ABC takes majority stake in Jiahe Life

ABC will hold 51 per cent stake of Jiahe Life, becoming the controlling shareholder. Shares held by the former five shareholders of Jiahe Life accounted for 49 per cent of the total, with 9.8 per cent respectively.

This is the result of the agreement signed by Mr. Pan Gongsheng, Vice President of ABC, and Mr. Lai Guanrong, General Manager of Jiahe Life, signed the agreement on behalf of both sides. The transaction still subjects to regulatory approval.

Mr. Xiang Junbo, Chairman of ABC, stressed that ABC would perform its duties as a shareholder, actively develop and enhance the values of Jiahe Life together with other shareholders. Meanwhile, ABC would maintain the stability of the management team and staff in Jiahe Life, create development opportunities for employees, and strive to achieve common growth in the interests of the company, the employees and shareholders.