两次披露重大投资损失，和泰人寿终迎高管补位：刚履职半年，总精崔传波晋升唯一副总；首季亏损0.96亿，高管最高薪酬超600万…

Core Viewpoint - The recent appointment of Cui Chuanbo as the Vice President of HeTai Life Insurance marks a significant leadership change in the company, which has faced challenges in profitability and management stability since its establishment in 2017 [1][2]. Leadership Changes - Cui Chuanbo has been promoted to Vice President after serving as the Chief Actuary for less than a year, indicating a rapid internal advancement within the company [2][4]. - The company has experienced a high turnover in its executive team, with the Vice President position vacant for nearly a year prior to Cui's appointment [5]. Financial Performance - HeTai Life Insurance reported a net loss of 0.96 billion yuan in the first quarter of 2025, reversing from a profit of 0.41 billion yuan in the same period last year [10][11]. - The company's total assets decreased by 6.35% to 138.76 billion yuan, while net assets fell by 32.75% to 2.69 billion yuan [10]. - Insurance business revenue for the first quarter of 2025 was 6.45 billion yuan, reflecting a year-on-year growth of 63.29% [10]. Investment Losses - HeTai Life has disclosed two significant investment losses in 2025, including a 2.7 billion yuan investment in the "20 Shenye 03" bond, which led to a provision for impairment of 1614.86 million yuan [12][13]. - Cumulative asset impairment provisions reached 75.92 million yuan by June 2025, with 65.07 million yuan recognized in the second quarter [1][10]. Shareholder Structure - The shareholder structure of HeTai Life has changed, with Jin Century Engineering becoming the largest shareholder after acquiring additional shares from Beijing Yingke Bicheng [7]. - Several major shareholders have significant portions of their shares pledged or frozen, impacting their voting rights within the company [8][9].