SINOLIFE UTD (03332.HK): Proposes to Utilise Capital Reserves and Statutory Surplus Reserves Totalling Approximately RMB306 Million to Offset Accumulated Losses of Parent Company
NewTimeSpace News:NANJING SINOLIFE UNITED COMPANY LIMITED(03332.HK) announced on 24 July that it proposes to utilise capital reserves of RMB258.7 million and statutory surplus reserves of RMB47.3 million, aggregating RMB306 million, to offset accumulated losses of the parent entity. The accumulated losses will be eliminated upon completion. The proposal remains subject to shareholders’ approval at the extraordinary general meeting. The Company stated the move will strengthen its capacity to deliver returns to investors.
NewTimeSpace News: On 24 July 2026, NANJING SINOLIFE UNITED COMPANY LIMITED (03332.HK) issued an announcement. The Board resolved, in accordance with applicable laws and regulations, to utilise approximately RMB258.7 million of the parent company’s capital reserves and around RMB47.3 million of statutory surplus reserves (totalling roughly RMB306 million) to offset the parent company’s accumulated losses of approximately RMB306 million as at 31 December 2025.
Upon completion, the parent company’s capital reserves will reduce to approximately RMB285.5 million, statutory surplus reserves will be reduced to nil, and accumulated losses will be fully eliminated.
The Company stated that the initiative will help enhance its ability to generate returns for investors and support high-quality development of the Group. The capital reserves to be utilised are entirely derived from share premiums contributed by shareholders in cash, while statutory surplus reserves originate from realised profits. The matter is subject to approval by shareholders by way of an ordinary resolution at an extraordinary general meeting.
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