Economic And Market ConditionsSlower China GDP growth, policy risk, and worsening equity market performance are contributing to financial challenges.
Financial Performance1H24 net profit declined by 75% to RMB55mn, missing expectations, mainly stemming from health insurance, where both combined ratio (COR) and premium growth missed.
Market CompetitionSubstantial slowdown in gross written premium growth, rising competition from internet giants and traditional insurers.