On August 26, China Taiping (HK00966) convened its 2026 interim results conference in Hong Kong, with Group Vice Chairman and General Manager Li Kedong delivering the keynote address. Senior executives including Deputy General Managers Yang Minggang and Bai Kai, Board Secretary Zhang Ruohan, Taiping Life General Manager Wang Xuze, Taiping P&C General Manager (designate) Peng Yunping, and Taiping Asset Management Deputy General Manager (presiding) Li Guanying were all in attendance.
During the first half of 2026, China Taiping adhered to its core operational theme of "risk prevention, management reinforcement, growth promotion, and safety assurance," focusing on consolidating its foundations, honing internal capabilities, and enhancing overall efficiency. This approach drove steady business expansion, improved operational quality, and delivered tangible results in its value transformation. The Group reported net profit attributable to shareholders of HK$12.873 billion, a robust year-on-year surge of 90.3%. Equity attributable to ordinary shareholders reached HK$103.638 billion, an 8.9% increase from the end of last year, while total assets surpassed HK$2.1 trillion, up 9.1% from the end of 2025.
The underwriting segment performed admirably. Insurance service revenue climbed 5.3% year-on-year to HK$58.926 billion, and insurance service results grew 4.5% to HK$12.876 billion. The contractual service margin for life insurance stood at HK$230.71 billion, reflecting a 6.8% increase from the end of 2025. The combined ratio for property and reinsurance was a healthy 96.8%.
The investment side saw remarkable improvements. Total investment income surged 120.5% year-on-year to HK$47.952 billion, while net investment results reached HK$9.694 billion, significantly outperforming the same period last year. The Group's investment asset scale expanded steadily with a stable asset mix. Both net and total investment income registered year-on-year gains, with equity asset performance substantially exceeding the prior-year period.
In the first half, China Taiping made significant strides in serving national strategies, further cementing its corporate mission. Regarding support for Hong Kong's development as an international financial center, the Group actively participated in the public consultation for Hong Kong's inaugural five-year plan, offering constructive recommendations and paying close attention to the Northern Metropolis development. The Group executed its first investment transaction under the Bond Connect Southbound scheme, and a fund under Taiping Financial Holdings was successfully selected for the Hong Kong SAR Government's Innovation and Technology Venture Fund optimization initiative. The Group also effectively managed the "Guangdong Residential Care Services Scheme" for the Hong Kong SAR Government, serving over 1,300 elderly Hong Kong residents.
In terms of the Guangdong-Hong Kong-Macao Greater Bay Area, the number of insured cross-border vehicles grew 15% year-on-year, maintaining market leadership. Significant progress was made on the Hong Kong and Macao flood catastrophe model, and the region's "exclusive + N" life insurance product suite was further enriched. The number of elderly residents from Hong Kong and Macao in the Group's retirement communities continued to rise. Following Guangzhou Kapok Home's inclusion in the "Guangdong Residential Care Services Scheme" last year, residents under this scheme have now moved in.
The ecosystem development also progressed. The Group's self-operated health and wellness communities operated steadily, with resident numbers increasing and home-based care pilot programs advancing smoothly. The Taiping Medical Health Fund and Taiping Science and Technology Innovation Fund have collectively invested in 151 national and provincial-level "little giant" specialized and innovative medical and technology enterprises. The shared services ecosystem was launched, with online services entering trial operation.
At the conference, China Taiping also outlined the key elements of its 15th Five-Year Plan. The strategic vision is to build a world-class insurance group that delivers exceptional value growth and earns customer trust. The plan sets forth five development objectives: achieving significant value creation, enhancing functional roles, markedly improving customer trust, comprehensively deepening digital and intelligent transformation, and ensuring robust risk control and compliance. The strategic layout centers on three major ecosystems—medical and health, fintech, and shared services—integrating the entire chain of "insurance protection, customer service, and technology enablement" to better address customers' diverse and multi-tiered protection needs.
Standing at the new starting point of the 15th Five-Year Plan, China Taiping is committed to executing its blueprint consistently, deepening its high-quality development strategy, actively leveraging opportunities and strengths, and working with unwavering confidence and unity to continuously forge new frontiers in its high-quality development journey.