ZA ONLINE announced its first half results on August 20, delivering an impressive performance report. Let's examine which business segments drove this strong development.

— 01 — ZA ONLINE's Performance

For the six months ended June 30, ZA ONLINE achieved total premiums of RMB 16.66 billion, up 9%. Insurance service revenue reached RMB 15.04 billion. Underwriting profit was RMB 660 million, up 109%. Net profit attributable to shareholders reached RMB 670 million, up 1104%.

*All amounts in this article are in RMB unless otherwise specified.

Among these, self-operated channels generated total premiums of RMB 3.697 billion, up 16.9%, accounting for 22.2% of total premiums. The number of self-operated channel users reached 3.88 million.

— 02 — ZA ONLINE's Ecosystems

① Health Ecosystem In the first half, through its two core brands "Zunxiang e-Sheng" and "Zhongmin Bao," the company built a multi-layered product matrix for its health ecosystem, providing health protection for approximately 15.21 million insured users. Total premiums reached RMB 6.28 billion, up 38.3%.

Zunxiang e-Sheng, launched 10 years ago, has undergone 25 iterations and achieved premiums of RMB 4.25 billion in the first half, with an average user age of approximately 39 years.

In the first half, ZA ONLINE also launched Zhongmin Bao mid-to-high-end medical insurance based on the Zhongmin Bao foundation. The Zhongmin Bao series achieved premiums of RMB 1.03 billion in the first half, growing 638.8% year-over-year.

② Auto Ecosystem In the first half, the online penetration rate of auto insurance market sales channels continued to rise. ZA ONLINE seized this opportunity by leveraging its internet channel advantages while introducing products such as driver and passenger accident insurance and travel accident insurance around auto insurance users.

The auto ecosystem achieved total premiums of RMB 1.48 billion in the first half, up 34.2%. Simultaneously, capitalizing on the booming development of new energy vehicle insurance, the company has provided auto insurance products and services to owners of new energy vehicles from over 100 brands.

New energy vehicle insurance premiums grew 125.4% year-over-year in the first half, accounting for 18.6% of total auto insurance premiums, an increase of 7.6 percentage points year-over-year.

③ Digital Ecosystem Both innovative businesses and pet insurance achieved excellent results in the first half through deep cultivation. Digital lifestyle ecosystem total premiums were RMB 6.21 billion, with innovative business premiums reaching RMB 2.49 billion, accounting for 40.1% and growing 40% year-over-year.

Pet insurance achieved total premiums of RMB 560 million, up 51.3%, with leading market share. The company served over 1.11 million pet owners in the first half.

ZA ONLINE also seized opportunities in the low-altitude economy development, launching drone hull insurance and third-party liability insurance for different drone models and service modes, cumulatively serving over one million drone owners. Total premium growth exceeded 20% in the first half.

— 03 — ZA ONLINE's Technology

As China's first internet insurance company, ZA ONLINE adheres to the dual-engine drive of "insurance + technology," continuously deepening its cutting-edge technology deployment in innovative fields such as artificial intelligence, blockchain, cloud computing, and big data, reconstructing the insurance value chain from the ground up.

R&D investment in the first half reached RMB 398 million. Utilizing mainstream large models and proprietary data, the company's self-developed AI platform "Zhongyou Lingxi" became the core engine for business transformation in the first half.

Its knowledge engineering, voice services, AI Gateway, and other multi-module collaborative functions have covered the full-process requirements of insurance business. In the first half, nearly 110 robots were active on the Zhongyou Lingxi platform, with cumulative calls reaching 450 million times in the production environment, leading the industry.

In business applications, AI has been deeply integrated into the entire process of product design, marketing, underwriting, services, claims, and quality inspection. In marketing applications, AI significantly improved user reach and efficiency, achieving precise demand matching.

In public domain traffic acquisition, the company built a new digital live streaming model, leveraging AI tools to optimize live streaming and short video production processes, enhancing customer acquisition precision and marketing efficiency.

In private domain traffic operations and customer management, AI was used to build complete user behavior trajectory maps, leveraging AI's scenario-based long memory capabilities to integrate intelligence into full lifecycle management.

ZA ONLINE comprehensively promoted AI-assisted marketing methods, achieving 100% coverage of AI Copilot in health insurance payment scenarios. In high-value policy sales and customer repurchase aspects, AI customer service efficiency significantly exceeded manual customer service by over 40%.

— 04 — ZA ONLINE's Banking Business

ZA ONLINE's banking subsidiary, ZA Bank, became one of Hong Kong's first banks to receive digital banking licenses in 2019 and officially opened in 2020. It has now developed into one of the most feature-rich and product-comprehensive digital banks in the Hong Kong market.

ZA Bank creates a one-stop comprehensive financial service platform through fully digital mobile operations, currently being Hong Kong's only digital bank providing 24-hour services including deposits, loans, transfers, card consumption, foreign exchange, insurance, investments, and corporate banking.

ZA Bank achieved a historic turnaround to profitability in the first half, with net profit reaching HK$49 million.

Notably, ZA Bank is now one of the few licensed banks in Asia simultaneously providing fund, US stock, and cryptocurrency trading services to retail investors. In the first half, it became a banking partner for over 300 Web3 companies in Hong Kong and most local licensed virtual asset trading platforms, and became the first local digital bank to provide exclusive "reserve banking services" for stablecoin sandbox issuers.

— 05 — ZA ONLINE's Stock Performance

Strong performance also drove stock price gains. As of today's close, ZA ONLINE's current price is HK$20.06, up 79% from the beginning of the year and 110% from the year's low, with a total market capitalization of HK$33.8 billion.

Do you see potential in ZA ONLINE's development? Welcome to share your views in the comments section.