Financial Performance - In the first half of 2025, the company achieved an operating profit of 77.732 billion RMB, a year-on-year increase of 3.7% [1] - The net profit attributable to shareholders reached 68.047 billion RMB [1] - The company announced an interim dividend of 0.95 RMB per share, reflecting a 2.2% year-on-year growth [1] Business Highlights - The new business value of life and health insurance reached 22.335 billion RMB, a significant increase of 39.8% year-on-year [1] - The new business value from the agency channel grew by 17.0%, with per capita new business value increasing by 21.6% [1] - The bancassurance channel focused on value growth, achieving a new business value of 5.972 billion RMB, up 168.6% year-on-year [1] Customer Engagement and Services - The company served over 13 million customers in health management during the first half of 2025 [2] - Home-based elderly care services covered 85 cities, with nearly 210,000 customers qualifying for such services [2] - The company added 15.71 million new customers, marking a 12.9% year-on-year increase, with a customer retention rate of 94.6% [2] Investment Portfolio - As of June 30, 2025, the company's insurance fund investment portfolio exceeded 6.20 trillion RMB, reflecting an 8.2% growth since the beginning of the year [3]

Core Insights - China Ping An reported a net profit attributable to shareholders of 68.047 billion yuan, a year-on-year decline of 8.8% [1] - The company achieved an operating profit of 77.732 billion yuan, representing a year-on-year growth of 3.7% [1] - A mid-term dividend of 0.95 yuan per share was declared, marking a 2.2% increase from the previous year [1] Customer Data - In the first half of 2025, Ping An added 15.71 million new customers, a year-on-year increase of 12.9% [1] - The retention rate for customers with a tenure of 5 years or more reached 73.8%, up by 1.6 percentage points from the beginning of the year [1] - The retention rate for customers holding four or more contracts within the group was 97.8%, with a 1.0 percentage point increase [1] Business Segments - In the life and health insurance sector, new business value reached 22.335 billion yuan, a significant increase of 39.8% year-on-year [1] - The 13-month policy continuation rate was 96.9%, up by 0.3 percentage points, while the 25-month continuation rate was 95.0%, up by 4.1 percentage points [1] Multi-Channel Development - The agent channel's new business value grew by 17.0%, with per capita new business value increasing by 21.6% [2] - The bancassurance channel focused on value growth, achieving a new business value of 5.972 billion yuan, a remarkable increase of 168.6% [2] - Community financial services saw a 0.4 percentage point improvement in the continuation rate of fully paid customers [2] Product Focus - Ping An's products are primarily centered on retirement savings, wealth management, and insurance protection [2] - The company has served over 13 million customers in health management as of the first half of 2025 [2] - Home care services have been extended to 85 cities, with nearly 210,000 customers qualifying for such services [2] Property Insurance - In the property insurance sector, Ping An achieved a premium income of 171.857 billion yuan, reflecting a year-on-year growth of 7.1% [2] - Insurance service income reached 165.661 billion yuan, up by 2.3% year-on-year, with an overall combined cost ratio of 95.2%, improving by 2.6 percentage points [2] Asset Management - The asset management business showed strong performance, with an operating profit of 2.723 billion yuan, a year-on-year increase of 110.1% [3] - As of June 30, 2025, the insurance fund investment portfolio exceeded 6.20 trillion yuan, growing by 8.2% since the beginning of the year [3] - The portfolio achieved a non-annualized comprehensive investment return rate of 3.1%, up by 0.3 percentage points year-on-year [3]

作为英超托特纳姆热刺俱乐部的全球主要合作伙伴，友邦保险与热刺长期携手推广足球运动，传递积极健康的生活方式。为让本届训练营更具专业性与国际 视野，友邦北京特别邀请托特纳姆热刺国际拓展教练团队 —— 持有大洋洲足协 C 级教练资质及新西兰青少年足球一级培训资格的莉莉 - 杰维斯，与曾征战 美国职业足球大联盟及英超联赛的英足总官方认证教练泰勒 - 布莱克伍德亲临现场指导；同时，还联合中国足协认证教练及北京本地专业青训机构教练组成 强大师资团，为足球小将们量身打造了一套融合国际化理念与本土化需求的训练课程。兼具专业性与趣味性的训练，不仅让孩子们扎实掌握运球、射门等核 心技巧，更在团队对抗中磨砺直面挑战的韧性，培养团结协作精神，让足球梦想在绿茵场生根发芽。 8月24日，2025友邦保险青少年足球训练营·北京站活动顺利落下帷幕。友邦人寿保险有限公司北京分公司（简称 "友邦北京"）特邀的京城足球小将驰骋绿茵 场，在专业训练与趣味互动中释放活力，为暑期镌刻下热血记忆。此次活动也是友邦北京践行品牌倡议 "健康新'享'法"，深化 "健康长久好生活" 理念的重 要实践。 活动现场，小球员们依据年龄段科学分组，确保每个孩子都能获得适 ...

Core Viewpoint - Chow Tai Fook Life Insurance is committed to creating new value in insurance through the "Diligence, Integrity, and Righteousness" spirit, emphasizing professional service and responsibility in wealth inheritance [2][4]. Group 1: Company Philosophy and Values - The company emphasizes the importance of "Diligence" as professionalism and attention to detail, "Integrity" as trust built over time, and "Righteousness" as a sense of responsibility [2][4]. - Chow Tai Fook Life Insurance aims to extend its century-old reputation in jewelry to the insurance industry, providing solid protection for clients [2][4]. Group 2: Risk Management and Operational Excellence - The company employs an asset-liability management system that is "stricter than regulation" to create a robust risk protection framework, ensuring long-term commitments to clients [4]. - The team adheres to the "GROW values" as guiding principles, focusing on using professionalism to navigate clients' wealth and safeguarding generational inheritance with integrity [4]. Group 3: Knowledge Sharing and Professional Development - The company boasts a strong team of life planners, which is considered its most valuable asset, and aims to enhance knowledge integration and insights through high-level exchange platforms like the "Wealth Inheritance Cultural Forum" [5]. - The forum serves as a platform for exploring the profound value of "Diligence, Integrity, and Righteousness" in contemporary times, fostering deep dialogues on responsibility, trust, and long-term commitments [5][8].

此次公益健步走活动，是一次红色教育之旅，通过特殊条件下的活动，上海人寿广大党员员工在活 动中既锻炼了体魄，倡导了健康生活理念，更是用7.1公里的坚实步伐，又一次重温了共产党人一路走 来的信念与坚持，感受到改革开放伟大成就的不易，进一步了增强了永远跟党走、奋进新征程的决心和 推动公司高质量发展的信心。在全面发挥保险保障功能，向全社会传播保险行业正能量的大道上，上海 人寿人必将心往一处想，劲往一处使，拧成一股绳，将信念刻心间，践"行"在脚下。 【纠错】 【责任编辑:任想】 为迎接党的二十大胜利召开，在"七一"建党节与全行业"7.8全国保险公众宣传日"来临之际，上海 人寿保险股份有限公司（简称"上海人寿"）组织30余名党员和员工在上海浦东滨江开展了7.1公里的公 益健步走活动，热烈庆祝中国共产党成立101周年，用青春的汗水和向上的精神表达对党的生日祝福。 浦江两岸，风景如画，高楼林立，绿树成荫。黄浦江一路向东奔赴大海，江上货轮川流不息。参加 7.1公里公益健步走活动的上海人寿党员员工，高举党旗，昂首阔步，感受上海发展新貌，展现新时代 保险人积极向上的风采。这次活动起点从浦东新区陆家嘴滨江公园开始，队伍在刻有伟大的改 ...

7月22日，中国人寿集团在京召开学习贯彻金融系统党的建设工作会议精神暨2025年上半年经营管 理工作会议。 中国人寿集团党委书记、董事长蔡希良代表集团党委作《深入学习贯彻金融系统党的建设工作会议 精神 以高质量党建促进高质量发展》讲话，推动将习近平总书记"五个进一步到位"重要要求贯穿到中 国人寿落实金融系统党的建设工作会议精神的全过程、各方面。 会议对全面完成中国人寿2025年经营管理目标任务作出部署，推动在更加注重效益优先、更加注重 长期理念、更加注重资负联动、更加注重防范化解风险的基础上，锚定年度经营管理工作目标任务。会 议强调，中国人寿全系统要锚定"333战略"持续用力，以作风建设新成效开创高质量发展新局面。 责任编辑：杨喜亭 截至6月底，中国人寿累计新增保险保障金额超450万亿元，赔付支出2372亿元，同比增长14.7%， 保险资金服务实体经济存量投资规模超5万亿元，公开市场权益投资净买入超900亿元，服务大局积极有 为，经济减震器与社会稳定器功能更好发挥；集团合并营业收入同比增长8.4%，合并总资产突破8万亿 元（不含广发银行总资产3.69万亿元），管理总资产超15万亿元，业务发展高位突破，综合实力 ...

Group 1 - Southbound funds net sold HKD 1.32 billion in Hong Kong stocks on July 23, with net purchases in China Life (HKD 665 million), SMIC (HKD 486 million), China Energy Construction (HKD 256 million), Alibaba (HKD 202 million), Pop Mart (HKD 173 million), and Dongfang Electric (HKD 170 million) [1] - Tencent Holdings saw a net sell of HKD 1.129 billion, Meituan-W HKD 1.021 billion, and Xiaomi Group-W HKD 983 million. Southbound funds have net bought SMIC for five consecutive days, totaling HKD 1.66206 billion, and China Life for two consecutive days, totaling HKD 1.54391 billion [2] Group 2 - China Life Group held a management meeting, reporting an increase in insurance coverage exceeding CNY 450 trillion, with claims of CNY 237.2 billion, a year-on-year growth of 14.7%. The group's total revenue grew by 8.4% year-on-year, and total assets surpassed CNY 8 trillion [4] - SMIC is expected to benefit from increased demand in the BCD Analog sector and improved wafer foundry capacity utilization in Q2 and the second half of the year, with a significant opportunity for domestic AI chip production [4] - China Energy Construction's new hydropower project on the Yarlung Tsangpo River has commenced, with an estimated investment of CNY 1.2 trillion, of which 60-70% will be allocated to project construction. The firm predicts a 20% growth in water conservancy investment by 2025, reflecting the government's strategic focus on water projects [5] Group 3 - Alibaba's Tongyi Qianwen has released a new code model, Qwen3-Coder, which surpasses global competitors in capability [6] - Tencent's target price was raised from HKD 634 to HKD 645, with expected revenue and gross profit growth of 12% and 17% year-on-year, respectively, for Q2 2025. Online gaming revenue is projected to grow by 18%, and online advertising revenue by 19%, indicating strong profitability improvements [6]

Group 1 - The core viewpoint of the article emphasizes the role of financial support in boosting and expanding consumption, as outlined in the recent guidelines [1] - Financial institutions are encouraged to support enterprises in technological innovation and industrial upgrades to enhance product quality and meet consumer demands for high-quality and personalized products [1] - There is a focus on optimizing the efficiency of capital flow in supply chains to reduce operational costs for businesses, thereby improving market competitiveness and creating a virtuous cycle of "supply upgrade - consumption quality improvement" [1] Group 2 - The demand side of the market is characterized by diversified and scenario-based financial service needs, particularly in emerging consumption areas such as new energy vehicles, smart home products, and green appliances [1] - Financial institutions are urged to innovate and develop a combination of products like installment loans, consumption subsidies, and insurance guarantees to cater to these new consumption fields [1] - In rural areas, there is a push to promote convenient payment tools and inclusive consumption credit to activate the potential of lower-tier markets [1] Group 3 - Recent years have seen financial institutions in China actively responding to policies aimed at boosting consumption, resulting in a series of innovative measures that have shown initial success [1] - The consumption market is exhibiting robust growth, demonstrating strong resilience and vitality [1] - An example from Zhejiang Chun'an County illustrates how local rural commercial banks have implemented a "ten special actions for financial support to boost consumption," including a 300 million yuan special credit allocation and 30 million yuan in interest discounts to effectively stimulate local consumption [2]

Core Viewpoint - Consumption is identified as a key driver for economic growth in the current domestic economic landscape, with the government prioritizing measures to boost consumption and enhance investment efficiency [1][3]. Financial Policies and Measures - The government has outlined a clear action plan to stimulate consumption through various measures, including increasing residents' income, improving consumption quality, and optimizing the consumption environment [1]. - Financial policies are highlighted as a crucial tool for promoting consumption, with new structural monetary policy tools being implemented to support the consumption market [1][3]. Role of Credit Policies - Credit policies are recognized as the primary means of boosting consumption, with a significant reduction in consumer loan interest rates from the "3" range to the "2" range due to competitive lending practices [3][4]. - The regulatory halt on "rolling" interest rates reflects concerns over excessive consumer borrowing and the need for sustainable financial practices [3][4]. Customized Financial Products - Financial institutions are encouraged to design personalized financial products and services based on individual credit status and consumption needs, including flexible repayment plans and specialized loans for various sectors such as travel, education, and home renovation [5][7]. - The importance of enhancing the consumer experience through optimized approval processes and diversified repayment options is emphasized [5][7]. Risk Management and Control - The rising trend of non-performing loans in consumer credit necessitates a focus on risk management, with financial institutions urged to strengthen their risk control capabilities [6]. - The balance between expanding loan offerings and maintaining risk control is critical, with recommendations for utilizing big data and AI for effective risk assessment [6][10]. Addressing Market Challenges - Key challenges in financial support for consumption include mismatches between financial products and consumer needs, insufficient diversification of service models, and inadequate risk management mechanisms [10]. - Solutions proposed include better identification of consumer needs, optimizing financial product design, and enhancing collaboration between financial services and emerging consumption scenarios [10][11]. Future Innovations in Financial Support - Future innovations in financial support for consumption may focus on macro policy coordination, innovative financial products, and expanding the scope of consumption scenario financing [11][12]. - The establishment of a diversified funding supply system through capital market engagement and the promotion of asset securitization in consumer finance are suggested as potential breakthroughs [11][12].