Xin Lang Cai Jing·2025-09-02 00:29Core Insights - Xinhua Insurance reported a significant increase in revenue and net profit for the first half of 2025, with operating income reaching 70.041 billion yuan, up 26.0% year-on-year, and net profit attributable to shareholders at 14.799 billion yuan, up 33.5% [1] Group 1: Business Performance - The company achieved a rapid growth in new business value (NBV), driven by a strong increase in new policy premiums, with total original insurance premium income at 121.262 billion yuan, up 22.7% year-on-year [2] - The first-year premium income for long-term insurance reached 39.622 billion yuan, a remarkable increase of 113.1%, with first-year regular and lump-sum premiums growing by 64.95% and 353.3% respectively [2] - The new business value for the first half of 2025 was 6.182 billion yuan, reflecting a year-on-year increase of 58.4% [2] Group 2: Product Development - Xinhua Insurance accelerated its transformation towards dividend insurance, with premium income from dividend insurance increasing by 24.9% year-on-year, and new single scale premiums soaring by 231,250.0% [2] - The company has diversified its dividend product offerings to cater to different customer segments, including products like the "Shengshi Glory Zhiwin" whole life insurance and "Xinhua Zunyu" whole life annuity insurance [2] Group 3: Distribution Channels - The individual insurance channel saw an increase in NBV to 3.105 billion yuan, up 11.69% year-on-year, with long-term insurance first-year premiums reaching 14.506 billion yuan, up 70.8% [3] - The number of new agents increased by nearly 20,000, a year-on-year growth of 182%, significantly enhancing the workforce [3] - The bancassurance channel achieved a historical breakthrough in NBV, reaching 3.267 billion yuan, up 137.08% year-on-year, with new policy premiums increasing by 150.3% [3] Group 4: Investment Strategy - As of June 2025, the company’s investment in bonds and stocks accounted for 50.6% and 11.6% respectively, with a strategic shift towards high-dividend OCI equity tools [4] - The investment in high-dividend OCI equity tools grew from 30.640 billion yuan at the beginning of the year to 37.466 billion yuan, an increase of 6.826 billion yuan [4] - The annualized comprehensive investment return rate for the investment portfolio was 6.3%, with an annualized total investment return rate of 5.9% and a net investment return rate of 3.0% [4]