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Group 1 - In October 2025, there were 12 new registered private equity and venture capital fund managers, marking a 20% year-on-year increase and a 200% month-on-month increase [1] - A total of 394 new private equity and venture capital funds were registered, with 127 private equity funds and 267 venture capital funds, reflecting a 29.3% decrease compared to September but a 54.5% increase compared to the same period in 2024 [1] - The domestic primary equity investment market recorded 457 financing events, a slight year-on-year increase of 8.0% but a 33.4% month-on-month decrease, with a total disclosed financing amount of approximately 42.88 billion yuan, representing a year-on-year increase of 118.4% [1] Group 2 - Guotai Junan Venture Capital, a wholly-owned subsidiary of Guotai Haitong Securities, manages over 130 billion yuan in various alternative assets, focusing on emerging technologies, biomedicine, green development, consumer innovation, and military aerospace [3][4] - The newly established Qihang Venture Capital Fund has a registered capital of 400 million yuan, with 90% contributed by the Lingang New Area Fund, and aims to invest in early-stage startups in sectors like integrated circuits and new energy vehicles [3][4] - In October, Guotai Junan Venture Capital disclosed 9 equity investment events, the highest since December 2024, indicating a significant increase in investment activity compared to previous months [4] Group 3 - A-round investments are the primary focus for Guotai Junan Venture Capital, targeting companies in rapid expansion that have undergone technical or commercial validation, with seed projects and Pre-IPO projects making up 22.2% and 11.1% of investments, respectively [6] - The new materials sector accounted for 44.4% of the projects invested in by Guotai Junan Venture Capital, while advanced manufacturing projects made up about 33.3%, aligning with industry trends [9] - Approximately 66.6% of the invested companies are registered in the Yangtze River Delta region, which is known for its robust industrial foundation and rich innovation resources [11] Group 4 - Guotai Junan Venture Capital participated in the Pre-IPO round of Hanbo Semiconductor, which is preparing for an A-share IPO, with the funds aimed at accelerating the development of next-generation cloud GPUs and edge computing chips [14]