Hangzhou Bank: China Life Insurance plans to reduce its holdings of the company's shares by no more than 0.7%.

Hangzhou Bank announced on the evening of July 15th that shareholder China Life Insurance plans to reduce its holdings of the company's shares by no more than 50,789,400 shares, or 0.70% of the total share capital of the company, through centralized bidding or block trading within three months after the disclosure of the announcement. The announcement indicated that as of the disclosure date, China Life Insurance holds a total of 50,789,400 shares of Hangzhou Bank, accounting for 0.70% of the total ordinary shares of the company.