Recently, an equity change announcement disclosed by Pearl River Life Insurance showed that Hengyang Hechuang Real Estate Development Co., Ltd., the third largest shareholder of the company, transferred 670 million shares of Pearl River Life Insurance to Guangzhou Guangyong State-owned Assets Management Co., Ltd., which is a wholly-owned subsidiary of Guangzhou Financial Holding Group Co., Ltd. After the equity transfer was completed, Hechuang Real Estate held 600 million shares of Pearl River Life Insurance, accounting for 8.96% of Pearl River Life's total shares; Guangyong State-owned Assets held 670 million shares of Pearl River Life Insurance, accounting for 10% of Pearl River Life's total shares.

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