Xin Lang Cai Jing·2025-08-29 00:35Core Viewpoint - China Life Insurance reported strong performance in the first half of the year, driven by strategic initiatives and a focus on transformation and development, with a net profit of 40.93 billion yuan, a 6.9% increase year-on-year, and total premiums reaching 525.09 billion yuan, up 7.3% [1][2] Strategic Initiatives - The company emphasized three proactive strategies: strategic initiative, transformation initiative, and development initiative, which have led to significant improvements in performance [2] - The strategic initiative includes a focus on asset-liability management and a diversified product structure, enhancing the company's resilience and competitive position in the market [2][3] Transformation Efforts - China Life has been focusing on cost reduction, efficiency improvement, product diversification, and marketing system reform, resulting in increased productivity and a higher proportion of floating products in new business [2][3] - The company aims to optimize product offerings in the areas of elderly care, health, and wealth management to capture potential growth points [3] Market Outlook - The company remains optimistic about the A-share market, focusing on sectors such as technology innovation, advanced manufacturing, and high-dividend stocks to enhance investment returns [4][5] - China Life's investment assets reached 7.13 trillion yuan, a 7.8% increase from the end of last year, with a net investment income of 96.07 billion yuan and a net investment yield of 2.78% [5] Capital Management - The company maintains a strong solvency level, exceeding regulatory requirements, and is exploring various external capital supplementation channels to enhance its capital base [8][9] - The effective duration gap of new business assets and liabilities has been reduced to 1.5 years, improving the company's ability to manage interest rate risks [9] Digital Transformation - China Life is advancing its digital transformation by optimizing sales and service processes and developing a new business model based on a digital ecosystem, which has already exceeded initial revenue expectations from the internet channel [9]