又有宝能系资产摆上拍卖台：钜盛华所持前海财险股权将法拍

Core Insights - The 20% equity stake in Qianhai United Property Insurance Co., Ltd. held by Jushenghua is set for judicial auction with a starting price of 30.8 million yuan, while the estimated value is 44 million yuan [2] - Qianhai Insurance reported total assets of 3.223 billion yuan, net assets of 261 million yuan, revenue of 432 million yuan, and a net loss of 103 million yuan for the year 2024 [2] - The solvency adequacy ratio for Qianhai Insurance decreased by 2.53 percentage points year-on-year to 108.73% due to underwriting losses [2] - The company received a risk comprehensive rating of C in its first quarter report for 2025, indicating regulatory concerns [2] Company Overview - Qianhai Insurance is a national property insurance company established in May 2016, with a registered capital of 1 billion yuan, primarily engaged in various insurance services [3] - The company was founded by Jushenghua and several other firms, each holding a 20% stake [3] - Jushenghua is a key capital operation platform under the Baoneng Group, which has faced financial difficulties leading to multiple asset auctions [3] Recent Developments - The recent leadership change at Qianhai Insurance saw the resignation of General Manager Li Gongni, who served for only 15 months [2] - The Baoneng Group's financial issues have led to the auctioning of various assets, including Qianhai Insurance's equity and other holdings like Qianhai United Fund and Guanzhi Automobile [3][4] - A previous auction of a 30% stake in Qianhai United Fund by Jushenghua resulted in a sale price significantly below the estimated value, indicating distressed asset conditions [4]