The emergence of the private equity rebalancing trajectory at the hundred-billion level, focusing on listed companies' profit growth and proactive deployment.

People’s Finance News, April 3—According to Private Equity Pai Pai Wang statistics, based on the disclosed 2025 annual reports of listed companies, there are 25 private equity firms with billion-yuan-scale strategies, whose products appear in the top ten circulating shareholders list of 60 companies in total, holding a combined market value of RMB 28.185 billion. Judging from the buying-in actions, a number of listed companies with “new engines” for earnings growth have attracted private equity firms—for example: as of the end of 2025, Gao Yi Asset’s fund manager Feng Liu’s Gao Yi Lin Shan No. 1 Yu Wang Fund increased its holdings in China Molybdenum New Material for two consecutive quarters; in the fourth quarter, products under UOB Asset Management entered the top ten circulating shareholders list of Aiding Lighting; and products under Renqiao Asset increased their holdings in Cheng Tou Holding during the same period, among others. In the view of industry insiders, as the effects of policy gradually become apparent, incremental capital continues to flow into equity assets; looking ahead, a market driven by profit growth is expected to be further played out. (Shanghai Securities News)