"China Life, the 'leader in life insurance,' plans to invest 4 billion yuan to establish a private equity fund, focusing on areas such as artificial intelligence."

"China Life, the 'leader in life insurance,' plans to invest 4 billion yuan to establish a private equity fund, focusing on areas such as artificial intelligence."

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China Life announces major equity investment plan.

China Life Insurance Company Limited (hereinafter referred to as "China Life") issued an important announcement on January 23, 2026, stating that the company intends to act as a limited partner and jointly establish a partnership enterprise with multiple parties.

This means that the "insurance giant" is expanding its investment layout in strategic emerging industries.

Establishing a Professionally Structured Partnership Enterprise

According to the announcement, China Life, Pudong Venture Capital, SDIC Leading Investment, and China Life Foundation (all as limited partners), intend to enter into a partnership agreement with Chuangzhi Herui (as general partner) and Lingzhi Ying Shanghai (as special limited partner) to establish a partnership enterprise.

All partners of this partnership enterprise have committed a total capital contribution of 5.0515 billion yuan, among which China Life's committed contribution is 4 billion yuan.

In terms of management structure, China Life Capital will act as the manager of the partnership enterprise. Meanwhile, China Life also plans to enter into a supplementary agreement with relevant parties to revise certain terms of the partnership agreement applicable to the company. It is expected that China Life will formally sign the partnership agreement and the supplementary agreement with relevant parties before June 30, 2026.

Defining Operating Period and Investment Strategy

The announcement clarifies the partnership enterprise's operating period and investment strategy. The operating period of the partnership enterprise is from the date the business license is first issued to ten years after the first closing date. Of these, the first five years from the closing date are the investment period, and the following five years are the exit period. With the unanimous consent of all partners, the term may be extended twice, each extension being one year.

This fund mainly invests in growth-stage or strategic emerging industry enterprises through direct equity investment, focusing on the three leading sectors: artificial intelligence, integrated circuits, and biomedicine. The announcement specifically states that the proportion allocated to the artificial intelligence sector will not be less than 70% of the actual paid-in capital.

Establishing a Dual-Committee Governance Mechanism

For its governance structure, the partnership enterprise will set up an Investment Decision Committee and an Investment Advisory Committee. The Investment Decision Committee will consist of seven members appointed by the manager, China Life Capital. The Investment Advisory Committee will have five members, each appointed by China Life, Pudong Venture Capital, SDIC Leading Investment, Lingzhi Ying Shanghai, and China Life Capital.

China Life explained the nature of this transaction in its Hong Kong Stock Exchange announcement. The group company is both the controlling shareholder of the company and the indirect controlling shareholder of China Life Capital, while China Life Foundation and Chuangzhi Herui are both its wholly-owned subsidiaries. Therefore, this transaction constitutes a related-party transaction under Chapter 14A of the Listing Rules.

Since one or more of the applicable percentage ratios for this transaction exceeds 0.1% but is less than 5%, it must comply with reporting and announcement requirements, but is exempt from independent shareholder approval requirements.

China Life Asset's "Patient Capital" Successful Exit Paradigm

It is worth noting that China Life Asset has successful exit experience in the alternative investment field. According to the latest announcement, recently, Guodian Nuclear Energy Co., Ltd. successfully went public through a major asset restructuring by a listed company, which marks China Life Asset's first alternative equity project exit via this method.

This project is a typical case of China Life Asset's "patient capital" approach. As early as seven years ago, China Life Asset contributed 8 billion yuan in additional investment to Electric Power Investment Nuclear Energy, accompanying the enterprise over the long term and helping its green innovation development and debt reduction.

This asset securitization realized through asset restructuring not only signifies an important breakthrough in China Life Asset’s full-cycle management capabilities in fundraising, investing, managing, and exiting, but also validates its long-term and value investment strategies, providing valuable experience and reference for current and future fund operations.

Risk Warning and DisclaimerThe market has risks, and investment needs to be prudent. This article does not constitute personal investment advice, nor does it take into account the specific investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular circumstances. Investments made accordingly are at your own risk.

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