barxsafecrackermegaways| Taiping Pension introduces new foreign shareholder Fujie plans to win 10% equity for 1.075 billion yuan

Financial front-line news on May 21, China Taiping Insurance Holdings Co., Ltd.(China Taiping, 0966barxsafecrackermegaways.HK) issued an announcement yesterday saying that the company's Taiping Pension Group had previously introduced external investors to increase capital through public listing, providing customers with life insurance and non-life insurance products in European and Asian marketsbarxsafecrackermegawaysBelgium Fujie International Co., Ltd.(hereinafter referred to as Fujie), a wholly-owned subsidiary of Ageas SA/NV, has been confirmed by the Shanghai Equity Exchange as the only qualified bidder in accordance with the public listing rules and regulations.

According to the announcement, Fujie Group plans to increase capital to Taiping Pension by 1.075 billion yuan. After the capital increase is completed, Fujie Group will hold 10% of Taiping Pension. China Taiping's shareholding ratio will be reduced from 100% to 90%.

At the same time, according to the shareholders 'agreement, Fujie Group and its subsidiaries can increase their holdings of Taiping Pension to a maximum of 24.99% at any time between the signing date of the shareholders' agreement and the third anniversary of the settlement date.

China Taiping said in the announcement that Taiping Pension's introduction of Fujie as an investor will help replenish its capital, provide capital guarantee for expanding its pension insurance business, and support business development.