掘金“GPU双雄”险资布局硬科技版图浮出水面

Core Insights - The recent IPOs of domestic GPU companies, Moore Threads and Muxi Co., have reignited market interest in the hard technology sector, with insurance funds actively investing through private equity channels [1] Group 1: Investment Activity - Muxi Co. has become the "most profitable new stock" post-IPO, with at least 13 insurance institutions among its investors [2] - China Life's Shenzhen Technology Innovation Private Equity Fund holds 341.7 thousand shares of Muxi, representing 0.85% of the company post-IPO [2] - Shenzhen Hancheng Venture Capital, a significant shareholder of Muxi, has 12.5 million shares, accounting for 3.13%, with multiple insurance firms involved in its partnerships [2] Group 2: Insurance Fund Strategies - Insurance funds are increasingly establishing or participating in private equity funds focused on technology investments, such as China Pacific Insurance's 30 billion yuan fund targeting Shanghai's modernization [4] - In Q3, insurance funds became major shareholders in over 300 listed companies, with manufacturing being the most represented sector, involving more than 200 stocks and a total market value exceeding 45 billion yuan [4] - Insurance asset management can invest across various asset classes, providing comprehensive financing solutions for technology innovation [4] Group 3: Growth in Technology Investment - China Insurance Asset's technology finance investment has grown nearly 30% year-on-year, focusing on AI, computing, biomedicine, and machinery [5] - The company emphasizes its long-term advantages in AI core areas, including computing power, algorithms, and data [5] Group 4: Challenges and Recommendations - There are inherent conflicts between the cautious investment principles of insurance funds and the high-risk nature of technology innovation, necessitating a balance [6] - Recommendations include optimizing investment strategies, transforming insurance business structures, and establishing a risk control system tailored to technology investments [6]