Trillion-Yuan Insurance Capital Massively Releases "Positive Signals": Ping An, CPIC, and NCI Announce Support for Capital Markets and Enhanced Shareholder Returns on the Same Day

On July 20, the three leading institutions in the insurance industry—Ping An, CPIC, and NCI—successively issued announcements regarding "firmly supporting the development of capital markets and enhancing shareholder returns/actively rewarding investors," releasing positive signals to the market.

From the statements in the announcements, all three companies clearly expressed optimism about the long-term development prospects of China's economy and capital markets, emphasizing that they will leverage the advantages of insurance funds—such as long duration, large scale, and strong stability—to increase support for equity markets and key areas of the real economy.

At the same time, Ping An, NCI, and CPIC have all scheduled preparations for interim dividends, further enhancing the stability, continuity, and predictability of cash dividends.

Against the backdrop of the capital market continuously emphasizing the entry of long-term funds and enhancing the investment value of listed companies, the intensive statements from leading insurance enterprises not only reflect the allocation direction of insurance funds as "patient capital" but also convey clear confidence to investors in enhancing shareholder returns.

Ping An: Increase Investment in Emerging Industries, New Infrastructure, and Value-Oriented Assets

On the evening of July 20, Ping An released the "Announcement on Firmly Supporting the Development of Capital Markets and Enhancing Shareholder Returns."

Ping An stated that as a large comprehensive financial group and an important force in the development of capital markets, it is full of confidence in the development prospects of China's economy and firmly optimistic about the long-term value of China's capital markets. Ping An will further leverage the advantages of its large-scale, long-term funds, flexibly utilize various comprehensive financial tools and investment strategies, and continue to increase investment in strategic emerging industries, advanced manufacturing, new infrastructure, and value-oriented assets.

Ping An emphasized that it will demonstrate the due responsibility of patient capital through concrete actions.

Regarding shareholder returns, Ping An stated that the company attaches great importance to providing reasonable investment returns to investors. From 2011 to 2025, the company's total cash dividends have grown for 15 consecutive years, with cash dividends implemented 31 times cumulatively, totaling over RMB 400 billion.

Regarding the profit distribution arrangement for 2026, Ping An stated that it will continue to adhere to stable and sustainable cash dividend policies and concepts, and actively prepare for interim and annual profit distribution in accordance with the company's articles of association, sharing the results of high-quality development with investors and effectively enhancing investors' sense of gain.

CPIC: Continuously Increase Equity Allocation, Focus on Technology Growth, Consumption, and New Energy

At noon on the same day, CPIC released the "Announcement on Firmly Supporting the Development of Capital Markets and Enhancing Shareholder Returns," clearly stating that it would leverage the advantages of insurance funds to support the development of capital markets.

CPIC stated that the company firmly believes in the long-term positive fundamentals of China's economy and is firmly optimistic about the development prospects of China's capital markets. The company adheres to the investment philosophy of "value investment, long-term investment, prudent investment, and responsible investment" and is optimistic about the long-term allocation value of China's equity market.

The announcement showed that since the beginning of this year, CPIC has continuously leveraged the long-term investment advantages of insurance funds and increased the proportion of equity allocation. Going forward, it will continue to invest in stocks and ETFs in fields such as technology growth, consumption, and new energy, supporting the cultivation and development of new quality productive forces, and acting as true market patient capital.

Regarding dividend arrangements, CPIC stated that it would firmly implement existing profit distribution policies, optimize the frequency of dividends, and continuously reward shareholders.

According to its profit distribution policy, the company anchors on operating profit, supplemented by increased dividends from positive investment contributions, while taking solvency constraints into account. For the 2025 fiscal year, CPIC's shareholders' meeting decided to distribute an annual cash dividend of RMB 1.15 per share (including tax), totaling approximately RMB 11.063 billion, an increase of 6.5% compared to the previous year.

For 2026, CPIC stated that it would focus on optimizing the rhythm of dividends and actively prepare for interim profit distribution. According to the resolution of the 2025 annual shareholders' meeting, the board of directors is authorized to decide on the 2026 interim profit distribution plan, enhancing the stability, continuity, and predictability of dividends, and further improving investors' sense of gain.

NCI: Increase Intensity of Equity Investment, Enhance Support for Sci-Tech Innovation

On the evening of the same day, NCI released the "Announcement on Firmly Supporting the Development of Capital Markets and Actively Rewarding Investors."

NCI stated that the company is full of confidence in China's economic development, firmly optimistic about the development prospects of China's capital markets, adheres to long-term, value-oriented, and prudent investment philosophies, actively serves national strategies, supports the real economy, continuously leverages the advantages of insurance funds as strategic capital, long-term capital, and patient capital, increases the intensity of equity asset investment, enhances support for sci-tech innovation and new quality productive forces, continuously optimizes the structure of equity asset allocation, and firmly supports the development of capital markets.

Regarding dividend arrangements, NCI stated that the company keeps in mind the original aspiration and mission of serving the country and the people through finance, adheres to the path of connotative high-quality development, strengthens strategic guidance, focuses on the synergy of "Insurance + Service + Investment," continuously deepens professional, market-oriented, and systematic reforms, enhances long-term competitiveness and operational efficiency, and creates long-term sustainable returns for shareholders. Since 2024, the company has added interim dividends on top of annual dividends to actively reward broad investors. In 2025, the total amount of interim and annual dividends reached RMB 8.516 billion (including tax), a year-on-year increase of 7.9%.

NCI stated that in 2026, the company will solidify the foundation of earnings through prudent operations, continue to implement a dividend method combining interim cash dividends with annual cash dividends, and actively reward investors.

According to the 2025 annual reports, the total asset size of Ping An, CPIC, and NCI reached RMB 11 trillion. The strong stance of insurance funds of this scale is certainly beneficial for market confidence.

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