Chow Tai Fook Life Insurance Company achieves strong growth, "Ingenuity • Inheritance" Plan 2 leads the new trend of wealth management

Rooted in Hong Kong for nearly 40 years, the well-known life insurance company Chow Tai Fook Life Insurance achieved impressive performance in the 2024 fiscal year ending in June, with a significant year-on-year increase of 54% in attributable operating profit, reaching HKD 965 million; in the second half of the year, it launched the brand new "Ingenuity • Heritage" savings life insurance plan, continuing to create new insurance value for customers. Impressive Full-Year Performance New Creation Group (Hong Kong stock code: 659) is the parent company of Chow Tai Fook Life Insurance, with diversified business operations and strong financial strength, providing strong support for the development and business expansion of Chow Tai Fook Life Insurance. For the fiscal year ending on June 30, 2024, New Creation Group's overall attributable operating profit increased by 21% to approximately HKD 4.2 billion, with shareholders' attributable profit increasing significantly by 44% to around HKD 2.1 billion. The group's total usable liquid funds at the end of the period exceeded HKD 26 billion, reflecting ample liquidity. As a wholly-owned subsidiary of New Creation Group under Chow Tai Fook Group, the outstanding performance of Chow Tai Fook Life Insurance also brought substantial contributions to the parent company. In the 2024 fiscal year, the insurance business contributed 13.07% of the income to New Creation Group, while the attributable operating profit ratio reached 23.15%. With attractive products, Chow Tai Fook Life Insurance actively seized the opportunity of the release of demand from mainland tourists after the border reopening. The total annualized premium continued to grow strongly by 77% year-on-year, reaching HKD 4.549 billion. The new business value grew significantly by 37% year-on-year to HKD 1.23 billion, consolidating long-term value. In the first six months of 2024, Chow Tai Fook Life Insurance's annualized premium performance ranked 10th among life insurance companies in Hong Kong, maintaining its advantage. While experiencing strong business growth, Chow Tai Fook Life Insurance maintained a stable financial condition, with a solvency adequacy ratio of 337% as of June 30, 2024, far exceeding the industry regulatory minimum requirement of 150%. Even based on the Hong Kong Risk-Based Capital regime effective from July 1, 2024, Chow Tai Fook Life Insurance's solvency adequacy ratio as of June 30, 2024, also reached 289%, well above the industry regulatory minimum requirement of 100%. Moody's maintained Chow Tai Fook Life Insurance's insurance company financial strength rating at "A3/Stable," while Fitch also rated it as "A-" with a stable outlook. However, Chow Tai Fook Life Insurance is clearly not stopping there but continuously adjusting its strategies and products to meet customers' various financial needs. With its superior product and service strength, it will introduce more competitive new products, leveraging the strong resources of the Cheng family's diversified business system to further consolidate its advantages and stand out in the ever-changing competitive environment. The continuous improvement in Chow Tai Fook Life Insurance's market ranking reflects its remarkable achievements. New Products Boost Customers' Health and Wealth Chow Tai Fook Life Insurance recently launched the brand new "Ingenuity • Heritage" savings life insurance plan 2, offering faster and higher expected returns, greater autonomy, and greater inheritance advantages. Customers can strategize from wealth appreciation to asset allocation The characteristics of this plan include: The market's pioneering "Wealth Leap Options" allow customers to reorganize the components of the policy amount to enhance expected returns. "Wealth Appreciation Allocation Options": Ingeniously designed "Enhancement," "Balanced," and "Conservative" allocation options, allowing customers to flexibly select the value ratio of the "Stable Asset Account" to meet the needs of different life stages. Free conversion of policy currency to flexibly match customers' global asset allocation. "Policy Splitting Option," where one becomes two, then two becomes four, and so on, helping customers easily achieve independent asset planning. Policy dual inheritance plan, which not only allows changes to the insured person but also allows for the designation of 2 beneficiaries for estate planning, continuing the policy for wealth to be passed down through generations. Premium holiday of up to four years, deferring premium payments to handle unexpected events or short-term needs flexibly, without worrying about the policy lapsing in real-time and losing the original protection. Integration of resources with CHOW TAI FOOK Group, creating new value in insurance CHOW TAI FOOK Life Insurance is a wholly-owned subsidiary of the newly established group, which was officially renamed and launched a brand new image in July this year, further demonstrating its close connection with CHOW TAI FOOK Group. In addition to the newly established group, CHOW TAI FOOK Enterprises and CHOW TAI FOOK Jewelry are also well-known flagship enterprises within the Cheng's family, with businesses covering various industries at home and abroad, including jewelry, real estate, infrastructure, healthcare, education, media, energy, finance, and retail. CHOW TAI FOOK Life Insurance, as an important part of its financial business, can connect with the regional resources and extensive business resources of CHOW TAI FOOK Group, closely aligning with its diversified business system's abundant resources to achieve business expansion and synergy, continuously creating new value in insurance