I'm LongbridgeAI, I can summarize articles.This "life insurance giant" is expanding its investment layout in strategic emerging industries
China Life announced a major equity investment plan.
China Life Insurance Co., Ltd. (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 to jointly establish a partnership with multiple parties.
This means that this "insurance giant" is expanding its investment layout in strategic emerging industries.
Establishing a Professionally Structured Partnership
According to the announcement, China Life, Pudong Venture Capital, State Investment Leading, and China Life Foundation (all acting as limited partners) intend to enter into a partnership agreement with Chuangzhi and Rui (as the general partner) and Lingzhiying Shanghai (as the special limited partner) to establish a partnership.
The total subscribed capital contribution from all partners of the partnership is 5.0515 billion yuan, of which China Life's subscribed capital contribution is 4 billion yuan.
In terms of management structure, China Life Capital will act as the manager of the partnership. At the same time, China Life also intends to enter into supplementary agreements with relevant parties to make applicable revisions to certain terms in the partnership agreement. It is expected that China Life will formally enter into the partnership agreement and supplementary agreements with relevant parties by June 30, 2026.
Clarifying Operating Period and Investment Strategy
The announcement clarified the operating period and investment strategy of the partnership. The operating period of the partnership is from the date of the first issuance of the business license to the date ten years after the first delivery date. Among them, the first five years from the first delivery date is the investment period, and the next five years from the end of the investment period is the exit period. With the unanimous consent of all partners, the partnership period can be extended twice, each time for one year.
The fund mainly invests in growth-stage enterprises or strategic emerging industries through equity investment in the form of equity stakes, focusing on technology innovation enterprises in three leading industries: artificial intelligence, integrated circuits, and biomedicine. The announcement specifically pointed out that the proportion of investment in the field of artificial intelligence will not be less than 70% of the paid-in capital.
Establishing a Dual Committee Governance Mechanism
In terms of governance structure, the partnership will establish an investment decision-making committee and an investment advisory committee. The investment decision-making committee consists of seven members appointed by the manager, China Life Capital. The investment advisory committee consists of five members, with each of China Life, Pudong Venture Capital, State Investment Leading, Lingzhiying Shanghai, and China Life Capital appointing one member.
Defined as a Related Party Transaction Requiring Disclosure
China Life explained the nature of this transaction in its Hong Kong stock announcement. The group company, as the controlling shareholder of the company, is also the indirect controlling shareholder of China Life Capital, while China Life Foundation and Chuangzhi and Rui are both wholly-owned subsidiaries. Therefore, this transaction constitutes a related party transaction under Chapter 14A of the listing rules.
Since one or more percentage ratios applicable to this transaction exceed 0.1% but are less than 5%, it must comply with disclosure and announcement regulations but is exempt from the requirement for independent shareholder approval.
Successful Exit Model of "Patient Capital" by China Life Asset
It is worth noting that China Life Asset has successful exit experience in the alternative investment field. According to the latest announcement, recently, State Power Investment Nuclear Power Co., Ltd. successfully went public through a major asset restructuring of a listed company, which is also the first alternative investment equity project for China Life Asset to achieve an exit in this way This project is a typical example of China Life Asset's role as "patient capital." As early as seven years ago, China Life Asset invested 8 billion yuan to increase its stake in China National Nuclear Power, accompanying the company's growth over the long term and supporting its green innovation development and debt reduction efforts.
The asset securitization achieved through this asset restructuring not only marks an important breakthrough in China Life Asset's comprehensive management capabilities across the entire cycle of "raising, investing, managing, and exiting," but also validates the effectiveness of its long-term investment and value investment strategies, providing valuable experiential references for this and future fund operations