Financial Data and Key Metrics Changes - In Q1 2025, operating revenue exceeded RMB 280 million, with gross written premiums (GWP) and first-year premiums increasing 3831% sequentially, reaching RMB 1.4 billion and RMB 730 million respectively [4][15] - Total operating revenue remained at RMB 284 million, with a robust cash liquidity balance of approximately RMB 202 million as of the end of March [16][17] - Total operating expenses fell by 29% sequentially, reflecting effective cost control measures [9][18] Business Line Data and Key Metrics Changes - The average ticket size for long-term insurance products rose 58% to over RMB 5,400, indicating effective customer strategy [5] - The repeat purchase ratio for long-term insurance products stood at 38%, demonstrating strong customer retention [17] - The company added approximately 390,000 new customers during Q1 2025, bringing the total customer base to 11 million [5][17] Market Data and Key Metrics Changes - The Vietnamese operation, Global Care, grew total policy count by 29% year-over-year, with GWP and revenue increasing by 3534% [11] - The company is on track to achieve 3% of total revenue contribution from international markets by 2026, with strong growth momentum in Southeast Asia [12] Company Strategy and Development Direction - The company is committed to providing full life cycle insurance solutions and is expanding its product offerings in response to market demand [4][6] - The integration of AI across operations is a key focus, driving productivity improvements and optimizing cost structures [4][8] - The company aims to solidify its leadership in China's participating insurance segment through customized product offerings [7] Management's Comments on Operating Environment and Future Outlook - Management noted that Q1 2025 is likely the lowest point for the year, with expectations of improved sales momentum in Q2 [26] - The company anticipates a strong Q3, particularly in August, due to expected pricing rate cuts [27] - The overall insurance demand in China and Southeast Asia remains resilient, supported by digital adoption and AI-driven product innovation [12][20] Other Important Information - The company has strong partnerships with 43 insurance companies and continues to develop customized products [6] - The deployment of AI agents is transforming workflows, enhancing user experience, and improving operational efficiency [9][10] Q&A Session Summary Question: Selling expenses and sales momentum outlook - The decline in first-year premiums was attributed to a high base effect from Q1 2024, while selling expenses increased due to the lower gross margins from international business [23][25] - Management expects Q2 to show decent momentum, with a revival of growth in the domestic market [26][27] Question: Impact of regulatory changes on business - Regulatory changes are expected to level the playing field among distribution channels, potentially increasing the influx of productive agents to the company [31][32] - The company is on track for expansion into Singapore, with operational status expected by Q3 2025, while progress in the Philippines is ongoing [35][36]

中国商报（记者 马文博）近日，多地中小银行密集下调存款利率。5月7日，中国人民银行行长潘功胜宣布，降准0.5个百分点，并降低政策利率0.1个百分 点。业内人士认为，随着降准降息落地，后续存款利率将开启新一轮调降。 中小银行率先行动 近期，多地农商行、城商行、村镇银行以及民营银行调整了人民币存款挂牌利率水平。 比如，聊城沪农商村镇银行5月9日发布的公告显示，该行于5月10日起对人民币存款挂牌利率进行调整，下调后，该行存款产品利率进入"1字头"。调整前， 该行2年期、3年期、5年期存款利率分别执行2.1%、2.16%、2.16%；调整后，该行对应期限的利率分别执行1.89%、1.98%、1.98%。 | 存款项目 | | 年利率% | | --- | --- | --- | | | 调整前 | 调整后 | | 一、城乡居民及单位存款 | | | | (一) 活期存款 | 0.21 | 0.21 | | (二) 定期存款 | | | | 1、整存整取 | | | | 三个月 | 1.26 | 1.26 | | 未 年 | 1.50 | 1.50 | | ー 年 | 1.95 | 1.80 | | 二 年 | 2.1 ...