New China Life seeks capital boost, board revamp at EGM

New China Life Insurance Company Ltd. will convene its Fourth Extraordinary General Meeting (EGM) of 2025 on December 24, 2025, in Beijing. Shareholders will vote on a special resolution concerning the issuance of domestic undated capital bonds, aiming to raise up to RMB10 billion. This strategic move is intended to enhance the company's capital strength, optimize its capital structure, and support business development. Proceeds will primarily be allocated to core capital and fixed income asset investments.

The EGM will also consider ordinary resolutions, including amendments to the Administrative Measures on Related Party Transactions. These revisions align with updated regulations from the National Financial Regulatory Administration and the Shanghai Stock Exchange, clarifying transaction classifications, approval processes, and disclosure requirements. The investment management department will now manage information on related parties under significant company influence.

Furthermore, shareholders will elect the ninth session of the board of directors. The proposed slate includes re-election for existing executive, non-executive, and independent non-executive directors, with Ms. Sau Fun Cheung nominated as a new independent non-executive director. Her appointment is contingent on regulatory approval, and she has affirmed her independence in line with Hong Kong Listing Rules.