Xin Lang Cai Jing·2025-10-21 02:42Group 1 - The non-bank financial sector has reported better-than-expected performance in Q3, with several companies announcing profit increases for the first three quarters of 2025 [1] - Xinhua Insurance expects a net profit attributable to shareholders of the parent company to be between 29.986 billion and 34.122 billion yuan, an increase of 9.306 billion to 13.442 billion yuan compared to the same period in 2024, representing a year-on-year growth of 45% to 65% [1] - China Life anticipates a net profit of approximately 156.785 billion to 177.689 billion yuan for the first three quarters of 2025, an increase of about 52.262 billion to 73.166 billion yuan compared to 2024, indicating a year-on-year growth of about 50% to 70% [1] Group 2 - As of the end of 2024, the balance of insurance fund utilization reached 33.26 trillion yuan, a year-on-year increase of 15.08%, outpacing the average growth rate of the asset management industry [2] - The asset allocation structure is increasingly favoring standard products, with bond allocation rising to 50.7% and stock allocation increasing to 8.3% [2] - Insurance companies are actively increasing their equity asset allocation in the context of a recovering capital market, with China Life's stock and fund allocation growing by approximately 36% compared to the same period last year [2] Group 3 - As of October 20, 2025, the latest scale of the Hong Kong Stock Connect Non-Bank Financial ETF reached 20.778 billion yuan, with net inflows of 9.62 billion yuan over the past five trading days [3] - The Hong Kong Stock Connect Non-Bank Financial ETF is the first and only ETF tracking the Hong Kong non-bank index, with over 60% of its allocation in insurance stocks [3] - The ETF selects up to 50 listed companies that meet the non-bank financial theme from the Hong Kong Stock Connect securities range to reflect the overall performance of these companies [3]