Sou Hu Cai Jing·2025-09-01 11:34Core Insights - As of June 30, 2025, Xinhua Insurance's investment scale exceeded 1.7 trillion yuan, representing a 5.1% increase from the end of the previous year, with an annualized total investment return rate of 5.9%, up 1.1 percentage points year-on-year [2][14] - The company reported an operating income of 70.041 billion yuan, a year-on-year increase of 26%, and a net profit attributable to shareholders of 14.8 billion yuan, up 33.5% year-on-year [2] - Xinhua Insurance plans to distribute a mid-term cash dividend of 0.67 yuan per share, totaling approximately 2.09 billion yuan, which accounts for 14.1% of the company's net profit for the first half of 2025 [2] Financial Performance - Original insurance premium income reached 121.262 billion yuan, a 22.7% increase year-on-year, with new business value at 6.182 billion yuan, up 58.4% [5][6] - The company's internal value stood at 279.394 billion yuan, an 8.1% increase from the end of the previous year [5] - The first-year premium income for long-term insurance surged by 113.1% to 39.622 billion yuan, with first-year regular premium income increasing by 64.9% [4][6] Investment Strategy - Xinhua Insurance's investment strategy includes a focus on high-quality assets to withstand low-interest-rate challenges, with a total investment scale of over 1.7 trillion yuan [9] - The company has actively participated in the Honghu Fund, with a planned total investment of 46.25 billion yuan across three phases [3][12] - The investment portfolio consists of 50.6% bonds, 11.6% stocks, and 7.0% funds, with a notable increase in core equity size by 4.0% to 319.4 billion yuan [9][10] Product Development - The company has successfully transformed its dividend insurance offerings, with significant growth in first-year premium income from individual channels [8] - The contribution of dividend insurance products is expected to increase, with a focus on enhancing product competitiveness and innovation in sales and service [8] - Xinhua Insurance aims to improve asset-liability matching and mitigate risks associated with interest rate fluctuations through strategic adjustments [8]