Core Insights - Cyprus's industrial production index reached 115.9 points in June 2025, reflecting a year-on-year increase of 0.8% [1] - Overall industrial production grew by 3% in the first half of the year, indicating stable expansion [1] Industry Performance - Manufacturing sector experienced a year-on-year growth of 4.0% [1] - Mining and quarrying increased by 9.6% [1] - Water supply and waste management grew by 6.4% [1] - Electricity supply saw a significant decline of 18.2% [1] Notable Sub-sectors - Non-metallic mineral products surged by 12.9% [1] - Rubber and plastic products rose by 10.5% [1] - Electrical and optical equipment increased by 8.7% [1] - Wood and cork products grew by 8.3% [1] - Textile, clothing, and leather products declined by 9.4% [1] - Paper products and printing also fell by 9.4% [1] Cumulative Performance (January to June) - Electrical and optical equipment production increased by 12.7% [1] - Water supply sector grew by 9.6% [1] - Non-metallic mineral products rose by 9.0% [1] - Mining and quarrying increased by 8.2% [1] - Wood and cork products grew by 7.8% [1] - Paper products and printing experienced a decline of 13.5% [1] - Textile, clothing, and leather products decreased by 4.0% [1] - Petroleum refining and chemical pharmaceuticals fell by 1.3% [1] - Electricity supply also saw a decline [1]

Core Viewpoint - Insurance companies are actively increasing their stakes in listed companies, with Li'an Life Insurance recently raising its holdings in Jiangnan Water to 5.03%, triggering a stake increase notification [1][2]. Group 1: Insurance Companies' Actions - Li'an Life Insurance has made 18 stake increases in the market this year, indicating a strong interest in equity investments [1]. - The recent stake increase by Li'an Life is based on its own asset allocation needs and the perceived value of Jiangnan Water, funded by its own capital [2]. - Longcheng Life Insurance also increased its stake in Jiangnan Water, reaching 6.38% by March 2024, and has indicated potential for further increases [3]. Group 2: Market Trends and Preferences - The insurance sector is expected to continue increasing investments in companies with high dividends, capital appreciation potential, and high return on equity (ROE) [1][3]. - The infrastructure sector is particularly appealing to insurance companies due to its stable operating performance, cash flow, low valuations, and high dividend characteristics [4]. Group 3: Company Performance and Strategy - Jiangnan Water reported a revenue of 1.533 billion yuan for 2024, a year-on-year increase of 12.39%, and a net profit of 402 million yuan, up 24.31% [2]. - Li'an Life Insurance is undergoing a strategic transformation, aiming to become a mainstream financial institution in Jiangsu Province by 2030, with specific revenue and profit targets set for 2025 [7]. - In the first quarter of this year, Li'an Life achieved insurance business revenue of 12.545 billion yuan, a slight decrease of 4.2%, but net profit increased by 54.9% [7].