Zhong Guo Zheng Quan Bao·2025-09-04 22:06Core Viewpoint - China Ping An is actively embracing change in response to a new market environment, focusing on reform and innovation while maintaining a steady approach to growth [1][2]. Group 1: Product Strategy - The company is implementing a product strategy centered around "transforming dividends, expanding annuities, and strengthening medical insurance," continuously enriching and upgrading its insurance product system [1][2]. - Following the adjustment of the preset interest rate in September, wealth and pension products will fully transition to dividend-type products, with a gradual increase in the supply of dividend-type protection products [2]. - By the first half of 2025, the proportion of dividend insurance in individual insurance new business is expected to rise to around 40% [2]. Group 2: Channel Development - China Ping An is promoting the collaborative development of various channels, including agent channels, bank insurance channels, and community financial services, emphasizing that both products and channels must adapt to market changes [2][3]. - The company aims to deepen the high-quality transformation of its agent workforce and expand the bank insurance channel, which has significant growth potential [3]. Group 3: AI Integration - The term "AI" has seen a significant increase in mentions in the company's mid-term reports, indicating a strong focus on integrating AI across its operations [4]. - The company believes that the digital and intelligent capabilities driven by AI will lead to disruptive changes in the financial industry, enhancing service coverage and operational efficiency [5]. - China Ping An has developed a comprehensive financial service system that integrates various financial products and services, leveraging AI to enhance customer experience and operational capabilities [5][6]. Group 4: Investment Strategy - As a major player managing 6.2 trillion yuan in insurance funds, China Ping An is actively increasing its equity investments, particularly in high-dividend stocks, while maintaining a balanced approach to risk and return [7][8]. - The proportion of equity and fund allocations in the capital market has increased from 9.9% at the end of 2024 to 12.6% by mid-2025, reflecting a positive market trend [7]. - The company is also focusing on investing in new productive sectors, such as renewable energy, AI, and biopharmaceuticals, through partnerships with leading investment institutions [8].