On October 15, a reporter from Guoshang Daily learned that the China Securities Regulatory Commission has approved the issuance of no more than 3.968 billion overseas listed foreign shares, with a par value of RMB 1 per share, all of which are common shares. After this issuance, Sunshine Insurance Group can be listed on the Hong Kong Stock Exchange motherboard.
CSRC stated that within 15 working days after issuance, Sunshine Insurance Group shall centrally register and deposit non-listed shares in China Securities Depository and Settlement Co., Ltd. , and report the shares in a centralized registration and deposit and the issuance and listing situation in writing. This approval is valid within 12 months from the date of approval.
In April this year, the website of the CSRC showed that on April 6, the CSRC had received approval application materials for the initial public offering of shares in Sunshine Insurance Group (including common shares, preferred shares and other stocks and their derivatives).
Public information shows that Sunshine Insurance Group was established in July 2005. It started out as a property insurance business and now has multiple professional subsidiaries such as property insurance, life insurance, credit guarantee insurance, , asset management, and health care. Data from the China Banking Regulatory Commission shows that as of the end of 2021, there were 13 insurance groups/holding companies in my country, and Sunshine Insurance is one of them.
data shows that from 2019 to 2021, the combined revenue of Sunshine Insurance Group was approximately RMB 100.837 billion, RMB 115.059 billion and RMB 119.969 billion, RMB 119.969 billion, RMB 119.969 billion, RMB 5.086 billion, RMB 5.619 billion and RMB 5.883 billion, respectively, maintaining a growth trend.
Sunshine Insurance Group official website shows that the company has 9 shareholders with more than 5% of the shares, namely: Beijing Ruiteng Hongyi Investment Management Co., Ltd., Beijing Chengtong Financial Holdings Investment Co., Ltd., Jiangsu Tiancheng Property Development Co., Ltd., Lhasa Fengming Engineering Machinery Sales Co., Ltd., Jiangsu Yonggang Group Co., Ltd., Beijing Bangchen Zhengtai Investment Co., Ltd., Shanghai Xuchang Technology Co., Ltd., Shannan Hongquan Equity Investment Co., Ltd., China Chengtong Holdings Group Co., Ltd.
Currently, the number of listed insurance companies in my country is relatively small, and most of them are large and medium-sized insurance companies. Among them, China PICC (601319), China Life (601628), China Ping An (601318), China Taiping Insurance (601601), and Xinhua Life (601336) are A+H listed companies. There are also 4 H-share listed companies, including China Taiping , China PC Insurance (China PICC PC Insurance), China Reinsurance and ZhongAn Online. In addition, some insurance companies are actively seeking to go public. For example, in December last year, the China Securities Regulatory Commission announced that it had received the IPO application materials for Guoyuan Agricultural Insurance a shares.
