New China Life Insurance Company (601336) Q2 2025 earnings summary

Executive summary

• Achieved strong growth in the first half of 2025, with net profit attributable to shareholders up 33.5% year-over-year to RMB14.8 billion and revenue up 26.0% to RMB70.04 billion.

• Gross written premiums rose 22.7% year-over-year to RMB121.26 billion, with new business value up 58.4%.

• Ranked among the Fortune Global 500 and received multiple industry awards for brand value and sustainability.

• Proactively enhanced quality and efficiency in serving national strategies, with significant investments in the real economy and priority sectors.

• Prioritized business structure optimization, cost reduction, efficiency growth, and team development to enhance competitiveness.

Financial highlights

• Net profit attributable to shareholders: RMB14.8 billion, up 33.5% year-over-year.

• Operating revenue increased 26.0% year-over-year to RMB70.04 billion.

• Gross written premiums (GWP) rose 22.7% year-over-year to RMB121.26 billion.

• Embedded value reached RMB279.39 billion, up 18.1% year-over-year.

• Dividend per share increased from RMB0.54 to RMB0.67, with a proposed interim cash dividend totaling approximately RMB2.09 billion.

Outlook and guidance

• Actively implementing the "New Ten Guidelines" and advancing strategic transformation for high-quality, high-energy development.

• Plans to strengthen core insurance business, accelerate product diversification, and enhance service ecosystem across health, retirement, and digital finance.

• Will continue to optimize asset allocation and improve long-term investment returns, focusing on high-quality, long-duration assets.

• Emphasis on digital transformation, professional salesforce development, and customer-centric reforms.

• Focused on strengthening top-level design, optimizing development layout, and upgrading management systems.