The announcement of Chengtai Insurance shows that in order to expand the company’s capital strength and provide adequate capital support for future business development, it also introduces strategic investors to further improve the corporate governance mechanism and promote the company into a fast, healthy and sustainable development track. On June 4 of this year, the company convened the “Proposal on Increasing Registered Capital” adopted by the second extraordinary general meeting of 2018, and plans to direct Ziguang Group to issue additional shares of 2 billion shares at a price of 1.44 yuan per share, with a total capital of 2.88 billion yuan. In this capital increase, the company intends to increase capital by agreement. The number of shares in Chengtai P&C Insurance will increase from the current 4 billion shares to 6 billion shares, and the registered capital will increase from 4 billion yuan to 6 billion yuan. The original shareholders of Chengtai Insurance will give up the preferential subscription rights. Did not subscribe for new shares.
According to public information, Ziguang Group is the largest integrated circuit company in China and the third largest mobile phone chip company in the world. For insurance licenses, Ziguang Group is enthusiastic. In March 2017, the China Insurance Association official website pre-arranged insurance companies to be established. According to the disclosure, the first largest shareholder of China Youth Life Insurance to be established is Ziguang Group, holding 20% of the shares. However, under the circumstances that the approval of insurance licenses became stricter, China Youth Life Insurance did not approve the following. For this investment, Chengtai P&C Insurance, Ziguang Group stated: 'The company strictly follows state laws and regulations and relevant regulatory requirements to invest in Chengtai P&C insurance funds, which is derived from legitimate own funds. It does not use any form of financial institution loans or other financing channels.'
Beijing Business Daily reporter noted that if the capital increase is approved by the China Banking Regulatory Commission, the shareholding of Chengtai Insurance will change, and the number of shareholders will be changed from the current 11 to 12. Specifically, Ziguang Group’s shareholding ratio will reach 33.33%. Securing the position of the largest shareholder. The remaining shareholder equity will be diluted accordingly. The 11 shareholders are Yunnan Provincial Urban Construction Investment Group, Kunming Industrial Development Investment, Kunming Development Investment Group, Kunming State-owned Assets Management Operation, and Kunming Transportation Investment. , Yunnan Metallurgical Group, Yunnan World Expo Travel Holding Group, Yunnan Airport Group, Yunnan Industrial Investment Holding Group, Dalian Century Mall, Yunnan Yuheng Investment Development, shareholdings were changed to 13.33%, 13.33%, 13.33%, 8.67%, 4.67% , 3.17%, 3.17%, 2.00%, 1.67%, 1.67%, 1.67%.
It is worth noting that the shareholding of Chengtai P&C Insurance has been transferred frequently since last year, and the three founding shareholders of 'Exiting' are all state-owned companies in Yunnan Province. In March 2017, Chengtai P&C Insurance Co., Ltd. held by Yuntianhua Group first took up the More than 2.5% of the 100 million shares were transferred by Dalian Century Mall Co., Ltd.. Subsequently, Yunnan Industrial Investment Holding Group also wanted to transfer 100 million shares of Chengtai Insurance which accounted for 2.5%. However, the latter did not The transfer was successful and is still being listed on the Yunnan Property Rights Exchange. In early June of this year, the Yunnan World Tourism Tourism Holding Group under the Yunnan State-owned Assets Supervision and Administration Commission listed 190 million shares in the Chongqing Property Exchange at a listed price of 270 million yuan. Taifu Insurance's equity ratio is 4.75%. It is still listed for buyers.