AIMA TECHNOLOGY GROUP CO.(SH:603529) FOFWEEKLY·2025-10-29 10:04Core Viewpoint - Industry giants are returning to the market, investing to seize opportunities in the next technological transformation [2][3] Group 1: Investment Activities - Aima Technology announced its investment of 32.4 million RMB in a venture capital fund, becoming a limited partner (LP) with a 29.9861% stake [6][8] - The fund will focus on equity investments, particularly in low-altitude economy sectors, indicating Aima's strategic positioning in short-distance electric mobility [6][8] - Aima's previous LP involvement in 2022 with Chen Dao Capital also targeted sectors like new energy and semiconductors, showcasing a consistent investment strategy [8] Group 2: Market Trends - The primary market is experiencing a revival, with LP investment activity reaching a peak in September, showing a 40.3% month-on-month increase and a 38.3% year-on-year increase [11] - In Q3, LP investment activity grew by 9.9% quarter-on-quarter and 11.9% year-on-year, indicating structural improvements driven by policy support [11][12] - The number of newly registered private equity and venture capital funds in September surged by 51.4% month-on-month and 84.4% year-on-year, reflecting a significant recovery in market activity [11] Group 3: Strategic Shifts - Major tech companies like Tencent, Alibaba, and JD.com are increasing their investment pace in the primary market, signaling a consensus on market recovery [12] - Companies in the technology sector, including CATL and Kanglong Chemical, are actively investing in funds that focus on robotics and artificial intelligence, highlighting a shift towards hard technology sectors [12][13] - The urgency in investment stems from a deep-seated industry anxiety, with companies aiming to secure positions in critical technological areas to mitigate supply chain risks and seize strategic opportunities [13] Group 4: Future Outlook - The industry is entering a phase of "quality improvement and quantity reduction," with a more rational approach to investments following recent market cycles [13] - The dual drivers of industrial capital and policy benefits suggest that 2025 could be a pivotal year for the venture capital industry, marking a transition to high-quality development [13][15] - Despite ongoing challenges, the consensus among industry players is that the wave of technological innovation is bringing positive market signals [15][16]