“险资标杆”鸿鹄基金，“敲定”925亿本金

Group 1 - The core point of the news is the establishment of the "Guofeng Xinghua Honghu Zhi Yuan Phase III Private Securities Investment Fund No. 1" with a total scale of 22.5 billion RMB, where Xinhua Insurance will contribute 11.25 billion RMB [1][2] - The third phase of the Honghu Fund may include external investors, differing from previous phases which were solely funded by China Life and Xinhua Insurance [2] - The fund will focus on investing in large-cap blue-chip stocks with good corporate governance, stable operations, and relatively high dividend returns, aiming for long-term and sustainable investment returns [3] Group 2 - The Honghu Fund has previously held significant stakes in companies such as China Telecom, Yili Group, and Shaanxi Coal and Chemical Industry, with current market values of approximately 5.98 billion RMB, 4.29 billion RMB, and 2.30 billion RMB respectively [4] - The stock prices of these companies are performing well, with China Telecom near its yearly high and Yili Group slightly above the median, while Shaanxi Coal is at a lower price point compared to the past year [4]