HK Stock Market Move | Internal insurance stocks continue to rise, and insurance companies participating in investments in technology companies may become representatives of patient capital.

Domestic insurance stocks continue to rise. As of press time, China Life Insurance (02628) rose by 6.79% to HKD 30.18, New China Life Insurance (01336) rose by 5.95% to HKD 51.85, The People's Insurance (01339) rose by 5.51% to HKD 5.55, and Ping An Insurance (02318) rose by 2.29% to HKD 58.15. On the news front, there has been a continuous wave of IPOs by domestic hard technology companies recently. Two tech unicorn companies, Changxin Technology and Yushu Technology, have both received investments from insurance funds: Changxin Technology's shareholders include Harmony Health, Sunshine Life, China Post Life, China Life Investment, PICC Capital, and PICC Innovation, with a total direct shareholding of 3.96%; after penetrating Yushu Technology shareholders include China Life Insurance, Ping An Life, New China Life, Taikang Life, PICC Life, Taikang Life, and friends etc. More than 30 insurance companies. Guosen released a research report stating that insurance funds are transitioning from traditional "long-term bond matching high dividend stocks" defensive equity allocation to a compound equity system of "long-term bonds, secondary market base positions, and primary market hard technology pre-layout." The bank pointed out that with the long-term and stable liability characteristics, insurance funds naturally match the long-term nurturing needs of technology companies and become representatives of "patient capital".