Core Viewpoint - The stock prices of China Pacific Insurance (601319) have reached record highs due to strong performance and favorable market conditions, significantly outperforming peers and the broader market since the start of the 14th Five-Year Plan [1][2]. Group 1: Stock Performance - In the first half of the year, China Pacific Insurance's A-shares hit their highest price in nearly six years, while H-shares reached their highest price in 13 years, and the H-shares of China Pacific Property Insurance hit their highest price in 22 years [1]. - The cumulative increase in stock prices for A-shares, H-shares, and China Pacific Property Insurance H-shares has significantly outperformed both industry peers and the overall market during the past four complete years [1]. Group 2: Factors Driving Stock Price Increase - The rise in stock prices is attributed to multiple factors, including China's high-quality economic development, which has created historic opportunities for the insurance industry [2]. - New demands for insurance services have emerged from sectors such as technological innovation, green development, digital economy, and elderly care, enhancing the insurance industry's role in supporting China's modernization [2]. - Regulatory improvements and policies aimed at enhancing the insurance sector's core functions have further supported the industry's stable growth and risk management [2]. Group 3: Company Fundamentals - China Pacific Insurance has shown continuous improvement in its fundamentals, with a significant enhancement in value creation capabilities [3]. - The comprehensive cost ratio for property insurance reached 95.3%, marking the best level for the same period in nearly a decade, while new business value in life insurance and total investment income also hit historical highs [3]. - The group reported a total investment income of 41.5 billion yuan and a consolidated net profit of 35.9 billion yuan, both achieving historical records for the same period [3].