Cathay Financial Holding Announces Early Termination of Right-of-Use Asset Lease Agreement by Subsidiary Cathay Century Insurance with Cathay Life Insurance
Cathay Financial Holding announced that its subsidiary, Cathay Century Insurance, has early terminated a warehouse lease agreement in Taoyuan City with a related party, Cathay Life Insurance, effective May 20, 2026. The termination is due to a change in the warehouse floor, resulting in a decrease of 253,322 TWD in right-of-use assets.
📋 Article Processing Timeline
- 📰 Published: May 21, 2026 at 06:31
- 🔍 Collected: May 21, 2026 at 06:31 (0 min after Published)
- 🤖 AI Analyzed: May 21, 2026 at 06:49 (17 min after Collected)
Date of Report: May 21, 2026
Date of Announcement: May 20, 2026
Time of Announcement: 17:43:51
Company Code: 2882
Company Name: Cathay Financial Holding
Subject: Announcement on behalf of subsidiary Cathay Century Insurance Co., Ltd. regarding the disposal of right-of-use assets (early termination of lease agreement) with Cathay Life Insurance Co., Ltd.
Compliance Clause: Paragraph 20
Date of Occurrence: May 20, 2026
Details:
1. Name and nature of the subject matter: Taoyuan Zhongshan Building (Room A1, 10F, No. 845, Zhongshan Rd., Taoyuan Dist., Taoyuan City)
2. Date of occurrence: 2026/05/20 ~ 2026/05/20
3. Date of Board of Directors approval: Not applicable
4. Other approval date and level: President (May 20, 2026)
5. Volume, unit price, and total transaction amount:
(1) Volume: 1 warehouse room of 24.25 ping, 661.5 TWD per ping (tax included)
Decrease in unit price: 16,042 TWD (monthly rent), Decrease in total transaction amount: 16,042 TWD * 16 months = 256,672 TWD
(2) Decrease in right-of-use asset amount: 253,322 TWD
6. Counterparty and its relationship to the Company:
Counterparty: Cathay Life Insurance Co., Ltd.
Relationship: Related party
7. If the counterparty is a related party, reasons for choosing them and details of previous transfers:
Reason: Early termination due to warehouse floor change
Previous transfer details: Not applicable
8. Information if the owner within the last five years was a related party: Not applicable
9. Expected disposal gain (or loss): Not applicable
10. Delivery or payment conditions, restrictive covenants, etc.:
Original lease period: September 21, 2025 to September 20, 2027. Early termination date: May 20, 2026
Delivery/payment conditions: Not applicable
11. Method of determining the transaction, reference basis for price, and decision-making unit:
Method/Price basis: Handled according to the provisions on early termination in the original lease agreement
Decision-making unit: According to the Company's authorization limits
12-22. Professional appraisals and CPA opinions: Not applicable
23. Specific purpose or use of acquisition or disposal: Early termination of lease agreement due to warehouse floor change
24. Dissenting opinions of directors: None
25. Is this a related party transaction: Yes
26. Date of acknowledgment by supervisors or approval by Audit Committee: Not applicable
27. Is this acquisition of real estate or its right-of-use assets from a related party: Yes
28-30. Appraisals under relevant regulations / previous material messages: Not applicable
31. Other specific matters: None
Date of Announcement: May 20, 2026
Time of Announcement: 17:43:51
Company Code: 2882
Company Name: Cathay Financial Holding
Subject: Announcement on behalf of subsidiary Cathay Century Insurance Co., Ltd. regarding the disposal of right-of-use assets (early termination of lease agreement) with Cathay Life Insurance Co., Ltd.
Compliance Clause: Paragraph 20
Date of Occurrence: May 20, 2026
Details:
1. Name and nature of the subject matter: Taoyuan Zhongshan Building (Room A1, 10F, No. 845, Zhongshan Rd., Taoyuan Dist., Taoyuan City)
2. Date of occurrence: 2026/05/20 ~ 2026/05/20
3. Date of Board of Directors approval: Not applicable
4. Other approval date and level: President (May 20, 2026)
5. Volume, unit price, and total transaction amount:
(1) Volume: 1 warehouse room of 24.25 ping, 661.5 TWD per ping (tax included)
Decrease in unit price: 16,042 TWD (monthly rent), Decrease in total transaction amount: 16,042 TWD * 16 months = 256,672 TWD
(2) Decrease in right-of-use asset amount: 253,322 TWD
6. Counterparty and its relationship to the Company:
Counterparty: Cathay Life Insurance Co., Ltd.
Relationship: Related party
7. If the counterparty is a related party, reasons for choosing them and details of previous transfers:
Reason: Early termination due to warehouse floor change
Previous transfer details: Not applicable
8. Information if the owner within the last five years was a related party: Not applicable
9. Expected disposal gain (or loss): Not applicable
10. Delivery or payment conditions, restrictive covenants, etc.:
Original lease period: September 21, 2025 to September 20, 2027. Early termination date: May 20, 2026
Delivery/payment conditions: Not applicable
11. Method of determining the transaction, reference basis for price, and decision-making unit:
Method/Price basis: Handled according to the provisions on early termination in the original lease agreement
Decision-making unit: According to the Company's authorization limits
12-22. Professional appraisals and CPA opinions: Not applicable
23. Specific purpose or use of acquisition or disposal: Early termination of lease agreement due to warehouse floor change
24. Dissenting opinions of directors: None
25. Is this a related party transaction: Yes
26. Date of acknowledgment by supervisors or approval by Audit Committee: Not applicable
27. Is this acquisition of real estate or its right-of-use assets from a related party: Yes
28-30. Appraisals under relevant regulations / previous material messages: Not applicable
31. Other specific matters: None
FAQ
What is the content of the announcement by Cathay Financial Holding?
It announces the early termination of a warehouse lease agreement between its subsidiary Cathay Century Insurance and Cathay Life Insurance.
Why was the lease agreement terminated early?
The termination is due to a change in the warehouse floor.
What is the financial impact of this termination?
It results in a decrease of 253,322 TWD in right-of-use assets.