New China Life disclosed a stake-building announcement on October 9, increasing its holding in Guotai Haitong H-shares by 9.9596 million shares through New China Asset Management. Together with persons acting in concert New China Asset Management and New China Asset Management Hong Kong, the combined holding rose to 710 million shares, representing 20.24% of Guotai Haitong's H-share capital. This marks the first time a domestic insurer has pushed its stake in a single brokerage's H-shares above 20% of that brokerage's H-share capital. Based on Guotai Haitong's total share capital of 17.581 billion shares, the New China Life group's stake is about 4.04%, enough to rank as the second-largest single shareholder of this brokerage flagship. Hong Kong Stock Exchange disclosures show that the New China Life group's holding in Guotai Haitong H-shares has risen step by step since May this year, breaking above 16% on May 15, above 17% on July 15, above 18% on September 3, above 19% on September 16, and reaching 20% on September 29, with the holding increasing from 560 million shares to 710 million shares. The funding source for this increase was insurance liability reserves. As of September 29, the book balance of New China Life's holding in Guotai Haitong H-shares was 8.97 billion yuan, accounting for 0.48% of New China Life's total assets at the end of the second quarter of 2026. Since 2026, insurer stake-building activity has cooled noticeably. Only five insurers have made a combined seven stake-building announcements in listed companies this year, less than 30% of the more than 30 stake-building announcements by 13 insurers in the same period of 2025. However, the balance of insurance funds invested in stocks and securities investment funds has crossed the 6 trillion yuan mark for the first time, with the allocation ratio approaching 16%, a record high, and has now risen quarter-on-quarter for eight consecutive quarters.
Guotai Junan Securities Co LtdNew China Life raised its stake in Guotai Haitong H-shares above 20% of H-share capital, becoming the second-largest shareholder, signaling strong institutional demand for the brokerage.
People's Insurance of China Ltd
