中国太平保险集团有限责任公司2025中期报告

INTERIMREPORT

CHINATAILINGlockCod'eHKOO966CONTENT目錄FinancialStatements財務報告CondensedConsolidatedStatementofProfitorLoss簡明綜合損益表 3CondensedConsolidatedStatementofProfitorLossandOtherComprehensiveIncome簡明綜合損益及其他綜合收益表 4CondensedConsolidatedStatementofFinancialPosition簡明綜合財務狀況表 5CondensedConsolidatedStatementofChangesinEquity簡明綜合權益變動表 7CondensedConsolidatedStatementofCashFlows簡明綜合現金流量表 9NotestotheUnauditedCondensedConsolidatedFinancialStatements

未經審核簡明綜合財務報表附註BasisofPreparation 編製基準 10SegmentInformation 營運分部 12InsuranceRevenue 保險服務收入 184 InvestmentReturnandInsuranceFinanceIncome/Expenses投資回報和保險合同金融變動額205 InterestRevenue利息收益226 OtherInvestmentReturn其他投資回報237 NetImpairmentGains/(Losses)onFinancialAssets金融資產減值收益╱淨額248 OtherIncome其他收益249 Expenses費用2510 ProfitBeforeTaxation除稅前溢利2611 IncomeCharges稅項支出2712 Dividends股息2813 EarningsPerShare每股盈利2914 StatutoryDeposits法定存款3015 FixedAssets固定資產3116 FinancialInvestments金融投資3217 SecuritiesPurchasedUnderResaleAgreements/SecuritiesSoldUnderRepurchaseAgreements買入返售證券╱賣出回購證券3418 FinanceLeaseReceivables應收金融租賃款3619 OtherAssets其他資產3720 CashandCashEquivalents現金及現金等價物3821 InsuranceContractLiabilities保險合同負債3822 Interest-BearingNotes需付息票據4023 BankBorrowings銀行貸款4124 ShareCapital股本4225 Reserves儲備4326 PerpetualSubordinatedCapitalSecurities永續次級資本證券4727 FairValuesofFinancialInstruments金融工具的公允價值4928 DeemedAcquisition/AcquisitionofPartialInterestsinaSubsidiary視同收購附屬公司╱收購附屬公司部分權益53Commitments 承擔 54MaterialRelatedPartyTransactions 重大關聯人士交易 55InsuranceandFinancialRiskManagement 保險及財務風險管理 5676ManagementDiscussionandAnalysis管理層討論和分析112EmbeddedValue內含價值117ChangestoInformationinrespectofDirectors董事資料的變動76ManagementDiscussionandAnalysis管理層討論和分析112EmbeddedValue內含價值117ChangestoInformationinrespectofDirectors董事資料的變動118Directors’andChiefExecutive’sInterestsandShortPositionsinShares,UnderlyingSharesandDebentures董事及最高行政人員的股份、相關股份及債權證的權益及淡倉119SubstantialShareholders’andOtherPersons’InterestsandShortPositionsinSharesandUnderlyingShares主要股東及其他人士的股份及相關股份的權益及淡倉120CorporateGovernance企業管治121ReportonReviewofInterimFinancialInformation中期財務資料的審閱報告123CorporateInformation公司資料125Definitions釋義CondensedConsolidatedStatementofProfitorLoss簡明綜合損益表forthesixmonthsended30June2025–unaudited2025630日止六個月－未經審核(ExpressedinHongKongdollars)（以港元列示）Sixmonthsended30June20252024Notes$’00020252024Notes$’000$’000附註千元千元Insurancerevenue 保險服務收入 3Insuranceserviceexpenses 保險服務費用 9Netexpensesfromreinsurance 持有的再保險合同淨費用contractsheld55,963,559(42,008,623)(1,638,600)55,874,723(43,148,387)(1,477,021)Insuranceserviceresults 保險服務業績Interestrevenue 利息收益 5Financialassetsnotmeasured 不以公允價值計量計入損益的atfairvaluethroughprofitorloss 金融資產Financialassetsmeasured 以公允價值計量計入損益的atfairvaluethroughprofitorloss 金融資產Otherinvestmentreturn 其他投資回報 6Netimpairmentgains/(losses)on 金融資產減值收益╱）financialassets 淨額 7Shareofresultsofassociatesand 應佔聯營公司及合營公司業績jointventuresInvestmentreturn 投資回報 4(a)Financeexpensesfrominsurance 承保財務費用contractsissued 4(b)Financeincomefromreinsurance 分出再保險財務收益contractsheld 4(c)Netchangesininvestmentcontract 投資合約負債變動淨額liabilities 4(d)Netinvestmentresults 淨投資業績Otherincome 其他收益 8Otheroperatingexpenses 其他行政費用 9Otherfinancecosts 其他財務費用 10(a)Profitbeforetaxation 除稅前溢利 10Incometaxcharges 稅項支出 11Profitaftertaxation 除稅後溢利Attributableto: OwnersoftheCompany 本公司股東權益Non-controllinginterests 非控股股東權益Earningspershareattributableto 本公司股東應佔每股盈利theordinaryshareholders 13Basic 基本Diluted 攤薄12,316,33611,249,31519,895,95019,669,79715,485,2674,410,68314,621,8405,047,957701,89380,6441,070,57217,656,096(1,223,973)1,140,05321,749,059(22,411,331)167,965(40,344)37,241,973(29,872,643)169,676(35,628)(534,651)7,503,3783,532,036(3,746,756)(1,304,758)2,955,583(3,284,371)(1,895,748)10,262,207(1,070,519)16,528,157(7,549,913)9,191,6888,978,2446,764,4062,427,2826,026,6802,951,5649,191,6888,978,244dollars元1.744dollars元1.5381.7441.538Theaccompanyingnotesonpages10to75formanintegralpartoftheseinterimfinancialstatements.

第10至75頁所附附註為本中期財務報表的組成部份。簡明綜合損益及其他綜合收益表forthesixmonthsended30June2025–unaudited截至2025年6月30日止六個月－未經審核(ExpressedinHongKongdollars)（以港元列示）Sixmonthsended30June截至6月30日止六個月2025 2024$’000 $’000千元 千元Profitaftertaxation 除稅後溢利Othercomprehensiveincome: 其他綜合收益：Itemsthatwillnotbereclassifiedto 將不會重新分類至損益之項目：profitorloss:Revaluationgainarisingfrom 因自用物業重新分類為reclassificationofown-useproperties 投資物業而產生之重估收，toinvestmentproperties, 減遞延稅項netofdeferredtaxExchangedifferencesontranslationof 非境外的附屬公、thefinancialstatementsofsubsidiaries, 聯營公司及合營公司associatesandjointventureswhichare 財務報表的匯兌差額notforeignoperationsChangesinthefairvalueof 以公允價值計量且其變動equityinvestmentsatfairvaluethrough 計入其他綜合收益的othercomprehensiveincome, 權益投資的公允價值變，netofdeferredtax 減遞延稅項Financeexpensesfrominsurance 已簽發保險合同的財務費用，contractsissued,netofdeferredtax 減遞延稅項Itemsthatmaybesubsequently 隨後可能重新分類至損益之項目：reclassifiedtoprofitorloss:Exchangedifferencesontranslationof 換算境外的營運業務財務報表的thefinancialstatementsof 匯兌差額foreignoperationsChangesinthefairvalueofdebt 以公允價值計量且其變動investmentsatfairvaluethrough 計入其他綜合收益的othercomprehensiveincome, 債務投資的公允價值變，netofdeferredtax 減遞延稅項Financeexpensesfrom 已簽發保險合同的財務費用，insurancecontractsissued, 減遞延稅項netofdeferredtaxFinanceincome/(expenses)fom 持有的再保險合同的財務收入╱（，reinsurancecontractsheld, 減遞延稅項netofdeferredtaxShareofothercomprehensiveincome 應佔聯營企業和合營企業其他全面收益，ofassociatesandjointventures, 減遞延稅項netofdeferredtaxTotalcomprehensiveincomefortheperiod本財務期綜合收益總額Attributableto: OwnersoftheCompany 本公司股東權益Non-controllinginterests 非控股股東權益9,191,68848,5971,659,7791,851,182(11,997)182,4064,603,896(10,798,159)73,512(42,786)8,978,2443,490(778,136)4,221,387(4,254)(42,041)26,995,841(37,191,220)(6,819)–6,758,1182,176,4924,931,7301,826,3881,243,788932,7046,758,1182,176,492Theaccompanyingnotesonpages10to75formanintegralpartoftheseinterimfinancialstatements.

第10至75頁所附附註為本中期財務報表的組成部份。CondensedConsolidatedStatementofFinancialPosition簡明綜合財務狀況表asat30June2025–unaudited於2025年6月30日－未經審核(ExpressedinHongKongdollars)（以港元列示）At30JuneAt31December20252024於2025年於2024年6月30日12月31日Notes$’000$’000附註千元千元Assets 資產Statutorydeposits 法定存款 14Fixedassets 固定資產 15Propertyandequipment －物業及設備Investmentproperties －投資物業Right-of-useassets －租賃使用權資產Goodwill 商譽Intangibleassets 無形資產Interestsinassociatesandjointventures於聯營公司及合營公司的權益Deferredtaxassets 遞延稅項資產Financialinvestments 金融投資 16Atfairvaluethrough －以公允價值計量且其變動profitorloss 計入損益Atamortisedcost －以攤餘成本計量Debtinvestmentsat －以公允價值計量且其變動fairvaluethrough 計入其他綜合收益的othercomprehensiveincome 債務投資Equityinvestmentsat －以公允價值計量且其變動fairvaluethrough 計入其他綜合收益的othercomprehensiveincome 權益投資Securitiespurchasedunderresale 買入返售證券agreements 17Amountsduefromgroupcompanies 應收集團內公司款項Insurancecontractassets 保險合同資產Reinsurancecontractassets 再保險合同資產Financeleasereceivables 應收金融租賃款 18Otherassets 其他資產 19Pledgedandrestrictedbankdeposits 已抵押及受限制銀行存款Depositsatbankswithoriginalmaturity 原到期日超過三個月的morethanthreemonths 銀行存款Cashandcashequivalents 現金及現金等價物 206,337,3696,430,61840,627,32924,296,6754,515,93739,871,35422,829,1086,263,50069,439,94168,963,962353,343264,54126,164,7679,802,582444,359,536100,649,781977,644,19452,530,6873,296,3131,348,069649,44611,772,77341,751,51515,614,7421,476,97268,578,01042,084,611352,587261,40828,918,6738,495,132449,973,516112,160,533828,786,13951,396,3412,005,6211,312,476870,98210,793,56844,903,61712,435,1801,226,23660,666,84344,388,5821,874,119,1921,734,342,014CondensedConsolidatedStatementofFinancialPosition(Continued)簡明綜合財務狀況表（續）asat30June2025–unaudited於2025年6月30日－未經審核(ExpressedinHongKongdollars)（以港元列示）At30JuneAt31December20252024於2025年於2024年6月30日12月31日Notes$’000$’000附註千元千元Liabilities 負債Insurancecontractliabilities 保險合同負債 21Reinsurancecontractliabilities 再保險合同負債Investmentcontractliabilities 投資合約負債Deferredtaxliabilities 遞延稅項負債Interest-bearingnotes 需付息票據 22Bankborrowings 銀行貸款 23Leaseliabilities 租賃負債Securitiessoldunderrepurchase 賣出回購證券agreements 17Amountsduetogroupcompanies 應付集團內公司款項Otherpayablesandaccruals 其他應付及應計款項Currenttaxation 當期稅項Netassets 資產淨值Capitalandreservesattributableto 本公司股東應佔資本及儲備ownersoftheCompanySharecapital 股本 24Reserves 儲備 25Perpetualsubordinatedcapitalsecurities永續次級資本證券 26Non-controllinginterests 非控股股東權益equity 總權益1,522,793,729192,66021,113,4001,937,49013,193,96568,044,8601,345,42864,136,19517,15244,061,864848,1501,413,410,38193,08220,379,7131,871,36310,813,42269,872,2311,437,89946,683,21322,14646,773,159577,9551,737,684,8931,611,934,564136,434,299122,407,45040,771,40833,466,25740,771,40830,309,00074,237,66515,990,19571,080,40815,990,48690,227,86046,206,43987,070,89435,336,556136,434,299122,407,450Theaccompanyingnotesonpages10to75formanintegralpartoftheseinterimfinancialstatements.

第10至75頁所附附註為本中期財務報表的組成部份。CondensedConsolidatedStatementofChangesinEquity簡明綜合權益變動表forthesixmonthsended30June2025–unaudited截至2025年6月30日止六個月－未經審核(ExpressedinHongKongdollars)（以港元列示）Sharecapital股本Capitalreserve資本儲備Mergerreserve合併儲備Exchangereserve匯兌儲備Notes$’000$’000$’000$’000附註千元千元千元千元Balanceat1January2025於2025年1月1日之結餘40,771,408(5,618,303)(6,842,218)(7,854,208)Profitfortheperiod本財務期溢利––––Othercomprehensiveincome本財務期其他綜合收益，fortheperiod,netofdeferredtax減遞延稅項–––1,474,194Totalcomprehensiveincome綜合收益總額–––1,474,194Dividenddeclaredtoshareholders向股東宣佈的股息12(a)––––Dividenddeclaredbysubsidiariesto附屬公司向非控股股東non-controllinginterests宣佈的股息––––Issuanceofperpetualcapitalsecurities發行永續資本證券26––––Distributiontoholdersofperpetualsubordinated向永續次級資本證券持有人分配capitalsecuritiesDeclaredtoholdersofperpetualsubordinated向永續次級資本證券持有人宣佈26––––capitalsecurities26––––Deemedacquisitionofasubsidiary視同收購一間附屬公司28(a)––––Acquisitionofpartialinterestsinasubsidiary購入一間附屬公司部分權益28(b)–(18,388)––Disposalofequityinvestmentsatfairvalue處置以公允價值計量且其變動計入throughothercomprehensiveincome其他綜合收益的權益投資16(ii)––––Balanceat30June2025於2025年6月30日之結餘40,771,408(5,636,691)(6,842,218)(6,380,014)Sharecapital股本Capitalreserve資本儲備Mergerreserve合併儲備Exchangereserve匯兌儲備Notes$’000$’000$’000$’000附註千元千元千元千元Balanceat1January2024 於2024年1月1日之結餘40,771,408(5,618,303)(6,842,218)(5,962,339)Profitfortheperiod 本財務期溢利––––Othercomprehensiveincome 本財務期其他綜合收益，fortheperiodnetofdeferredtax 減遞延稅項–––(585,322)Totalcomprehensiveincome 綜合收益總額–––(585,322)Dividenddeclaredtoshareholders 向股東宣佈的股息 12(a)––––Dividenddeclaredbysubsidiariesto 附屬公司向非控股股東non-controllinginterests 宣佈的股息––––Distributiontoholdersofperpetualsubordinated向永續次級資本證券持有人分配capitalsecurities 26––––Declaredtoholdersofperpetualsubordinated 向永續次級資本證券持有人宣佈capitalsecurities 26––––Disposalofequityinvestmentsatfairvalue 處置以公允價值計量且其變動計入throughothercomprehensiveincome 其他綜合收益的權益投資 16(ii)––––Balanceat30June2024 於2024年6月30日之結餘40,771,408(5,618,303)(6,842,218)(6,547,661)Theaccompanyingnotesonpages10to75formanintegralpartoftheseinterimfinancialstatements.

第10至75頁所附附註為本中期財務報表的組成部份。CondensedConsolidatedStatementofChangesinEquity簡明綜合權益變動表（續）forthesixmonthsended30June2025–unaudited截至2025年6月30日止六個月－未經審核(ExpressedinHongKongdollars)（以港元列示）AttributabletoownersoftheCompany歸屬於本公司股東PerpetualOrdinarysubordinatedFairvalueInsuranceRevaluationRetainedshareholderscapitalsecuritiesNon-controllingreservefinancereservereserveprofitssub-total永續次級interestsTotal公允價值儲備保險金融儲備重估儲備保留溢利普通股股東小計資本證券非控股股東權益總額$’000$’000$’000$’000$’000$’000$’000$’000千元千元千元千元千元千元千元千元80,084,469(121,936,408)1,639,95490,835,71471,080,40815,990,48635,336,556122,407,450–4,953,520–(8,308,497)–48,1076,764,406–6,764,406(1,832,676)––2,427,282(600,894)9,191,688(2,433,570)4,953,520(8,308,497)48,1076,764,4064,931,730–1,826,3886,758,118–––(1,257,906)(1,257,906)––(1,257,906)––––––(1,194,654)(1,194,654)––––––9,752,6099,752,609–––(498,179)(498,179)498,179–––––––(498,470)–(498,470)––––––478,064478,064––––(18,388)–7,476(10,912)89,041––(89,041)––––85,127,030(130,244,905)1,688,06195,754,99474,237,66515,990,19546,206,439136,434,299AttributabletoownersoftheCompanyPerpetualOrdinaryPerpetualOrdinarysubordinatedFairvalueInsuranceRevaluationRetainedshareholderscapitalsecuritiesNon-controllingreservefinancereservereserveprofitssub-total永續次級interestsTotal公允價值儲備保險金融儲備重估儲備保留溢利普通股股東小計資本證券非控股股東權益總額$’000$’000$’000$’000$’000$’000$’000$’000千元千元千元千元千元千元千元千元32,151,963(61,414,865)1,562,38484,340,08078,988,11015,991,52437,616,020132,595,654–––6,026,6806,026,680–2,951,5648,978,24423,858,193(28,059,253)3,490–(4,782,892)–(2,018,860)(6,801,752)23,858,193(28,059,253)3,4906,026,6801,243,788–932,7042,176,492–––(1,078,206)(1,078,206)––(1,078,206)––––––(872,049)(872,049)–––(500,591)(500,591)500,591–––––––(500,285)–(500,285)(20,875)––20,875––––55,989,281(89,474,118)1,565,87488,808,83878,653,10115,991,83037,676,675132,321,606CondensedConsolidatedStatementofCashFlows簡明綜合現金流量表forthesixmonthsended30June2025–unaudited截至2025年6月30日止六個月－未經審核(ExpressedinHongKongdollars)（以港元列示）Sixmonthsended30June截至6月30日止六個月20252024Notes$’000$’000附註千元千元Netcashgeneratedfrom經營業務所產生之現金淨額operatingactivities60,680,50379,708,417Netcashusedininvestingactivities投資業務所動用之現金淨額(71,565,276)(53,083,871)Netcashgeneratedfrom/(usedin)融資活動所產生╱之financingactivities現金淨額8,056,064(22,059,976)Effectofchangesinexchangerates匯率轉變影響524,738(221,247)Netincrease/(decrease)incashand現金及現金等價物cashequivalents淨額(2,303,971)4,343,323Cashandcashequivalents於1月1日的現金及現金等價物at1January44,388,58242,554,402Cashandcashequivalents於6月30日的現金及現金等價物at30June42,084,61146,897,725Analysisofthebalancesof現金及現金等價物餘額分析：cashandcashequivalents:Depositswithbanksand原到期日少於三個月的銀行及otherfinancialinstitutionswith其他金融機構存款originalmaturitylessthanthreemonths2011,674,18016,167,642Cashatbankandonhand銀行及庫存現金2030,410,43130,730,08342,084,61146,897,725Theaccompanyingnotesonpages10to75formanintegralpartoftheseinterimfinancialstatements.

第10至75頁所附附註為本中期財務報表的組成部份。NotestotheUnauditedCondensedConsolidatedFinancialStatements未經審核簡明綜合財務報表附註(ExpressedinHongKongdollars)（以港元列示）1 BASISOFPREPARATIONTheunauditedcondensedconsolidatedfinancialstatementshavebeenpreparedinaccordancewiththeapplicabledisclosurerequirementsofAppendix16totheRulesGoverningtheListingofSecuritiesonTheStockExchangeofHongKongLimited(the“ListingRules”),andwithHKAS34InterimfinancialreportingissuedbytheHongKongInstituteofCertifiedPublicAccountants(the“HKICPA”).Itwasauthorisedforissuanceon28August2025.Thefinancialstatementsrelatingtotheyearended31December2024thatisincludedinthecondensedconsolidatedinterimfinancialstatementsforthesixmonthsended30June2025ascomparativeinformationdoesnotconstitutetheCompany’sstatutoryannualconsolidatedfinancialstatementsforthatyear.Furtherinformationrelatingtothesestatutoryfinancialstatementsrequiredtobedisclosedinaccordancewithsection436oftheHongKongCompaniesOrdinance(Cap.622)isasfollows:TheCompanyhasdeliveredthefinancialstatementsfortheyearended31December2024totheRegistrarofCompaniesasrequiredbysection662(3)of,andPart3ofSchedule6to,theHongKongCompaniesOrdinance(Cap.622).TheCompany’sauditorhasreportedonthosefinancialstatements.Theauditor’sreportwasunqualified;didnotincludeareferencetoanymatterstowhichtheauditordrewattentionbywayofemphasiswithoutqualifyingitsreport;anddidnotcontainastatementundersections406(2),407(2)or(3)oftheHongKongCompaniesOrdinance(Cap.622).ThepresentationoffinancialstatementsinconformitywithHKFRSAccountingStandardsrequirestheuseofcertaincriticalaccountingestimates.ItalsorequiresmanagementtoexerciseitsjudgementintheprocessofapplyingtheGroup’saccountingpolicies.ThemeasurementbasisusedinthepreparationofthecondensedfinancialstatementsisthehistoricalcostbasisexceptthatthefollowingassetsandliabilitiesarestatedatfairvalueormeasuredprimarilybasedonactuarialmethodsasexplainedintheaccountingpoliciessetoutintheGroup’sannualfinancialstatementsfortheyearended31December2024:

1 編製基準本未經審核簡明綜合財務報表已根據香港聯）附錄16的適用披露規定及遵照香港會計師公會所頒佈的《香港會計準則》第34務報告」準則編製，並於2025年8月28日核准雖然截至2025年6月30日止六個月之簡明綜合財務報表載有截至2024年12月31日止財政年度之財務資料以作為比較資料，惟該等資料並不構成本公司在該財政年度之法定年度綜合財務報表。根據香港《公司條例》（第622章）第436條而須披露之有關該等法定財務報表之進一步資料如下：本公司已根據《公司條例（第622章662(3)條及其附表6第3部之要求，向公司註冊處處長呈交截至2024年12月31日止財政年度之財務報表。本公司之核數師已就該等財務報表作出審計併發出無保留意見之審計報告；審計報告中並無提述任何核數師在不作保留意見之情況下，以注意事項的方式，敬希垂注的事宜；亦未（第622章第407(2)或(3)條所指的聲明。根據香港財務報告會計準則規定編製財務報表需進行若干會計估計，並規定管理層在採用本集團會計政策時作出判斷。除以下資產及負債是以公允價值列賬或以精算方法計量外，本簡明綜合財務報表是以歷史至2024年12月31日止財政年度之財務報告內之會計政策：1 BASISOFPREPARATION(Continued)StatedatfairvalueInvestmentproperties;Financialinvestmentsatfairvaluethroughprofitorloss;Debtinvestmentsatfairvaluethroughothercomprehensiveincome;Equityinvestmentsatfairvaluethroughothercomprehensiveincome;andCertaininvestmentcontractliabilities.MeasuredprimarilybasedonactuarialmethodsInsuranceandreinsurancecontractassetsandliabilities.Theaccountingpoliciesandmethodsofcomputationusedinthecondensedconsolidatedfinancialstatementsforthesixmonthsended30June2025arethesameasthosefollowedinthepreparationoftheGroup’sannualfinancialstatementsfortheyearended31December2024,exceptfortheadoptionofnewstandardseffectiveasat1January2025.TheGrouphasnotearlyadoptedanyotherstandards,interpretationoramendmentsthathasbeenissuedbutnoteffective.NewaccountingstandardsandamendmentsadoptedbytheGroupforthefirsttimeoffinancialyearbeginningon1January2025Inthecurrentinterimperiod,theGrouphasappliedthefollowingamendmentstoHKFRSAccountingStandardsissuedbytheHKICPA.（續）以公允價值列賬投資物業；以公允價值計量且其變動計入損益的金以公允價值計量且其變動計入其他綜合收益的債務投資；以公允價值計量且其變動計入其他綜合收益的權益投資；以及特定投資合約負債。主要是基於精算方法計量保險及再保險合同資產和負債。除採用自2025年1月1日起有效的新會計政策2025年6月30日止六個月的簡明綜合財務報表所採用的會計政策和計算方法與編製本集團截至2024年12月31日止財政年度的財務報表所採用的相同。本集團尚未提早採納於2025年1月1日開始的財政年度被本集團首次應用的新會計準則及修訂本財務期內，本集團已應用下列由香港會計師公會頒佈之香港財務報告會計準則。AmendmentstoHKAS21 LackofExchangeability香港會計準則第21號之修訂 缺乏可兌換性2 SEGMENTINFORMATIONTheGroupisorganisedprimarilybasedondifferenttypesofbusinesses.TheinformationreportedtotheBoard,beingthechiefoperatingdecisionmaker,forthepurposeofresourcesallocationandperformanceassessment,arepreparedandreportedonsuchbasis.Accordingly,theGroup’soperatingsegmentsaredetailedasfollows:Lifeinsurancebusiness;PRCdomesticpropertyandcasualtyinsurancebusiness;Overseaspropertyandcasualtyinsurancebusiness;Reinsurancebusiness;andOtherbusinesseswhichcomprisedtheassetmanagementbusiness,insuranceintermediarybusiness,financialleasing,propertyinvestmentbusiness,securitiesdealingandbrokingbusiness.Informationregardingtheabovesegmentsisreportedbelow.ManagementmonitorstheoperatingresultsoftheGroup’sbusinessunitsseparatelyforthepurposeofperformanceassessment.營運分部本集團主要由各項業務組成。向董事會（要營運決策者呈報以進行資源分配及評估表現之資料，亦按此基準編製及呈報。因此，本集團營運分部的詳情載列如下：人壽保險業務；境內財產保險業務；境外財產保險業務；其他業務，包括資產管理業務、保險中介業務、金融租賃、物業投資業務、證券買賣及經紀業務。有關上述分部的資料列報如下。管理層透過監控本集團各業務單位之營運業績以評估分部表現。2 SEGMENTINFORMATION(Continued)Segmentalstatementofprofitorlossforthesixmonthsended30June2025

2 （續）截至2025年6月30日止六個月分部損益表Life

PRCdomesticpropertyandcasualtyinsurance

Sixmonthsended30June2025截至2025年6月30日止六個月Overseaspropertyandcasualtyinsurance

Other

segmenteliminationandadjustmentinsurance人壽保險

境內財產保險

境外財產保險

Reinsurance再保險

businesses其他業務

內部對銷及調整

Total總額$’000 $’000 $’000 $’000 $’000 $’000 $’000千元 千元 千元 千元 千元 千元 千元Insurancerevenue 保險服務收入Insuranceserviceexpenses 保險服務費用

32,249,982 17,127,696 2,770,764 4,161,544 – (346,427) 55,963,559(20,973,942)(15,996,106) (1,589,127) (3,653,016) – 203,568 (42,008,623)Netexpensesfromreinsurancecontractsheld

持有的再保險合同淨費用

(341,291) (353,863) (823,769) (226,928) – 107,251 (1,638,600)Insuranceserviceresults 保險服務業績

10,934,749 777,727 357,868 281,600 – (35,608) 12,316,336Interestrevenue 利息收益Otherinvestmentreturn 其他投資回報

17,905,435 415,650 212,577 741,942 160,917 459,429 19,895,950892,154 102,847 90,745 210,241 (419,433) (174,661) 701,893Netimpairmentgains/(losses)onfinancialassetsShareofresultsofassociatesandjointventures

金融資產減值收益╱虧損淨額應佔聯營公司及合營公司業績

60,838 4,247 (821) 8,748 6,524 1,108 80,644951,667 (56,704) – – 20,346 155,263 1,070,572Investmentreturn 投資回報

19,810,094 466,040 302,501 960,931 (231,646) 441,139 21,749,059FinanceexpensefrominsurancecontractsissuedFinanceincomefromreinsurancecontractsheldNetchangesininvestmentcontractliabilities

承保財務費用分出再保險財務收益投資合約負債變動淨額

(21,646,210) (231,693) (190,839) (363,754) – 21,165 (22,411,331)43,423 35,800 90,310 20,796 – (22,364) 167,965(22,866) – – (17,478) – – (40,344)Netinvestmentresults 淨投資業績

(1,815,559) 270,147 201,972 600,495 (231,646) 439,940 (534,651)Otherincome 其他收益Otheroperatingexpenses 其他行政費用Otherfinancecosts 其他財務費用

1,289,802 (8,657) (27,446) 89,259 4,260,529 (2,071,451) 3,532,036(1,435,954) (117,427) (214,591) (54,728) (3,567,003) 1,642,947 (3,746,756)(113,116) (47,647) (14,298) (29,464) (1,196,459) 96,226 (1,304,758)Profitbeforetaxation 除稅前溢利Incometaxcharges 稅項支出

8,859,922 874,143 303,505 887,162 (734,579) 72,054 10,262,207(581,563) (187,721) (45,402) (15,361) (215,930) (24,542) (1,070,519)Profitaftertaxation 除稅後溢利Non-controllinginterests 非控股股東權益

8,278,359 686,422 258,103 871,801 (950,509) 47,512

9,191,688(2,427,282)ProfitattributabletoownerstheCompany

本公司股東應佔溢利

6,764,406Segmentrevenue(includinginsurancerevenueandinvestmentreturn)andsegmentprofit/(loss)representtherevenueandprofit/(loss)earnedbyeachsegmentwhichisthemeasure

（）及分部溢利╱指各分部收入及溢2 SEGMENTINFORMATION(Continued)Segmentalstatementoffinancialpositionasat30June2025

2 （續）於2025年6月30日分部財務狀況表3,931,2981,762,130113,933527,8622,146–6,337,3694,494,6793,931,2981,762,130113,933527,8622,146–6,337,3694,494,679924,584544,24935,22529,953,5024,675,09040,627,3294,296,608482,9213,054,882216,03022,369,959(6,123,725)24,296,6751,441,645426,42036,66194,2663,099,948(583,003)4,515,937––––49,696303,647353,343––––3,133261,408264,54141,072,8382,606,457––1,768,897(19,283,425)26,164,767401,095,2078,216,917768,3406,010,5055,872,29622,396,271444,359,53671,750,3865,256,8743,877,51113,254,9492,455,2204,054,841100,649,781946,928,22610,548,5973,726,33313,354,5433,086,495–977,644,19445,355,3123,466,015294,694865,5172,767,986(218,837)52,530,68744,120549,56410,85067,269–(22,357)649,4464,437,3612,318,4503,738,1901,456,331–(177,559)11,772,773––––41,751,515–41,751,51577,428,5979,844,3252,406,3726,650,9149,691,5756,117,810112,139,59318,772,7162,061,0081,193,7922,329,3568,193,355(2,488,521)30,061,7061,621,048,99348,464,26219,765,80744,862,767131,065,7238,911,6401,874,119,1921,460,060,37725,765,5518,935,93728,518,969–(487,105)1,522,793,72940,039146,81939,7632,827–(36,788)192,66019,751,922–141,3971,220,081––21,113,4003,824,5313,339,498–1,443,1854,586,751–13,193,965––––68,044,860–68,044,8601,302,831366,21534,72199,594157,263(615,196)1,345,42847,407,3242,851,573672,232164,426621,82412,418,81664,136,19521,867,1334,823,2071,369,177756,88716,211,4251,836,82746,864,6561,554,254,15737,292,86311,193,22732,205,96989,622,12313,116,5541,737,684,893(46,206,439)90,227,860At30June2025於2025年6月30日PRCInter-domesticOverseassegmentpropertypropertyeliminationandcasualtyandcasualtyandLifeinsuranceinsuranceOtheradjustmentinsurance境內境外Reinsurancebusinesses內部對銷Total人壽保險財產保險財產保險再保險其他業務及調整總額$’000$’000$’000$’000$’000$’000$’000千元千元千元千元千元千元千元Statutorydeposits法定存款Fixedassets固定資產–Propertyandequipment－物業及設備–Investmentproperties－投資物業–Right-of-useassets－租賃使用權資產Goodwill商譽Intangibleassets無形資產Interestsinassociatesand於聯營公司及合營公司的jointventures權益Financialinvestments金融投資–Atfairvaluethroughprofitorloss－以公允價值計量且其變動計入損益–Atamortisedcost－以攤餘成本計量–Debtinvestmentsatfairvalue－以公允價值計量且其throughothercomprehensive變動計入其他綜合income收益的債務投資–Equityinvestmentsatfairvalue－以公允價值計量且其throughothercomprehensive變動計入其他綜合income 收益的權益投資Reinsurancecontractassets 再保險合同資產Cashandbankdeposits 現金及銀行存款Segmentassets 分部資產Insurancecontractliabilities 保險合同負債Investmentcontractliabilities 投資合約負債Bankborrowings 銀行貸款Securitiessoldunderrepurchase 賣出回購證券agreementsSegmentliabilities 分部負債Non-controllinginterests 非控股股東權益Netassetsattributableto 本公司股東應佔資產淨額ownersoftheCompanyFinanceleasereceivables 應收金融租賃款Othersegmentassets 其他分部資產Reinsurancecontractliabilities 再保險合同負債Interest-bearingnotes 需付息票據Leaseliabilities 租賃負債Othersegmentliabilities 其他分部負債Segmentassetsandsegmentliabilitiesrepresenttheassets/liabilitiesrecordedbyeachsegmentwhichisthemeasurereportedtotheBoardforthepurposeofresourceallocationandassessmentofsegmentperformance.

分部資產及分部負債指各分部資產╱負債，此乃向董事會呈報之方法，以進行資源分配及評估分部表現。2 SEGMENTINFORMATION(Continued)Segmentalstatementofprofitorlossforthesixmonthsended30June2024

2 （續）截至2024年6月30日止六個月分部損益表Sixmonthsended30June2024截至2024年6月30日止六個月PRCdomesticOverseassegmentLifepropertyandcasualtyinsurancepropertyandcasualtyinsuranceOthereliminationandadjustmentinsurance境內境外Reinsurancebusinesses內部對銷Total人壽保險財產保險財產保險再保險其他業務及調整總額$’000$’000$’000$’000$’000$’000$’000千元千元千元千元千元千元千元Insurancerevenue保險服務收入32,470,52916,663,1422,814,3004,333,418–(406,666)55,874,723InsuranceserviceexpensesNetexpensesfromreinsurancecontractsheld保險服務費用持有的再保險合同淨費用(21,878,978)(278,546)(15,738,024)(425,147)(1,810,768)(619,841)(3,868,755)(320,535)––148,138167,048(43,148,387)(1,477,021)Insuranceserviceresults保險服務業績10,313,005499,971383,691144,128–(91,480)11,249,315Interestrevenue利息收益17,526,001414,021203,778833,447347,837344,71319,669,797OtherinvestmentreturnNetimpairmentlossesonfinancialassets其他投資回報金融資產減值淨額17,503,530(957,569)34,214(167)19,196(4,529)142,553(258,455)168,831(4,529)(212,228)1,27617,656,096(1,223,973)Shareofresultsofassociatesandjointventures應佔聯營公司及合營公司業績1,026,205(21,680)––8,408127,1201,140,053InvestmentreturnFinanceexpensefrominsurancecontractsissued投資回報承保財務費用35,098,167(28,911,413)426,388(385,499)218,445(142,644)717,545(458,500)520,547–260,88125,41337,241,973(29,872,643)Financeincomefromreinsurancecontractsheld分出再保險財務收益42,20558,44262,02135,898–(28,890)169,676Netchangesininvestmentcontractliabilities投資合約負債變動淨額(69,481)––33,853––(35,628)Netinvestmentresults淨投資業績6,159,47899,331137,822328,796520,547257,4047,503,378Otherincome其他收益469,54040,97956,001165,6324,444,311(2,220,880)2,955,583Otheroperatingexpenses其他行政費用(1,603,199)(126,355)(209,87