Heavily invested in four industries, closely monitoring three competition tracks, the route map for the adjustment of private equity funds totaling billions emerges.

With the disclosure of the A-share annual reports entering a period of high intensity in 2025, the holdings map of billion-level private equities is gradually becoming clear. In the fourth quarter of 2025, the A-share market experienced a double test of internal and external environment, and the operations of billion-level private equities showed distinct characteristics: overall holdings remained stable, the direction of key additions was clear, and there was a preference for the electronic, basic chemical, pharmaceutical and biotechnology, and petroleum and petrochemical industries. Recent research trends have revealed the predictions of billion-level private equities for the future market. Data from the Good Buy Fund Research Center shows that by the end of February 2026, the camp of billion-level private equities has expanded to 129 companies. Even in February, when there is the Chinese New Year holiday, 37 billion-level private equities were still actively researching, with a total of 100 listed companies researched, covering 19 industries. The heat and focus of the research clearly point to the three core sectors - electronics, machinery equipment, and pharmaceuticals and biotechnology. These three industries together accounted for more than 60% of the research frequency, becoming the main battlefield for billion-level private equities to find investment opportunities.