This year, special funds have made 22 acquisitions, preferring assets with low valuation and low volatility.

The risk capital bravely launched a takeover bid. Recently, Hongkang Life Insurance bought shares of Honghua Smart Energy, a Hong Kong-listed company, through the Hong Kong Stock Connect secondary market, increasing its stake to 5%, triggering a takeover bid. Information disclosed by the China Insurance Industry Association shows that this year, insurance capital has launched takeover bids 22 times. Data shows that insurance capital prefers assets with lower valuations, lower volatility, higher dividends, and higher performance certainty.