Fundraising Summary - As of this week, there were 133 fundraising, investment, listing, and merger events, involving a total amount of 28.337 billion RMB [1] - This week, no new private equity fund managers were registered, and 8 were canceled, bringing the total for the year to 27 [2] - A total of 83 new funds were registered this week, with a total scale of 19.049 billion RMB, the largest being Zhaoying Zhengsheng (Shanghai) Private Fund Partnership, which raised 2.760 billion RMB [2] Investment Summary - There were 30 investment events this week, with 23 disclosing investment amounts totaling 6.98 billion RMB [6] - The largest investment event involved Guotou Chuangye Investment Management Co., leading an investment in Wuxi Zhixian Future Technology Co., amounting to several hundred million RMB [6] - Wuxi Zhixian focuses on engineering intelligent systems driven by multimodal large models, particularly in the semiconductor sector [6] M&A Summary - This week, there were 20 merger and acquisition events, with disclosed transaction amounts totaling 8.590 billion RMB [16] - The largest M&A event was the acquisition of 75% of Zhongjing Investment Holdings by Changjiang Industrial Investment Group for 2.776 billion RMB [16] - Zhongjing Investment Holdings is responsible for managing industrial funds and capital operations in Jingmen City, focusing on various sectors including agriculture, manufacturing, and finance [16] Listing Summary - There were no listing events this week [19]

以下文章来源于真叫卢俊 ，作者真叫卢俊团队 真叫卢俊 . 认认真真聊地产，实实在在谈买房。 厚积薄发。 作者 | 真叫卢俊团队 来源 | 真叫卢俊 不夸张地说，此时此刻的它们，也许未来某一天就是彼时彼刻的北上广们 （ID：zhenjiaolujun0426） 世上唯一不变的就是变化，而年初到现在，国内一个最大的变局 就是一二线城市之间的疯狂博弈 从 杭 州 的 超 新 星 式 爆 发 ， 到 提 问 后 迅 速 做 出 反 应 的 南 京 ， 再 到 拼 命 抢 人 抢 产 业 的 深 圳...... 可见随着这波二线城市的强势崛起，一线的宝座似乎也不那么稳当了 之前我们写过杭州已经接近一线水平，但除了杭州，其实有更多强二线城市逐渐露头 评论区更是引发了一波讨论 而当我们用脚走过这些二线城市，更能深刻感受到它们中有些真的不甘平庸，正努力站 到台前聚光灯下 01 成都：全国楼市一次绝对的异军突起 这两年我们走过最多的城市就是成都 某种程度上，成都确实已经是国内楼市第一城了 数据就是最好证明 3年前商品房成交量取代武汉，从此成为全国第一 去年一二手成交双双拿下全国销冠，超过了上海和北京 而今年一季度月均成交2 . ...

走出一支制造业军团。 作者 I 吴琼 报道 I 投资界PEdaily 一笔校友捐赠，意外让这所合肥211爆红。 事情始于近日合肥工业大学宣布，该校杰出校友、阳光电源董事长曹仁贤个人通过阳光电 源公益基金会向母校捐赠人民币1亿元，今年正是合工大80岁生日。 乍听陌生，合工大却是大佬辈出。曹仁贤，自1 9 8 6年考入合肥工业大学，人生轨迹便开 始变化。4 0年匆匆岁月，他在合工大当过老师，后来又创办阳光电源，如今执掌一家千 亿市值上市公司，登顶合肥首富。 印象中，合工大在中国高校圈中并不起眼。正如外界谈起合肥的大学，往往会首先想起中 国科学技术大学。但透过曹仁贤，我们看到了无论是新能源领域还是造车圈子，都遍布合 工大学子的身影。 " 汽车工业三分天下，合肥工大独占其一 。"这句话放在当下的中国工业时代，沉甸甸。 合肥首富，又给母校捐钱了 " 39 年 前 ， 我 从 家 乡 背 着 行 囊 走 进 向 往 已 久 的 合 肥 工 业 大 学 ， 这 里 是 我 梦 开 始 的 地 方。"演讲中聊起母校，曹仁贤至今记忆犹新。 故事要从198 6年说起。那一年，1 8岁的曹仁贤考上合肥工业大学工业电气自动化专业， ...

Core Viewpoint - The article discusses the upcoming IPO of Hunan Mingming Hen Mang Commercial Chain Co., Ltd., which operates popular snack brands "Lingshi Hen Mang" and "Zhao Yiming Snacks," highlighting the competitive landscape and growth potential in the snack retail industry in China [2][3][7]. Company Overview - Mingming Hen Mang has over 14,000 stores across China, backed by prominent venture capital firms such as Sequoia China and Black Ant Capital [3][9]. - The company was formed through the merger of two leading snack brands, Lingshi Hen Mang and Zhao Yiming Snacks, which had previously engaged in fierce competition [2][7]. Business Model - The operational model of Mingming Hen Mang focuses on "downstream" market penetration and a franchise system, with approximately 58% of its stores located in county and town areas [9]. - The company generates most of its revenue (99.5%) from selling products to franchisees and direct stores, with only a small portion coming from franchise service fees [9]. Financial Performance - The revenue for Mingming Hen Mang was reported at 4.29 billion RMB in 2022, 10.30 billion RMB in 2023, and projected to reach 39.34 billion RMB in 2024, reflecting year-on-year growth rates of 140.2% and 282.2% respectively [10][12]. - The adjusted net profit for the same years was 0.81 billion RMB, 2.35 billion RMB, and 9.13 billion RMB, indicating a compound annual growth rate of 234.6% [10][12]. Market Position - Despite rapid growth, Mingming Hen Mang holds only a 1.5% market share in a highly competitive snack retail sector, facing pressure from established brands and similar business models [15]. - The company has a low gross margin, maintaining a gross margin rate of 7.5% to 7.6% from 2022 to 2024, with a net profit margin increasing from 1.7% to 2.1% [13][14]. Industry Context - The article highlights the significance of Hunan province in the snack food industry, noting that it contributes to a substantial portion of China's snack food production and has produced several successful snack brands [17][19]. - The competitive landscape includes other notable Hunan-based brands that have successfully gone public, reinforcing the region's reputation as a hub for snack food innovation and entrepreneurship [17][18].

Core Insights - Recent policies in Shenzhen and Wuhan allow for up to 100% loss tolerance for government investment funds, encouraging innovation and risk-taking in the entrepreneurial ecosystem [2][6] - The National SME Development Fund has signed a new sub-fund with a total scale of 2 billion yuan, indicating a potential increase in investment activities in the venture capital space [3] - Guangzhou's angel fund has announced partnerships with 12 GP institutions, marking a significant step in the establishment of a 100 billion yuan angel fund [4][5] - Wuhan plans to create a 300 billion yuan mother-son fund cluster to support the development of private enterprises and innovation [6] - Chengdu's industrial fund has exceeded 320 billion yuan, establishing a comprehensive capital support service system for various industries [7] - Zhejiang is preparing a 100 billion yuan future industry fund and a 100 billion yuan merger mother fund to enhance investment in strategic sectors [8] - The establishment of various funds across different regions, including AI, biotechnology, and cultural industries, reflects a growing trend of local governments supporting innovation and entrepreneurship [9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][33][34][35][36][37][38][39][40][41][42][43][44][45][46][47][48][49] Summary by Sections Government Policies - Shenzhen and Wuhan have introduced policies allowing for significant loss tolerance in government investment funds, promoting a culture of innovation and risk acceptance [2][6] - Wuhan aims to develop a 300 billion yuan fund cluster to enhance financing for private enterprises [6] Fund Establishments - The National SME Development Fund has launched a new sub-fund with a total scale of 2 billion yuan, indicating increased investment activity [3] - Guangzhou's angel fund has partnered with 12 GP institutions, contributing to the establishment of a 100 billion yuan fund [4][5] - Chengdu's industrial fund has surpassed 320 billion yuan, creating a robust capital support system for various industries [7] Regional Developments - Zhejiang is preparing a 100 billion yuan future industry fund and a 100 billion yuan merger mother fund to boost strategic investments [8] - Various regions are establishing funds focused on AI, biotechnology, and cultural industries, reflecting a trend of local governments supporting innovation [9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][33][34][35][36][37][38][39][40][41][42][43][44][45][46][47][48][49]

「投资界前哨」系投资界旗下专注创投政策风向、 VC/PE 动态公众号，欢迎关注！ 根据公开信息统计：截至29日下午，本月（4月1日-4月29日）募资动态共28起。 礼来亚洲六期基金完成设立 近日，上海礼澜私募投资基金合伙企业（有限合伙）（简称"礼来亚洲六期人民币基金"或"基 金"）正式完成设立，成为近年来国内市场化募资规模最大的生物医药VC基金。国投先导母基 金作为其重要出资方，为该基金的募资设立过程提供鼎力支持。 自2008年成立以来，礼来亚洲专注投资于中国和美国的生命科学和医疗健康领域，是市场上成 立时间最长、团队规模最大、业绩最受认可的专业医疗基金管理团队之一。截至目前，已管理 了多支美元和人民币基金，合计基金认缴规模超过人民币400亿元。在过去的16年中，礼来亚 洲累计投资了约200家企业，其中约150家位于中国，超过三分之二的项目为创新药企业。 普洛斯募资，投向一个万亿赛道 投资界获悉，普洛斯最新推出的中国数据中心收益基金一期已完成募集，投资规模约26亿人民 币，投资人包括国内领先投资管理公司及知名国际机构投资人，普洛斯担任基金管理人及资产 管理人。 这是普洛斯推出的首个数据中心主题投资策略。普洛斯 ...

Core Viewpoint - Luckin Coffee has appointed Li Hui as the new chairman of the board, marking a significant moment for the company as it aims to execute its current strategic initiatives and drive the next phase of growth [3][5]. Company Overview - Li Hui, the chairman and CEO of Centurium Capital, which is the largest shareholder of Luckin Coffee, has a strong background in investment banking and private equity, having previously worked at Goldman Sachs and Morgan Stanley [5][6]. - Centurium Capital has been a crucial player in Luckin Coffee's journey, especially during its financial scandal, where it continued to invest and stabilize the company's governance and ownership structure [7][9]. Financial Performance - Luckin Coffee reported a total net revenue of 34.475 billion RMB in 2024, a year-on-year increase of 38.4%, with the first quarter of 2024 showing a revenue of 8.865 billion RMB, up 41.2% [11]. - The company achieved a net profit of 525 million RMB in the first quarter of 2024, a significant turnaround from a net loss of 83.17 million RMB in the same period the previous year [11]. Market Position and Expansion - As of the end of Q1 2025, Luckin Coffee had a total of 24,097 stores, with over 60% being self-operated, and a net increase of 1,743 stores in three months [9][11]. - The company has become the largest coffee chain in China, surpassing Starbucks in annual revenue for the first time [11]. Industry Landscape - The Chinese coffee market is experiencing intense competition, with new brands like M Stand, Manner, and Kudi Coffee emerging rapidly, while established brands face challenges [13][14]. - Starbucks has reported a 6% decline in same-store sales in China in Q1 2025, indicating the competitive pressure from local brands [14].

INTERNATIONAL LABOUR DAY H International Labour Day 愿诸君 ...

旅界 . 跟踪时代浪潮，讲述文旅商业好故事。 五一机票没跳水，打工人要破防。 作者 | theodore熙少 以下文章来源于旅界 ，作者theodore熙少 来源 | 旅界 （ID：tourismzonenews） 01 快到五一了，还没有"抄底"买到机票的打工人焦虑情绪正在社交媒体上蔓延。 4月下旬，打开小红书、微博、各大旅游群，"机票怎么还不跳水？"成了热搜评论区的统 一口号。 有网友晒出深圳飞成都的票价，4月23日仍坚挺在全价。 有人在评论区咬牙自嘲："这不是等跳水，这是在等航司反杀。" 有人总结得更直白："航司精准避开五一，这哪是跳水，这是滑水——往后滑。" 评论区更是不乏有大量用户绝望地祭出"反杀熟大法"，祈祷自己想买的机票能顺利"降 价"。 4月是"机票等等党"的最后阵地，他们守在小红书评论区，像猎人盯着猎物： "明天会便宜吧？" 于是，这场航司与消费者之间的博弈还在持续，没买票的消费在等着"捡漏契机"，航司 则不动声色，一场全新的赌局形成了。 02 今年五一，为什么便宜机票越来越难等了？ "结果是，每一晚睡前刷票价，第二天起床一看，票又特么涨了。" 数据不会说谎，民航飞行数据App飞常准显示，今 ...

天天IPO . 投资界（PEdaily.cn）旗下，专注IPO动态 以下文章来源于天天IPO ，作者王露 欢迎加入投资界读者群 来自安徽。 作者 I 王露 报道 I 投资界-天天IPO 始祖鸟"平替 "赴港IPO了。 投资界-天天IPO获悉，近日户外运动品牌伯希和正式向港交所递交招股书，中金公司和 中信证券为联席保荐人。 成立2 0 12年，伯希和身后是一对白手起家的 7 0后夫妻——刘振与花敬玲。彼时，两人瞄 准冲锋衣品类，开始伯希和创业之路。 乘着电商和户外运动的东风，伯希和迅速崛起， 曾凭借始祖鸟"平替"标签爆红，如今一年卖出1 7亿元。 至今，伯希和身后站着腾讯和启明创投。"中产有三件宝"，随着始祖鸟正在席卷中国中 产，伯希和也悄悄走到了IPO大门前。 夫妻联手 始祖鸟「平替」要IPO了 公开资料显示，伯希和创始人刘振与花敬玲鲜少露面。从不多的信息中，大致可以勾勒出 夫妻俩的创业生涯——刘振出生于 1 971年，与妻子花敬玲在服装行业摸爬滚打多年，从 北京大兴一家个体服装加工部起家。 2 0 1 2年，彼时户外运动并未像如今这般火爆，刘振敏锐地察觉到其中商机，于是在北京 创立伯希和，后将公司注册地设在 ...