On February 11, 2026, Ping An Property & Casualty Insurance Company of China, Ltd. officially released a shareholder change information disclosure announcement, detailing an equity transfer completed through a judicial auction process.
This equity change involved the transferor Shenzhen Wanjing Investment Co., Ltd. and the transferee Ping An Insurance (Group) Company of China, Ltd. The adjustment represents a minor optimization within the internal equity structure of Ping An P&C Insurance and does not have a substantive impact on the company's core operations or governance framework. However, it further solidifies the absolute controlling stake held by Ping An Group in its key subsidiary.
According to key details disclosed in the announcement, the subject of this equity transfer was 170,000 shares of Ping An P&C Insurance held by Shenzhen Wanjing Investment Co., Ltd. The transfer was conducted strictly in accordance with relevant judicial regulations via an online judicial auction procedure. This process ensured the compliance and transparency of the transaction.
The transferred shares represent a mere 0.0008% of Ping An P&C Insurance's current total share capital of 210 billion shares. Given the minimal scale and the absence of major corporate events such as a spin-off, merger, or adjustment to core business operations accompanying this shareholder change, the transaction falls within the scope of routine equity optimization.
As a core subsidiary of Ping An Group, Ping An P&C Insurance was established in 1988 and, measured by premium income, consistently ranks as the second-largest property and casualty insurer in China. The stability of its equity structure has always been a focus of market attention. Prior to this transfer, Ping An Group already held 20,904,704,999 shares in Ping An P&C Insurance, representing 99.5462% of the total shares and establishing an absolute controlling position. Shenzhen Wanjing Investment Co., Ltd., as a minor shareholder, held only 270,263 shares, or 0.0013%, prior to the transfer, exerting limited influence on company decisions.
Following the completion of this equity transaction, the shareholding figures for both parties have been adjusted slightly, with specific changes clearly documented: The shareholding of Shenzhen Wanjing Investment Co., Ltd. decreased from 270,263 shares to 100,263 shares, with its ownership proportion dropping correspondingly to 0.0005%, meaning it retains a minimal stake. Ping An Group's shareholding increased to 20,904,874,999 shares, with its ownership proportion rising slightly to 99.5470%, thereby further strengthening its controlling position. This change continues a recent trend of equity consolidation by Ping An Group in its core subsidiaries. There have been previous instances of minor shareholders transferring their stakes in Ping An P&C Insurance to the Group. Gradually optimizing the equity structure and enhancing decision-making efficiency has become an important aspect of the Group's management strategy for its subsidiaries.
From an industry perspective, this equity change does not constitute a substantive impact on the competitive landscape of the insurance industry or on the operations of Ping An P&C Insurance itself. Market analysts note that although the volume of shares transferred is small, against the backdrop of continuously improving insurance industry regulation and increasingly fierce market competition, Ping An Group's minor increase in its stake in a core subsidiary reflects both continued confidence in the development of the P&C insurance business and a concrete measure to optimize corporate governance and enhance synergies through equity concentration. Ping An P&C Insurance can continue to benefit from the support of the Group's powerful integrated financial platform in areas such as brand recognition, cross-selling, and back-office operations, further consolidating its market advantages.
It is important to note that this shareholder change is still subject to necessary regulatory filing procedures and will only take formal effect after being filed with the National Financial Regulatory Administration. Ping An P&C Insurance will subsequently disclose relevant progress in accordance with regulatory requirements and information disclosure rules. In line with regulations concerning the transfer of auctioned shares, Ping An Group, as the purchaser, will complete the share registration transfer formalities using documents such as the court-issued transaction confirmation and enforcement ruling, ensuring the legality and validity of the equity change.
Overall, this equity change at Ping An P&C Insurance represents a routine internal optimization by the Group, characterized by strong compliance and limited impact. By slightly increasing its stake, Ping An Group further consolidates control over its core subsidiary. This helps maintain the stability and continuity of Ping An P&C Insurance's operational decisions, providing a more solid equity foundation for its future innovation development and risk management within the property and casualty insurance sector. Looking ahead, with the ongoing optimization of its equity structure, Ping An P&C Insurance is expected to further leverage synergies with other business segments of the Group, continuously enhance its core competitiveness, and consolidate its leading position in the domestic property and casualty insurance market.