Gelonghui May 20 | China Taiping (00966.HK) announced that on May 20, 2024, the company, Longbi, Fujie and Taiping Pension entered into a capital increase agreement. According to the capital increase agreement, Fujie agreed to conditionally subscribe, while Taiping Pension agreed to conditionally issue subscription shares equivalent to about 10% of the issued share capital after the expansion of Taiping Pension, at a price of RMB 1,075 billion. After the capital increase was completed, about 90% of Taiping Pension's issued share capital expanded through this capital increase was held by the company, and about 10% was held by Fujie. Taiping Pension will be a non-wholly-owned subsidiary of the company.

According to the shareholders' agreement, at any time from the date of signing the shareholders' agreement to the 3rd anniversary date of delivery, Fujie has the right to choose to subscribe or nominate one or more of its law-compliant subsidiaries to subscribe for a certain amount of shares to be issued by Taiping Pension by exercising power once or in multiple installments at any time, thus increasing the shareholding ratio of Fujie and its subsidiaries to a maximum of 24.99% (inclusive).