工作繁忙，时常出差，自己无暇照护父亲。他想把父亲送进养老院，但父亲因为旧家难离不愿意去，只能同意父亲居 家养老。但对杨明来说，随着之而来的问题是：如何找到靠谱的照护者？老人独自在家磕着摔着怎么办？ 杨明遇到的照护难题并非个例，是众多家庭面临的现实困境。数据显示，截至2024年年末，我国60岁及以上老年人口总量已突 破3亿，其中九成老人选择并希望在家中度过晚年。近日，21世纪经济报道联合平安人寿发布了《中国居家养老服务师职业发展 报告（2025）》（以下简称《报告》）。《报告》分析了当前居家养老的需求、变革及产业态势，为破解养老难题提供了参 考。 居家养老成主流 "家庭+社区"协同需求凸显 从"能养老"到"养好老" 专业照护与适老化改造成关键 不过，在共识 ...

Core Insights - China is entering a deep aging society, with the elderly population aged 60 and above expected to reach 310 million by 2024, accounting for 22% of the total population, and the number of disabled elderly people projected to rise from 35 million to 46 million by 2035 [1] - The current workforce in the elderly care service sector is only 1.338 million, which is less than 10% of the required number based on international standards [1] - The introduction of the "Elderly Care Service Specialist" as a new profession marks a significant step towards professionalizing the elderly care industry, aiming to alleviate the talent shortage and improve service quality [1] Industry Challenges - The elderly care service industry faces a dual gap in quantity and quality, with only 597,000 staff in care institutions and 741,000 in community services, insufficient to meet the needs of 35 million disabled elderly individuals [2] - There is a low percentage of qualified professionals, with only 248,000 having obtained relevant certifications, and a lack of advanced professionals to meet complex service demands [2] - The unclear career development path for elderly care workers is a major bottleneck, as many are viewed as manual laborers without a clear advancement system [2] Social Perception and Compensation Issues - Social biases and imbalanced compensation create barriers to attracting talent, with over 80% of current workers reporting daily work hours exceeding 10 hours and nearly 70% stating their income is barely sufficient [3] - The lack of a comprehensive training system and industry standards exacerbates the talent crisis, with educational programs being limited and practical training opportunities insufficient [3] Talent Development Initiatives - Companies like Ping An are exploring solutions by establishing a comprehensive training system for elderly care specialists, integrating selection, training, and support [4] - By 2025, Ping An aims to cover 100 cities with its home care services, having served nearly 240,000 clients, with high satisfaction rates among service providers [5] - The strict selection criteria for caregivers and ongoing training programs are essential for enhancing service quality, with significant service hours logged and high customer satisfaction reported [5][6] Standardization and Quality Assurance - The establishment of a robust standard system is crucial for retaining talent, with Ping An's home care services recently receiving a five-star rating based on comprehensive evaluation criteria [6] - The development of a clear professional standard for elderly care specialists can enhance social recognition and support industry transformation [6] Collaborative Solutions for Industry Growth - The industry requires collaboration among government, enterprises, and society to address talent shortages effectively, emphasizing the need for a standardized framework covering service provision, personnel qualifications, and quality evaluation [8] - Continuous optimization of talent supply necessitates a solid training framework, with a focus on practical skills and humanistic care [8] Enhancing the Appeal of the Profession - To make elderly care specialists an attractive profession, efforts should be made to improve economic compensation and social recognition, including policy support and positive publicity [9][10] - Establishing a standardized professional system and diverse support policies will help ensure high-quality development in the home care industry, benefiting the elderly population [10]

Group 1 - UBS increased its long position in Ping An Insurance (Group) Company of China, Ltd. - H shares from 8.99% to 9.02% as of December 17, 2025 [1] - UBS raised its long position in Contemporary Amperex Technology Co., Limited - H shares from 4.74% to 5.03% as of December 17, 2025 [1] - UBS decreased its long position in ZTE Corporation - H shares from 9.04% to 8.98% as of December 17, 2025 [1]

Core Viewpoint - The article discusses the recent performance of the Chinese stock market, particularly focusing on the rise of China Ping An and the Securities Insurance ETF, while also highlighting the upcoming regulatory changes in the insurance sector. Group 1: Market Performance - China Ping An's stock rose over 1.6%, reaching a four-year high, while the Securities Insurance ETF increased by over 0.9%, with a performance of +71.69% over the past 356 days, indicating potential short-term pullback needs if market sentiment declines [3][10]. - The Securities Insurance ETF's trading status shows a slight increase of +0.97%, with a current price of 0.933, and a trading volume indicating a negative委比 of -27.76% [4][11]. Group 2: Regulatory Changes - On December 19, 2025, the Financial Supervision Administration will release a draft for the "Asset-Liability Management Measures for Insurance Companies," which aims to systematically upgrade existing regulatory rules, set to take effect on July 1, 2026 [4][12]. - Institutions indicate that this new regulation marks a transition to a more systematic and standardized phase in the industry's asset-liability management [5][12]. Group 3: Investment Strategy - The article emphasizes the long-term benefits of systematic investment plans, noting that over the past 200 years, the stock market has outperformed other asset classes significantly, with a growth of 100,000% compared to gold and long-term bonds [5][12]. - Previous investment plans have shown substantial returns, with gains of +139%, +128%, and +114% for various periods, indicating the effectiveness of the investment strategy [7][14].

据香港交易所披露，瑞银集团（UBS）对中国平安保险(集团)股份有限公司 - H股的多头持仓比例于 2025年12月17日从8.99%增至9.02%。 本文源自：金融界AI电报 ...

据 香港交易所 披露，瑞银集团（UBS）对 中国平安 保险 (集团)股份有限公司- H股的多头持仓比例于 2025年12月17日从8.99%增至9.02%；对 宁德时代 新能源 科技股份有限公司- H股的多头持仓比例于 2025年12月17日从4.74%增至5.03%；对 中兴通讯 股份有限公司- H股的多头持仓比例于2025年12月17日 从9.04%降至8.98%。 ...

Group 1 - The insurance sector showed strength on December 23, with China Life Insurance and New China Life Insurance following the upward trend [1] - China Pacific Insurance and China Life Insurance both increased by over 2% [1]