XIAOMI(HK:01810) 2 1 Shi Ji Jing Ji Bao Dao·2026-01-22 10:20Group 1 - Beijing Fabaa Tianxing Property Insurance Co., Ltd. officially announced its opening on January 22, three months after receiving approval to commence operations, marking its entry into the Chinese property insurance market [1] - The establishment of Fabaa Tianxing Insurance was approved by the National Financial Regulatory Administration on October 17, 2024, with a requirement to complete the setup within one year, which was successfully achieved [1] - The company received approval to commence operations on October 17, 2025, after completing its setup [1] Group 2 - Fabaa Tianxing Insurance's business scope includes motor insurance, enterprise/home property insurance, engineering insurance (excluding special risk insurance), liability insurance, marine/cargo insurance, short-term health/accident insurance, reinsurance for the aforementioned businesses, and other insurance fund utilization businesses permitted by laws and regulations [3] - The registered capital of Fabaa Tianxing Insurance is 1 billion RMB, with shareholders including the globally recognized insurance group, France Paris Insurance Group (49% stake), Volkswagen Financial Services Overseas (18% stake), and Sichuan Yinmi Technology Co., Ltd. (33% stake), which is a member of Xiaomi Group [3][4] - Fabaa Tianxing Insurance aims to focus on the rapidly growing new energy vehicle insurance sector, leveraging synergies with its shareholders' businesses, and will continuously optimize claims processes to enhance service experiences for new energy vehicle owners [4]