Core Viewpoint - The article emphasizes the importance of public funds in serving the real economy and protecting investors' rights, highlighting the ongoing reforms and quality development in the public fund industry under the guidance of the "Action Plan for Promoting High-Quality Development of Public Funds" [2][3]. Group 1: Serving the Real Economy - The fundamental purpose of fund management is to serve the real economy and help investors share in the long-term development of the Chinese economy [3]. - The company focuses on both emerging industries and mature industries, conducting in-depth research to identify investment opportunities during different economic phases [3][4]. - The company has strategically positioned its products in various sectors, including innovative technology, new energy vehicles, artificial intelligence, and high-end manufacturing, aligning with the themes of economic transformation and industrial upgrading [3][4]. Group 2: Protecting Investor Returns - The company believes that serving the real economy and creating returns for investors are complementary processes, emphasizing a long-term investment philosophy [5][6]. - Various measures are implemented to protect investor rights, including diverse product designs with different holding periods and optimized fee structures to encourage long-term investment [6][7]. - The assessment mechanism has shifted focus from relative rankings to absolute returns and other performance metrics, ensuring alignment with product positioning [7]. Group 3: Investor Education - Investor education is crucial for helping the public understand the market and invest rationally, with the company actively participating in initiatives to enhance investor education and protection [8][9]. - The company collaborates with media and other institutions to promote investment knowledge, covering topics such as personal retirement planning and asset allocation [8][9]. - Various platforms, including social media, are utilized to disseminate investment knowledge to different customer segments, enhancing awareness of quantitative investment and fund investment [9]. Group 4: Future Outlook - Looking ahead, the company aims to continue its efforts in serving the real economy, enhancing investor returns, and contributing to the high-quality development of the public fund industry [9].

Core Viewpoint - AIA Group, the largest life insurance group in Asia, reported a strong financial performance for the first half of the year, with significant growth in new business value and operating profit, and is set to launch its wholly-owned asset management company by the end of the year [1][6]. Financial Performance - AIA Group achieved a post-tax operating profit of approximately $3.609 billion for the first half of the year, with a year-on-year increase of 12% [1]. - The new business value reached $2.838 billion, reflecting a 14% year-on-year growth, with a new business value margin of approximately 57.7%, up by 3.4 percentage points [1]. - In mainland China, AIA Life reported a new business value of about $743 million, with a new business value margin of 58.6%, an increase of 2 percentage points year-on-year [1]. Market Outlook - AIA's Chief Investment Officer, Mark Konyn, expressed optimism about the potential for further increases in Hong Kong stocks, citing a year-to-date increase of 33.14% in AIA's stock price and a 25.15% rise in the Hang Seng Index [2][4]. - The outlook for Hong Kong's economy and corporate earnings is moderately optimistic, with a GDP growth rate of 3.1% in Q2 2025 [4]. Asset Management Company - AIA Asset Management, headquartered in Shanghai, is expected to commence operations by the end of the year, with the initial focus on the group's proprietary business [7][8]. - The company will recruit talent from the market and transfer some employees from the life insurance business to form its core team [7]. - AIA Group manages nearly $300 billion in assets, primarily invested in fixed income, while ensuring not to overexpose itself to interest rate risks [8]. Expansion in Mainland China - AIA Life has rapidly expanded its insurance business in mainland China, becoming the first wholly foreign-owned life insurance company in the region [8]. - As of now, four new branches have opened, accumulating over 1,700 qualified new hires [8].

Group 1: Financial Performance - AIA Group reported a post-tax operating profit of approximately $3.609 billion for the first half of the year, with a year-on-year increase of 12% in post-tax operating profit per share [2] - The new business value for the first half was $2.838 billion, reflecting a 14% year-on-year growth, with a new business value margin of approximately 57.7%, up by 3.4 percentage points [2] - In mainland China, AIA Life achieved a new business value of about $743 million, with a new business value margin of 58.6%, an increase of 2 percentage points year-on-year [2] Group 2: Market Outlook - The CEO and President of AIA Group, Lee Yuanxiang, indicated that 13 out of 18 markets experienced growth in the first half of the year [2] - Mark Konyn, Chief Investment Officer, expressed optimism about the Hong Kong stock market, suggesting further upside potential, with the Hang Seng Index up 25.15% year-to-date as of August 21 [5] - The Hong Kong GDP growth rate for Q2 2025 was reported at 3.1%, with increases in both goods and services exports [5] Group 3: Asset Management Development - AIA Asset Management, headquartered in Shanghai, is expected to commence operations by the end of the year, with progress on establishment proceeding smoothly [7] - The company will initially focus on the group's proprietary business and plans to expand capabilities over time, considering partnerships with mainland institutional investors [7] - AIA Group manages nearly $300 billion in assets, with a significant portion invested in fixed income, while ensuring limited exposure to interest rate risks [8]

Core Viewpoint - AIA Life Insurance Co., Ltd. plans to launch its asset management subsidiary by the end of this year, aiming to enhance its long-term development and align with China's financial regulatory framework [1]. Group 1: Company Developments - AIA's asset management subsidiary will adopt the same standards as the AIA Group, integrating related asset management and investment operations [1]. - The CEO of AIA Insurance expressed confidence in the long-term prospects of the Chinese market and emphasized the importance of sustainable and high-quality development [1]. Group 2: Financial Performance - In the first half of this year, AIA reported a post-tax operating profit of approximately $36.09 billion, with a year-on-year growth of 12% [1]. - The new business value reached a record high of $28.38 billion, reflecting a 14% year-on-year increase, with a new business value margin of approximately 57.7%, up by 3.4 percentage points [1]. Group 3: Mainland China Business - By the first half of 2025, AIA's new business value in mainland China is projected to be around $7.43 billion, with a new business value margin of 58.6%, an increase of 2 percentage points year-on-year [2]. - The annualized new premium is estimated at approximately $12.68 billion [2].

Group 1 - AIA Life Insurance Co., Ltd. plans to launch its asset management subsidiary by the end of this year [1] - The new asset management company will align with the standards of AIA Group, integrating related asset management and investment operations [1] - AIA's regional CEO expressed confidence in the long-term development and value of the Chinese market, emphasizing the importance of sustainable and high-quality growth [1] Group 2 - In the first half of this year, AIA reported a post-tax operating profit of approximately $3.609 billion, with a year-on-year growth of 12% [1] - The new business value reached a record high of $2.838 billion, reflecting a 14% year-on-year increase [1] - The new business value margin improved to approximately 57.7%, up by 3.4 percentage points year-on-year [1] Group 3 - In mainland China, AIA achieved a new business value of approximately $743 million in the first half of 2025 [2] - The new business value margin in this region was 58.6%, an increase of 2 percentage points year-on-year [2] - The annualized new premium in mainland China was approximately $1.268 billion [2]

Group 1 - The core viewpoint emphasizes the importance of patient capital and long-term investment strategies in supporting the high-quality development of capital markets as public fund reforms progress [1][2] - The investment strategy focuses on high-quality assets characterized by "high and stable ROE (Return on Equity) + high margin of safety," which are seen as essential for sustainable excess returns [1] - High and stable ROE indicates stronger profitability resilience and intrinsic growth potential during economic cycles, making these core assets vital for long-term compounding growth [1] Group 2 - Looking ahead to the second half of 2025, it is anticipated that domestic economic growth will gain momentum due to ongoing policy support, which should not be underestimated [2] - Enhanced economic growth and structural adjustments are expected to positively impact the marginal profitability growth of listed companies, leading to increased long-term capital allocation in A-shares [2] - The strategy of deeply exploring and firmly holding high-quality core assets with "high and stable ROE + high margin of safety" is viewed as a rational choice to navigate market volatility and a pathway for investors to share in the benefits of China's high-quality economic development [2]

Group 1 - The appointment of Yu Hong as the General Manager of AIA Life has been approved by the National Financial Regulatory Administration, marking a significant management change within the company [1] - Yu Hong has extensive experience, having worked for nearly 27 years at Ping An Life before joining AIA, and will be responsible for the company's strategic planning and daily operations [1] - AIA Life is in a rapid expansion phase, having opened three new branches in Shandong, Zhejiang, and Chongqing by May 2025, and its business now covers multiple provinces including Beijing, Guangdong, and Shanghai [1] Group 2 - AIA Insurance's Regional CEO and Chairman Zhang Xiaoyu expressed confidence in the long-term development of the Chinese market and highlighted the establishment of AIA Asset Management Company as a key milestone for the company's growth in China [2] - The company reported a 20% increase in new business value, a 10% growth in annualized new premiums, and an 18% rise in total weighted premium income for 2024 [2] - As of the fourth quarter of 2024, AIA Life's comprehensive solvency adequacy ratio stood at 424.34%, indicating strong financial health [2]

Core Viewpoint - AIA Life Insurance has received approval from the National Financial Regulatory Administration to establish AIA Asset Management Company, reflecting its long-term commitment to the Chinese market and the achievements of China's high-level financial openness [1][2]. Group 1: Company Development - The establishment of AIA Asset Management marks a significant milestone in AIA Life's ongoing development in China, aiming to enhance the efficiency of fund utilization and provide specialized investment management services for insurance assets [1]. - AIA Asset Management will create a product system that covers multiple industries and asset types, enabling AIA Life to match its assets and liabilities effectively and secure stable long-term returns [1]. Group 2: Strategic Vision - AIA's regional CEO, Zhang Xiaoyu, emphasized the company's positive outlook on the long-term development and value of the Chinese market, aiming for sustainable and high-quality growth through effective asset-liability matching [2]. - The company plans to continue its long-term investment philosophy, leveraging the characteristics of insurance capital as "patient capital" to support the real economy in China [2]. Group 3: Historical Context - AIA Insurance originated in Shanghai in 1919 and became one of the first foreign insurance institutions to receive a personal insurance business license after China's reform and opening up in 1992 [2]. - In 2020, AIA Life was approved as the first wholly foreign-owned life insurance company in mainland China, expanding investment options [2].