The preliminary offline share allocation results for Changxin Technology's Initial Public Offering (IPO) have been unveiled, indicating that 2,459 products from 113 private equity firms have been collectively allocated 161 million shares, valued at RMB 1.436 billion. Offline institutional investors are categorized into two groups: Category A and Category B. Category A is predominantly composed of public funds, which have been allocated 1.978 billion shares, representing 91% of the total offline issuance. Conversely, Category B mainly includes private equity firms, which have been allocated 196 million shares, making up 9% of the total. Among the private equity firms that received shares, the top ten are all prominent quantitative private equity firms. Shanghai Yanfu boasts the highest number of successful allocation recipients, while Jiukun Investment, Huanfang Quantitative, Shanghai Yanfu, and Century Frontier each received allocations exceeding RMB 100 million. Furthermore, the two private equity firms with assets under management surpassing RMB 10 billion, founded by DeepSeek's founder and private equity tycoon Liang Wenfeng, have emerged as the private equity entities with the largest allocations in this IPO.