Hangzhou Bank: China Life Insurance plans to reduce its stake in the company by no more than 0.70%

Hangzhou Bank announced that as of the disclosure date of this announcement, China Life Insurance holds a total of 50,789,400 shares of Hangzhou Bank, accounting for 0.70% of the total common stock of the company. China Life Insurance intends to reduce its holdings by no more than 50,789,400 shares within three months after three trading days from the date of this announcement, through centralized bidding or block trading, not exceeding 0.70% of the total common stock of the company.