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Cathay Financial: Announced by Cathay Financial Holdings on behalf of Cathay Century Insurance Co., Ltd. to obtain the right-of-use assets from Cathay Life Insurance Co., Ltd.

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Provided by: CATHAY FINANCIAL HOLDING CO., LTD.

SEQ_NO

1

Date of announcement

2022/04/26

Time of announcement

18:26:35

Subject

 Announced by Cathay Financial Holdings on behalf
of Cathay Century Insurance Co., Ltd. to obtain the
right-of-use assets from Cathay Life Insurance Co., Ltd.

Date of events

2022/04/26

To which item it meets

paragraph 20

Statement

1.Name and nature of the underlying asset (e.g., land located at Sublot XX,
Lot XX, North District, Taichung City):Cathay Life Insurance Co., Ltd.
Offices: Room G, B3F, No.296, Sec.4,Ren'ai Rd.,
Da'an Dist., Taipei City 106
2.Date of occurrence of the event:2022/04/26~2022/04/26
3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping),
unit price, and total transaction price:
(1) Office: 15.47 p'ing.
(2) Unit price - right-of-use: NTD19,398 / P'ing
(3) Asset amount of right-of-use: NTD300,090
4.Trading counterparty and its relationship with the Company (if the trading
counterparty is a natural person and furthermore is not a related party of
the Company, the name of the trading counterparty is not required to be
disclosed):Cathay Life Insurance Co., Ltd.,
a related party of Cathay Century Insurance Co., Ltd.
5.Where the trading counterparty is a related party, announcement shall also
be made of the reason for choosing the related party as trading counterparty
and the identity of the previous owner, its relationship with the Company
and the trading counterparty, and the previous date and monetary amount of
transfer:Office lease purpose.
6.Where an owner of the underlying assets within the past five years has
been a related party of the Company, the announcement shall also include the
date and price of acquisition and disposal by the related party, and its
relationship with the Company at the time of the transaction:Not applicable
7.Projected gain (or loss) through disposal (not applicable for
acquisition of assets; those with deferral should provide a table
explaining recognition):Not applicable
8.Terms of delivery or payment (including payment period and
monetary amount), restrictive covenants in the contract,
and other important terms and conditions:Not applicable.
9.The manner of deciding on this transaction (such as invitation to tender,
price comparison, or price negotiation), the reference basis for the
decision on price, and the decision-making unit:
(1) The options of deciding on this transaction:
Negotiation the transaction with each other.
(2) Price reference basis of the decision on:
Professional domain appraisal report.
(3) Decision-making department:The decision-making is
following the authorization procedure of the company.
10.Name of the professional appraisal firm or company and
its appraisal price:Not applicable
11.Name of the professional appraiser:Not applicable
12.Practice certificate number of the professional appraiser:Not applicable.
13.The appraisal report has a limited price, specific price,
or special price:No or Not applicable.
14.An appraisal report has not yet been obtained:No or Not applicable.
15.Reason for an appraisal report not being obtained:Not applicable.
16.Reason for any significant discrepancy with the appraisal reports
and opinion of the CPA:Not applicable
17.Name of the CPA firm:Not applicable.
18.Name of the CPA:Not applicable.
19.Practice certificate number of the CPA:Not applicable.
20.Broker and broker's fee:Not applicable.
21.Concrete purpose or use of the acquisition or disposal:
Our company obtained the real estate use right
asset from Cathay Life Insurance Co., Ltd.as
office space for business purpose.
22.Any dissenting opinions of directors to the present transaction:
Not applicable.
23.Whether the counterparty of the current transaction is a
related party:Yes.
24.Date of the board of directors resolution:NA
25.Date of ratification by supervisors or approval by
the audit committee:NA
26.The transaction is to acquire a real property or right-of-use
asset from a related party:Yes.
27.The price assessed in accordance with the Article 16 of the
Regulations Governing the Acquisition and Disposal of Assets
by Public Companies:Not applicable.
28.Where the above assessed price is lower than the transaction price,
the price assessed in accordance with the Article 17 of the same
regulations:Not applicable.
29.Any other matters that need to be specified:None.

Disclaimer

Cathay Financial Holding Co.Ltd. published this content on April 26, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on April 26, 2022 10:40:25 AM UTC.

Publicnow 2022

All news about CATHAY FINANCIAL HOLDING CO., LTD.

Sales 2022 603B
20,552M
20,552M
Net income 2022 106B
3,628M
3,628M
Net Debt 2022 15,333M
523M
523M
P/E ratio 2022 8.04x
Yield 2022 4.76%
capitalization 840B
28,651M
28,651M
EV / Sales 2022 1.42x
EV / Sales 2023 1.41x
Number of Employees 57 100
Free Float 64.9%

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Chart CATHAY FINANCIAL HOLDING CO., LTD.


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Cathay Financial Holding Co., Ltd.  Technical Analysis Chart |  MarketScreener

Technical analysis trends CATHAY FINANCIAL HOLDING CO., LTD.

short-term Mid Term Long term
trends neutral neutral Bullish



Income Statement Evolution

Sell

Buy

Mean-consensus OUTPERFORM
Number of Analysts 12
Last Close Price TWD63.80
Average target price TWD71.37
Spread / Average Target 11.9%


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