Zhejiang Century Huatong Group Co., Ltd. (002602.SZ), an auto parts manufacturer, said in a stock exchange statement on Tuesday that the company planned to set up a life insurance firm with online game developer Dalian Zeus Entertainment Co., Ltd. (002354.SZ) and three other partners.
They will each contribute 300 million yuan to found the new insurer, according to the statement.
The three other partners are oil refiner Shandong Dongming Petrochemical Group Co., Ltd., liquor maker Shandong Huaguan Group Co., Ltd. Huaguan, and a Qingdao-based investment company called Taisheng.
Century Huatong shares resumed trading on Tuesday, rising by the 10 percent limit-up at the opening, after having been halted since last Thursday.
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