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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  China Life Insurance Company    601628   CNE000001Q93

CHINA LIFE INSURANCE COMPANY (601628)
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Didi Chuxing Gets $600 Million Strategic Investment From China Life

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06/12/2016 | 09:55pm EST
   By Juro Osawa 
 

HONG KONG--China's homegrown competitor to Uber Technologies Inc. said it received about $600 million from a top Chinese life insurer as part of its latest fundraising operation.

Didi Chuxing Technology Co., China's largest ride-sharing company, said Monday the strategic investment from China Life Insurance Co. (>> China Life Insurance Company Limited) is made up of an equity investment of $300 million and a long-term debt investment of about $300 million.

China Life, the country's largest state-owned commercial insurer, is the latest addition to the list of Didi's powerful investors. Last month, Apple Inc. (>> Apple Inc.) said it invested $1 billion in Didi. Didi's other major investors include Chinese online shopping company Alibaba Group Holding Ltd. (>> Alibaba Group Holding Ltd) and Chinese social-network company Tencent Holdings Ltd. (>> Tencent Holdings Ltd).

China is a crucial market for Uber. But the U.S. company faces fierce competition from Didi, which has a larger share of China's private car-sharing market and also dominates in taxi hailing.

Write to Juro Osawa at juro.osawa@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING 0.09% 152.5 Delayed Quote.11.00%
APPLE 0.18% 153.62 Delayed Quote.-2.81%
CHINA LIFE INSURANCE COMPANY 0.00% 21.9 End-of-day quote.7.41%
TENCENT HOLDINGS LTD -1.24% 335.8 End-of-day quote.6.67%
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Financials (CNY)
Sales 2018 578 B
EBIT 2018 39 536 M
Net income 2018 32 387 M
Debt 2018 -
Yield 2018 1,67%
P/E ratio 2018 19,70
P/E ratio 2019 15,15
Capi. / Sales 2018 1,00x
Capi. / Sales 2019 0,89x
Capitalization 577 B
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Mean consensus HOLD
Number of Analysts 22
Average target price 22,3  CNY
Spread / Average Target 1,7%
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Managers
NameTitle
Heng Xuan Su President, CEO & Executive Director
Ping Miao Chairman-Supervisory Board
Bin Wang Chairman
Hong Yang Operating Director
Ruan Qi Chief Technology Officer & Vice President
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