Core Viewpoint - China Pacific Insurance (02328) reported a strong performance for the first half of 2025, with significant increases in key financial metrics, leading to a stock price increase of over 6% following the earnings announcement [1][2]. Financial Performance - The company achieved original insurance premium income of RMB 323.28 billion, a year-on-year increase of 3.6% [1]. - Insurance service income reached RMB 249.04 billion, reflecting a year-on-year growth of 5.6% [1]. - Underwriting profit was RMB 13.015 billion, marking a substantial year-on-year increase of 44.6% [2]. - Net profit for the period was RMB 24.455 billion, which is a 32.3% increase compared to the previous year [2]. Market Position - The company maintained a market share of 33.5% in the Chinese property insurance market, reinforcing its leading position in the industry [1]. Cost and Efficiency - The comprehensive cost ratio improved to 94.8%, a decrease of 1.4 percentage points year-on-year [2]. - The comprehensive cost ratio for auto insurance was 94.2%, down 2.2 percentage points, while the non-auto insurance comprehensive cost ratio was 95.7%, a slight decrease of 0.1 percentage points [2]. Investment Strategy - The company and its subsidiaries adopted a dual-driven strategy of insurance and investment, optimizing asset allocation to enhance long-term operational capabilities [2]. - Total investment income reached RMB 17.26 billion, representing a year-on-year growth of 26.6% [2]. - The return on equity (annualized) was 9.0%, an increase of 1.3 percentage points year-on-year [2].
港股异动 | 中国财险(02328)绩后涨超6% 上半年净利同比增加32.3% 实现原保险保费收入3232.82亿元