Jing Ji Guan Cha Wang·2025-08-28 08:34Core Viewpoint - China Life Insurance Company reported strong performance in its 2025 interim results, with total assets and investment assets exceeding 7 trillion yuan, net profit of 40.9 billion yuan, and premium income of 525.088 billion yuan, indicating robust growth in a challenging market environment [2][3]. Group 1: Financial Performance - As of June 30, 2025, China Life's total assets and investment assets both surpassed 7 trillion yuan, achieving a net profit of 40.9 billion yuan, equivalent to approximately 2.3 billion yuan per day [2]. - The company collected 525.088 billion yuan in premiums, averaging about 14.38 billion yuan per day, with long-term insurance policies reaching 327 million, meaning one in four individuals holds a policy [2]. - The board proposed a mid-term cash dividend of 2.38 yuan per 10 shares, totaling 6.727 billion yuan in cash dividends [2]. Group 2: Premium Income and Growth Channels - In the first half of 2025, total premiums reached 525.088 billion yuan, marking a historical high for the same period, with a year-on-year growth of 7.3% [3]. - The individual agent channel generated 400.448 billion yuan, while the bank insurance channel achieved 72.444 billion yuan, with the latter growing by 45.7% year-on-year [3][4]. - New single premiums from the individual insurance channel fell by 24.16% to 64.252 billion yuan, while the bank insurance channel saw a significant increase of 111.1% in new single premiums, reaching 35.873 billion yuan [4]. Group 3: Investment Strategy and Market Outlook - China Life's investment assets reached 71.27153 trillion yuan, growing by 7.8% from the end of 2024, with net investment income of 96.067 billion yuan and a net investment yield of 2.78% [6]. - The company added over 150 billion yuan in equity investments in the first half of 2025, reflecting a positive outlook on the equity market [6][7]. - The company maintains a balanced and flexible asset allocation strategy, focusing on opportunities in technology innovation, consumer manufacturing, and new consumption sectors [7][8].