Here’s the deal.

People's Insurance Company of China refers to "People's Insurance Company Investment Holdings Co., Ltd.", and its parent company is "People's Insurance Company of China", one of the largest insurance groups in China.

Huawen refers to "China Huawen Investment Holdings Co., Ltd.", Huawen Holdings is affiliated to "People's Daily", I don't need to explain this.

The People's Insurance Company of China invested 862 million yuan to control 55% of Huawen Holdings.

Huawen Holdings has a subsidiary called "Shanghai Xinhua News Investment Co., Ltd."

There are two listed companies under Shanghai Xinhua News, namely Huawen Media (000793) and Xinhuangpu (600638). Among them, New Huangpu is the financial platform of Huawen Holdings, and all financial companies are under New Huangpu.

The financial companies held by New Huangpu are as follows:

100% equity of Huawen Futures

43.75% equity of Ruiqi Futures

Mai 40% equity of Ke Futures

29.97% equity of Zhongtai Trust

49% equity of Guoyuan Trust, of which Guoyuan Trust also holds 22% equity of Guoyuan Securities, and is The largest shareholder of Changsheng Fund.

5.91% equity of Aijian Securities

In other words, after PICC controls Huawen Holdings, it will indirectly own the equity of the above-mentioned financial companies.

Including securities, futures, trusts, and funds.

These are the four financial licenses (securities, futures, trusts, funds) mentioned in the report. It is very difficult to approve these financial licenses individually. Four licenses can be obtained through such a transaction, which is certainly what the People's Insurance Company of China desires.

After the transaction is completed, PICC will become the third financial holding group with insurance companies as its main body, following Ping An of China and China Life. Of course, there is still a long way to go for PICC to build a financial holding, and integration and sorting out require a lot of follow-up work.

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