Zheng Quan Shi Bao Wang·2026-01-12 10:14Core Viewpoint - China Life Insurance Company has demonstrated significant growth in net profit and investment assets, reflecting its commitment to national development strategies and robust investment management practices [2][3]. Financial Performance - In the first three quarters of 2025, China Life achieved a net profit attributable to shareholders of over 167.8 billion yuan, a 60.5% increase year-on-year [2]. - Shareholder equity reached 625.83 billion yuan, up 22.8% from the previous year [2]. - Investment assets doubled from 3574.9 billion yuan at the end of 2019 to 7282.9 billion yuan by the end of Q3 2025 [3]. Investment Strategy - The company adheres to a long-term, value-oriented, and stable investment philosophy, focusing on asset-liability matching principles [3]. - Total investment income for the first three quarters of 2025 was 368.55 billion yuan, an increase of 107.13 billion yuan (over 40%) compared to the same period in 2024 [3]. - The total investment return rate was 6.42%, up 104 basis points year-on-year [3]. Innovative Investment Models - In 2024, China Life launched the Honghu Fund, a 50 billion yuan private equity fund aimed at long-term capital investment [4]. - The company became a pioneer in insurance capital investment in gold, completing its first gold inquiry transaction in March 2025 [5]. - China Life also initiated the first data center asset-backed securities (ABS) in the market, enhancing the investment landscape for insurance funds [5]. Support for the Real Economy - China Life has invested 11.8 billion yuan in the "China Life-Hu Fa No. 1 Equity Investment Plan" to support state-owned enterprises in Shanghai [6]. - The company has strategically invested in green energy projects, becoming a major investor in companies like China Nuclear Power and Huadian New Energy [7]. - Investments in regional development projects, such as the 17 billion yuan investment in Yunnan's state-owned enterprises, demonstrate the company's commitment to local economic growth [8]. Focus on Emerging Industries - China Life has established a 4 billion yuan technology innovation fund targeting sectors like semiconductors and healthcare [9][10]. - The company has increased its equity market presence, adding over 150 billion yuan in public market equity by mid-2025 [10]. Future Outlook - As the "14th Five-Year Plan" progresses, China Life aims to leverage its long-term capital advantages to enhance its operational capabilities and contribute to China's modernization efforts [11].