Group 1 - The core viewpoint of the article emphasizes the orderly promotion of mergers and acquisitions among small financial institutions, indicating a trend towards consolidation in the financial sector, with 2025 potentially marking the beginning of a significant clearing of financial institutions [1][2][7]. - The article highlights various recent cases of consolidation across different financial sectors, including the merger of CICC with Dongxing and Xinda in the securities industry, and the acquisition of Jun Kang Life by Fuze Life initiated by Shandong state-owned assets [5][6]. - It notes that the clearing of small financial institutions is fundamentally due to an oversupply of financial resources, driven by the need to manage risks, leading to a trend where stronger institutions will dominate [7][8]. Group 2 - The article discusses the current state of the private equity industry, noting a lack of new standout private equity firms emerging, as many have faced challenges in maintaining their platforms and sales channels [6]. - It suggests that the long-term outcome of clearing excess homogeneous supply will optimize resource allocation across society, which is beneficial in the mid to long term [8]. - The article advises investors to be cautious about the risks associated with smaller institutions and to seek those with differentiated advantages for sustainable growth [9].