Xin Lang Cai Jing·2025-09-30 21:05Core Viewpoint - China Life Insurance Co., Ltd. has completed the reduction of its stake in Hangzhou Bank, marking the end of a 16-year investment relationship, with a total net investment return of 1.893 billion yuan and an investment yield exceeding 150% [1][2] Group 1: Shareholder Actions - China Life has reduced its holdings by a total of 507,894,300 shares, accounting for no more than 0.70% of Hangzhou Bank's total ordinary shares [1] - The reduction is viewed as a market-driven decision based on China Life's asset allocation and investment management needs, with minimal impact on the market due to the small proportion of shares sold [2] Group 2: Financial Performance - Hangzhou Bank reported a revenue of 20.093 billion yuan for the first half of 2025, representing a year-on-year increase of 3.90%, and a net profit of 11.662 billion yuan, up 16.66% year-on-year [2] - The bank has maintained a nearly 20% annualized growth rate in net profit since its listing, with a non-performing loan ratio of 0.76% and a provision coverage ratio exceeding 520% [2] Group 3: Capital Structure and Strategy - Hangzhou Bank completed a 15 billion yuan convertible bond conversion, resulting in a core Tier 1 capital adequacy ratio of 9.74%, an increase of 0.89 percentage points since the beginning of the year [3] - The bank aims for reasonable growth in volume and effective improvement in efficiency, adhering to a "light capital" strategy without solely pursuing scale growth [3] Group 4: Shareholder Returns - Hangzhou Bank has significantly increased its dividend payouts, with net profit growing 3.3 times from 2016 to 2024, and plans to balance investor interests with sustainable development by implementing cash dividends twice a year [3]