CITIC Securities Investment: In June, the private equity market showed a differentiated trend of increasing fundraising, decreasing prices, a significant rebound in investment, and improved year-on-year performance in exits.

The CITIC Securities Research Report pointed out that in June 2026, the private equity market showed a differentiated trend with an increase in fundraising, a significant rebound in investment, and an improved year-on-year trend in exits. The number of registered funds for fundraising reached a new high but the scale continued to weaken, with the average size of a single fund shrinking and the number of new managers falling to a low point. Regulatory tightening is accelerating industry consolidation. The transaction amount on the investment side saw a significant year-on-year and month-on-month growth, with a high concentration in the field of hard technology and large transactions driving the market. The top regions continued to attract a large share of investments. The total number of exit events improved compared to the previous year but decreased from the previous month, with IPOs accounting for over 60% and growing year-on-year. The share of mergers and resales decreased, indicating a need for further diversification in exit channels.