A：The company reported GWP and FYP facilitated on their platform reaching record highs of RMB 7.4 billion and RMB 4.6 billion, respectively, with year-over-year surges of 21% and 25%. Total revenue for the year was RMB 1.6 billion, marking a 27% growth from the previous year. Non-GAAP net profit stood at RMB 202 million.

A：In 2025, the company added approximately 1.7 million new customers, bringing the total to over 12 million by year-end. The average age of long-term policyholders was 35.3 years, reflecting a focus on high-quality demographic segments.

A：The company launched dajia hui-an 2.0, a retirement planning product, and two customized million-yuan medical insurance products, X Xiangxi 2.0 and Xi-Xia 3.0, which have features like 20-year guaranteed renewal and simplified underwriting. These achievements helped to enhance the company's competitiveness in the medical insurance segment.

A：AI solutions were deployed across the insurance service value chain, significantly improving the efficiency ratio by 5.9 percentage points year over year to 26.3%. This improvement was a key factor in achieving full-year profitability. AI solutions also supported the customer journey, leading to a 50% year-over-year increase in AI-driven service policy purchases and the capability of the AI systems to independently complete sales conversion.

A：In Singapore, the company obtained a financial advisor and exam insurance license, establishing a local presence. The business expanded its proprietary solutions to cater to the demand for differentiated insurance experiences. In Hong Kong, revenue grew more than 200% year over year, driven by the robust demand for the company's differentiated products. In Vietnam, the GSA business line showed a standout performance with platform users tripling and premiums growing more than threefold year over year.

A：The company's upcoming strategic priorities include deploying AI products to improve service quality and user experience, focusing on product innovation in core growth areas with tailored products for specific customer segments, and accelerating international expansion through partnerships, with a goal of increasing the proportion of overseas revenue contribution for sustainable long-term value.

A：The company has leveraged the national strategic guidance to build a multi-tiered health care protection system and introduced Lin Yan Medical Insurance products to meet the long-term comprehensive health protection needs of mid to high-income families, using their established distribution network and advanced AI solutions.

A：The company's AI strategy has led to an increase of 44% in FYP from the IFA business to RMB 215 million in the second half of 2025, and an increase of 12% year over year in FYP from short-term health and accident insurance to RMB 613 million. Additionally, AI solutions have been implemented to enhance internal operational efficiency, improve customer experience, and drive platform transformation.

A：AI-driven self-advising policy purchases grew by 50% year over year in 2025. The company's international arm, in Vietnam, delivered another strong performance with the number of insurance policies issued increasing by 31% year over year, and a surge of 106% and 84% year over year growth in GWP and revenue respectively. The IFA presence in Vietnam had active platform users quadrupling and policies issued increasing 2.3 fold year over year.

A：The approval from the MAS to operate as a financial advisory and ex insurance broker in Singapore is a significant milestone in the company's regional expansion, reinforcing its dual regional hub strategy across Singapore and Hong Kong and positioning it to attract cross-border assets and deliver premier production and wealth management solutions to consumers across Asia.

A：The company has discussed the regulatory cap on referral fees and commission spreading that has been in effect since the beginning of the year in relation to the Hong Kong market.

A：The company expects AI to have a positive effect on improving gross margins in the brokerage business in Hong Kong. While the gross margin has decreased due to the increase in international revenue, which has a lower margin compared to domestic revenue, the deployment of AI has led to cost savings and efficiency improvements. The company anticipates that as AI continues to be deployed, especially in customer acquisition and lead generation, there could be a significant re-rating or upgrade of the growth margin.

A：The company has noted positive results from the deployment of AI in the business, such as a 50% over-year increase in self-service policy purchases by customers and the ability of AI systems to independently complete sales conversions, generating millions of RMB in premiums through AI engines. The company is continuing to work towards scaling revenue generation without the need for human interaction in the entire customer acquisition and conversion process.

A：The company's stock price may not be reflecting its fundamentals due to a shift in the reporting schedule to a half-yearly basis since the second half of last year. This change may have caused market concerns about the company's continued sustainable growth and performance. However, the company has demonstrated strong growth in both top-line premium and bottom-line profitability. With advances in AI and strong investment in proprietary AI-related products across the business value chain, the company is expected to deliver robust growth momentum in 2026, which could re-rate the share price and drive it closer to intrinsic value.