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Source: China Fund Daily
China Fund News Jiangyou
Great Wall Life, with total assets of more than 100 billion yuan, listed two A-share companies.
After the close on May 17, Jiangnan Water and Chengfa Environment disclosed one after another that Great Wall Life had increased its stake in the company to 5% of the "signage" line.
The two companies are long-term investments based on the allocation needs of insurance companies and the allocation value of listed companies, and the funds come from their own funds, Great Wall Life said. And do not rule out the next 12 months to continue to increase holdings.
Two A-shares at a time
Continue to buy for 5 consecutive months!
According to the simplified equity change report issued by Jiangnan Water Affairs, before this equity change, Great Wall Life Insurance Co., Ltd. held 46425700 RMB ordinary shares of Jiangnan Water, accounting for 4% of the total share capital of Jiangnan Water.Extrajuicyslot.9642%. After this change of rights and interests, Great Wall Life Insurance Co., Ltd. holds 46761700 shares of listed companies, accounting for 5% of the total share capital of Jiangnan water.Extrajuicyslot.0001%.
It is worth noting that the Great Wall Life brand Jiangnan Water process, starting in January this year, has been buying for five consecutive months, until reaching 5% of the "card line."
The same is true for the city hair environment, which has been bought for 5 months until the card is raised.
For the two A-shares, Great Wall Life said that the equity change is based on the allocation needs of insurance companies and the allocation value of listed companies for a long-term investment, funded by its own funds. After this change of rights and interests, we do not rule out the possibility of continuing to increase the shares of listed companies in the next 12 months on the basis of complying with existing laws, regulations and normative documents.
The person in charge of Great Wall Life told the media that the two listed companies are an important embodiment of the company's implementation of the long-term investment concept of insurance funds, the promotion of the long-term and healthy development of listed companies, and the role of patient capital of insurance funds.
Jiangnan water, Chengfa environment are low-valued public utility stocks, and the total market capitalization is not large, less than 10 billion yuan, and are from the background of local state-owned enterprises.
The main business of Jiangnan water is tap water system and sale; tap water drainage and related water treatment business, while operating engineering business and drainage business. With the development of the company and the increase of drainage operation and maintenance services, the original sewage treatment business is adjusted to drainage business.
Chengfa Environment is a listed company controlled by Henan Investment Group, which involves key areas such as garbage disposal, water investment, construction and operation, highway investment and operation, and has become a national comprehensive environmental protection platform.
Hundreds of billions of risky assets have been listed on six A-shares.
Great Wall Life Insurance Co., Ltd. was formally established on September 20, 2005. the company is headquartered in Beijing with a registered capital of 6.219 billion yuan. The total assets of the company exceeded 100 billion yuan at the end of 2023.
And it's not just the Jiangnan water and urban environment. Great Wall Life also listed companies such as Financial Street, Wuxi Bank, Central Plains Expressway, Zhejiang Jiaoko and so on.
In his latest speech, Bai Li, chairman of Great Wall Life, said that in 2023, the company's premium income exceeded 20 billion yuan, the scale of total assets reached the platform of 100 billion yuan, the level of comprehensive return on investment gradually increased, and the asset-liability was driven by two wheels. Continuous optimization of business structure, eye-catching performance of quality indicators, significant results of cost reduction and efficiency, continued growth of new business value, institutional layout extended to the west, and health management company was established. The company's regulatory evaluation is steadily improving.