On January 17th, news emerged that as a new attempt to implement the "Opinions on Deepening the Reform of the Mergers and Acquisitions Market for Listed Companies," private equity funds acquiring listed companies are expected to become a new model for solving industry challenges. Recently, an announcement from A-share listed company Tiamaes caused a stir in the venture capital circle, as the domestic leading private equity venture capital institution Qiming Venture Partners, known as the "Golden Catcher," became the controlling shareholder of Tiamaes with a transaction price of 452 million yuan. This is also a typical case of private equity funds intervening in industrial capital since the China Securities Regulatory Commission issued six guidelines on mergers and acquisitions. In the current context of stricter initial public offerings, industry insiders believe that the combination of "private equity + listed companies" is expected to open up a new path for "raising funds, investing, managing, and exiting." Several industry professionals interviewed stated that according to the latest policy guidance, there is a clear encouragement and support for deepening the reform of the mergers and acquisitions market, increasing support for industrial integration, and allowing private investment funds to legally acquire listed companies for the purpose of promoting industrial integration. Qiming Venture Partners' move is expected to provide a "template" for venture capital institutions to solve the exit dilemma in the current industry downturn, actively leveraging mergers and acquisitions to achieve project exits, which is more operable than passively waiting for listed companies to acquire their projects
