Group 1 - The core point of the news is that Guoyuan Securities has launched a new fund, the Jian'an Civil Aviation Qixin Fund, with a total scale of 1 billion RMB, focusing on investments in the new generation information technology industry and its upstream and downstream sectors [2][3][4] - The fund's management is handled by Guoyuan Equity, a wholly-owned subsidiary of Guoyuan Securities, and it has completed the necessary registration and obtained a business license [3][4] - The fund's limited partner (LP) lineup has changed, with the original LP, Anhui Civil Aviation Asset Management Co., exiting due to "personal reasons," and Guangxi Guiding Fund being introduced as a new LP [2][4] Group 2 - The fund's total duration is set for 7 years, with an investment period of 4 years and an exit period of 3 years, which can be extended twice for up to 1 year each, subject to partner approval [3][4] - The updated contribution amounts show that Guoyuan Equity's commitment has increased from 300 million RMB to 350 million RMB, raising its stake to 35% [4][5] - The Jian'an Civil Aviation Qixin Fund will primarily invest in strategic emerging industries such as new displays, smart terminals, industrial internet, 5G/6G, cloud computing, big data, and quantum technology [5][6] Group 3 - The trend of securities firms actively establishing private equity funds continues into 2025, driven by policy support, business development needs, and resource integration [2][6] - The establishment of new funds by various securities firms indicates a growing interest in private equity investment, with a focus on technology innovation and strategic industries [6][9] - The evolving regulatory environment and the development of a multi-level capital market system are creating favorable conditions for securities firms to engage in private equity investment, potentially becoming a new growth point for their performance [9][10]