OCI's stock assets significantly increased, and the investment performance of listed insurance companies in the 2025 annual report was "hidden".

On March 31, Sina Finance reported that investments are the "decisive factor" determining the success or failure of insurance companies' performance. Benefiting from the recovery of the capital market, the overall performance of listed insurance companies in 2025 is expected to see a significant increase. For example, the total net profit attributable to shareholders of the five largest listed insurance companies on the A-share market is estimated to be around 425.3 billion yuan, an increase of over 20% compared to the previous year. However, solely looking at net profit performance cannot fully reveal the hidden stock investment performance of listed insurance companies. This is because insurance companies typically categorize their stock assets into two types: FVOCI assets, where gains and losses are not included in profits; and FVTPL assets, where gains and losses are included in profits. Industry experts believe that in 2025, listed insurance companies generally increased their allocation of OCI stocks, represented by high dividends, and achieved overall floating profits. The floating profits from OCI stocks serve as a "performance reserve pool," supporting the future operating and dividend capabilities of insurance companies. However, the conversion of OCI stocks to TPL stocks could be a double-edged sword: if there are floating profits, the conversion of OCI stocks will increase current profits; conversely, if there are floating losses, the conversion of OCI stocks will decrease current profits.