财联社记者注意到，上月中旬，中国电信旗下公司天翼电子商务有限公司（天翼支付）正式公开挂牌转让甜橙保险代理有限公司100%股权，转让底价为7,770万元，信息披露结束日期为2025年1年6日。① 100% of ZTO SUNSHINE INS brokerage equity is being transferred for listing by CHINACOMSERVICE in Hunan, with a minimum transfer price of 137.23 million yuan; ② Tianyi E-Commerce Co., Ltd. is also listing for the transfer of 100% equity of Sweet Orange Insurance Agency; ③ CHINA TELECOM is continuously transferring insurance licenses while intensively "clearing out" equities from multiple Financial Institutions such as Banks and microloans.
On December 30, the Financial Association reported (journalist Zou Juntao) that the latest market information shows that a subsidiary of CHINA TELECOM is continuously transferring insurance licenses.
On December 30, the Guangdong United Property Rights Trading Center indicated that 100% of ZTO SUNSHINE INS brokerage Co., Ltd. (hereinafter referred to as "ZTO SUNSHINE INS brokerage") is publicly listed for transfer starting today, with the transferor being Hunan Province Communication Industry Service Co., Ltd. (hereinafter referred to as "CHINACOMSERVICE in Hunan"). The minimum transfer price is 137.23 million RMB (the same below), and the information disclosure deadline is January 26, 2025.
The Financial Association reporter noticed that in mid-last month, a subsidiary of CHINA TELECOM, Tianyi E-Commerce Co., Ltd. (Tianyi Payment), officially listed for the transfer of 100% equity of Sweet Orange Insurance Agency, with a minimum transfer price of 77.7 million yuan, and the information disclosure deadline is January 6, 2025.
According to incomplete Statistics, currently there are two insurance licenses under CHINA TELECOM that are being listed for transfer.
A subsidiary of CHINA TELECOM plans to transfer more insurance licenses.
ZTO SUNSHINE INS brokerage was established in July 2003 and is a wholly-owned subsidiary of CHINACOMSERVICE in Hunan, with a registered capital of 50 million yuan. The actual investing enterprise or competent department is China Telecom Group Co., Ltd.
The transferor CHINACOMSERVICE in Hunan is a wholly-owned subsidiary of CHINA TELECOM SERVICE Co., Ltd. (hereinafter referred to as "CHINA TELECOM SERVICE", Hong Kong Stock Code 00552.HK) established in Hunan, with a registered capital of 0.886 billion yuan. According to Tianyancha data, China Telecom Group Co., Ltd. is the largest shareholder of CHINA TELECOM SERVICE, holding nearly 49% of its common stock.
In addition, according to the listing announcement on October 25 this year, CHINACOMSERVICE approved the public transfer of equity in Zhongtong SUNSHINE INS Brokerage Co., Ltd.
Zhongtong SUNSHINE INS Brokerage mainly engages in Insurance brokerage business and risk consulting services; however, the business mainly comes from the telecommunications industry, with clients primarily being related parties and upstream and downstream of related parties. The listing announcement reminds that this equity transfer may affect Zhongtong SUNSHINE INS Brokerage Co., Ltd.'s existing related-party business and business related to related parties, and interested transferees should pay attention.
The latest financial indicators show that in the first 11 months of 2024, Zhongtong SUNSHINE INS Brokerage achieved revenue of 45 million yuan and net income of 5.1047 million yuan; as of November 30, 2024, the company's total assets amounted to 0.104 billion yuan and total liabilities reached 47.4114 million yuan.
Intensive clearance of equity in Financial Institutions within the year may be due to the 'Return of Funds Order.'
In addition to the consecutive listing of Insurance license transfers mentioned above, CHINA TELECOM and its subsidiaries have been intensively clearing multiple equity stakes in Financial Institutions this year.
Market information shows that Tianyi E-Commerce Co., Ltd. is currently listing 41.1765% equity of Chongqing Zhong'an Microfinance Co., Ltd. for transfer, with a transfer base price of 0.486 billion yuan; and is also listing 100% equity of Tianjin Tianyi Financing Guarantee Co., Ltd. for transfer, with a base price of 0.375 billion yuan.
At the same time, CHINA TELECOM is listing 24.6 million shares (0.51% of total shares) of Hankou Bank Co., Ltd. for transfer this year, with a base price of 0.104 billion yuan; and is also listing 0.021% equity of China UnionPay Co., Ltd. for transfer, with a base price of 36.3 million yuan. Among them, the equity transfer of China UnionPay has been terminated due to the inability to gather interested transferees.
Industry experts believe that the intensive handling of Financial Institutions' equity by central state-owned enterprises this year may be related to the requirements of 'focusing on main business' as well as the latest 'Return of Funds Order.' It is understood that in May this year, the 'Regulations on Preventing and Mitigating Financial Risk Accountability (Trial)' were issued, requiring that central enterprises shall not, in principle, newly establish, acquire, or become shareholders in various Financial Institutions and shall not, in principle, hold shares or increase holdings in Financial Institutions with little effect on main business or significant risk spillover.
The Financial Link News reporter noticed that as the end of the year approaches, the listing of equity transfer of financial institutions by central state-owned enterprises has reached a small peak. According to incomplete statistics, since mid-month, at least 6 insurance companies' equities have been listed for transfer, including Jiangtai Insurance Brokerage, Guoren Insurance, Yongcheng Insurance, and Bank of China Samsung Life Insurance, among others.
