Sunshine Insurance Group Company Limited (Stock Code: 6963) has provided an update on its connected transaction involving a planned RMB20 billion investment by its subsidiary, Sunshine Life, into a Pilot Fund. The Fund units will be managed by Sunshine Hengyi (Qingdao) Private Equity Fund Management Co., Ltd. (Hengyi Private Equity), an entity wholly owned by Sunshine AMC. On November 17, 2025, Hengyi Private Equity (as the Fund Manager), Sunshine Life (as the fund unit holder), and Qingdao Branch of China Merchants Bank Co., Ltd. (as the fund custodian) entered into the Fund Contract, which remains consistent with the terms previously announced.

Hengyi Private Equity will manage the private securities investment fund, while Sunshine Life continues its core insurance business, encompassing life, health, and accident insurance, alongside reinsurance. China Merchants Bank Co., Ltd. will act as custodian, drawing on its wholesale and retail banking expertise. According to the announcement, the major terms of the transaction remain unchanged, and filing procedures for the Pilot Fund will be undertaken as soon as possible.