China Life Insurance Company (02628) announced that the company, along with Pudong Venture Capital, SDIC Pioneer, and China Life Infrastructure (all acting as limited partners), intends to enter into a partnership agreement with Create Intelligence & Rui (as the general partner) and Lead Intelligence Win Shanghai (as the special limited partner) to establish a partnership enterprise. The total capital commitment from all partners of the partnership enterprise is RMB 5.052 billion, of which China Life's commitment is RMB 4 billion. China Life Capital will act as the manager of the partnership enterprise.
The partnership will primarily invest in technology innovation companies within three leading industries: artificial intelligence, integrated circuits, and biomedicine. Notably, no less than 70% of the partnership's paid-in capital is earmarked for investments in the artificial intelligence sector, with a key focus on areas including, but not limited to, AI chips, AI software, AI infrastructure, and AI-plus applications centered around the "5+6" vertical domains (i.e., five key areas undergoing fundamental shifts in core technology logic, such as smart terminals, scientific AI, online new economy, autonomous driving, and embodied intelligence, along with six key industries demonstrating significant enabling and driving effects, namely finance, education, healthcare, cultural media, smart manufacturing, and urban governance).
The partnership aims to concentrate on new opportunities for "technological innovation and industrial upgrading" led by artificial intelligence in the Yangtze River Delta region, focusing its investments through equity participation in AI technologies and related applications, as well as other scientific and technological innovation industries, including integrated circuits and biomedicine.
The establishment of the partnership seizes the historic opportunity presented by China's AI development, synergizing with Shanghai's comprehensive industrial advantages as a megacity and focusing on the themes of breakthroughs in AI technology and application-driven growth. This transaction aligns with national strategic directives, aids in enhancing the investment returns of insurance funds, and meets the allocation needs of such capital.
The transaction will also effectively assist the company in capturing investment opportunities arising from technological innovation and development, improve the quality and returns of its equity investment portfolio, and strongly propel the construction of the China Life technology ecosystem.
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