① Lekai Film plans to clear and transfer 22 million shares of Huatai Insurance, with a reserve price of about 270 million yuan. ② In less than a month, at least 3 state-owned shareholders plan to clear Huatai Insurance shares. The unit price of the listed shares varies.
Financial News Agency, December 18 (Reporter Zou Juntao) On December 18, the Beijing Property Exchange website showed that Huatai Insurance Group Co., Ltd. (Huatai Insurance for short) has listed and transferred 22 million shares (0.5470% of the total share capital) starting today. The transfer reserve price is 269.449 million yuan, or about 270 million yuan.
Screenshot of the listing information of the Beijing Property Exchange
A reporter from the Financial Association News Agency noticed that recently Huatai Insurance shareholders have transferred shares quite frequently. There have been at least 3 similar share listing and transfer cases in less than a month, and all of them are state-owned shareholders. Judging from the share share ratio, the equity listing transfer parties mentioned above are all small shareholders of Huatai Insurance. Judging from the scale of the shares transferred, they are all “clearance style” transfers.
Lekai Film was listed to clear the stock and transferred Huatai Insurance's shares
According to information, the transferor of Huatai Insurance's 22 million shares this time is Lekai Film Co., Ltd. (Lekai Film for short). According to Tianyan Research, Lekai Film was founded in 1998, and its main business scope is color photo paper, photosensitive materials, etc., and the actual controller of the company is the central enterprise China Aerospace Science and Technology Group.
According to listing information, the transfer of 0.547% of Huatai Insurance's shares was approved by the board of directors of China Aerospace Science and Technology Corporation on November 17 this year.
It is worth noting that according to the equity structure of the underlying enterprise, Lekai Film currently holds 0.547% of Huatai Insurance's shares, which is consistent with the share of the total share capital of the current listing and transfer of shares. If this equity listing transfer is successful, Lekai Film will withdraw from the list of shareholders of Huatai Insurance.
Screenshot of the listing information of the Beijing Property Exchange
Lekai Film requires that the intended transferee should be a corporate legal person or unincorporated organization established in accordance with law and effectively surviving. In addition, the intended transferee must pay a transaction security deposit of RMB 808.34,700 to the designated account of the Beijing Stock Exchange within 3 working days after the eligibility for transfer is confirmed.
According to Huatai Insurance's official website, Huatai Insurance is the first Chinese insurance company in China to officially introduce foreign-funded shares. Ada Co., Ltd. holds a total of 72.0913% of Huatai Insurance's shares through its four holding subsidiaries. According to Chubb's official website, Chubb Insurance is one of the world's largest listed property and liability insurance companies by market capitalization, and is also one of the largest commercial insurance companies in the US.
On October 13 of this year, Huatai Insurance issued an announcement that Anda Co., Ltd. became the actual controller of Huatai Insurance.
At least 3 state-owned shareholders plan to withdraw from the ranks of shareholders in the near future
In addition to Le Kai Film, the Finance Association reporter noticed that there have been many recent incidents where state-owned shareholders have transferred shares in Huatai Insurance.
On December 11, Dongfeng Asset Management Co., Ltd. (Dongfeng Asset for short), a wholly-owned subsidiary of the central enterprise Dongfeng Motor Group, listed and transferred 6.6 million shares of Huatai Insurance in the Guangdong Joint Property Exchange Center, accounting for 0.1641% of the total share capital. The listing period is from December 11, 2023 to January 8, 2024.
Furthermore, on November 23, Northeast Light Alloy Co., Ltd. (Northeast Light Alloy for short), a subsidiary of the state-owned China Aluminum Group, also listed and transferred 6.6 million shares of Huatai Insurance on the Beijing Equity Exchange, accounting for 0.1641% of the total share capital. The listing period is from November 23 to December 20, 2023.
Judging from the disclosure of listing information, the ratio between Dongfeng Asset and Northeast Light Alloy to transfer Huatai Insurance's property (shares) is also consistent with their share of shares (assets) holdings, and both parties should also transfer shares for clearance purposes.
Furthermore, the Finance Association reporter noticed that Dongfeng Asset and Northeast Light Alloy are planning to transfer the same share of Huatai Insurance's shares, but the listing transfer price is different. According to the respective listing information, the reserve price for the 6.6 million shares of Dongfeng Asset is 79.1947 million yuan, and the reserve price for the 6.6 million shares of Northeast Light Alloy is 65.2 million yuan. The calculated valuation of each share is lower than the current listing and transfer price of Lekai Film.