Core Viewpoint - The current venture capital primary market is in a downward cycle, presenting more challenges for both investors and companies, with increasing complexity in balancing investor and company demands [1] Summary by Sections Section 1: Overview of the Equity Financing Handbook - The "Equity Financing Handbook" consists of approximately 100,000 words and 232 pages, divided into two main parts focusing on the process and practical points of equity financing for non-listed companies [4][6] - The first part outlines ten key issues in the equity financing process, from identifying good companies from an investor's perspective to critical terms in investment agreements and negotiation strategies [6][10] Section 2: Key Issues in Equity Financing - The second part delves into essential aspects of equity financing, including internal control systems, equity structure design, writing business plans, selecting investment institutions, and understanding tax risks associated with equity transfers [10][11] - Specific case studies, such as those of "Xiao Ye" and "Logic Thinking," are used to illustrate common equity structure problems and provide insights for designing effective equity structures [11] Section 3: Practical Strategies and Common Challenges - The handbook offers practical strategies for companies to maximize their interests during negotiations, especially when faced with investor demands such as performance guarantees [15][16] - It emphasizes the importance of understanding potential risks in the financing process and provides strategies to address common challenges encountered during equity financing [16]