Sunday, June 26, 2022
Martin Hennecke

Alibaba ups health stake
<p>Alibaba Health Information Technology (0241) said yesterday that its parent Alibaba (9988) has increased its shareholding in the company to 57.06 percent from 56.7 percent.</p><p>The Chinese e-commerce giant increased its stake in its healthcare unit indirectly from 7.66 billion shares to 7.71 billion shares, Alibaba Health said in a regulatory filing to the Hong Kong exchange yesterday.</p><p>This came as China Pacific Insurance (Group) (2601) announced that its shareholder Shanghai State-owned Assets Management has increased its stake in the insurer to 10.3 percent.</p><p>The insurer said in a filing that Shanghai State-owned Assets Management and its related parties have increased their holdings in the secondary market by a total of 96.25 million shares of the company, reaching 10.32 percent, during the period from April 9 last year to May 20 this year.</p><p>That was an increase of 1 percent compared with the shareholding ratio on April 8, 2021, according to the Chinese insurer.</p><p>Last week, China Pacific Insurance reported that its revenue from the life insurance business grew by 4 percent year-on-year to 115.79 billion yuan (HK$135.76 billion) in the first four months.</p>
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