

Group 1 - Core viewpoint: Xinhua Insurance plans to invest up to 15 billion yuan in a private equity fund managed by Guofeng Xinghua, focusing on large listed companies in the CSI A500 index [1] - The fund's total size is set at 22.5 billion yuan, with Xinhua Insurance and China Life each contributing 11.25 billion yuan [1] - The investment aligns with national policies promoting long-term capital market entry and reflects the company's strategy of long-term, value, and prudent investment [1] Group 2 - The fund subscribed by Xinhua Insurance is part of the third batch of pilot projects for long-term stock investments by insurance funds [2] - The first batch of pilot projects was approved in October 2023, with Xinhua Insurance and China Life each investing 25 billion yuan in a 50 billion yuan fund [2] - The total amount for long-term investment pilot projects will increase to 222 billion yuan after the approval of the third batch [2]