Date of announcement 2021/01/07

Time of announcement 17:45:58

Date of events  2021/01/07

To which item it meets paragraph 51

Statement

 

1.Date of occurrence of the event:2021/01/07

2.Company name:China Development Financial Holding Corporation

3.Relationship to the Company (please enter ”head office” or  ”subsidiaries”):head office

4.Reciprocal shareholding ratios:N/A

5.Cause of occurrence:

(1)The NTD 1 billion capital reduction application of China Development Asset Management  Corporation, subsidiary of CDF, was approved by Financial Supervisory Commission, R.O.C. on October 7, 2020.

(2)According to the Article 5, paragraph 2 of the Regulations Governing the Capital Reduction at the Subsidiaries of a Financial Holding Company, the company is required to post the information regarding the status of use

of funds on Market Observation Post System within ten days after each quarter end.

1.The use of funds and the effectiveness of the capital reduction is to strengthen CDF's investment capability, provide funding for potential merge and investment opportunities, and also enhance operating capital and strengthen financial structure in the short term.

2.Status of capital reduction: CDF obtained the funds on November 6, 2020. CDF plans to use the funds as partial payment of consideration associated with its acquisition of China Life Insurance Co., Ltd. shares in Q1 2021.

6.Countermeasures:None

7.Any other matters that need to be specified:None