China Pacific Insurance Company (601601) H1 2026 earnings summary

Executive summary

• Achieved total operating revenue of RMB 212.14 billion in H1 2026, up 5.8% year-over-year; net profit attributable to shareholders reached RMB 30.78 billion, up 10.4% year-over-year.

• Embedded value grew 3.8% to RMB 636.94 billion; effective business value up 4.2% to RMB 250.77 billion.

• Life insurance new business value rose 12.7% year-over-year to RMB 10.76 billion; property insurance combined cost ratio improved by 1.3 percentage points to 95.0%.

• Group solvency ratios remain robust, with comprehensive solvency at 255%.

Financial highlights

• Operating profit attributable to shareholders: RMB 21.15 billion, up 6.2% year-over-year.

• Basic EPS: RMB 3.20, up 10.4% year-over-year.

• Net assets attributable to shareholders: RMB 319.20 billion, up 5.6% from year-end 2025.

• Total assets: RMB 3.28 trillion, up 4.3% from year-end 2025.

• Group investment assets: RMB 3.17 trillion, up 4.4% from year-end 2025; third-party assets under management: RMB 907.82 billion, up 6.3%.

• Interim cash dividend: RMB 0.42 per share (tax included), totaling RMB 4.04 billion.

Outlook and guidance

• Will continue to focus on high-quality growth, deepen reform, and accelerate the transition to new growth drivers.

• Strategic focus on health, pension, technology, and internationalization; aims to further enhance asset-liability management and risk control.

• Expects to leverage opportunities from national strategies in technology innovation, green finance, and social security expansion.