China Life Asset Management Company: Actively striving to obtain the qualification for long-term investment of insurance funds in the third phase pilot project.

Recently, the central bank, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission jointly launched a series of financial policies. Li Yunze, the Director of the China Banking and Insurance Regulatory Commission, stated that they are planning to approve an additional 60 billion Yuan for long-term investment pilot projects with insurance funds. According to China Life Asset Management Company, the company is currently striving for eligibility for the third phase of the long-term investment pilot project with insurance funds. Once approved, they will actively enter the market and play a leading role. China Life Asset Management Company also stated that they will fully utilize the functions of the Honghu Fund Phase I and Phase II to stabilize expectations, investments, markets, and the economy, further nurturing and expanding long-term and patient capital, and channeling funds into policy-supported areas. The risk factor for stock investments has been reduced by 10%, directly lowering the risk capital occupation of equity assets by insurance companies, releasing more funds for stock market investments. With the background of the previous policy increase in the limit for the proportion of equity investments by insurance funds, insurance companies are expected to increase their allocation to high-growth sectors and enhance liquidity in the capital market.