JPCLIFE@EC2607C

CCOE

STARCOIN GROUP

ONEFORCE HLDGS

ROYAL DELUXE

STELUX HOLDINGS

TE HEALTHCARE

ASIAPAC FIN INV

WELIFE TECH

DRINDA

TIMELESS

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Against the backdrop of the global financial industry accelerating its embrace of artificial intelligence, China Life, in collaboration with NetEase Intelligent Enterprise, has launched the AI Agent application aimed at enhancing after-sales service efficiency. The system achieves an accuracy rate of over 90% in responding to inquiries about policy expiration and policy cancellation, significantly reducing the response time for customers seeking information on policies and cancellations, and addressing the issues of slowness and inconsistency in traditional manual services

- A new trend in the global finance sector sees AI as an "Agent" participating directly in customer service and decision support, including insurance.  
- China Life Insurance has partnered with NetEase to deploy an AI Agent, achieving over 90% accuracy in responding to common queries about policies, significantly reducing response times.  
- With rising policy numbers and customer inquiries, the company aims to improve service efficiency while maintaining compliance with sensitive data regulations.

Wallstreetcn

China Life

CHINA LIFE

China's "Life Insurance Leader" makes a major breakthrough, playing with "AI Agent"

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Hong Kong virtual insurance company Bowtie Life has unveiled its new headquarters, "Bowtie Life Building," in Wan Chai, signing a 5-year lease for 7 floors. In the second half of last year, the voluntary health insurance policy subscriptions reached 10,000, doubling year-on-year, reflecting a change in the insurance habits of the public. The company emphasizes that a physical presence can enhance customer confidence, with individual customers accounting for over 50%. The financial performance is strong, with a customer retention rate exceeding 90%, and the unit economic benefits are considerable

Stheadline

Medtide Inc.

GF CSI HK Innovative Drugs Industry ETF(QDII)

Huatai-PB Hang Seng Innovative Drugs Industry ETF(QDII)

Bowtie's new headquarters has moved to Wan Chai, with over 10,000 voluntary health insurance policies taken out in the second half of last year

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HSBC's research report indicates that China Life is expected to have a net loss of at least 7.4 billion yuan in the fourth quarter of 2025, despite a 60.5% increase in net profit over nine months. The bank believes that China Life's earnings are highly volatile and may underperform the market. In contrast, Ping An's after-tax operating profit is more favored by investors, giving it a target price of 84 yuan and a rating of "Buy"; China Life has a target price of 29 yuan and a rating of "Hold"

AASTOCKS

Ping An

PING AN

E Fund CSI 300 Financials (ex Banks) ETF

ChinaAMC SSE Financials Sector ETF Initiating Fund

According to "The Big Banks," Huayan estimates that China Life had a loss of at least 7.4 billion RMB in the last quarter of last year, and is more optimistic about Ping An

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According to data released by the National Financial Regulatory Administration, as of the end of last year, the balance of funds utilized by insurance companies was approximately 38.5 trillion yuan, a year-on-year increase of 15.7%. Among them, the balance of stocks and securities investment funds for life insurance and property insurance companies was about 5.7 trillion yuan, an increase of approximately 1.6 trillion yuan compared to the end of 2024, with a growth rate of 38.9%. The balance of stock allocation was approximately 3.73 trillion yuan, accounting for 9.7%, reaching a new high in nearly four years

CSI 300

CPIC

Last year, the balance of insurance funds invested in stocks and funds increased by approximately 1.6 trillion yuan

Citi has initiated a positive coverage on China Life, expecting a 47% growth in net profit for the fiscal year 2025 and a 38% annual growth in new business value. Citi believes that China Life will outperform its peers and provide positive information during its earnings release, giving it a "Buy" rating with a target price of 40 yuan, due to its brand, distribution network, and reform measures

Citi initiates positive coverage on China Life with a target price of 40 yuan

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The Hang Seng Index fell for the second consecutive day, reaching H$26,550, its lowest since February 6, down from a year-to-date high of H$28,000. This decline mirrors global stock trends, with US equities also retreating. Key companies in the index, including Zijin Mining and China Life Insurance, saw significant drops. Despite this, technical analysis suggests a potential rebound if the index remains above the 100-day moving average. The upcoming US consumer inflation report is anticipated to influence market movements further.

Invezz

Hang Seng Index

ZIJIN MINING

Zijin Mining

Hang Seng Index dips to a key support as global stocks retreat

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In 2025, the net profit of non-listed life insurance companies surged to 66.6 billion yuan, but net assets shrank by nearly 10 billion yuan, indicating a structural divergence of "profit increase without capital increase." The median comprehensive investment return rate dropped from 8.39% to 2.73%. Several insurance companies, such as BOC Samsung Life and CEB Grand China Life, despite achieving record high net profits, saw a significant decline in net assets, reflecting the impact of new financial instrument standards and market conditions

- In 2025, non-listed life insurance companies reported a misleading profit surge, with total net profits soaring to 66.6 billion yuan, up 165% from 2024.  
- Despite this profit increase, the median comprehensive investment return plummeted to 2.73%, and industry net assets fell by nearly 10 billion yuan, indicating a structural divergence of "increased profits without increased assets."  
- The primary drivers of this phenomenon stem from market volatility and the shift to new accounting standards, which have led to extreme fluctuations in net profits compared to net assets.

CEB Bank

BOCIC

Bank Of China

ChinaAMC CSI Banks ETF

CHINA EB LTD

CEB BANK

BANK OF CHINA

PICC GROUP

GF Fund CSI HK Connect Financials(ex Banks) Thematic ETF

EB GRAND CHINA

Profit to the left, net assets to the right: Analyzing the "surface" and "substance" of the performance of unlisted life insurance companies

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ZIJIN GOLD INTL(02259) rose 9.06%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 56.7%. BILIBILI-W(09626) rose 5.16%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 31.1%. POP MART(09992) fell 5.49%, with a trading turnover 4.4 Billion HKD, and a year-to-date rose 35.9%. MINIMAX-WP(00100) fell 4.82%, with a trading turnover 681.6 Million HKD, and a year-to-date rose 210.9%.

- The Hang Seng Index increased by 0.31%, with a year-to-date gain of 6.4%, while the Hang Seng Tech Index rose by 0.9%, showing a year-to-date decline of 0.3%.  
- Zijin Mining International (02259) saw a rise of 9.06% with a trading volume of HKD 1.7 billion, resulting in a year-to-date increase of 56.7%.  
- Bilibili-W (09626) grew by 5.16%, with a trading volume of HKD 1.22 billion, reflecting a year-to-date increase of 31.1%, whereas Pop Mart (09992) fell by 5.49%, despite a year-to-date increase of 35.9%.

Top Gainers & Losers

ZIJIN GOLD INTL

BILIBILI-W

GANFENGLITHIUM

TECHTRONIC IND

TME-SW

POP MART

MINIMAX-WP

MONTAGE TECH

Top 5 HK Stock Gainers/Losers (>100B) (2.11)

HSCEI

STECH

Hong Kong stocks performed strongly today, with the Hang Seng Index closing up 467 points at 27,027 points. The National Index and the Hang Seng TECH Index also rose by 136 points and 71 points, respectively. Domestic insurance stocks generally increased, with China Life and Ping An both rising by about 4%. Commodity stocks performed well, with gold and silver-related stocks up by 4.5% to 5.6%. Technology stocks rebounded, with Tencent, Baidu, and others all seeing gains. The overall market turnover was HKD 255.142 billion

Hang Seng China Enterprises Index

Hang Seng TECH Index

BIDU-SW

Ping An Insurance

SD-GOLD

FI2 CSOP HSI

FI CSOP HSI

EFUND GOLD MI ETF

EFUND GOLD MI-U

"Hong Kong Stocks" The Hang Seng Index closed up 467 points, with domestic insurance, commodities, and AI stocks rising. Zhizhu surged 36%

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The three major A-share indices closed higher for the day, with an increase of about 1% to 3%. The Shanghai Composite Index rose 1.4% to 4,123 points, the Shenzhen Component Index rose 2.2% to 14,208 points, and the ChiNext Index rose 3% to 3,332 points. Domestic insurance and real estate stocks strengthened, with Ping An rising 2.7% and China Life rising 3.2%. Real estate stocks such as Beijing Investment Development hit the daily limit, Vanke A and Gemdale rose 3% to 5.7%. Chip stocks performed strongly, with SMIC A rising 2% and Cambricon rising 4.8%. The central parity rate of the RMB against the US dollar was adjusted up by 67 points, reported at 6.9523

Yinhua CSI Interior Real Estate Theme ETF

Hwabao WP CSI 800 Real Estate ETF

Cambricon

Vanke

SMIC

Gemdale

CHINA VANKE

ChinaAMC CSI All Share Real Estate ETF

China Southern CSI All Share Real Estate ETF

The three major A-share indices of Shanghai and Shenzhen closed near their highs for the day, rising between 1.4% and 3%. Domestic insurance and real estate stocks strengthened, while semiconductor, computing power, and commercial aerospace stocks surged

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The Hong Kong stock market opened higher in the morning session influenced by the rise in US stocks, with the Hang Seng Index opening up and once rising by 524 points, closing up 385 points at 26,945 points. Domestic insurance and financial stocks performed strongly, with China Life and Ping An rising by 4.5% and 4.1% respectively. Technology stocks generally rose, with Tencent and JD.com increasing by 1.1% and 1.4% respectively. The overall market turnover reached HKD 136.256 billion

TENCENT

"Hong Kong Stocks" Hang Seng Index rises 385 points in half a day, with insurance and financial stocks leading the gains; POP MART rebounds over 5%

The Hong Kong Stock Exchange's disclosure shows that on February 2, Ping An increased its holdings in China Life by 10.895 million H shares, bringing its latest shareholding ratio to 10.12%, triggering relevant stake disclosure rules in the Hong Kong stock market

Insurance capital giants once again increase their stakes in peers

Hong Kong stocks continued their upward trend on July 28, with the cryptocurrency, innovative drug, gaming, and insurance sectors performing well. Hong Kong's &#34;Stablecoin Ordinance&#34; will officially take effect on August 1, marking the countdown to stablecoin issuance; the innovative drug sector was boosted by Hengrui Pharmaceuticals securing a $12 billion order; insurance stocks extended their gains as industry anti-internal competition and interest rate cuts improved profit prospects; gaming stocks benefited from Macau's July gaming revenue exceeding expectations and Thailand's withdrawal of the casino bill.

HENGRUI PHARMA

Hengrui Pharma

INNOVENT BIO

3SBIO

CSPC PHARMA

OSL GROUP

SUNSHINE INS

SANDS CHINA LTD

Sands China

WYNN MACAU

CR HOLDINGS

SINO BIOPHARM

MELCO INT'L DEV

GUOTAI JUNAN I

AIA-R

AIA Group

SJM HOLDINGS

Hot Trades in Hong Kong Stocks (7.28)｜Cryptocurrency, Innovative Drugs, Insurance, and Gaming Sectors Shine, Hengrui Pharmaceuticals Soars 15% at Midday

On July 11, the three major stock indices in Hong Kong rose together. In terms of sectors, technology stocks rose collectively, and securities and brokerage stocks mostly increased.

ZA ONLINE

LAOPU GOLD

MIXUE GROUP

GUMING

WUXI APPTEC

WuXi AppTec

LIANLIAN

PICC P&C

MAO GEPING

BLOKS

Ping An Ins HK SDR2to1

CITIC SEC

CITIC Securities Co., Ltd.

EB SECURITIES

EBSCN

WUXI BIO

WuXi Biologics

CHICMAX

XIAOMI-W

Xiaomi HK SDR 2to1

Xiaomi Corporation

AKESO

BEONE MEDICINES

BeOne Medicines

Beigene

REMEGEN

RemeGen

LINKLOGIS-W

CICC

Circle

The Hang Seng Index is approaching its highest level in nearly 3 years, with Chinese brokerage, insurance, and stablecoin concept stocks remaining hot!

JPCLIFE@EC2607C(25691.HK)

China's "Life Insurance Leader" makes a major breakthrough, playing with "AI Agent"

Bowtie's new headquarters has moved to Wan Chai, with over 10,000 voluntary health insurance policies taken out in the second half of last year

According to "The Big Banks," Huayan estimates that China Life had a loss of at least 7.4 billion RMB in the last quarter of last year, and is more optimistic about Ping An

Last year, the balance of insurance funds invested in stocks and funds increased by approximately 1.6 trillion yuan

Citi initiates positive coverage on China Life with a target price of 40 yuan