CCHT(SZ:000661) Cai Jing Wang·2025-06-24 08:49Core Insights - The number of private equity investment funds registered with the Asset Management Association of China (AMAC) decreased by 19% month-on-month but increased by 40% year-on-year, totaling 353 funds as of May 2025 [1] - The total subscribed capital from institutional limited partners (LPs) reached approximately 68.41 billion yuan, a decrease of 47% compared to the previous month [1] LP Type Distribution - Corporate investors accounted for the highest activity among LPs, with 39% of contributions, while government funds represented 37% [3] - Government funds maintained the largest contribution amounting to approximately 36.94 billion yuan, which is 54% of the total, despite a 58% decrease from the previous month [3] LP Regional Distribution - Jiangsu province led in LP contributions with 119 instances, followed by Zhejiang and Guangdong with 88 and 83 instances respectively [6] - In terms of subscribed capital, Jiangsu and Zhejiang contributed 11.2 billion yuan and 10.6 billion yuan respectively, with Guangdong, Sichuan, and Shanghai each contributing over 5 billion yuan [6] Active LP Rankings - The most active LPs in May included the Guangxi Investment Guidance Fund and Jiangsu Strategic Emerging Industry Mother Fund, with the highest subscribed capital from the Industrial Trust contributing 2.5 billion yuan to the Ningbo Meishan Free Trade Port Area Fund [10][12] - The top 10 LPs by the number of funds invested in are listed, with Guangxi Investment Guidance Fund leading with 3 funds [10] Government Funds - Government LPs made 219 contributions in May, a decrease of 19% month-on-month, with a total subscribed capital of approximately 36.94 billion yuan, down 58% from the previous month [13] - The Guangxi Investment Guidance Fund was the most active government LP, participating in 3 funds [15] Public Companies - In May, 20 public companies participated in 15 registered funds, with a total subscribed capital of approximately 1.52 billion yuan, showing a decline in both activity and scale compared to the previous month [19] - Changchun High-tech Industry Group was the highest contributor among public companies, investing 350 million yuan [21] Financial Institutions - A total of 17 financial institutions participated in 17 registered funds in May, with disclosed subscribed capital of approximately 5.69 billion yuan, showing stable activity compared to the previous month [23] - The most active financial institution was Industrial International Trust, contributing 2.5 billion yuan [24]