China Taiping Insurance Holdings Company Limited (Stock Code: 966) announced that its non-wholly owned subsidiary Taiping Life Insurance Company Limited (TPL) has entered into equity interest transfer agreements to dispose of TPL’s minority stakes in four companies affiliated with China Railway Construction Corporation Limited (CRCC). These four entities—CRCCI, CRCC Kunlun, CR 11th Bureau, and CRCCG—had received a total of RMB6.50 billion from TPL in December 2019.

According to the agreements, TPL will transfer all its shareholdings in the four companies back to CRCC for an aggregate cash consideration of RMB6.50 billion. The transaction is expected to generate a gain of approximately RMB300 million for TPL, subject to final audit results. As part of the deal, shareholders’ meetings will finalize and distribute any undistributed profits to TPL before completion. TPL plans to use the cash proceeds to optimize its asset structure and enhance future liquidity.

All conditions precedent for the completion of this transaction have been satisfied. Upon its conclusion, TPL will cease to hold any interest in the four entities. The disposal will be treated as a discloseable transaction under the Listing Rules, with the applicable percentage ratios exceeding 5% but remaining below 25%, thereby triggering relevant notification and announcement requirements.