On January 20, Capital State learned that data from the Hong Kong Stock Exchange showed thatZhongan Online P&C Insurance(06060.HK) Ant Technology Group Co., Ltd., the single largest shareholder, reduced its stake in Zhongan online shares by about 46.5371 million shares, from 13.54% to 10.37%. The other two major shareholders of Zhongan Online P&C Insurance, Tencent and Ping An Insurance, remain unchanged at 10.21%.
Ant Group responded to this, the reduction is a normal investment decision, although holding a lower stake in Zhongan, but the strategic cooperative relationship between the two sides remains unchanged, ants continue to be optimistic about the long-term development of Zhongan.
It is reported that there are many related transactions between Zhongan Online P&C Insurance and Ant Group. in November 2021, Zhongan Online P&C Insurance signed a "platform Services Framework Agreement" with Ant Group. During the agreement period, Ant Group and its affiliated enterprises provide platform services for health insurance, air travel insurance, e-commerce and other forms of insurance, while Zhong'an pays platform service fees to Ant Group or its affiliated enterprises, mainly insurance agency fees.
The upper limits of related party transactions under the three-year agreement in 2020, 2021 and 2022 are 2.01 billion yuan, 3.048 billion yuan and 1.517 billion yuan respectively.