China Pacific Insurance Group Co Ltd Q4 2024 Earnings Call (Chinese, English) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Zhao Liang - Morgan Stanley - Analyst : I have two questions, number one, about the overall level. Now you mentioned a lot on the five priorities. Now could you give me more details on your specific plans? And the second question on the investment side, especially equity side, I mean, high dividend stock strategy. Now what's your plan for this year, for the future? For example, the Hong Kong stocks, so are you going to -- well, further enhance your investment in Hong Kong stocks or stocks in Hong Kong? Unidentified Company Representative Now let me answer your first question, starting from 2024. We focused on the five priorities. Well, proactively responded to national policies, guidelines so as to better serve national strategy, to better serve the real economy and the people's well-being. On the whole, I would say, we have already established relevant mechanisms and come up with some innovative models and actually rolled out specific projects. At the same time, these also supported our business growth. In terms of technology finance, we actually have set up specific departments in places where there's a lot of tech companies. For example, in specific areas like cybersecurity, new materials, we have achieved breakthroughs. And we also pushed forward this kind of insurance plus risk mitigation model. Our overall investment in technology finance amounted to CNY100 billion. In terms of Green Insurance, we focused on areas, for example, clean energy, environment, governance, ecocarbon and green supply chain. We have rolled out seven industry-first products. We also improved our Green Investment System and further explored the possibility to include