Core Viewpoint - The article provides an overview of the performance and distribution of private equity firms in China, highlighting the concentration of firms in major cities and their respective performance metrics for the year 2025 up to October [2][3]. Group 1: Private Equity Firm Distribution - As of October 2025, there are 7,586 private equity firms in China, with 5,479 located in first-tier cities (Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou), accounting for 72.22% of the total [2]. - Shanghai has the highest number of top-tier private equity firms (108), followed by Beijing (57) and Shenzhen (26) [2]. Group 2: Performance Metrics by Region - In Beijing, 745 products showed an average return of 29.54% from January to October 2025 [3]. - Shanghai's 1,519 products had an average return of 28.36% during the same period [3]. - Guangzhou's 288 products achieved an average return of 34.05% [3]. - Shenzhen's 884 products reported an average return of 31.67% [3]. - Hangzhou's 330 products had the highest average return at 36.48% [3]. Group 3: Top Performing Private Equity Firms - In Beijing, the top three performing firms are Beijing Xiyue Private Equity, Beiheng Fund, and Huacheng Private Equity [5]. - Shanghai's top three firms are Hengsui Asset, Haiseng Fund, and Jiugao Investment [9]. - Guangzhou's leading firms include Jingyan Private Equity, Hainan Xiangyuan Private Equity, and Zeyuan Investment [13]. - Shenzhen's top performers are Qiantou Investment, Fuyuan Capital, and Shenzhen Zeyuan [18]. - Hangzhou's leading firms are Nongfu Private Equity, Haokun Shengfa Asset, and Berkshire Investment [23]. Group 4: Notable Characteristics of Top Firms - Beijing Xiyue Private Equity has a management scale of approximately 416 million and a standout product with a high return [7][8]. - Hengsui Asset in Shanghai has a management scale of about 88 million and is noted for its strong performance [12]. - Jingyan Private Equity in Guangzhou focuses on technology innovation and advanced manufacturing [16]. - Qiantou Investment in Shenzhen emphasizes value growth and market dynamics [21]. - Nongfu Private Equity in Hangzhou has a management scale of approximately 553 million and maintains a focus on technology [25]. Group 5: Other Regions - Outside the major cities, there are 2,107 private equity firms, with an average return of 25.93% for 1,294 products [26]. - The top firms in these regions include Luyuan Private Equity, Mingze Investment, and Yidian Najin (Quanzhou) Private Equity [31].