Mei Ri Jing Ji Xin Wen·2025-03-28 10:25Core Viewpoint - China Pacific Insurance Group reported a 24.7% year-on-year increase in operating revenue and a 64.9% increase in net profit attributable to shareholders for 2024, indicating stable and positive overall business performance [1] Financial Performance - Operating revenue increased by 24.7% year-on-year - Net profit attributable to shareholders grew by 64.9% year-on-year - Embedded value rose by 6.2% year-on-year - Managed assets increased by 21.2% year-on-year [1] Strategic Initiatives - The company has officially launched three major strategies: "Great Health and Elderly Care," "AI+," and internationalization, aimed at sustainable development and high-quality growth [1] - The new management team in life insurance is focused on long-term development and has established a three-year high-quality development plan centered on customer, economic, and social value [6][9] Life Insurance Sector - New business value reached 13.258 billion yuan, a 20.9% increase year-on-year, with a new business value rate of 16.8%, up 3.5 percentage points [6] - The company plans to develop a multi-layered health and retirement insurance product system by 2025, addressing diverse customer needs [6] New Energy Vehicle Insurance - Premiums for new energy vehicle insurance reached 18.317 billion yuan, accounting for 17.03% of total auto insurance, with a growth rate of 48.55% [8] - The comprehensive cost rate for new energy vehicle insurance decreased by 4 percentage points year-on-year [8] AI+ Strategy - The "AI+" strategy focuses on exploring new business models, researching accompanying risks, and enhancing operational efficiency through digital and financial improvements [9] - The company aims to leverage AI to create new business opportunities and improve customer engagement, underwriting, claims, and compliance [9] Investment Outlook - The company anticipates a structural market in 2025, with a focus on long-term asset allocation strategies to balance short-term volatility and long-term value growth [10] - There will be an increase in investments in sectors related to artificial intelligence, robotics, and autonomous driving [10] Market Positioning - The company has engaged in shareholding activities to diversify its investment portfolio and reduce long-term volatility [11] - The Hong Kong stock market is viewed as attractive due to its relatively low valuations and stable currency [11]