Ge Long Hui·2026-01-23 09:47Core Viewpoint - China Life Insurance (02628.HK) plans to establish a partnership with Guoshou Qiyuan to invest in the elderly care real estate sector, with a total investment of RMB 8.5 billion [1][2] Group 1: Partnership Details - The partnership agreement is expected to be signed by September 30, 2026, with total contributions amounting to RMB 8.5 billion, where China Life contributes RMB 8,491,500,000 and Guoshou Qiyuan contributes RMB 8,500,000 [1] - Guoshou Qiyuan will act as the general partner, managing the partnership [1] Group 2: Investment Focus - The partnership will focus on investments in the elderly care industry, specifically through acquiring or establishing companies that operate elderly care real estate projects [1][2] - Investment strategies include (a) investing in and holding real estate, (b) leasing real estate, and (c) utilizing public-private partnerships for real estate [1] Group 3: Strategic Objectives - The partnership aims to enhance the construction of the Guoshou Kangyang ecosystem by focusing on both existing elderly care real estate acquisitions and new project developments [2] - The investment approach combines light and heavy asset models, emphasizing strategic allocation, value investment, and long-term investment [2] - Acquiring existing elderly care real estate projects is expected to improve management efficiency and optimize ownership structures, thereby achieving effective risk isolation [2]