Nanjing Iron & Steel Co., Ltd. (SHSE:600282) signed an agreement to acquire unknown minority stake in Sunshine Insurance Group Company Limited from Shenzhen Linfeng Investment Holdings Co., Ltd. for CNY 1.4 billion on July 23, 2021. As per the transaction, Nanjing Iron & Steel Co., Ltd. will acquire 200 million shares. For year ended December 31, 2020, Sunshine Insurance Group Company Limited has reported total assets of CNY 405.5 billion, net assets of CNY 56.9 billion, operating profit of CNY 115 billion and net profit of CNY 5.7 billion. The Board of Directors of Nanjing Iron & Steel Co., Ltd. has approved the transaction.