Baowu Group! The qualification of the newly appointed director of NCI has been approved

Recently, NCI disclosed the appointment announcement of a director.

The announcement shows that NCI recently received the approval from the National Financial Regulatory Administration (hereinafter referred to as "Financial Regulatory Administration") regarding Zhang Xiaodong's qualifications to serve as a director of New China Life Insurance Co., Ltd. The Financial Regulatory Administration has approved Mr. Zhang Xiaodong's qualifications to serve as a director of the company.

Zhi Shi Tang noted that Zhang Xiaodong has a background with Baowu Steel Group, which is one of the major shareholders of NCI.

The announcement further states that Zhang Xiaodong's term as a director of NCI will commence on August 6, 2025, and will end when the term of the company's eighth board of directors expires.

Who is Zhang Xiaodong?

Zhi Shi Tang reviewed the announcement and found that Zhang Xiaodong currently serves as the chairman and party secretary of Huabao (Shanghai) Equity Investment Fund Management Co., Ltd., and also serves as a director of Shanxi Taigang Stainless Steel Co., Ltd.

According to the registration information from the Asset Management Association of China, the actual controller of Huabao (Shanghai) Equity Investment Fund is China Baowu Steel Group Co., Ltd. This group is one of the largest steel conglomerates in the world.

As of the end of the first quarter of 2025, China Baowu Steel Group is the third largest shareholder of NCI, holding a stake of 12.09%.

Previously, Zhang Xiaodong served as the deputy chief accountant of Taiyuan Iron and Steel (Group) Co., Ltd. (hereinafter referred to as "Tai Steel Group"), supervisor of Taigang Stainless Steel, head of the finance department of Tai Steel Group, general manager of Tai Steel (Tianjin) Financial Leasing Co., Ltd., general manager of Tai Steel (Tianjin) Commercial Factoring Co., Ltd., member of the standing committee of the party committee of Tai Steel Group and chief accountant, member of the standing committee of the party committee of Taigang Stainless Steel, and head of the preparation group for the carbon neutrality fund of China Baowu Steel Group Co., Ltd., among other positions.

Zhang Xiaodong obtained a master's degree in business administration from Renmin University of China in 2014 and holds the title of senior accountant.

The previous director resigned in June

The announcement shows that on June 10 of this year, Li Qiqiang resigned from his position as a non-executive director of NCI, as well as from the audit and related party transaction control committee, the nomination and remuneration committee, and the risk management and consumer rights protection committee due to work reasons.

Following this change, on June 13, NCI disclosed its agreement to nominate Zhang Xiaodong as a candidate for the non-executive director of the company's eighth board of directors and agreed to submit the proposal for shareholder meeting review, awaiting regulatory approval.

Until the latest approval of this appointment qualification, Zhang Xiaodong has completed all the qualification approval procedures