Core Viewpoint - The company aims to establish 18 pilot city funds this year, focusing on industries that align with national strategies and technological revolutions, while actively promoting investment in scientific and technological innovation projects [1] Group 1: Investment Strategy - The company emphasizes a three-pronged approach: implementing national strategies, serving the real economy, and managing financial risks [1] - The company has begun exploring debt-to-equity swaps for investments in the technology sector since 2020, identifying technology innovation as one of its four key business areas in its 2022-2024 development plan [3][4] - The company has signed cooperation agreements with 18 pilot cities, with an intended fund scale exceeding 400 billion, and has established 10 pilot funds, investing in multiple projects [3] Group 2: Support for Technological Innovation - The company invested 100 million yuan in the domestic GPU leader, Moer Technology, through its subsidiary, marking the first peer fund in the self-managed blind pool category [2] - The expansion of the pilot program to 18 cities is seen as significant for enhancing support for technological innovation, leveraging the advantages of large state-owned commercial banks [2][3] - The company aims to provide comprehensive financial services to technology enterprises, covering various financial needs such as equity, loans, bonds, insurance, and leasing [3] Group 3: Research and Development - The company prioritizes research-driven investment strategies, focusing on specialized sectors such as information communication, advanced manufacturing, and agricultural technology [4] - A differentiated investment business system has been established based on the lifecycle of enterprises, enhancing project operation quality and risk management capabilities [4][5] Group 4: Fund Management and Collaboration - The company plans to accelerate the establishment of new fund projects and strengthen cooperation with pilot cities, optimizing mechanisms for resource allocation and risk management [6] - The company aims to build a diverse collaboration network with industry leaders and investment institutions to explore new investment opportunities [6][7] - A series of supportive policies have been implemented by the Agricultural Bank's headquarters to enhance the operational quality of the pilot investment business [7]