The path of billions in private placement repositioning has emerged, anchoring the positive layout of listed company profit growth.

According to the statistics of the private equity ranking website Papi, based on the disclosed annual reports of listed companies in 2025, there are a total of 25 private equity products under the management of billion-dollar level private equity firms that appear in the list of the top ten circulating shareholders of 60 companies, with a total market value of 28.185 billion yuan. Judging from the increase in positions, many listed companies with "new engines" for performance growth are favored by private equity firms. For example, by the end of 2025, Feng Liu, the manager of Gaoyi Asset Management, added positions in Zhongweixin Materials for two consecutive quarters, and Rongyang Investment's products entered the top ten shareholders of Debang Lighting in the fourth quarter, while Renqiao Asset's products added positions in Chengtou Holdings at the same time. In the view of industry insiders, as the effects of policies gradually appear and incremental funds continue to flow into equity assets, it is expected that the profit-driven market trend will further develop in the future.