2 1 Shi Ji Jing Ji Bao Dao·2025-08-26 13:57Core Viewpoint - China Ping An's mid-year performance demonstrates resilience and innovation, with steady growth in operating profit and significant increases in new business value for life and health insurance [1][2][4]. Group 1: Financial Performance - In the first half of 2025, China Ping An achieved an operating profit of 77.732 billion RMB, a year-on-year increase of 3.7%, and a net profit of 68.047 billion RMB [1][2]. - The company declared an interim dividend of 0.95 RMB per share, reflecting a 2.2% increase year-on-year [1][4]. - The investment portfolio yielded a non-annualized comprehensive return of 3.1%, up 0.3 percentage points from the previous year [1][7]. Group 2: Business Growth - The new business value (NBV) for life and health insurance surged by 39.8% year-on-year, reaching 22.335 billion RMB [9][10]. - The agent channel's new business value grew by 17.0%, while the bancassurance channel saw a remarkable increase of 168.6% [9][10]. - The company reported a customer retention rate of 94.6% for long-term clients, with 73.8% of clients having been with the company for over five years [5]. Group 3: Strategic Initiatives - The "comprehensive finance + medical and elderly care" strategy is being effectively implemented, enhancing core business operations [4][8]. - AI applications are integrated across all processes, with an 80% coverage of AI service seats and a 94% instant underwriting rate for life insurance policies [12][14]. - The medical and elderly care services have reached nearly 63% of individual clients, significantly increasing customer engagement and contract numbers [6][8]. Group 4: Market Sentiment - Multiple brokerages express optimism regarding Ping An's mid-year results, highlighting strong performance in NBV and asset management [3][4]. - The stock performance of Ping An has been robust, with H-shares reaching a four-year high amid a bullish market for the insurance sector [3][4]. - Analysts predict that AI technology could drive annual revenue growth of 2.5% over the next decade, indicating a positive outlook for the company's future [15].