13个精算师·2025-08-27 04:21Core Viewpoint - China Ping An's 2025 interim report shows stable growth in core performance indicators, with a focus on shareholder returns and strategic development in comprehensive finance and healthcare services [1][3]. Financial Performance - Operating revenue reached 500.1 billion RMB, a 1.0% increase year-on-year [2]. - The attributable operating profit was 77.7 billion RMB, up 3.7% year-on-year, with a return on equity (ROE) of 7.5% [3]. - The total assets of China Ping An exceeded 13 trillion RMB, growing by 4.3% since the beginning of the year [3]. - The interim dividend per share was 0.95 RMB, reflecting a 2.2% increase, with total dividends amounting to 17.2 billion RMB [3]. Customer and Business Growth - The number of individual customers reached 247 million, a 1.8% increase, with a retention rate of 97.8% for customers holding four or more contracts [5]. - New business value in life and health insurance surged by 39.8% to 22.3 billion RMB, with a new business margin of 10.7% [8][10]. Insurance Business Performance - Property insurance premium income grew by 7.1% to 171.9 billion RMB, with underwriting profit increasing by 125.9% [20][21]. - The comprehensive cost ratio improved by 2.6 percentage points to 95.2% [21]. - The company launched 1,741 products, providing risk coverage of 189 trillion RMB to small and micro enterprises [28]. Investment Performance - The investment portfolio exceeded 6.2 trillion RMB, with a non-annualized comprehensive investment return of 3.1%, up 0.3 percentage points year-on-year [30][28]. Strategic Outlook - The company aims to deepen its dual strategy of comprehensive finance and healthcare, leveraging technology for digital transformation and enhancing service differentiation [32].