HK Stock Market Move | New China Life Insurance acquired a stake in AH shares of Shanghai Pharmaceuticals Holding (02607), leading to an increase of over 4%.

Shanghai Pharmaceuticals Holding (02607) rose more than 4%, as of the time of publication, it was up 2.01% to 13.2 Hong Kong dollars with a turnover of 16.3978 million Hong Kong dollars. In terms of news, Shanghai Pharmaceuticals Holding announced that on November 13, 2024, it received a "Simple Equity Change Report" from shareholder New China Life Insurance. On November 12, 2024, New China Life Insurance increased its holdings in Shanghai Pharmaceuticals Holding through the secondary market by acquiring 9,999,836 shares of A-shares and 1,500,000 shares of H-shares. After this increase, New China Life Insurance holds 148,951,274 A-shares of Shanghai Pharmaceuticals Holding, accounting for approximately 4.02% of the company's total share capital, and holds 37,895,900 H-shares, accounting for approximately 1.02% of the company's total share capital. The combination asset management product issued by Xinhua Asset Management holds 222,300 A-shares of Shanghai Pharmaceuticals Holding, accounting for approximately 0.01% of the company's total share capital. New China Life Insurance and its concerted parties collectively hold 149,173,574 A-shares and 37,895,900 H-shares of Shanghai Pharmaceuticals Holding, accounting for approximately 5.05% of the company's total share capital. New China Life Insurance stated that this is a significant move to actively implement the national strategic requirement to promote the entry of medium and long-term funds into the market, demonstrating its strong confidence in the Chinese economy and capital market, and its determination to fully serve the stable development of the capital market.