三峡人寿18.54%股权拟无偿划转，重庆发投跃居第一大股东

Core Viewpoint - The ownership structure of Sanxia Life Insurance has changed significantly, with Chongqing Development Investment Co., Ltd. becoming the largest shareholder after a transfer of shares from Chongqing Yufu Capital, which has seen its stake reduced [3][4]. Shareholding Changes - After the transfer, Yufu Capital holds 404.9 million shares, reducing its stake to 13.35%, while Chongqing Development Investment now holds 1 billion shares, increasing its stake to 33% [3][4]. - The share transfer is a non-compensatory transaction and does not involve any payment [4]. Company Background - Sanxia Life Insurance, established in December 2017, is the only life insurance company headquartered in Chongqing and is a state-owned financial enterprise [4]. - Yufu Capital, founded in February 2004, has a registered capital of 10 billion yuan and focuses on asset acquisition and related investments authorized by the Chongqing government [4]. - Chongqing Development Investment, established in August 2018, has a registered capital of 20 billion yuan and engages in various investment and management activities [4]. Financial Performance - From 2018 to 2020, Sanxia Life's insurance business revenue increased from 0.11 million yuan to 11.02 million yuan, but it has since declined to 3.33 million yuan in 2024 [5]. - The company has reported net losses from 2018 to 2024, totaling 906 million yuan, with a notable loss of 252 million yuan in 2024 [6]. - In the first three quarters of 2025, the company achieved an insurance business revenue of 42 million yuan, a 46% year-on-year increase, while reducing its net loss to 169 million yuan compared to the previous year [6]. Management Issues - The position of General Manager at Sanxia Life has been vacant for nearly seven years, with temporary leaders appointed since the departure of the last approved General Manager in 2018 [6].