First Shareholding Shift at Xiaokang Life Since Rebranding: Guizhou Guixing Auto Sales to Exit Entire 7% Stake

Xiaokang Life Insurance Co., Ltd. (hereinafter referred to as Xiaokang Life) has announced its first shareholding change since its name change. On May 14, Xiaokang Life disclosed that its shareholder, Guizhou Guixing Automobile Sales Service Co., Ltd., intends to transfer its entire 7% stake in the company to a new shareholder, Tibet Junjie Investment Co., Ltd. A 2025 annual shareholders' meeting was convened on the same day, attended by shareholders and representatives holding 100% of the company's registered capital. Shareholders representing 100% of the voting rights reviewed and approved the "Proposal on Equity Transfer of Xiaokang Life Insurance Co., Ltd."

The announcement indicates that the aforementioned change in shareholders is subject to approval by the Shanghai Office of the National Financial Regulatory Administration before taking effect.

If this equity change is approved, Guizhou Guixing Automobile Sales Service Co., Ltd. will no longer hold shares in Xiaokang Life, while Tibet Junjie Investment Co., Ltd. will become the fourth-largest shareholder with a 7% stake.

According to information disclosed on Xiaokang Life's official website, the 7% stake held by shareholder Guizhou Guixing Automobile Sales Service Co., Ltd. was pledged to Shanghai Kailong Automobile Group Co., Ltd. on February 9, 2026.

Guizhou Guixing Automobile Sales Service Co., Ltd. is a well-known luxury automobile dealer in southwestern China. The intended acquirer, Tibet Junjie Investment Co., Ltd., was established in 2015, with its main business encompassing equity investment, investment management, investment consulting, and asset management.

Currently, Xiaokang Life has four shareholders: Hongshang Industrial Holding Group Co., Ltd. (holding 33%), Contemporary Amperex Technology Co.,Ltd. (CATL, 300750.SZ; 03750.HK), Tsingshan Holding Group Co., Ltd., and Guizhou Guixing Automobile Sales Service Co., Ltd.

Xiaokang Life was formerly known as Sino-French Life Insurance, a joint venture established by China State Post Bureau and France's CNP Assurances. In 2015, China Post exited Sino-French Life, and Hongshang Group joined as a shareholder. For a prolonged period, Sino-French Life faced a liquidity crisis, resulting in urgent solvency issues and consecutive annual losses, relying multiple times on shareholder loans to sustain operations.

In December 2020, two original shareholders, CNP Assurances and Beijing Renji Jiuding Asset Management Co., Ltd., exited. Three new shareholders—Tsingshan Holding, CATL, and Guizhou Guixing—were introduced, increasing the company's registered capital to 3 billion yuan.

In July 2021, Sino-French Life was officially renamed Xiaokang Life. In 2024, Xiaokang Life achieved its first profitable year since the rebranding, recording an annual net profit of 514 million yuan. In 2025, the company's net profit was 442 million yuan.

For the first quarter of 2026, Xiaokang Life reported insurance business revenue of 225 million yuan and a net profit of 150 million yuan. As of the end of the first quarter, the company's core solvency adequacy ratio and comprehensive solvency adequacy ratio stood at 265.41% and 265.87%, respectively, with its risk comprehensive rating for the last two assessment periods both at BB level.