Xin Lang Cai Jing·2025-09-03 09:58Core Viewpoint - China Pacific Insurance (Group) Co., Ltd. (China Pacific Insurance) has demonstrated resilience in its financial performance, achieving significant growth in both revenue and net profit amid a challenging external environment [3][4]. Financial Performance - In the first half of 2025, China Pacific Insurance reported operating revenue of CNY 200.50 billion, a year-on-year increase of 3.0%, with insurance service revenue reaching CNY 141.82 billion, up 3.5% [3]. - The company achieved a net profit attributable to shareholders of CNY 27.88 billion, reflecting an 11.0% increase year-on-year, while operating profit rose by 7.1% to CNY 19.91 billion [3][4]. - The internal value of the company increased by 4.7% to CNY 588.93 billion compared to the end of the previous year [3]. Investment Performance - The net investment income for the first half of 2025 was CNY 42.57 billion, representing an 8.9% year-on-year growth, while total investment income reached CNY 56.89 billion, up 1.5% [7]. - The average comprehensive investment return over the past decade stands at 4.70%, placing the company at the top among its peers in the industry [10]. Asset Management - As of June 30, 2025, the total managed assets of China Pacific Insurance reached CNY 3.77 trillion, a 6.5% increase from the end of the previous year, with third-party managed assets growing by 5.0% to CNY 848.23 billion [5][6]. - The company has maintained a stable dividend level, distributing over CNY 10.3 billion in cash dividends for the 2024 fiscal year [3]. Strategic Focus - The company is committed to a "steady progress" approach, focusing on high-quality development and deepening reforms to enhance long-term capabilities [4]. - China Pacific Insurance emphasizes a dividend strategy in its investment approach, particularly in the Hong Kong stock market, to optimize the risk-return profile of its insurance fund investments [8][12]. Market Positioning - The company has strategically increased its investments in high-dividend sectors, particularly in the Hong Kong market, to leverage stable cash flows and enhance investment returns [8][13]. - China Pacific Insurance has established new private equity funds to support long-term investments, demonstrating its commitment to utilizing insurance capital effectively [9].