Ping An entities reduce stake in China Fortune Land Development

Ping An Asset Management Co., Ltd. and Ping An Life Insurance Co. of China Ltd. jointly reduced their holdings in China Fortune Land Development Co., Ltd. (CFLD) between October 20 and October 21, 2025. Through concentrated bidding on the stock exchange, the Ping An entities offloaded 7,815,487 shares, representing 0.20% of CFLD's total share capital.

This transaction decreased their collective stake from 25.19% to 24.99%, marking a 5% integer multiple change in their equity interest. Prior to this, Ping An Asset Management held 1,649,576 shares (0.04%), which has now decreased to 0 shares (0.00%). Ping An Life Insurance's holding decreased from 984,079,977 shares (25.14%) to 977,914,066 shares (24.99%).

The Ping An entities had previously announced a plan on August 9, 2025, to potentially reduce their holdings by up to 117,411,610 shares (not exceeding 3% of total share capital) between September 1 and November 30, 2025. The current reduction is part of this ongoing plan, with the entities indicating a further decrease in their CFLD equity interest over the next 12 months.