Core Viewpoint - China Life Insurance is actively implementing the "Two Mountains" concept by expanding its green finance product offerings and enhancing the quality of green financial services to support the construction of a beautiful China [1][2][3] Group 1: Green Finance Initiatives - China Life's subsidiary, Guangfa Bank, has provided a syndicated loan credit line of 200 million yuan for bamboo industry transformation and carbon sink capacity enhancement projects in Anji County, Zhejiang [1] - As of June 2025, Guangfa Bank's green credit balance exceeded 210 billion yuan, supporting over 50 carbon reduction projects nationwide [1] - China Life Property Insurance has innovatively launched marine carbon sink index insurance in Weihai, addressing risks from specific marine environmental changes [1][2] Group 2: Insurance Product Innovations - China Life Property Insurance is focusing on various ecosystems, including grasslands and wetlands, and has achieved full coverage of carbon sink insurance across forests, grasslands, and oceans [2] - The company has introduced multiple pilot projects, such as wetland biodiversity protection insurance and forestry biological asset note insurance, enhancing the green insurance product supply [2] - By mid-2025, China Life Property Insurance's green insurance provided risk coverage of approximately 86.4 trillion yuan [2] Group 3: Support for Sustainable Development - China Life is supporting the transformation of waste incineration plants into energy ecological parks through equity investment plans [2] - The company has increased its investment in clean energy, contributing 5 billion yuan to Yunnan Energy Investment Group to boost clean energy investments [2] - As of June 2025, the green insurance premium of China Life's life insurance segment has increased by 160% year-on-year [3] Group 4: Promoting Green Lifestyle - China Life has introduced diverse initiatives to promote green lifestyles, such as linking car insurance pricing to low-carbon repair commitments in Qinghai [3] - Guangfa Bank has launched a comprehensive automotive financial service plan, with auto consumption loans growing over 26% in the first half of 2025 [3] - The company is committed to implementing the "333 strategy" to provide comprehensive financial support for ecological protection and sustainable development [3]

Core Insights - The company has focused on high-quality development in technology insurance, green insurance, and inclusive insurance, achieving an insurance service revenue of 15.78 billion yuan, a year-on-year increase of 4.3% [1] - The comprehensive cost ratio has improved by 1.5 percentage points under new standards, indicating a solid high-quality development trend [1] Group 1: Mechanism and Strategy - The company has optimized its organizational structure by establishing a technology insurance department and setting up dedicated positions in 27 branches to promote technology insurance [2] - There is a focus on monitoring and performance assessment of technology and inclusive insurance development, with regular tracking and analysis of the "Five Major Financial Articles" [2] Group 2: Technology Insurance - The company is advancing innovation in technology insurance across six sectors, including cybersecurity and robotics, and has provided risk coverage of 2.2 trillion yuan as of July [3] - A project team has been formed to enhance product service innovation in areas like assisted driving and low-altitude economy [3] Group 3: Green Insurance - The company supports the "dual carbon" goals by providing high-quality insurance services for the new energy vehicle industry, with original premium income growing by 27.3% and risk coverage of 1.5 trillion yuan as of July [4] - Green insurance has expanded to cover clean energy projects and agricultural insurance, with original premium income increasing by 19.5% and risk coverage of 2.4 trillion yuan [4] Group 4: Inclusive Insurance - The company has implemented comprehensive services for public welfare, covering nearly 50 million people with major illness insurance and providing risk coverage of 32 trillion yuan [5] - The agricultural insurance sector has seen a year-on-year premium increase of 27.9%, with risk coverage of 20.5 billion yuan for major crops [5] - New products for small and micro enterprises have been launched, resulting in a 10.5% increase in insurance premiums [5]