Zhong Guo Zheng Quan Bao·2025-08-29 20:17Core Viewpoint - Xinhua Insurance reported strong financial results for the first half of 2025, with significant growth in key operational metrics, leading to a surge in stock prices and recognition of its investment value in the market [1][2]. Financial Performance - The company achieved a revenue of 70.04 billion yuan, a year-on-year increase of 26% [1] - Original insurance premium income reached 121.26 billion yuan, up 22.7% year-on-year [1] - Net profit attributable to shareholders was 14.8 billion yuan, reflecting a 33.5% increase [1] - New business value grew to 6.18 billion yuan, marking a 58.4% year-on-year rise [1] Strategic Developments - Xinhua Insurance has focused on systematic, professional, market-oriented, and refined management, transitioning towards customer-centric and high-quality development [2] - The company has enhanced its competitive strength and internal value through a comprehensive framework supporting long-term development [2] - Product offerings have been diversified to improve competitiveness, and the agent workforce has been upgraded with new training and development programs [2] Investment Management - The annualized total investment return rate was 5.9%, with a comprehensive investment return rate of 6.3%, positioning the company favorably within the industry [3] - Xinhua Insurance has adapted its investment strategies to the low-interest-rate environment, optimizing asset allocation and enhancing the synergy between assets and liabilities [3][4] - The company is focusing on high-dividend stocks to provide stable cash flow and mitigate profit volatility under new accounting standards [4] Asset-Liability Management - The company emphasizes the importance of asset-liability management to mitigate risks associated with declining fixed-income asset safety margins [4] - Xinhua Insurance is actively participating in long-term investment reforms and has invested 46.25 billion yuan in various strategic funds [5] - The company is strategically increasing its holdings in quality assets to strengthen long-term returns [5] Product Transformation - Xinhua Insurance is actively promoting the transformation of dividend insurance products to share risks and benefits with customers, thereby reducing rigid liabilities [6] - The company has established a dedicated team to drive the sales and management of dividend insurance, resulting in significant growth in premium income from this product line [6][7] - The focus for the second half of the year will be on enhancing the structure of protection and dividend insurance products to support sustained value growth [7]