Xin Hua Cai Jing·2025-08-27 11:33Core Viewpoint - The insurance capital represented by China Ping An has increased its market participation this year, benefiting from favorable policies and market conditions for long-term investments [2][3] Group 1: Investment Strategy - China Ping An's investment in financial stocks, particularly in banks and insurance, is characterized as a financial investment focused on low volatility and high dividends, which aligns with the typical operations of insurance capital [2] - As of June 30, 2025, the market value of stocks and equity funds in China Ping An's investment portfolio reached 778.4 billion, a 36% increase from the beginning of the year, with equity assets accounting for 12.6% of the total [2] - The equity investment return rate for the first half of the year was 13.05%, a significant increase of 672 basis points year-on-year [2] Group 2: Market Outlook - The company sees structural opportunities in the capital market due to domestic policy benefits, technological industrialization, and reasonable stock market valuations [2] - There is a notable increase in trading volume in both A-shares and H-shares, indicating a recovery in market confidence [3] Group 3: New Quality Productivity Investment - Investment in new quality productivity requires a balance of risk and return, with an emphasis on optimizing internal decision-making processes and risk control models [4] - The company collaborates with leading domestic investment institutions to enhance investment returns and efficiency through a "capital + capability" model, covering sectors like renewable energy, AI, and biopharmaceuticals [4] Group 4: Life Insurance Business Reform - The new business value from the bancassurance channel of Ping An's life insurance segment saw a year-on-year increase of 168.6% in the first half of 2025, contributing 33.9% to the new business value [4] - The company aims to further develop its bancassurance business by expanding its network, increasing workforce, optimizing products, and enhancing outlet productivity, expecting continued rapid growth in this channel [5]