Core Viewpoint - The recent equity change in Jumang Tianma Island Tourism Development Co., Ltd. has attracted attention due to its connection with Huahai Property Insurance, where Tianma Island is the second-largest shareholder [1][2]. Group 1: Equity Change - All three original shareholders of Tianma Island have exited, transferring their shares to two new individual shareholders [1]. - Zhang Qian, the former largest shareholder with a 41% stake, has stepped down, while Li Chan and Zhang Yanjun now hold 60% and 40% of the shares, respectively [1]. - The legal representative of Tianma Island has changed from Li Hongbin to Li Chan [1]. Group 2: Connection to Huahai Insurance - Tianma Island indirectly holds a 10% stake in Huahai Insurance through the new shareholders [2]. - The change in shareholders may help Tianma Island avoid regulatory risks associated with the former major shareholder's credit issues [2]. Group 3: Financial Overview of Huahai Insurance - Huahai Insurance, established in December 2014, has a registered capital of 1.2 billion yuan and is based in Yantai, Shandong [4]. - As of the end of 2024, Huahai Insurance's total assets amounted to 3.499 billion yuan, with owner equity of 814 million yuan [5]. - The company achieved an operating income of 2.393 billion yuan in 2024, a year-on-year increase of 7.79%, with net profit at 2.9396 million yuan, down 6.67% [6].