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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  China Pacific Insurance (Group) Co., Ltd    601601   CNE1000008M8

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China Pacific Insurance (Group) Co., Ltd : (2014-2-27)Voluntary Announcement - Approval on Establishment of the Health In……

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02/28/2014 | 02:37am CET

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 PACIFIC INSURANCE (GROUP) CO., LTD.

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

(Stock Code: 02601) VOLUNTARY ANNOUNCEMENT APPROVAL ON ESTABLISHMENT OF THE HEALTH INSURANCE COMPANY

This is a voluntary announcement made by the Board of Directors (the "Board") of China Pacific
Insurance (Group) Co., Ltd. (the "Company").
Reference is made to the overseas regulatory announcement issued by the Company on 23 January
2013 on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") which contained the board resolution on the establishment of China Pacific Insurance Allianz Insurance Co., Ltd. ( j(�
�§P{Jt��flix)/ff�0i§J ) (the "Health Insurance Company").
The Board is pleased to announce that the Company has received the "Approval on the
Establishment of China Pacific Insurance Allianz Insurance Co., Ltd. ( j(��§P{Jt��flix)

/ff�0i§J )" (Baojianchoujian [2014] NO. 10) from China Insurance Regulatory Commission,

according to which the establishment of the Health Insurance Company by the Company and
Allianz SE ( .m��§P�fli� ) has been approved. The Company will proactively proceed with
the establishment of the Health Insurance Company.
Pursuant to Chapter 14 and Chapter 14A of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"), the establishment of the Health Insurance Company does not constitute a notifiable transaction or a connected transaction. Pursuant to Rule 13.09(2) of the Listing Rules and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), it does not constitute inside information.
By Order of the Board

China Pacific Insurance (Group) Co., Ltd. Gao Guofu

Chairman

Hong Kong, 28 February 2014

As of the date of this announcement, the executive directors of the Company are Mr. GAO Guofu and Mr. HUO Lianhong; the non-executive directors of the Company are Mr. WANG Chengran, Ms. SUN Xiaoning, Mr. YANG Xianghai, Mr. WU Jumin, Mr. WU Junhao and Mr. ZHENG Anguo; and the independent non-executive directors of the Company are Mr. BAI Wei, Mr. LAM Chi Kuen, Mr. ZHOU Zhonghui and Mr. FOK Kwong Man.

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Financials ( CNY)
Sales 2016 249 253 M
EBIT 2016 18 123 M
Net income 2016 12 263 M
Debt 2016 -
Yield 2016 2,38%
P/E ratio 2016 20,75
P/E ratio 2017 17,85
Capi. / Sales 2016 0,98x
Capi. / Sales 2017 0,86x
Capitalization 245 190 M
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 33,2  CNY
Spread / Average Target 20%
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Lian Hong Huo President & Executive Director
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