NCI(601336) 国际金融报·2025-03-29 11:20Core Viewpoint - The company has successfully transformed and achieved impressive results in the past year, marking a significant milestone under the leadership of Yang Yucheng, who joined as CEO [1][3]. Investment Performance - By the end of 2024, the company's investment scale exceeded 1.6 trillion yuan, representing a year-on-year growth of 21%. The total investment return rate was 5.8%, and the comprehensive investment return rate was 8.5%, showing substantial year-on-year growth [3]. - The net profit attributable to shareholders reached 26.2 billion yuan, a remarkable increase of 201.1%, setting a historical record [3]. Stock Market Reaction - Following the release of the impressive financial results, the company's stock prices saw positive movement, with A-shares closing at 51.98 yuan (up 1.15%) and Hong Kong shares at 30 HKD (up 5.45%) [3]. Confidence in the Insurance Market - The company’s leadership expressed strong confidence in the ongoing positive trends in the Chinese economy and the life insurance sector, highlighting that life insurance products are crucial for boosting domestic consumption [5]. - The insurance industry is experiencing positive changes, with a consensus on transformation among companies regarding product innovation, sales channel reform, and risk management [6]. Risk Management Strategies - The company is addressing the embedded risk of interest rate spread loss by balancing traditional and floating income products, as well as new and existing business lines [6]. - A dynamic adjustment mechanism for preset interest rates has been established to meet the needs for wealth preservation amid declining interest rates [6]. Long-term Investment Strategy - The company is committed to a long-term investment strategy, focusing on diversifying investment types and enhancing research capabilities to identify quality investment opportunities [8]. - A private equity fund with a total scale of 50 billion yuan was established in collaboration with China Life, which has shown promising financial performance [9]. Sector Investments - In 2024, the company actively invested in sectors such as integrated circuits, hard technology, and healthcare, acquiring stakes in quality listed companies like Shanghai Pharmaceuticals and China National Pharmaceutical Group [10]. Shareholder Returns - The company plans to distribute a cash dividend of 1.99 yuan per share at the end of 2024, totaling 6.208 billion yuan, which represents over 30% of the net profit attributable to shareholders and a nearly 200% increase year-on-year [12]. Technological Advancements - The company is leveraging advancements in artificial intelligence, having integrated AI models to enhance customer service and operational efficiency [13].