O’Melveny Represents Sponsors and Underwriters in IPO of China’s Second Largest Online Insurance Intermediary Shouhui Group
May 30, 2025
FOR IMMEDIATE RELEASE
HONG KONG—May 30, 2025— O’Melveny recently represented China International Capital Corporation Hong Kong Securities Limited and Huatai International Financial Holdings Limited (as joint sponsors), CCB International Capital Limited, CLSA Limited and other underwriters in the initial public offering of Shouhui Group Limited (“Shouhui Group”, 2621.HK) on the Main Board of the Hong Kong Stock Exchange. The total offering size was approximately HK$196.8 million (approximately US$25 million).
Established in Shenzhen in 2015, Shouhui Group provides insurance service solutions to policyholders and the insured online through life and health insurance transaction and service platforms. According to consulting firm Frost & Sullivan, the size of China’s life and health insurance market in terms of GWP (Gross Written Premium) was RMB3.8 trillion in 2023, dominated by online intermediaries. Shouhui Group is the second largest online insurance intermediary in China in terms of GWP of long-term life and health insurance in 2023.
Among its three online platforms Xiaoyusan, Kachabao and Niubao 100, Xiaoyusan is online direct distribution facing consumers, its product Chaojimali Critical Illness Insurance was a commercial success since its launch in 2019.
CICC, Huatai International acted as joint sponsors, overall coordinators and joint global coordinators, CCB International acted as an overall coordinator and joint global coordinator, CLSA Limited acted as a joint global coordinator, other underwriters include CMB International, Futu Securities, Patrons, TradeGo Markets, Tiger Brokers and Maxa Capital.
The O’Melveny team was led by partners Ke Zhu and Ke Geng. The core team members included counsel Vincent Wang and Qianyu Hu, associates Michelle Ye, William Sun, and Jingwei Huang, legal consultant May Qian and trainee solicitors Norman Luk and Ella Li. Associate Sean Sy and trainee solicitor Bianca Cheng also provided valuable support.
About O’Melveny
It’s more than what you do: it’s how you do it. Across sectors and borders, in board rooms and courtrooms, we measure our success by yours. And in our interactions, we commit to making your O’Melveny experience as satisfying as the outcomes we help you achieve. Our greatest accomplishment is ensuring that you never have to choose between premier lawyering and exceptional service. So, tell us. What do you want to achieve? Visit us at www.omm.com; learn more in our firm at-a-glance; and find us on LinkedIn, X, Facebook, Instagram, and YouTube.
Contact:
Brandon Jacobsen
O’Melveny & Myers LLP
+1 213 430 8024
bjacobsen@omm.com
Chris Schob
O’Melveny & Myers LLP
+86 21 2307 7000
cschob@omm.com
# # #