Shang Hai Zheng Quan Bao·2025-04-26 02:23Core Viewpoint - The company reported its Q1 2025 financial results, highlighting a slight increase in insurance service revenue but a significant decline in net profit compared to the previous year [6][8]. Financial Data - The company achieved insurance service revenue of 69.55 billion RMB in Q1 2025, representing a year-on-year growth of 3.9% [6]. - The net profit for the group was 29.63 billion RMB, showing a decrease of 18.1% year-on-year [6]. - The life insurance segment generated 20.98 billion RMB in service revenue, up 0.6% year-on-year, while the property insurance segment reported 47.74 billion RMB, an increase of 4.8% [6][12]. Business Segment Analysis - The life insurance segment reported a premium income of 118.42 billion RMB, reflecting an 11.8% increase year-on-year, with new business value rising to 5.78 billion RMB, a growth of 11.3% [8]. - The property insurance segment achieved a premium income of 63.11 billion RMB, a 1.0% increase year-on-year, with a service revenue of 47.74 billion RMB, up 4.8% [12]. - The company emphasized a focus on high-quality development and customer-centric strategies across its distribution channels, including agent, bancassurance, and group channels [9][11]. Investment Performance - As of the end of Q1 2025, the company's investment assets totaled 2810.21 billion RMB, marking a 2.8% increase from the previous year [13]. - The net investment yield was 0.8%, remaining stable year-on-year, while the total investment yield was 1.0%, down 0.3 percentage points [13].