China Life forms partnership for nuclear power investments

China Life Insurance Company Limited announced it will join CNNP and China-Russia Nuclear Industry Fund as a limited partner in a new partnership with Guangzhou Jinhong and CNNC-IFMC. The partnership's total capital contribution will be RMB1,501,000,000, with China Life contributing RMB1,200,000,000. The partnership aims to make equity investments in nuclear power companies located in the PRC, supporting the growth of clean energy. China Life Jinshi, an indirect subsidiary of China Life's controlling shareholder CLIC, will manage the partnership. The six-year investment period will be followed by a four-year exit period, with a possible one-year extension. The move is classified as a connected transaction under Hong Kong Listing Rules, subject to reporting and announcement requirements but exempt from independent shareholders' approval.