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    1508   CNE100002342

CHINA REINSURANCE (GROUP) CORPORATION

(1508)
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Delayed Hong Kong Stock Exchange  -  05/27 04:08:54 am EDT
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China Reinsurance : ANNOUNCEMENT - THE UNAUDITED INTERIM REPORTS AND SOLVENCY STATEMENTS OF CHINA RE P&C AND CHINA RE LIFE FOR THE SIX MONTHS ENDED 30 JUNE 2020

08/28/2020 | 07:28am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

China Reinsurance (Group) Corporation

中國再保險(集團)股份有限公司

(A joint stock limited liability company incorporated in the People's Republic of China)

(Stock Code: 1508)

ANNOUNCEMENT

THE UNAUDITED INTERIM REPORTS AND SOLVENCY STATEMENTS OF CHINA RE P&C AND CHINA RE LIFE FOR THE SIX MONTHS ENDED 30 JUNE 2020

This announcement is made by China Reinsurance (Group) Corporation (the "Company") pursuant to the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

References are made to the voluntary announcements of the Company dated 17 August 2018 and 29 November 2018 in relation to the completion of the issuance of the capital supplementary bonds of China Property and Casualty Reinsurance Company Ltd. ("China Re P&C") and China Life Reinsurance Company Ltd. ("China Re Life"), subsidiaries of the Company. China Re P&C and China Re Life have successfully issued the capital supplementary bonds with total principal amounts of RMB4 billion and RMB5 billion publicly in the National Interbank Bond Market, respectively. In accordance with the relevant regulations, within the duration of the capital supplementary bonds, China Re P&C and China Re Life need to disclose their unaudited interim reports and solvency statements for the first half of the year at the websites of China Money (www.chinamoney.com.cn) and China Bond (www.chinabond.com.cn). For details, please refer to the Announcement of the Unaudited Interim Results for the Six Months Ended 30 June 2020 published by the Company on the websites of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and the Company (www.chinare.com.cn) on 28 August 2020 and the reports to be disclosed at the websites of China Money and China Bond by China Re P&C and China Re Life in due course.

On behalf of the Board

China Reinsurance (Group) Corporation

Zhu Xiaoyun

Joint Company Secretary

Beijing, the PRC, 28 August 2020

As at the date of this announcement, the executive directors of the Company are Mr. Yuan Linjiang, Mr. He Chunlei and Mr. Ren Xiaobing, the non-executive directors of the Company are Ms. Lu Xiuli, Mr. Wen Ning, Ms. Wang Xiaoya and Mr. Liu Xiaopeng, and the independent non-executive directors of the Company are Mr. Hao Yansu, Mr. Li Sanxi, Ms. Mok Kam Sheung and Ms. Jiang Bo.

Disclaimer

China Reinsurance (Group) Corporation published this content on 28 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 August 2020 11:28:01 UTC


© Publicnow 2020
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Sales 2022 175 B 26 140 M 26 140 M
Net income 2022 6 874 M 1 026 M 1 026 M
Net cash 2022 25 581 M 3 818 M 3 818 M
P/E ratio 2022 3,62x
Yield 2022 8,38%
Capitalization 24 292 M 3 626 M 3 626 M
EV / Sales 2022 -0,01x
EV / Sales 2023 -0,01x
Nbr of Employees 55 407
Free-Float 14,9%
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Number of Analysts 7
Last Close Price 0,57 CNY
Average target price 0,74 CNY
Spread / Average Target 28,6%
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