Di Yi Cai Jing·2025-10-30 14:08Core Insights - The company reported a 19.3% year-on-year increase in net profit attributable to shareholders for the first three quarters, with a significant 35.2% growth in the third quarter [1] - The strong performance is attributed to the rise in capital markets and improved insurance service results [1] - The annualized net investment return rate for the first three quarters was 2.6%, a decrease of 0.3 percentage points year-on-year, while the total investment return rate increased by 0.5 percentage points to 5.2% [1] Investment Strategy - The company emphasizes the importance of growth stocks for insurance funds, aligning with China's future high-quality growth driven by technological innovation [2] - The company has been actively exploring opportunities in various sectors such as technology innovation, energy transition, healthcare, automotive resources, and new consumption [2] - The life insurance segment achieved a premium income of 263.863 billion yuan, a 14.2% increase year-on-year, with new business value rising by 7.7% [2] Distribution Channels - The bancassurance channel saw a remarkable growth of 63.3% in premiums, significantly outpacing the agency channel, which grew by only 2.9% [2] - The company noted a shift in the bancassurance premium composition, with the share from state-owned banks increasing from 22% to approximately 36% [3] - The core development strategy for the bancassurance channel in the coming year will focus on increasing the number of cooperative outlets with state-owned banks, targeting a growth rate of 35% to 40% [3]