Core Viewpoint - Junlong Life Insurance has officially opened its Shanghai branch, marking a significant step for the company as a cross-strait joint venture in the insurance sector, aiming to enhance its market presence and capitalize on Shanghai's unique advantages [10][11]. Company Overview - Junlong Life Insurance is headquartered in Xiamen and is the first and only cross-strait joint venture life insurance company in Fujian Province, with equal shareholding from Xiamen Jianfa Group and Taiwan Life [1]. - The company has adopted a dual-driven model of "insurance + healthcare" and "equity investment empowerment" to build a robust anti-cyclical capability amid industry-wide downward pressure on interest rates [1]. Financial Performance - In the first half of 2025, Junlong Life Insurance achieved an investment return rate of 4.67%, ranking first among 57 non-listed life insurance companies [1]. - The company's net profit reached 220 million yuan, setting a historical record for the firm [1]. Investment Strategy - The company emphasizes the importance of asset allocation to achieve positive interest spreads, especially in a low-interest-rate environment [1]. - Junlong Life Insurance plans to allocate a portion of its assets to low-risk long-term interest rate bonds and REITs in data centers and energy assets to match the yield spread [2]. Market Focus - The company is optimistic about sectors aligned with national strategic directions, particularly in technology, healthcare, and energy [5][7]. - Junlong Life Insurance sees significant potential in the digitalization and smart technology sectors, particularly in chip demand and domestic substitution trends [6]. - The healthcare sector is also a key focus, with innovations in medical devices and pharmaceuticals expected to drive growth [6][8]. Product Development - The company recognizes the growing popularity of participating insurance products and believes that strong investment capabilities are essential for their development [9]. - Junlong Life Insurance aims to expand its total asset scale through these products while ensuring that they align with the company's investment capabilities [9]. Strategic Expansion - The establishment of the Shanghai branch is viewed as a strategic move to leverage Shanghai's market potential and resources, enhancing the company's ability to innovate insurance products and services [10][11]. - The company plans to deepen its market presence in Shanghai, contributing to the development of the international financial center and promoting high-quality growth in the insurance industry [11].