Di Yi Cai Jing·2025-08-29 12:13Core Viewpoint - Xinhua Insurance's stock has shown significant growth in both A-shares and H-shares, with a year-to-date annualized total investment return of 5.9%, reflecting its strong investment value despite market challenges [1][2]. Group 1: Investment Performance - Xinhua Insurance's A-share price closed at 68.24 yuan on August 29, with a 5.49% increase, reaching a peak of 71.16 yuan during the day [1]. - The company reported a year-on-year increase of 1.1 percentage points in its annualized total investment return, reaching 5.9% for the first half of the year [1]. Group 2: Asset Management Strategy - The company is focusing on asset-liability linkage to address challenges posed by declining interest rates and rigid liabilities [2][3]. - Xinhua Insurance plans to maintain a strategic focus on long-term bonds while optimizing equity investment structures to achieve stable excess returns [3]. - The investment in high-dividend stocks has increased from 30.64 billion yuan at the beginning of the year to 37.47 billion yuan by mid-year, marking a growth of 6.83 billion yuan [3]. Group 3: Fund Initiatives - Xinhua Insurance has been approved to participate in long-term investment pilot programs, establishing the Honghu Fund in collaboration with China Life [4]. - The first phase of the pilot fund has completed its investment, achieving good returns, while the second phase has also reached its investment goals [4]. - The third phase of the fund, initiated in July, focuses on large listed companies with stable governance and operations, with Xinhua Insurance planning to invest a total of 46.25 billion yuan [4]. Group 4: Future Investment Plans - In 2025, Xinhua Insurance has made significant moves in asset allocation, acquiring shares in Hangzhou Bank and Beijing Holdings [5][6]. - The company acquired 330 million shares of Hangzhou Bank for approximately 4.3 billion yuan, increasing its stake to 5.87% [5][6]. - Xinhua Insurance also increased its stake in Beijing Holdings to 5% through market purchases, indicating confidence in the long-term prospects of these companies [6].