China Life Insurance (02628): Subsidiary plans to establish partnerships with SDIC Pioneers and other investors to focus on investing in key areas such as the three leading industries in Shanghai

According to Zhitong Finance App, China Life Insurance (02628) announced that pension insurance companies (non-wholly-owned subsidiaries of the Company), property insurance companies (non-wholly-owned subsidiaries of group companies) and other investors (all parties are limited partners) intend to enter into a partnership agreement with SDIC Pilot and other parties (all parties are general partners) before December 31, 2026 to establish a partnership. The total amount of capital to be pledged by all partners of the partnership is RMB 20 billion, of which the pension insurance company plans to pledge RMB 2 billion. The SDIC pilot will act as the manager of the partnership.

Partnerships invest in stocks and incremental assets in the three leading industries (integrated circuits, biomedicine, and artificial intelligence) in Shanghai through share succession, direct equity investment (including but not limited to capital increases, share transfers, mergers and acquisitions), and investment methods such as strategic placement, targeted issuance, bulk transactions, and agreement transfers.

The partnership focuses on investing in key areas such as Shanghai's three leading industries (integrated circuits, biomedicine, and artificial intelligence), focusing on undertaking industrial fund shares and focusing on major national strategic projects that focus on investing in major strategies. The Group's participation in related investments can cover leading enterprises in the three leading industries in Shanghai in batches, and investment opportunities are scarce. A significant increase in the level of self-reliance and self-improvement in science and technology is one of the main goals of the country's economic and social development during the “15th Five-Year Plan” period. This transaction is a strong demonstration of the Group's implementation of major articles on technology finance and supporting the country's scientific and technological self-reliance. It meets the needs of insurance fund allocation and helps increase the return on investment of insurance funds.