On June 13th, GeLongHui reported that Huaxi Securities pointed out in a recent research report that the People's Insurance, with a strong state-owned background and absolute control by the Ministry of Finance, has stable dividends. Under the expectation of stabilizing investment on the investment side, it has a large potential for value growth due to steady profitability in the property insurance business and the initial effects of high-quality transformation in the life insurance business. It is first covered and given a "buy" rating. The company's weighted ROE is basically stable at around 10%. The company values reasonable investment returns for investors in profit distribution and has maintained a high dividend rate in the past five years. Overall, the premium scale and profitability of PICC Property and Casualty Insurance, the People's Insurance's property insurance business, are leading in the industry. Non-auto insurance will achieve underwriting profits in 2023, driving the total underwriting profits of property insurance far higher than other insurance companies.