Product performance fell back by 38.53%, the latest response from the once-billion private equity manager.

In recent days, an internal communication message from well-known subjective stock private equity fund Soochow Investment's founder, Tong Xun, has been widely circulated in the industry. This veteran private equity player, who once raised management scale to hundreds of billions with consumer stock investments, candidly admitted that he has significantly reduced consumer holdings and shifted the main battlefield to the AI industry chain, especially the optical module track. In response to market doubts about Soochow Investment's "style drift" or "over-concentration of bets," the responsible person of Soochow Investment told a reporter from China Securities Journal, "In March, we reduced some consumer holdings, increased AI industry chain holdings, and the facts have proven to be correct. The AI industry chain has had a number of positions since last year, it's just a little more now than before." The person in charge said, "We have never only bought consumer stocks, the company has always had TMT researchers, and our performance has significantly recovered in the past two weeks." The latest data obtained by the reporter of China Securities Journal shows that one of the representative products under the private equity fund, established in 2016, has seen a significant drawdown since reaching its net value peak on August 29, 2025, with a drawdown of up to 38.53% as of March 31 this year.