Group 1 - China Ping An increased its stake in China Pacific Insurance (CPIC) by acquiring approximately 1.74 million H-shares at a price of HKD 32.07 per share, totaling around HKD 55.84 million, raising its ownership from 4.98% to 5.04%, thus reaching the threshold for mandatory disclosure [1] - Since the second half of last year, the "Ping An system" has been active in the Hong Kong stock market, increasing stakes in various banks, with Ping An Life's stake in China Merchants Bank rising from 5% at the beginning of the year to 15% [1] - The investment in CPIC is considered a financial investment and part of the regular operations of insurance capital equity investment portfolios, with analysts suggesting that the rationale behind this investment is similar to that of bank shares, focusing on financial considerations and the current low valuation of insurance stocks [1] Group 2 - As of the report date, CPIC's H-shares were trading at HKD 36.26, reflecting a 4.6% increase, with a year-to-date gain exceeding 40% and a dividend yield of 3.27% [2] - For 2024, CPIC is projected to achieve an operating revenue of CNY 404.09 billion, a year-on-year increase of 24.7%, and a net profit attributable to shareholders of CNY 44.96 billion, up 64.9%, with total managed assets reaching CNY 3.54 trillion, a growth of 21.2% from the previous year [2] - From January to July 2025, CPIC's subsidiary, China Pacific Life Insurance, reported original insurance premium income of CNY 185.96 billion, a 9.0% increase year-on-year, while China Pacific Property Insurance reported CNY 128.63 billion, a 0.8% increase [2] - Since its listing, CPIC has distributed dividends 18 times, totaling CNY 119.28 billion, with CNY 85.41 billion from A-shares and CNY 33.87 billion from H-shares [2]