The registered capital increased to 3 billion yuan, and China -South Korea Life Insurance was approved

Recently, Zhejiang Oriental (600120.SH) issued an announcement of the approval of its subsidiaries China -Korea Life Insurance Co., Ltd. (hereinafter referred to as China and South Korea Life Insurance).

Zhejiang Oriental said that after the completion of the capital increase, China and South Korea Life's registered capital will increase from 1.5 billion yuan to RMB 3.012 billion.

Among them, the newly added registered capital (RMB, the same below) of the newly added registered capital by Zhejiang Oriental, and subscribed by Zhejiang Changxing Financial Holding Group Co., Ltd. (hereinafter referred to as "Changxing Financial Holdings"). The company (hereinafter referred to as "Wenzhou Guojin") subscribed for 166 million yuan, subscribed by Wenzhou Electric Power Investment Co., Ltd. (hereinafter referred to as "Wenzhou Power"). "Wenzhou Jianfa") subscribed for 165 million yuan for new registered capital, and was subscribed by Guotai Junan Saiyu Investment Co., Ltd. (hereinafter referred to as "Zhengyu Investment") of RMB 149 million.

Zhejiang Oriental stated that after increasing the registered capital and shareholders, China and South Korea ’s life -sharing structure will be changed to: the company holds 33.33%, Hanhua Life Insurance Co., Ltd. holds 24.99%, Changxingjin holds 20.23%, Wenzhou Guojin holds 5.52 holdings of 5.52 %, Wenzhou Electric Power holds 5.49%, Wenzhou pays 5.49%, and Zeyu Investment holds 4.95%.

(Zhejiang Oriental)

According to Zhejiang Oriental announced earlier, the China -Korea Life Increase Project was listed on the Zhejiang Property Rights Exchange on April 12, 2021. 100 million yuan. After extensive solicitation, the five interested investors completed the delisting on the Zhejiang Property Exchange on March 18, 2022, completed a competitive negotiations on March 23, 2022, and signed the capital increase agreement on March 24, 2022.

At the same time, on the impact of China -South Korea Life's capital increase, Zhejiang Dongfang believes that the increasing capital increase is conducive to the joint implementation of the Yangtze River Delta integrated national strategy. , Deepen the digital reform in the insurance field, focus on serving the real economy and ensuring people's livelihood, innovate products and services, give full play to the role of insurance "stabilizers", and create a common wealth demonstration sample for insurance services.

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