中国平安中报：增加分红，打造AI护城河

Core Viewpoint - The mid-year performance report of China Ping An Insurance reveals steady growth in operational profit and net profit, alongside a significant increase in new business value, driven by strategic investments and AI integration in operations [1][2][3]. Financial Performance - In the first half of 2025, China Ping An achieved an operational profit of 77.732 billion yuan, a year-on-year increase of 3.7%, and a net profit of 68.047 billion yuan, with total revenue reaching 500.076 billion yuan [1]. - The company announced a mid-term dividend of 0.95 yuan per share, reflecting a 2.2% increase, continuing its trend of rising dividends for 13 consecutive years [1]. Investment Strategy - The investment portfolio of China Ping An yielded a non-annualized comprehensive investment return of 3.1%, up by 0.3 percentage points year-on-year, with a ten-year average net investment return of 5% [2]. - The company emphasizes a long-term investment approach, focusing on value and technology growth in equity investments, while actively managing fixed-income investments [2]. New Business Value Growth - The new business value from life and health insurance increased by 39.8% year-on-year, reaching 22.335 billion yuan, with a new business value rate up by 9 percentage points [3]. - The agency channel saw a 17% increase in new business value, while the bank insurance channel experienced a substantial growth of 168.6% [3]. AI Integration - China Ping An is leveraging AI to enhance its financial services, with significant data accumulation and application across various scenarios, including insurance and healthcare [4][5]. - The company reported 8.18 billion calls to its AI models in the first half of 2025, with applications in customer service and fraud detection leading to substantial cost reductions and efficiency improvements [5]. Healthcare and Elderly Care Strategy - The company is actively building a "insurance + healthcare" ecosystem, with nearly 70% of new business value coming from clients with access to healthcare services [6]. - In the first half of 2025, health insurance premium income reached nearly 87 billion yuan, with medical insurance premiums exceeding 41 billion yuan, reflecting a 3.3% year-on-year growth [6]. Elderly Care Initiatives - China Ping An is developing a comprehensive healthcare service model, including internet medical platforms and home care services, covering 85 cities and serving over 130 million clients [7]. - The company's investments in healthcare and elderly care are expected to enhance customer satisfaction and drive revenue growth through cross-selling opportunities [7].