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Our reporter Wu Min (chinatimes.net.cn) reports from Beijing

On August 6, Haier Group's insurance service provider Zhongmiao Holdings (01471.HK) was listed on the main board of Hong Kong, becoming the first mainland insurance intermediary to be listed on the Hong Kong Stock Exchange.

Zhongmiao Holdings' IPO price was HK$7, with a total of 35.3 million shares issued, 500 shares per lot. CITIC Securities and China Ping An Capital were its joint sponsors. On the first day of trading, Zhongmiao Holdings' share price once fell below the issue price, but gradually stabilized and rebounded in the afternoon, with a 5% increase on the day and a closing price of HK$7.35 per share.

It has always been difficult for insurance intermediaries to go public. A-shares have not yet achieved a breakthrough of "0", and intermediaries that were listed on the New Third Board in the early days have been delisted in the past two years. The number of insurance intermediaries that have successfully landed on the US stock market is also small. However, since this year, insurance intermediaries have begun to set off a wave of listing.

Successfully listed on the Hong Kong Stock Exchange

Zhongmiao Holdings was established in March 2017, mainly engaged in IT business. In September of the same year, Zhongmiao Holdings acquired Haier Insurance Agency. Currently, Zhongmiao Holdings' business mainly includes insurance agency, IT services and consulting services.