来源：市场资讯 （来源：投资界） 上市梦。 近日，轻松健康集团IPO获证监会备案，为赴港上市铺平道路。 这家公司乍听陌生，旗下此前业务可能更为人熟悉——轻松筹。"家人突然罹患重病，无法承担高额费 用，请好心人帮帮我们……"过去十多年，这样的求助信息频繁刷屏朋友圈，成为无数家庭在绝境中寻 求希望的出口。 总部位于北京，公司创始人杨胤曾任职于IDG Inc。2014年她看好移动互联网浪潮的机会，转身入局创 业。直至去年，轻松健康集团选择剥离轻松筹等业务，如今杨胤带着公司终于走到了IPO门前。 从轻松筹到轻松健康 她带队IPO了 杨胤，早年毕业于北京信息工程学院。招股书显示，她曾就职于IBM中国分部，后于2002年加入IDG Inc.(该公司其后于2017年被IDG Capital Partners收购)，最后出任职位为副总裁。 轻松健康创始人、董事长、执行董事兼首席执行官 杨胤 转折出现在2014年，众筹成为互联网创业风口，她以天使投资人的身份投资了轻松筹。那时她的想法很 简单，通过科技和互联网的力量，汇聚小钱成就梦想。很快，杨胤辞去了IDG职位，以CEO身份加入轻 松筹，正式踏上创业之路。 基于微信和移动端的模 ...

Core Insights - The insurance industry plays a crucial role in economic development and improving social welfare, with total assets exceeding 40 trillion yuan and cumulative payouts reaching 9 trillion yuan, marking a 61.7% increase compared to the "13th Five-Year Plan" period [1] - During the "14th Five-Year Plan" period, the insurance sector has focused on high-quality development, enhancing its comprehensive strength and achieving new breakthroughs in serving the real economy and social welfare [1][3] Group 1: Economic Impact - The insurance industry has provided risk protection across various sectors, contributing to national strategies and addressing weak links in the economy [1] - Cumulative risk protection provided by the insurance industry during the "14th Five-Year Plan" period has exceeded 10 trillion yuan, supporting over 3,600 innovation application projects [2] Group 2: Technological Innovation - China Life Insurance has developed over 200 technology insurance products, providing risk protection exceeding 4 trillion yuan since the establishment of the integrated circuit co-insurance system [2] - The insurance sector has supported significant projects such as the Long March 8 remote sensing satellite and the domestically produced C919 large passenger aircraft, with over 300 billion yuan in coverage [2] Group 3: Social Welfare - The insurance industry has expanded its capacity to improve and guarantee social welfare, with major projects covering over 12.2 billion urban and rural residents for critical illness insurance and 1.8 billion people for long-term care insurance [3] - Commercial health insurance has provided economic compensation of 1.8 trillion yuan to those affected by illnesses over the past five years [3] Group 4: Disaster Risk Management - The insurance industry has established a national disaster risk map and a digital risk warning network, with cumulative payouts exceeding 150 billion yuan for disasters such as floods and earthquakes during the "14th Five-Year Plan" period [4] - From 2024, catastrophe insurance will cover common natural disasters in China, with a minimum coverage amount doubled, providing 22.36 trillion yuan in catastrophe risk protection for 64.39 million households [4] Group 5: Comprehensive Insurance Services - The insurance sector has formed a comprehensive insurance service system focusing on risks related to aging, illness, disasters, and poverty, optimizing the allocation of risk resources across society [5]

Group 1 - The core viewpoint of the news is that Fosun United Health Insurance has successfully completed a significant capital increase, enhancing its financial strength and shareholder structure through the introduction of strategic investors [1][2] - The total capital increase amounts to 810 million RMB, raising the registered capital from 694.44 million RMB to 1.01085 billion RMB [1] - This capital injection marks a milestone for the company, following its first capital infusion in May 2024, and signifies a comprehensive upgrade in capital strength, shareholder structure, and solvency [1] Group 2 - The introduction of international financial institutions such as IFC and ADB, along with Shanghai Fosun Pharmaceutical, reflects strong recognition of the long-term value of Fosun United Health Insurance in the international capital market [2] - IFC, as a core member of the World Bank Group, brings extensive experience in global finance and market operations, while ADB offers substantial project experience in health and social security [2] - The continued investment from Fosun Pharmaceutical highlights the importance of Fosun United Health Insurance within the Fosun Group, leveraging its extensive resources in the healthcare industry to enhance service professionalism and precision [2] Group 3 - Following the capital increase, the company plans to enhance customer experience by investing more resources in both product and service dimensions [3] - The company aims to expand its coverage and optimize product offerings, focusing on critical illness, chronic disease management, and long-term care to meet diverse health insurance needs [3] - By utilizing the technical expertise of international shareholders and the medical resources of Fosun Pharmaceutical, the company intends to upgrade its service experience, providing comprehensive health support from prevention to rehabilitation [3] Group 4 - The strategic capital increase not only represents a significant development for Fosun United Health Insurance but also offers a replicable cooperation model for the health insurance industry [4] - By integrating international capital and industry resources, the company will drive exploration in international cooperation and the integration of property and casualty insurance, injecting new vitality into industry innovation [4] - The company aims to actively respond to the "Healthy China 2030" strategy, contributing to the promotion of inclusive health insurance and enhancing health security coverage for the public [4]

Core Viewpoint - China Life Insurance aims to become a global leader in the life insurance industry by enhancing its core capabilities and maintaining a strong focus on innovation and customer service [1][3][5]. Financial Performance - In 2024, China Life's total premium reached 671.46 billion yuan, with first-year premiums hitting a record high of 119.08 billion yuan [1]. - The company's embedded value exceeded 1.4 trillion yuan, and the new business value for the year was 33.71 billion yuan, leading the industry [1]. - Total investment income amounted to 308.25 billion yuan, reflecting a significant year-on-year increase of 150%, with net profit attributable to shareholders rising by 108.9% to 106.93 billion yuan [1]. Strategic Goals - The company plans to strengthen five key capabilities: risk protection, asset-liability linkage, value creation, risk control, and global asset allocation [3][4]. - China Life aims to enhance its service offerings and product diversity, focusing on customer needs across different life stages [5][6]. Product Development - As of the end of 2024, the personal pension business reached nearly 3 billion yuan, with over 270,000 policies serviced, making it the industry leader [5]. - The company has launched over 500 health insurance products since 1999, with 220 currently available, and aims to expand its health insurance offerings further [6]. Investment Strategy - China Life's investment strategy emphasizes long-termism, focusing on stable asset-liability matching and value investing [7]. - The company has a total investment scale exceeding 4.8 trillion yuan, with a total investment return rate of 5.50% [6]. Shareholder Returns - In 2024, China Life implemented its first interim dividend, with total dividends reaching 18.37 billion yuan, a 51% increase from 2023 [10][11]. - The company plans to maintain a high dividend payout while balancing shareholder interests and sustainable development [11].

Core Insights - China Life Insurance is focusing on enhancing its pension and health insurance products to meet the diverse needs of customers at different life stages [1][2] - The company aims to expand its personal pension business, targeting a cumulative scale of nearly 3 billion yuan by the end of 2024, with over 270,000 policies in force [1] - In health insurance, China Life has launched over 500 products since 1999, with more than 220 currently available, and plans to increase the insurance amount for commercial health insurance by over 80 trillion yuan in 2024 [1][2] Group 1: Pension Business - The company plans to diversify its product offerings, including personal pensions, to better cater to the retirement needs of its clients [1] - By the end of 2024, the personal pension business is expected to reach a scale of nearly 3 billion yuan, with over 270,000 policies [1] - In 2024, the business scale is projected to be 2 billion yuan, with more than 150,000 policies, maintaining the industry leadership [1] Group 2: Health Insurance - China Life emphasizes the importance of health insurance and will continue to upgrade its health insurance offerings, focusing on various forms such as medical, nursing, disability, and disease insurance [2] - The company aims to serve a broader population, particularly targeting the elderly and those with chronic diseases, by incorporating high-quality medical technologies and equipment into its coverage [2] - The strategy includes transitioning from single risk coverage to a comprehensive health protection plan that encompasses prevention, treatment, and rehabilitation [2]

Group 1 - The core viewpoint is that China Life Insurance will continuously upgrade product design to meet the retirement protection needs of different age groups [1][2] - The company has launched over 500 health insurance products, with more than 220 currently available, providing insurance coverage for hundreds of millions of people in China [1] - In 2024, the total insurance amount for commercial health insurance increased by over 80 trillion yuan [1] Group 2 - Health insurance remains a key focus for China Life, with ongoing research into upgrading health insurance coverage responsibilities [2] - The company aims to serve a broader population, particularly targeting the elderly and those with chronic diseases, while incorporating high-quality medical technologies and pharmaceuticals into coverage [2] - There is a commitment to enhance health management services from prevention to rehabilitation, improving overall health protection levels for the public [2]