156-day missing Sanshang American Life (2867-TW) The new chairman is headed by Weng Zhaoxi, the founder of Sanshang Bank and the first chairman of Sanshang Smith Barney Life Insurance. After returning to the pot, the primary task is not only to save the net worth and financial situation of Sanshang Life, but also to introduce strategic investors. The buyer is a financial holding company and intends to exchange for a chance to survive by seeking a sale.
Sanshang Meibang Life Insurance has invested heavily in Yuanta Taiwan 50 once morest 1 and Russian bonds last year, and its investment failure has hit the operation. As of the first half of the year, the following-tax loss was as high as 6.72 billion yuan, and the EPS was -2.31 yuan, the largest loss in history, and has fallen. The two defense lines of supervision of the FSC were broken. Therefore, Sanshang Shou frequently increased capital this year, and sold the entire “Elite Computer Building” in Neihu District, Taipei City.
The financial difficulties of Sanshang Smith Barney also caused Chen Xiangjie, the major shareholder of Sanshang Chenjia, who has served as chairman since 2016, and Weng Cuijun, vice chairman of Wengjia, another major shareholder, to resign from the board of directors in April. Chen Hongsheng acted as a temporary agent, and Chief Investment Officer Lin Dajun also resigned at the end of July.
Although Sanshang Meibang Life Insurance completed the current increase at 8.2 yuan per share in March this year, the Financial Regulatory Commission announced last week the latest figures as of the end of September. The net worth ratio of Sanshang Meibang Life Insurance has dropped to 2.1%, and the capital adequacy ratio is still lower than Statutory 200%.
This also allowed the 88-year-old Weng Zhaoxi to return to the arena and was regarded as a veteran. Sure enough, the day following Weng Zhaoxi took office, the board of directors announced in mid-July that there would be an additional 1 billion shares, and immediately decided to start the second round of capital increase this year in October. .
As for the third capital increase announced in August, it is expected to introduce strategic investors. It is rumored that the potential buyer is Financial Holdings, which has now entered the field inspection (DD) stage. Since Financial Holdings invests in banking, insurance and securities subsidiaries, it must eventually 100% shareholding, whether Sanshangshou’s third round of survival battle this year will be merged into financial holding through private placement has attracted much attention.
