CITIC Securities: The performance of the insurance sector in the first half of the year has significantly diverged, and it is expected that there will be negative profit growth pressure in the second half of the year.

CITIC Securities' research report states that the performance of the insurance sector in the first half of the year showed significant differentiation. In the second half of the year, overall profits are expected to face negative growth pressure. The investment strategy will focus on dividend advantage sectors. The industry's long-term upward trend remains unchanged, with a focus on the resource advantages and service capabilities of leading companies, which will become core competitive strengths in the future. Attention will be paid to the local pilot implementation and nationwide execution of synergy policies between commercial insurance and medical insurance, which is expected to drive continuous growth in health insurance.