Xin Lang Cai Jing·2025-08-28 00:28Core Insights - The company achieved a net profit attributable to shareholders of 26.5 billion yuan in H1 2025, representing a year-on-year increase of 16.9% [1] - The combined ratio (COR) for property and casualty insurance improved by 1.5 percentage points to 95.3%, driven by significant optimization in expenses [2] - The new business value (NBV) for life insurance surged by 71.7% to 5 billion yuan, indicating strong growth in new policies [3] - The total investment yield increased to 5.1%, up by 1 percentage point year-on-year, despite a slight decline in net investment yield [4] Financial Performance - The group reported a net profit of 26.5 billion yuan in H1 2025, up 16.9% year-on-year [1] - The net investment yield was 3.7%, down by 0.1 percentage points, while the total investment yield was 5.1%, up by 1 percentage point [1][4] - The company proposed an interim dividend of 0.075 yuan per share (before tax) [1] Insurance Segment Analysis - The property and casualty insurance segment saw original premium income rise by 3.6% to 323.3 billion yuan, with a COR of 95.3% [2] - The life insurance segment's NBV increased by 71.7%, with new policies growing by 18% [3] - Health insurance NBV also grew by 51%, with new policies up by 12.3% [3] Investment Strategy - The company's investment assets increased by 7.2% to 1.76 trillion yuan as of H1 2025 [4] - The allocation to bonds was 49.7%, while equity investments rose to 5.4% [4] - The company is expected to benefit from proactive management of the property insurance business, leading to an upward revision of EPS forecasts for 2025-2027 [4]