On August 28, China Life Insurance Company Limited held its 2025 interim results presentation, where Chairman Cai Xiliang outlined the company's first-half development progress. He emphasized that China Life rose to challenges while maintaining strategic focus and vigorously promoting transformational changes, demonstrating the effectiveness of three key initiatives:

First, strategic initiative. China Life has consistently and steadfastly advanced asset-liability integrated management, reinforcing strategies for long-term sustainable development and omni-channel collaborative growth. Under current market conditions, the strategic outcomes have been remarkable. The company's liability side features a balanced and diversified product portfolio, combined with flexible allocation on the asset side and accounts, positioning our asset-liability coordination at an industry-leading level. Large-scale, high-proportion renewal business provides robust support for the company's stable development. The substantial strategic depth formed through multi-channel collaborative development enables the company to navigate growth with greater ease and enhanced resilience.

Second, transformation initiative. Over recent years, China Life has focused on cost reduction and efficiency enhancement, product and business diversification, marketing system reform, healthcare and elderly care ecosystem development, continuously advancing deep-level transformational changes. In the first half of this year, the company's investment efficiency continued to show improvement trends, with floating return products accounting for over 40% of new business. The sales force's professionalization, career development, and comprehensive capabilities continued to strengthen, while the comprehensive health and elderly care ecosystem service system achieved expanded coverage and enhanced quality. The company is actively adapting to external environmental changes through transformational reforms and has achieved significant results.

Third, development initiative. In the first half of this year, the company's total premium growth reached 7.3%. Both new business and renewal business outperformed the broader market, with the company's market share increasing compared to the same period last year. The investment and research position has become more consolidated, creating favorable conditions for the company's development strategy in the second half of the year.