10% equity of HuaTai Life Insurance will be auctioned off with a starting price of 91.96 million yuan.

10% equity of Hetai Life Insurance will be auctioned on Alibaba auction platform on October 23, with a starting price of approximately 91.96 million yuan. The holding party, Jin Xing Mining, holds 14% of the shares, but this portion of equity has already been pledged and frozen. Hetai Life Insurance has been operating at a loss for most years since its establishment in 2017, with a loss of 176 million yuan in the first half of this year.