Sinatay Life Insurance Co., Ltd. announced that it has entered into a share subscription agreement and it will receive up to CNY 9,374 million in a round of funding on September 28, 2023. The transaction included participation from new investors, Wuchan Zhongda Group Co.,Ltd., Hangzhou Chengtou Capital Group Co., Ltd., Hangzhou Xiaoshan Environment Group Co., Ltd., Hangzhou Xiaoshan Qianjiang Century City Equity Investment Co., Ltd. and Wuchan Zhongda Group Co.,Ltd. will invest up to CNY 6.065 billion for 33% stake. The transaction still needs to be reported to the state administration of financial supervision and administration for approval of shareholder qualifications, and it still needs to pass the review of concentration of operators by the state administration for market regulation (or the State Anti-Monopoly Bureau, depending on the situation of the review authority at that time).