Core Viewpoint - China Life Insurance reported a net profit of 40.931 billion yuan for the first half of 2025, marking a year-on-year increase of 6.9% [1] Financial Performance - Total assets and investment assets of China Life exceeded 7 trillion yuan, reaching 72.9 trillion yuan and 71.3 trillion yuan respectively by the end of June [1] - The company proposed a mid-year cash dividend of 2.38 yuan per 10 shares, totaling 6.727 billion yuan [1] - Total premium income for the first half of 2025 was 525.088 billion yuan, up 7.3% year-on-year [1] - Breakdown of premium income: - Life insurance premiums: 439.134 billion yuan, up 8.5% - Health insurance premiums: 78.958 billion yuan, up 2.0% - Accident insurance premiums: 6.996 billion yuan [1] Business Channels - Individual insurance channel premiums totaled 400.448 billion yuan, a 2.6% increase, with renewal premiums at 326.563 billion yuan, up 10.4% [1] - Bank insurance channel premiums reached 72.444 billion yuan, showing a significant growth of 45.7% [1] Investment Performance - Investment assets as of June 30, 2025, were 71.3 trillion yuan, a 7.8% increase from the end of 2024 [2] - Net investment income for the first half of 2025 was 96.067 billion yuan, with a net investment yield of 2.78% [2] - Total investment income was 127.506 billion yuan, with a total investment yield of 3.29% [2] Industry Outlook - The company emphasized a shift in industry focus from scale expansion to value creation and efficiency improvement [2] - Key areas for high-quality development include enhancing asset-liability matching, accelerating product transformation, and building a health and wellness ecosystem [2] - The importance of technology in operations to reduce costs and improve efficiency was highlighted, along with the need for a professional sales team and comprehensive customer lifecycle services [2] Management Strategy - The chairman of China Life Insurance, Cai Xiliang, stated the commitment to enhancing long-cycle and cross-cycle management capabilities, focusing on efficiency, long-term strategies, and risk management [3]