Reduce holdings of Xinhua Insurance H shares of 26.15 million shares of "Fosun" shares to hold below 5%

On the evening of September 19th, Xinhua Insurance (HK01336, HK $ 16.18, and HK $ 50.47 billion in market value) issued an announcement saying that Fosun International Co., Ltd. (hereinafter referred to as "Fosun International") reduced its holdings of 26.1595 million shares on September 15 Stocks account for about 0.84%of the total share capital. After the reduction of holdings in this round, Fosun International and its consistent actors' total shareholding ratio fell to 4.9999%, less than 5%.

Before the change of equity, Fosun International and its consistent actors held a total of 182 million shares in the company, accounting for about 5.8386%of the total number of issued shares issued by the company.

Xinhua Insurance said that the change in this rights and interests did not cause the company's controlling shareholder or actual controller to change.

The reporter noticed that since the beginning of this year, the "Fosun" has reduced its holdings frequently. After selling the shares of listed companies such as Taihe Technology, Tsingtao Beer, and Yuyuan Co., Ltd. in succession, it has recently thrown out plans to reduce the holding of Fosun Pharmaceutical and Golden Basels. Essence

It is worth mentioning that in the Hong Kong stock market, as of September 20, Xinhua Insurance's stock price closed at HK $ 16.18/share, an increase of 1.63%. On the first day, its stock price set a recent low in the market.

The shareholding ratio drops to less than 5%

The Xinhua Insurance Announcement shows that the company has recently received the "Notification Letter on Reducing the Holding Holding Holding Holding Holding Holding Xinhua Life Insurance Co., Ltd." and "Report of the Simple Rights and Interests" issued by the shareholders Fosun International and its consistent actions.

Specifically, on September 15, 2022, Fosun International reduced its holdings of 26.1595 million H -shares through the transaction method, accounting for about 0.8386%of Xinhua Insurance's total shares.

Its reduction leads to Fosun International and its consistent actors (Shanghai Fosun High Technology (Group) Co., Ltd., Fidelidade-Companhia de Seguros, S.A, Peak Reinsurance Company Limited The proportion of Xinhua Insurance shares decreased to about 4.9999%, and the shareholding ratio was less than 5%.

Xinhua Insurance said that before the change of equity, Fosun International and its consistent actors held a total of 182 million shares in the company, accounting for about 5.8386%of the total number of shares issued by the company. At the time of this announcement, Fosun International and its consistent actors held a total of 156 million shares in the company, accounting for about 4.9999%of the total number of shares issued by the company, and no longer shareholders holding more than 5%of the company.

According to the report of the equity changes disclosed by Xinhua Insurance, the obligor of the information disclosure is Fosun International and its consistent actors. It is reported that this is a normal retreat arrangement and reduced its holdings. The information disclosure obligations do not rule out that in the next 12 months, the possibility of possessing Xinhua Insurance H shares is adjusted in accordance with the overall status of the securities market and the development of Xinhua Insurance and its stock price. As of the date of the signing of this report, the information disclosure obligor plans to hold or decrease on Xinhua Insurance's A shares without shares in the next 12 months.

Coincidentally, Yuyuan Co., Ltd. (SH600655, stock price of 6.97 yuan, and a market value of 27.12 billion yuan) also issued an announcement on the same day. The controlling shareholder Shanghai Fosun High Technology (Group) Co., Ltd. reduced its holdings from August 26th to September 19th. Thousands of shares, accounting for 1%of the total share capital, reduced holdings of nearly 300 million yuan. After this reduction, Fosun Hi -Tech and its consistent actors' total shareholding fell to 67.46%.

"Daily Economic News" reporter noticed that since this year, Fosun has been frequently reduced. After selling listed companies such as Taihe Technology, Tsingtao Beer, Yuyuan Co., Ltd. and other listed companies in succession, recently throwing up Fosun Pharmaceutical and Golden Essence Plan for wine.

Persist in the financial strategy of retreating balance

The Fosuna has noticed the impact of densely reduction on the capital market. According to the Securities Times, on September 19, Fosun Hi -Tech issued a statement saying that the company's recent reduction and sale were the continuation of the financial strategy that insisted on investing and balance. Dynamic sorting and optimizing the asset portfolio was a persistent job, not just to cope The current market environment is for it. The complex external environment has increased the attention of public opinion to the company's asset disposal, leading to one -sided interpretation of individual asset disposal behaviors, and ignoring the company's asset optimization principle, that is, long -term dynamic optimization.

It is worth mentioning that the reduction of the Portwear not only stays in the capital market. Of the four Founder Company, the three of them planned to pay the equity of Qing Yongan's property insurance.

According to the announcement of Yongan Property & Casualty Insurance in early September, Shaanxi Financial Investment Management Co., Ltd. intends to transfer the three Fosuna Company's Yongan Property & Casualty Insurance shares, with a total share ratio of 22%, namely: Yadongshan Control Entrepreneurship Investment Co., Ltd. Holding 596.6666 million shares (stock ratio 19.83%) shares, 27.5381 million shares (share ratio) shares held by Yadongyi Hang Entrepreneurship Investment Co., Ltd., 376.6742 million shares held by Shanghai Fosun Industrial Investment Co., Ltd. ( Stock ratio 1.25%) shares.

At the same time, Shaanxi Credit Promotion Co., Ltd. intends to transfer 75.3258 million shares of Yongan Property & Casualty Insurance (2.50%) held by Shanghai Fosun Industrial Investment Co., Ltd., and 450.4406 million held by Shanghai Fosun Industrial Technology Development Co., Ltd. The shares Yongan Property & Casualty Insurance shares (stock ratio is 1.50%).

The above -mentioned change of shareholders is approved by the Shaanxi Banking Regulatory Bureau.If they are approved, the three of the four companies of Fosun will withdraw from the sequence of Yongan Property & Casualty Insurance shareholders, and only one of Shanghai Fosun Industry will hold Yongan Property & Casualty Insurance equity.The number of shares of the Fortuka for Yongan Property & Casualty Insurance will be reduced from 1.224 billion to 442 million shares, and the shareholding ratio will be reduced from 40.68%to 14.68%.Regarding the reduction of holdings, at that time, Fosun Group told reporters that the project belongs to the company's normal business behavior and is currently under supervision and approval. For details, please refer to the company's announcement.

Daily Economic News

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