The new yuan is open, and the chapter is new.
On January 9, 2024, the launching ceremony of the Huaan ** Cup Golden Bull Growth Private Equity Competition and the 2024 Capital Market Forum jointly sponsored by China ** News and Huaan ** were held in Shanghai. The Huaan ** Cup Golden Bull Growth Private Equity Competition aims to build a professional, fair and influential competition platform and investment exchange circle for small and medium-sized growth private equity managers, select private equity managers with excellent investment capabilities, promote the improvement of the standard operation level of private equity, and promote the high-quality development of the capital market. Outstanding representatives from more than 140 institutions such as brokers, private equity**, banks, and industry insiders gathered at the scene to discuss how the industry can stick to its original intention and return to its origins, rebuild trust and confidence, explore new opportunities in the future, and focus on five major articles to promote the high-quality development of the industry.
China ** News and relevant leaders of Hua'an ** jointly launched the Hua'an ** Cup Golden Bull Growth Private Equity Competition **China** News.
Build small and medium-sized private equity
"Competition, Selection, Growth" platform
Xu Shousong, Secretary of the Party Committee, Chairman and Editor-in-Chief of China ** Daily, said in his speech that holding this competition, on the one hand, hopes to increase some endogenous motivation, clarify some directions, and have more confidence. On the other hand, compared with the top private equity, many small and medium-sized private equity managers' "new strategies" and "good products" cannot stand out in the market. In view of this, China Securities News and Huaan** have joined hands to provide a professional, fair and influential competition platform and investment exchange platform for small and medium-sized private equity managers. The private placement competition continues the purpose of the "Golden Bull Award" selection, and strictly implements the evaluation method that combines quantitative and qualitative aspectsAt the same time, the evaluation criteria are set to pay more attention to diversification and differentiation, focusing on excavating small and medium-sized private equity managers with excellent investment capabilities, promoting the improvement of the standard operation level of private equity, and promoting the high-quality development of the capital market.
Zhang Hongtao, Secretary of the Party Committee and Chairman of Huaan**, analyzed the current market situation of small and medium-sized private equity managers. He said that from the perspective of industry demand, with the increasingly fierce competition in the private equity industry, a large number of small and medium-sized growth private equity institutions are really in urgent need of brokerage resource support, and they are very much looking forward to integrating into the industry ecological chain and achieving rapid development and growth. The private equity real competition is held in the hope of providing a platform for all kinds of high-quality small and medium-sized growth private equity institutions to display their performance and strength: first, it is hoped that by building a professional asset allocation and capital docking platform, a number of excellent private equity institutions will be explored, incubated and cultivated, so as to further improve the level of compliance operation of private equity and help the high-quality development of the private equity industrySecond, it is hoped to further strengthen the resource sharing and complementary advantages of institutional investors and private equity managers, establish a new situation of win-win cooperation with outstanding private equity leaders, and jointly promote the long-term and steady development of the capital marketThird, we hope to provide better wealth management services for investors by discovering excellent private equity managers, designing and launching high-quality private equity products.
Zhang Hongtao, Secretary of the Party Committee and Chairman of Hua'an, delivered a speech at **China** News.
Focus on growth Focus on equity
At the launching ceremony of the competition, Gao Daodao, a senior expert of China ** Daily, introduced the rules of the Huaan ** Cup Golden Bull Growth Private Equity Competition.
Gao Daode said that the overall principle of this competition can be refined into "focusing on growth and focusing on rights". The competition is only for small and medium-sized private equity institutions with a management scale of less than 5 billion yuan, focusing on growth private equity managersThe participating private placements do not include bond private placement managers or portfolio investment (FOF) private placement managers, and mainly focus on the manager's equity-based investment capabilities and direct investment capabilitiesAt the same time, we pay attention to the compliance of private equity institutions, and establish a fair, objective and credible evaluation system based on the data authorized by the manager, so as to provide comparable "excellent representatives" of the same kind. In addition, the competition also pays special attention to extension, using the competition as a platform and business as a basis to promote the learning, sharing and exchange of successful experiences among managers, investors and other institutions.
In terms of award setting, the monthly and quarterly award evaluations set up by the competition are mainly quantitative evaluationsThe semi-annual annual award evaluation set up by the competition adopts a combination of quantitative and qualitative evaluation methods. Specifically, the monthly and quarterly (product) lists are ranked monthly and quarterly according to the participation strategy of the registered products, and the monthly and quarterly lists are calculated quantitatively, and the indicators of the current month and quarter of the participating products are comprehensively considered, and the scores are calculated according to the participating groups of the registered products, and the top ten scores are announced. The semi-annual product list refers to the monthly quarterly evaluation results, combined with qualitative evaluation, to determine the final ranking, and announce the top 10 scores.
The annual (company) award examines the comprehensive score of the company's products, and determines the final ranking in combination with qualitative evaluation. Among them, the method of "group selection and combined awards" is mainly adopted, and the winning companies of each strategy group are first selected, and then the winners of the annual Golden Bull Growth Private Equity Manager are determined by comprehensive review.
Forum site **China** newspaper.
The fragmentation of the private equity industry is accelerating
At this forum, Yang Changchang, member of the National Committee of the Chinese People's Political Consultative Conference and chief economist of Shenwan Hongyuan Research Institute, delivered a keynote speech entitled "China's economy has entered a new round of steady growth". Yang Changcheng said that the current structural adjustment of China's economic demand side is basically in place, the financial market environment has improved marginally, the real estate transformation still needs patience but should not be overly pessimistic, the explicit local implicit debt is conducive to alleviating debt risks, the overseas environment tends to ease, China's economy is expected to achieve steady growth, and the financial market situation is expected to improve marginally in 2024.
Zheng Xiaoxia, chief economist and deputy director of Hua'an ** Research Institute, delivered a keynote speech entitled "Gradually Getting Better, Slow Cattle Can Be Expected", sharing the investment outlook for the A** field in 2024. Zheng Xiaoxia believes that with the continuous and stable repair of economic fundamentals, the overall earnings of A-share listed companies will improve significantly compared with 2023. On the other hand, the continuity and stability of internal policies will be significantly enhanced compared with 2023. Zheng Xiaoxia also said that on the whole, the a** field in 2024 "can be expected". Conservatively, the current market is in the process of a gradual upward trend;In an optimistic scenario, the market is expected to come out of the slow bull in the future**.
In addition, Huang Jiangdong, partner of Grandall Law Firm (Shanghai), also delivered a keynote speech on the theme of "Regulatory Trends and Compliance Management of Private Equity**". Huang Jiangdong said that in 2023, a number of new private placement regulations and private equity-related policies will be released. On the whole, Huang Jiangdong analyzes that the current regulatory thinking of private equity pays more attention to the balance between safety and development, emphasizing regulatory differentiation and supporting the good and limiting the inferior. With the increase in the supervision of the private equity industry, the reshuffle and differentiation of the private equity industry are also accelerating.
Reviewer: Xu Jinzhong Editor: Yu Hongbo Producer: Yu Zhe Signed: Fei Yangsheng.