China Life Becomes a Wholly-owned Subsidiary of CDF on Dec 30, 2021.

Dec 29, 2021
Press Release

China Development Financial (referred to as “CDF” below) stated that China Life will become a wholly-owned subsidiary of CDF as of tomorrow (12/30/2021). CDF also pointed out that this important milestone achieved is a key part of the group strategy launched in Q1 of this year. CDF and its subsidiaries will be dedicated to the implementation of the ABCDE Strategy to Accelerate Digital, Become Employer of Choice, Customer Focus, Drive Growth, and Execution Excellence. More specifically as it relates to A-Accelerate Digital, CDF has become the first financial holding company in Taiwan to partner with Microsoft to introduce cloud solutions. CDF will use cloud technologies to strengthen its employees’ digital competitiveness and as such provide consistent financial services and experiences to its customers.

CDF has also accomplished outstanding financial achievements after launching its strategy with accumulated after-tax profit in the previous 11 months of NT$33.293 billion and an EPS of NT$2.23.

In terms of ESG, after World Earth Day which was in April of this year, CDF became the first financial holding company in Taiwan to commit to net zero carbon emissions for its total portfolio by 2045. This action has allowed CDF to be included in the Dow Jones Sustainability Index (DJSI) for a second year in a row and also to be included in the 2021 DJSI World and DJSI Emerging Markets indices. These achievements represent the international recognition that CDF has received for its sustainable finance, financial tolerance and other related core financial competencies.

CDF will continue to expand its influence through investments and financing activities while maintaining a leadership position in ESG. Through its 4 major subsidiaries China Life, KGI Securities, KGI Bank and CDIB Capital Group, CDF will accelerate the development of banking, securities, private equity, asset management, and insurance for its customers as well as enhance the group's competitiveness, creating synergies and demonstrating its entrepreneurial spirit to achieve its vision of becoming a leading financial company in Asia.