PICC GROUP (01339) announced its interim results for 2025, reporting total operating revenue of 324.122 billion yuan, representing a year-on-year increase of 10.87%. Net profit attributable to parent reached 26.671 billion yuan, up 13.98% year-on-year. Basic earnings per share stood at 0.6 yuan, with an interim cash dividend of 0.75 yuan per 10 shares.

The group's business development continued to show positive momentum. In the first half of 2025, insurance service revenue reached 280.25 billion yuan, rising 7.1% year-on-year, while original insurance premium income totaled 454.625 billion yuan, up 6.4% year-on-year.

Investment assets scale grew steadily, with the group's investment assets exceeding 1.7 trillion yuan as of June 30, 2025, representing a 7.2% increase from the beginning of the year.

In the property insurance segment, PICC P&C effectively strengthened its development advantages, maintaining its leading industry position with a 33.5% market share in property insurance. Net cash inflow from operating activities increased 26.6% year-on-year, significantly improving liquidity levels. The comprehensive cost ratio reached 94.8%, declining 1.4 percentage points year-on-year.

The life insurance business showed continuous improvement in operational quality and efficiency. PICC Life's new business value for the half-year increased 71.7% year-on-year on a comparable basis. Regular premium accounted for 79.5% of original insurance premium income, up 0.9 percentage points year-on-year. The 13-month premium persistency rate reached 96.4%, improving 0.4 percentage points year-on-year.

PICC Health's new business value for the half-year grew 51.0% year-on-year on a comparable basis. First-year regular premium increased 52.3% year-on-year, while internet long-term insurance first-year regular premium surged 110.6% year-on-year.

In investment operations, the group actively seized capital market investment opportunities, optimized equity structure, and extended asset duration, achieving total investment returns of 40.758 billion yuan, up 40.2% year-on-year. The annualized total investment return rate reached 5.0%, improving 0.9 percentage points year-on-year.

As of June 30, 2025, the group's total assets reached 1,878.102 billion yuan, up 6.3% from the end of the previous year. Net assets totaled 390.638 billion yuan, also up 6.3% from year-end. The comprehensive solvency adequacy ratio stood at 276%, with the core solvency adequacy ratio at 219%, demonstrating sufficient capital strength.